Foreclosure activity picks up in third quarter

A new report finds that lenders nationwide appear to be slowly speeding up their foreclosure processes once again. Foreclosure filings nationwide increased slightly from the second to the third quarter of this year following three straight periods of declining activity, according to the real estate firm RealtyTrac. "This marginal increase in overall foreclosure activity was […]

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Consumer borrowing plummets in August

Data released by the Federal Reserve late last week showed a sharp drop in consumer borrowing during the month of August. Consumer credit fell by $9.5 billion during the month, counteracting much of an $11.9 billion increase during the previous month. Poor confidence and a desire to pay down existing debts may have been a […]

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Auto loans increasing significantly

While the economy has continued to struggle in recent months, the number of auto loans has grown. According to a recent report by Equifax, the number of new car loans during the first six months of this year was up 15 percent compared to 2010. In June alone, more than 1.7 million auto loans were […]

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Consumers confused about credit score factors

While a consumer's credit report and score are used when they apply for many different types of financing, a recent survey finds that most Americans don't know what it actually includes. According to a telephone survey by Visa, the majority of people incorrectly thought that a person's job history, assets or interest rates appeared on […]

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Lenders looking deeper at credit reports

While several years ago, a solid credit score alone may have been enough for many people to qualify for a loan or credit card, many lenders are now giving consumers' credit reports a more thorough review. In the past, many of those giving small loans felt that looking through a consumer's detailed credit report wasn't […]

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Americans viewing debt in a negative light

In the wake of the recession, a new poll finds many consumers have come to view having personal debts as a negative attribute. Almost half of those polled said that the recession had made them feel a newfound urgency to cut their personal debt levels and reduce spending if necessary, according to results from Allstate […]

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Mortgage lenders rejecting more applications

Following the recession, many banks have been reviewing mortgage applications much more carefully and rejecting a higher proportion than before, according to The New York Times. The paper says data from the Federal Financial Institutions Examination Council shows that lenders denied more than 2 million people last year, and many more decided to drop out […]

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Wisconsin city residents have highest credit scores nationwide

A recent study finds that residents in the Midwest have some of the highest credit scores in the country. The U.S. city with the highest average credit score, according to the credit bureau Experian, is Wausau, Wisconsin, where the average VantageScore was 789. A VantageScore can range from 501 to 990, and is calculated differently […]

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Consumers looking to spread out holiday shopping

While it's not yet Halloween, a new report finds many Americans say they are already planning to spend less during their holiday shopping. According to a poll conducted by PriceGrabber, more than two-thirds of consumers say the current economic situation will affect their shopping plans with just 7 percent of consumers saying they expect to […]

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Few consumers expect to increase holiday spending

A new poll finds that most Americans plan to spend either the same amount or less for their holiday shopping compared to last year due to the economy. According to a survey of 1,000 adults for Offers.com, just 11 percent of consumers plan to spend more this year than they did last year, while 45 […]

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