A Jonesboro loan officer said regulations for home buying have since changed. Credit scores now need to be higher to make larger purchases.
“The tough situation that we’re running into is that they’ve raised the credit score guidelines where you used to could have low 600 credit score where now it’s mid 700’s or you’re [...]
By: Jim Henry
photo credit: angela stack
Most still get approved, but even prime-risk customers are having a harder time getting auto loans approved in the current credit crisis.
That’s according to CNW Marketing Research, which said that the share of auto loan applications that got final approval dropped for all three of the main credit-risk categories [...]
High credit scores may be more important than income when it comes to mortgage lending. This article exerpt from the Honolulu Star demonstrates the trend.
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Rates haven’t dropped enough for some. Tightening credit score standards and falling home values have eliminated others. And there’s the group that’s still waiting for rates to fall more. Some analysts [...]
By Dean Calbreath
UNION-TRIBUNE STAFF WRITER
September 21, 2008
Even if the bailout stabilizes the financial sector, it will probably not lead to cheaper credit, since banks and other lenders still face major hurdles ahead. Tougher terms on credit, they add, could force Americans to do something that they have avoided for much of the past decade: live [...]
Gail MarksJarvis
September 21, 200
The nation’s financial crisis seems to have eased. But that doesn’t mean consumers, investors and the economy are in the clear.
The government proved during one of the most remarkable weeks in the nation’s financial history that it would stop at nothing to prevent a meltdown.
When it appeared that “shorting stocks”—or betting they [...]
