by Anthony | Aug 4, 2020 | COVID19, Debt, Delinquencies, Foreclosure
Black Knight reported on their website that “that the number of loans in forbearance fell by 17K this week, dropping the national forbearance rate to 7.7%. There are now 4.1M loans that remain in active forbearance as of July 28th. While noticeable declines were...
by Anthony | Apr 20, 2020 | COVID19, Debt, Home Equity, Real Estate News
Initially, JPMorgan Chase announced that they were increasing their lending standards for home mortgage borrowers. The new threshold would require at least a 20% down payment and a FICO score of minimum 700. This might appear to be severe but the average FICO score in...
by Anthony | Apr 17, 2020 | Debt, Home Equity, Mortgages
First of all, not all debt is calculated equally. There is standard credit card debt, and then student debt, auto loans and home mortgages. They aren’t viewed the same way by the credit agencies. A recent article reported that the average amount carried on a credit...
by Anthony | Apr 14, 2020 | Debt, Delinquencies, Foreclosure, Mortgages, New Jersey News, NJ Real Estate News
When JPMorgan Chase announced that it is raising borrowing standards this week for most new home loans as the bank moves to mitigate lending risk stemming from the novel coronavirus disruption, the initial reaction might be concern. Hold on and take a deep breath....
by Anthony | Mar 11, 2020 | Debt, Foreclosure, NJ, NJ Real Estate News
The growth in the debt for seniors represents a precarious situation for older Americans. More seniors risk running short of money in retirement due to their increased likelihood of holding debt, according to a 2018 report published by the Employee Benefit Research...
by Anthony | Mar 4, 2020 | Debt, NJ Real Estate News, Real Estate News
According to the Federal Reserve Bank of New York, total debt for Americans over the age of 70 has increased 543% from 1999 through 2019 to $1.1 trillion. This represents the largest percentage increase of debt for any age group. The actual cost of living has combined...
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