November 2009

Fannie Mae To Tighten Credit Score, Debt Requirements For Borrowers -WP (Nasdaq)

Fannie Mae (FNM) plans to raise minimum credit score requirements for mortgages and limit the total debt that borrowers can carry relative to their incomes, The Washington Post reports Wednesday.

Dubai Credit Risk Rises First Time Since June as Debt Comes Due (Bloomberg)

Nov. 25 (Bloomberg) — Investor confidence in Dubai is falling for the first time in five months after the emirate didn’t disclose how it will pay more than $9 billion of debt coming due.

Fitch Cuts Credit Rating on $2.94 Billion in Los Angeles Debt (Bloomberg)

Nov. 24 (Bloomberg) — Los Angeles, the largest city in California by population, had its credit rating lowered on $2.94 billion of debt by Fitch Ratings today, which said the city’s deficit next year will exceed 9 percent of revenue.

Credit Ruined by Bankruptcy: Debt Relief Alternatives Explained by TotalDebtrelief.net (Marketwire)

Though Marketed Heavily During the Tough Economic Climate as a Means to End Credit Card Debt, Bankruptcy Destroys One’s Credit in the Process

Credit Ruined by Bankruptcy: Debt Relief Alternatives Explained by TotalDebtrelief.net (Marketwire via Yahoo! Finance)

CHICAGO, IL–(Marketwire – 11/24/09) – The current great recession has caused financial hardship for millions of consumers. The current U.S. unemployment rate stands at a whopping 10.2% — the highest level in 26 years. Bankruptcy lawyers have been quick to pounce upon the vulnerable by marketing bankruptcy as a way to eliminate credit card debt and get a fresh start. But the fact is that the …

Iowans’ average credit card debt is lowest in nation (Newton Daily News)

(MCT) — If $4,225 sounds like a lot of credit card debt, think again.

WestLB Debt Risk Soars, Credit-Default Swap Prices Show (Bloomberg)

Nov. 24 (Bloomberg) — The cost of protecting subordinated debt sold by WestLB soared, according to CMA DataVision prices for credit-default swaps.

Consumers get better grip on credit card debt (Chicago Sun-Times)

Consumers got more serious about paying down their credit card debt this summer, a time when delinquencies usually go up.Cardholders making late payments on bank-issued cards like those bearing MasterCard and Visa logos fell to 1.1 percent for the July-to-September period, down from 1.17 percent in the prior three months, according to credit reporting agency TransUnion.The decline is significant …

Late payments on credit cards buck trend, drop in third quarter (The Monterey County Herald)

NEW YORK — Consumers got more serious about paying down their credit card debt this summer, a time when deliquencies usually go up. Cardholders making late payments on bank-issued cards like those bearing MasterCard and Visa logos fell to 1.1 percent for the July-to-September period, down from 1.

Late payments on credit cards drop in 3rd quarter (Boston Herald)

NEW YORK – Consumers continue to take control of their debt as the delinquency rate on credit cards heads toward 1 percent. Customers making late payments on bank-issued…

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