A new study has found that consumers, ages 18 to 29, with student loan debt are generally able to gain access to new loans — and perform as well or better on those new loans — compared to similarly aged consumers without college debt.
“We expect the foreclosure inventory to drop below 1.3 percent by midyear, a level not seen since the end of 2007.”
Bank of America and JPMorgan Chase, two of the nation’s biggest lenders, will update credit reports of more than a million Americans to remove debts that had been eliminated in bankruptcy.
“Additionally, home prices continued to rise, as did the pace of sales, thus increasing equity levels and enabling struggling borrowers to sell if needed.”
“These indicators of credit behavior are then used to assess each community’s ability to access credit and its credit stress level,” the N.Y. Fed states.
During the height of the housing crisis, real estate-owned (REO) sales made up 28 percent of total homes sold. As of February 2015, the REO sales share was 10 percent.
Wells Fargo supervisors drove employees to open unauthorized accounts for customers, improperly charging them fees and wrongly reporting them to credit agencies — all part of a “fee-generating machine” riddled…
The association between debt and depression is particularly strong among unmarried people, people reaching retirement age and those who are less well educated.
The rental market is a side effect of the foreclosure crisis and Great Recession, with income failing to keep up with rent increases.
Green Tree has agreed to create a home preservation plan for some distressed homeowners and take steps to ensure that it collects the correct amounts from consumers.