… the proceeds from the fees to finance their rewards, so any haircut in those charges would trim loyalty programs, analysts said.  For customers, that means having to use their cards more often to earn the points they need to fly somewhere, or get cash back.”

One expert, Scott Valentin, an analyst at FBR Capital Markets said that rewards could become 10 or 15 percent more expensive as a result of the forced decrease in fees.  Just last year credit card companies raised interchange …

Tags: Business Credit card Financial services Loyalty program

… Treasury Department has admitted that the Making Home Affordable (HAMP) foreclosure prevention program has not made the type of impact that was expected.  In response the Treasury Department is instituting new rules that will take effect on June 1, 2010.

The new HAMP requirements will force servicers to have in hand all the needed documents from borrowers before they extend a three-month trial modification. Currently, trial modifications can begin after authorization by phone, with …

Permalink: /foreclosures/treasury-department-admits-foreclosure-prevention-program-not-as-successful-as-hoped/

President Barack Obama is proposing a stimulus program that’s designed to combat the high unemployment rate plaguing the nation. But will the new stimulus program help the average American avoid foreclosure and bankruptcy ?

Obama proposed new spending for highway and bridge construction, for small-business tax cuts and for retrofitting millions of homes to make them more energy-efficient. He said he wanted to extend economic stimulus …

Permalink: /economy/will-the-proposed-stimulus-program-save-you-financially/

… plan was suppose to help millions of homeowners avoid foreclosure, however the foreclosure program has failed to attain it goals.  According to a Treasury Department report, 27 percent of homeowners taking part in mortgage modification trails are delinquent on their mortgage payments.  And while the foreclosure prevention plan was designed to help millions of homeowners facing foreclosure, only about 650,000 borrowers are currently participating in the trail phase of the loan …

Permalink: /foreclosures/27-percent-of-homeowners-in-making-home-affordable-program-are-delinquent-on-mortgage/

… the ugly reality of this foreclosure crisis, the administration’s Making Home Afford­able program had failed terribly.  Not only have we not stopped the foreclosure crisis, it has worsened.  The program was supposed to help 3 to 4 million Americans facing foreclosure; but so far only 360,000 homeowners have received mortgage modifications on a three month trial basis. Why is that? .

The truth of the matter is that the mortgage industry has no incentive to modify mortgage so …

Permalink: /bankruptcy/voluntary-mortgage-modification-program-fails-america-time-for-bankruptcy-cramdowns/

According to an article in the Star-Telegram, the Making Home Affordable program continues to fail to hit the mark in preventing foreclosures on any significant scale.

The article said:

“As of last month, more than 360,000 borrowers were enrolled in three-month trial loan modifications, out of about 570,000 who received offers. Only about 85,000 homeowners have had their loans refinanced under the Obama plan.”

Originally this foreclosure prevention plan was …

Permalink: /bankruptcy/making-home-affordable-program-fails-homeowners-facing-foreclosure/

… is getting some of the credit for the rebound by helping the credit markets recover.  One program that the Fed used to get credit flowing again is the Term Asset-Backed Securities Loan Facility, or TALF.  Now, many people are concerned as to whether or not the credit markets will be able to stand on their own at the end of December, because that is when the program is set to expire.

The current program is allowing the Fed to make loans available to investors for the purchase of …

Permalink: /credit_card_negotiation/the-credit-crisis-recovery-might-be-in-trouble-if-talf-program-expires/

… in the Dallas Morning News, the Obama administration is expanding the foreclosure prevention program to include borrowers who owe more than their homes are worth.

The article said:

“Housing secretary Shaun Donovan says borrowers who owe up 25 percent more than their home’s market value will qualify for government help refinancing their mortgages. The program currently is limited to borrowers who owe 5 percent more than their homes are worth.”

It’s good news that more …

Permalink: /dallas_bankruptcy/more-adjustments-to-government-foreclosure-prevention-program/

… to an article in the Star-Telegram, the government is expected to expand its mortgage aid program this week by offering “new” ways that help homeowners avoid foreclosure.  The “new” methods that the government may encourage homeowners to use in order to avoid foreclosure?  Short sales and “giving back” the home to the lender.

The article said:

One way would be to encourage a “short sale,” in which the home is sold for less than the amount owed on the mortgage …

Permalink: /loans-mortgages/mortgage-aid-program-may-expand-but-is-it-enough/

… of refinancing or modifying a home mortgage using the new Making Home Affordable government program.

The Making Home Affordable program is basically designed to stimulate the economy and avoid future foreclosures by encouraging homeowners to refinance high interest rate mortgages or modify adjustable rate mortgages using the program. But can this program help someone currently facing foreclosure? If your home is already in the process of foreclosure most likely this program will …

Permalink: /dallas_bankruptcy/is-the-governments-making-home-affordable-program-right-for-you/

According to an article in the Star-Telegram, a state program for first-time home buyers was suspended because it was no longer able to offer below-market interest rates. The program has helped 9,600 first-time home buyers since 2005. The Texas Department of Housing and Community Affairs is hoping to restructure the program and launch it in April making it easier for first-time home buyers to make a down-payment on a new home.

The article said: …

Permalink: /loans-mortgages/first-time-home-buyer-program-suspended/

… , the Obama administration kicked off the new “Making Home Affordable” initiative today. The program is designed to help 9 million homeowners avoid foreclosure

The article said:

The administration, launching what it calls the “Making Home Affordable” initiative, said that borrowers will have to provide their most recent tax return and two pay stubs, as well as an “affidavit of financial hardship” to qualify for the $75 billion loan modification program, which runs …

Permalink: /loans-mortgages/making-home-affordable-program-kicks-off-today/