Right now, the Obama administration wants to help small businesses get loans by injecting $30 billion in to community banks. This will allow up to $300 billion in new loans to small businesses.
As reported by Bloomberg news the other day, experts have doubts about this plan: “Bankers say the problem isn’t scarce credit, it’s lack of demand from creditworthy firms in a weak economy. The result may be more loans given to distressed firms and higher losses.”
I continue to be puzzled why so many experts and those in our government do not understand that the bad economy has rapidly stressed the root of the problem, individual credit scores. After a
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The American Express Starwood Preferred Card is now offering 30,000 bonus points when new card members charge $1,000 in the first three months. You have to hurry because this offers has just been extended but it ends July 31, 2010. After you spend your first $1,000, you will then earn one point for each dollar spent on eligible purchases. Eligible purchases do not include fees, cash advances, and balance transfers. Typically the card offers 10,000 bonus points for new customers.
The Starwood Preferred Guest Program is one of the most rewarding travel programs out there today. The program offers anywhere from stays at 5-star hotels to free air travel on just about any airline.
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FHA-approved lenders may face penalties for noncompliance with the Mortgage Review Board
In an effort to further protect homeowners from abusive or unfair lending practices, the Federal Housing Administration’s Mortgage Review Board announced a large number of administrative actions that would be taken against FHA-approved lenders for noncompliance with the organization’s rules.
To date, 1,500 actions have been taken against such lenders including reprimands, probations, suspensions, withdrawal of approval and civil penalties, the FHA said in a statement.
“Lenders should know by now that FHA will not tolerate fraudulent or predatory lending practices,” said FHA Commissioner David Stevens. Full Post…
Chase has recently announced that the Chase Freedom® Visa – $100 Bonus Cash Back is offering $100 cash back for all new cardholders. If the cardholder spends $799 within the first three months they will be awarded the $100 cash back offers.
Cash Back Details
The bonus offer works like this – you will receive 10,000 bonus points with this bonus offer, which can be redeemed for a $100 check. To qualify and receive your bonus, you have to make qualifying transactions that total $799 or more during the first 3 months of the account being opened. Qualifying transactions include purchases, balance transfers, and any checks that are used to access your account, and exclude cash advances. Keep
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— Billy Miller @ 10:18 pm — 
July 26, 2010