When it comes to buying your first home, one of the most important thing is qualifying for the mortgage for your real estate property. Banks focus on what is called your “debt-to-income” ratio. Debt to Income ratio is the percentage of your gross monthly income, before taxes, that you spend on debt. [...]
Browsing the archives for the Information category
13 Oct 11
5 Jan 11
According to the AP, Bank of America is going to run a pilot program in three states that will allow its customer menu of checking accounts with a variety of fee options. The testing will be done in Georgia, Massachusetts and Arizona. The test includes ways to avoid fees by linking multiple accounts, credit [...]
Posted in Bank of America, Information, News
3 Oct 10
Bank of America is delaying foreclosures in 23 states as it examines whether it rushed the foreclosure process for thousands of homeowners without reading the documents. The move adds the nation’s largest bank to a growing list of mortgage companies whose employees signed documents in foreclosure cases without verifying the information in them.
Bank of [...]
Posted in Bank of America, Information, Lending, News
11 Aug 10
A California federal judge ordered Wells Fargo to change what he called “unfair and deceptive business practices” that led customers into paying multiple overdraft fees, and to pay $203 million back to customers.
Wells Fargo adopted the policies beginning in 2001, and they became widespread across the banking industry. It is unclear how the ruling would [...]
Posted in Information, News, Wells Fargo
31 Jul 10
According to the AP, President Barack Obama is going after Senate Republicans who have stymied his proposal to create a $30 billion fund to help unfreeze lending for credit-starved small businesses.
Obama made clear that it’s not only a policy disagreement, but a reason for voters to steer away from Republicans in November’s pivotal Congressional elections, [...]
Posted in Information, Lending, News
10 Feb 10
While big banks like Bank of America, Wells Fargo, Citibank and others continue to attract more deposit in the fourth quarter, many American are suddenly moving their money to smaller banks out of principal.
General public anger over taxpayer bailouts and big bonuses is one reason. The other is that according to recent survey, the [...]
Posted in Bank of America, Citibank, Information, News
1 Feb 10
Citibank agreed to suspend its plan to charge fees on certain checking accounts with the New York Attorney General’s office. The fees would have affect over one million of its customers.
The settlement was reached after Citigroup failed to provide adequate disclosure of the fee increase and didn’t offer a free checking program long enough [...]
Posted in Citibank, Information
16 Jan 10
Many people unknowingly pay a lot to their banks in the form of fees. If you don’t know what fees your accounts are subject to, spend a few minutes finding out. Some banks charge ATM fees for using another bank’s ATM, for example. These can be as high as $5! This amounts to a 25% [...]
Posted in Information, News
2 Jan 10
The Treasury Department said Thursday that it pumped $29.3 million into 10 banks to shore up their financial system. The aid came from the $700 billion TARP design to help failing banks.
The banks receiving the latest outlay are: Atlantic Bancshares Inc. in South Carolina; Union Financial Corp. in New Mexico; Mainline Bancorp Inc. in [...]
Posted in Information, News
30 Dec 09
Are you constantly seeing $35.00 fees for each check that you write when your deposit are not quickly credited to your account, for overdrafts. Do you see bank fees for reviewing your account. Who is actually reviewing your account and what do they actually do.
Banks are constantly finding new ways to overcharge us [...]
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Posted in Information
