January 23rd, 2010
Friday Scoop on Credit Karma & Housing Market News
Disappointing news from the housing front: Obama’s mortgage plan to fix the foreclosure crisis is a dud and may have put the housing market recovery at risk, reports the Associated Press. Since its implementation last February, only 66,5000 homeowners of the originally projected 3 to 4 million homeowners have been helped by the federal program. This stands as a serious threat to the housing market because more foreclosed properties flooding the market means the housing crisis could take another turn for the worse. More housing market updates included in the roundup below.
Credit Karma in the News
- Dollars and Nonsense blog mentions Credit Karma in resources to monitor your credit score.
- Las Vegas Review-Journal reports on Credit Karma’s recent Credit Climate stats in the article, “You’re from Nevada: higher debt and a lower credit score.”
- Pacific Business News also used the Credit Climate in Hawaii’s December credit card debt up 7%.
- Bite the “debt bullet” .. save hundreds blogs My Debt Regret, who used Credit Karma to help deal with debt.
Home & Mortagage News
- More homeowners struggling as option ARMS rest higher, reports CNBC.
- The Washington Post reports a disturbing new trend: Mortgage lenders can sidestep new rules to prevent low-ball estimates. Lenders seem to be ducking the new, standardized good-faith mortgage estimates the federal government mandated.
- Problems with the Homebuyer tax credit, with no e-file and four-month delays, writes CNN Money.
- A reminder! The clock is ticking on the First-Time Homebuyer Credit, and American Consumer News provides a list of criteria to qualify.
- Read more on the growing trend of people who are letting mortgages slide in order to pay other bills in the article, “What mortgage? many pay plastic first,” from MSN Money
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