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Articles tagged with: credit

Features and such, Week in Review »

[16 Jun 2013 | One Comment | 1,563 views]
Week in Review (June 9-15)

First off, happy Father’s Day to all the dads out there. Make your kids be nice to you for a change if you, indeed, have that much authority.
Second, we’ve had a busy week (as usual) here at First Arkansas News and would have for our tens of fans to miss out on anything. To that end, we’re doing our weekly thing of posting links to everything that’s been posted in the past week for your clicking pleasure. Yes, we wrote about everything from crepe myrtle thieves in Benton to the …

Week in Review »

[2 Jun 2013 | No Comment | 1,697 views]
Week in Review (May 26-June 1)

It’s the start of a new week, so that means it’s time to take a look at what went on last week here at First Arkansas News through our Week in Review series. It would be an outright tragedy if our tens of fans missed a post or two, so we rehash revisit our most resent stories as a matter of convenience. And, oh yes, we covered a lot of ground last week — we did a little something to honor veterans on Memorial Day, paid a visit to the …

Business, News, Real Estate »

[29 May 2013 | 5 Comments | 10,414 views]
Your credit history and tightening lending standards

Just a few short years ago, getting a loan for everything from homes to cars was a comparatively easy process. That’s changed a bit and especially when it comes to mortgages, hasn’t it?
So, what happened? The subprime lending market died a sudden death in 2007 due to high default rates leading to foreclosures and financial chaos. Banks responded by tightening lending standards on most consumer loans.
The impact of those new measures — some taken by the industry and some put in place by government regulations — is that a high …

Business, News »

[11 Apr 2013 | One Comment | 2,185 views]
Survey reveals consumers’ top financial concerns

April is Financial Literacy Month and the National Foundation for Credit Counseling (NFCC) recently released the results of the 2013 Financial Literacy Survey. The annual survey provides data and trending around Americans’ attitudes and behaviors related to personal finance.
“This year’s survey results provided somewhat of a mixed message,” said Mark Foster, Director of Education for Credit Counseling of Arkansas (CCOA). “More than one in four consumers indicated they are spending more than last year, yet 77 percent admitted to having financial worries, listing insufficient savings as their top financial concern. …

Business, Columns and other comments, Features and such, Legal, News, Real Estate »

[25 Mar 2012 | No Comment | 3,256 views]
Been through a foreclosure? You may be eligible for a review

If your home was tangled up in the foreclosure process in 2010 or 2011, you may be entitled to an independent review which will determine if you are entitled to compensation.
The clock is ticking on that process, however – people wanting a review must request one by the end of July.
In essence, the federal Office of the Comptroller of the Currency, the Office of Thrift Supervision and the Board of Governors of the Federal Reserve investigated 14 major mortgage servicers accused of engaging in unfair foreclosure practices. The end result …

Columns and other comments, Community, Features and such »

[24 Mar 2012 | No Comment | 4,924 views]
CCOA offers tips on how to improve credit

Many people pinch their pennies by doing things such as using coupons and not leaving their water running for very long. But one thing that can save you a lot of money is improving your credit. Better credit means a better credit score, and a better credit score means better interest rates on your credit cards, home and car loans, which can save you literally thousands of dollars.
The majority of your credit score – 65 percent, in fact – is based on your payment history and how much debt you …

Business, Columns and other comments, Features and such, News, Real Estate »

[22 Jan 2012 | One Comment | 2,440 views]
What’s impacting your credit score?

A good credit score has always been important for anyone wanting to take out a mortgage, but it is a critical requirement for borrowers these days.
Remember a few years ago when taking out a mortgage was easy? If a lender decided a borrower was too risky, the potential homebuyer could likely find a subprime lender or a banker offering some loan options designed to get people with less-than-stellar credit into a home.
After a few years of somewhat freewheeling lending practices, we saw a lot of defaults starting around 2007. Some …

News »

[6 Jan 2012 | No Comment | 1,496 views]
New Year Financial Goals

The New Year is just starting to get underway. Everyone should have some kind of goals for their money and now is the perfect time to be thinking about goals for 2012. Many people wish for good things to happen to them financially, however, too few take action to turn those wishes into becoming reality.
“It is important to create a few financial goals,” said Mark Foster, Director of Education for Credit Counseling of Arkansas (CCOA). “As hockey legend Wayne Gretzky said, ‘You miss 100 percent of the shots you don’t …

Columns and other comments, Features and such »

[12 Nov 2011 | 3 Comments | 5,898 views]
Rules of the credit scoring game

It’s hard to play a game if you don’t know the rules. Imagine suddenly having to play a game you’ve never played before – perhaps rugby, polo, or cricket.. What would you do? You could try to make the best of it, but invariably you would make a lot of mistakes along the way simply because you don’t know what you’re supposed to be doing..
Many consumers use credit but don’t know much about credit scoring and how the scoring game is played. As a result, people often make the wrong …

Business, News, Real Estate »

[25 Sep 2011 | 2 Comments | 2,107 views]
Confused yet?

Trying to keep up with the changes that may be on the horizon in the mortgage industry can be either confusing or frustrating (or, perhaps, both) as there are a lot of proposals out there on how to prevent a similar set of circumstances that gave rise to the rash of foreclosures that started popping up in 2007.
Fortunately, there are at least two things upon which the groups coming up with proposals appear to agree – a record number of foreclosures is bad and those people who take out mortgages …