Homeowners abandoning houses en masse

A pair of studies released Thursday found that more homeowners are choosing to let an underwater home go into foreclosure, despite their ability to continue to make payments. Researchers at the University of Chicago and Northwestern University found that 31% of foreclosures appeared to be strategic, up from 22% in last year.

As the number of borrowers who walk away from their mortgages increases, the social stigma associated with foreclosure has started to wane, experts say. "It can be a very ..read more

Don't sweat it: Canceling a credit card won't hurt your score

As people have vented their wrath at banks for raising the cost of credit cards — higher interest rates, new annual fees and lowered credit lines for a lot of loyal customers — a recurring theme of the discussion is that consumers will end up punishing themselves by closing their credit-card accounts in a fit of anger. As one reader of a post about credit-card fees commented last week,

I think that the system of credit scoring needs to be addressed. ..read more

More Money Thursday roundup: What a bad credit score can cost you & the best (and worst) cities for car repair

Personal finance from around the Web:

Think your credit score doesn't mean much? Think again. Over your lifetime, a poor one could cost you $200,000. [It's Your Money] If you live in Chicago and need your car fixed, good luck. You'll need it. AutoMD.com sent mystery shoppers to car repair shops in 50 markets to rank which ones had the fairest quotes. The cities with the lowest rankings — based affordability, price variation and shop integrity — were Chicago, Honolulu and ..read more

More Money Thursday roundup: What a bad credit score can cost you & the best (and worst) cities for car repair

Personal finance from around the Web:

Think your credit score doesn't mean much? Think again. Over your lifetime, a poor one could cost you $200,000. [It's Your Money] If you live in Chicago and need your car fixed, good luck. You'll need it. AutoMD.com sent mystery shoppers to car repair shops in 50 markets to rank which ones had the fairest quotes. The cities with the lowest rankings — based affordability, price variation and shop integrity — were Chicago, Honolulu and ..read more

More Money Thursday roundup: Avoiding an audit & online shopping shortcuts

Is it OK to cheat on your taxes? 13% of Americans think so.  [Economix] And if you're hoping not to get audited by Uncle Sam, you'll want to avoid these 10 things. [Consumerism Commentary] The new credit card rules take effect on Monday. So the White House is hosting a live town hall at 2 p.m. EST with economic adviser Austin Goolsbee, who will answer your questions about the reforms. [CreditCards.com] Thinking about tying your credit cards together after tying the knot? It ..read more

Is Debt Settlement a Viable Option to Repay Debts in USA?

Debt settlement is one of the most effective ways to pay off existing debts. It helps you to repay your debts quickly. In USA there are a number of settlement companies that offer debt settlement USA programs.

Debt settlement – What it means

Debt settlement is a process by which you or a settlement company negotiates with your creditors to reduce the amount you owe to them. A successful negotiation is able to reduce the debt amount to about 40-60% ..read more

More Money Friday roundup: Deducting donations & stock market optimists

Personal finance from around the Web:

Made a donation to Haitian relief efforts? You may be able to deduct it on your 2009 tax returns, thanks to swift action in Congress. If you haven't given yet, but want to, here's a list of top-rated charities and some pointers for smart giving. [Bucks, Charity Watch] If you apply for a new credit card after February 22, the card company will base your approval not only on your credit history, but also on the ..read more

More Money Friday roundup: Deducting donations & stock market optimists

Personal finance from around the Web:

Made a donation to Haitian relief efforts? You may be able to deduct it on your 2009 tax returns, thanks to swift action in Congress. If you haven't given yet, but want to, here's a list of top-rated charities and some pointers for smart giving. [Bucks, Charity Watch] If you apply for a new credit card after February 22, the card company will base your approval not only on your credit history, but also on the ..read more

Applying For a Loan if You Have Bad Credit

There are multitudes of situations that can cause a consumer to develop a bad credit rating. Credit card debt that has become overwhelming or even an illness within the family can leave the consumer vulnerable to becoming overwhelmed within the finances and becoming unable to pay their debts. Unfortunately a bad credit rating can greatly decrease the chances of a consumer being approved for a home loan, personal loan or even a vehicle loan.

Here are some tips that you ..read more

Applying For a Loan if You Have Bad Credit

There are multitudes of situations that can cause a consumer to develop a bad credit rating. Credit card debt that has become overwhelming or even an illness within the family can leave the consumer vulnerable to becoming overwhelmed within the finances and becoming unable to pay their debts. Unfortunately a bad credit rating can greatly decrease the chances of a consumer being approved for a home loan, personal loan or even a vehicle loan.

Here are some tips that you ..read more

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