Finance
Mortgage loan closing costs on the rise
When you sell your home or pay back your mortgage, you have to pay closing costs. The average closing cost is about ten times the cost of the average payday advance. The average amount of a closing cost has risen nationally, although not universally. New regulations are in place, and with the turmoil of the ...
Buy and Bail — Skipping out on guaranteed loans more common
It's called "Buy and Bail" -- getting a second mortgage-guaranteed loan to purchase a residence before strategically defaulting on the very first. The action is still very common, despite the belief that Fannie Mae and Freddie Mac have tried to limit the practice. The only thing some borrowers might be charged with is fraud, because ...
Medical credit cards under investigation
In New York state, the attorney general has launched an investigation into medical credit cards. These cards, which generally have very high rates, are sold to patients that need cash now, generally right in the doctor's office. These cards are sold as an instant loans advance to settle bills, rather than an actual credit card.
The ...
Mango Financial- better service for the unbanked and underbanked
Mango Financial, also known as Mango Money, is a relatively new financial services business dedicated to serving the underbanked and unbanked population. Prepaid debit cards online and full menus of bank services that unbanked or underbanked customers do not generally get are offered by Mango financial. Mango Financial at the moment only has one physical ...
Seven banks can’t meet capital needs in Euro stress tests
After the Greek debt crisis started to wreak havoc in European financial markets, a series of stress tests were devised to see whether European banks could manage any further shocks. Seven major European banks were tested and failed showing they wouldn't be able to manage any more problems with the economy. The European Union bloc ...
