The sidewalks are still scrubbed and most lawns are neatly trimmed, but now the subdivision of townhouses off Route 1 in Woodbridge is pocked with empty windows and foreclosures. Federal investigators are poking around. » Read More

I received lots of email from readers in similar straits. Some of them expressed hope that the Bush administration's proposed plan to ease the subprime crisis might offer them a solution. But these troubled borrowers are likely to be disappointed. » Read More

I hate to be the bearer of bad news, but the subprime flood—which has been declared contained over and over again—isn't contained yet. » Read More

None of the above is an exaggeration, according to filmmaker James D. Scurlock, whose film "Maxed Out" exposes the insanity of the credit industry by telling the sad stories of some of its most damaged victims. Through interviews with academics, bill collectors and everyday folks on the verge of financial ruin, Scurlock brings into sharp relief the predatory practices that have helped throw millions of Americans — many of them at or below the poverty line — into a tailspin. Historically, the enforcement of 30 percent interest on a debt payment was denounced as usury; today it’s called a "late fee." » Read More

The underlying cause of the current global financial crisis that began in the US is a system in which there is little personal responsibility for lending decisions. » Read More

Manhattan accountant Frank Van Buren, who has carried an Exxon gas card for his business for 17 years, called customer service recently to say his card was near its expiration date, and requested two new ones. He got them - followed by two boxes from Texas. Inside were 2,000 credit cards, all with his name and account number. Worse yet, they were left at his front door. » Read More

If credit were a game of golf, the low scores that many of us have could shoot us to the top of the leaderboard. Sadly though, low credit scores cost Americans more money than teeing off into a pond costs Tiger Woods a penalty stroke. So what can you do? These five tips can give you a start on improving your credit score. As for your golf game, you're on your own! » Read More

Fees have become a large source of revenue for banks around the world, so why is Bank of America launching a campaign to educate it's customers on how to avoid paying them?  You wouldn't think a large bank would do something to decrease a major revenue stream, so is this a genuine attempt at helping individuals to be better off financially, or is it just a PR move to make Bank of America look like they care?

» Read More