Posts Tagged ‘subprime mortgages’
Chase sees the light, wants to rework 400,000 subprime mortgages
Chase announced a plan Friday to rework up to $70 billion in mortgages for borrowers who are already behind, but also for those who may soon be behind.
The move by the New York bank will cover as many as 400,000 borrowers. They’ll be moved into loans carrying lower interest rates, smaller principal amounts or other [...]
Banks keep credit card interest rates high despite low Fed rates
Even though the interest rates banks pay are dropping, credit card interest rates are holding steady. Joseph Ridout of Consumer Action thinks the banks are trying to make up for their losses on subprime mortgages.
At the same time, banks are cracking down on existing customers by raising rates, dropping limits, and taking other draconian measures.
But [...]
The remaining presidential candidates on consumer issues
We saw that the 2008 presidential candidates seemed generally uninterested in consumer issues when we examined their voting records. However, the three remaining front-runners have been devoting some rhetoric to issues like credit cards and the subprime mortgage mess. The Red Tape Chronicles put together a summary of the candidates’ plans to address consumer issues.
McCain [...]
