Loans News

House lawmakers voted for a major shake-up of the student loan industry Sunday, ending most private banks’ ability to originate lending in the market.

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The Obama loan modification program can lower the recipients credit score by as much as 100 points even if they are making payments on time.
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Federal student loan program overhaul is getting placed on the fast track in Congress after being stalled for months. President Barack Obama’s proposal will eliminate the role of private lenders.
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Emergency loans of up to $60,000 are being offered to jobless people who are struggling to make monthly payments on the mortgages. These loans are for as long as three years are to cover their monthly payments or take care of their arrears and thus prevent foreclosure.
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Last spring, the US government launched a housing relief program designed to help millions of U.S. homeowners, but so far only approximately 85,000 have used the program to refinance. haven’t benefited from that because they can’t — or won’t — refinance.
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