Loans // Current TV

Canadian banks in much better shape than American

Canadian banks have mostly not left themselves exposed to risky asset-backed... more

urlspotter
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3 years ago
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Banks 'use credit crunch to milk borrowers of £3bn'

Banks were accused of 'milking' nearly £3billion extra cash from... more

toshiba
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3 years ago
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The 2008 student loan blues

Back to school, kids, if you can scrape up the tuition. By some estimates as many as... more

bansheewail
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3 years ago
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58 comments

Solar power loan program brings clean light to India: TreeHugger

Affordable loans to low income people so that they can access cleaner energy to... more

wholefreespirit
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3 years ago
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10 comments

Gary Coleman loses his mind plugging Cashcall

Everyone's favorite little Arnold from Diff'rent Strokes is back again.... more

bcass22
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3 years ago
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"Extreme Makeover" Home Faces Foreclosure

Extreme Makeover' house faces foreclosure
Mon Jul 28, 11:32 AM PDT

More than 1,800 people showed up to help ABC's "Extreme Makeover" team demolish a family's decrepit home and replace it with a sparkling, four-bedroom mini-mansion in 2005.

Three years later, the reality TV show's most ambitious project at the time has become the latest victim of the foreclosure crisis.

After the Harper family used the two-story home as collateral for a $450,000 loan, it's set to go to auction on the steps of the Clayton County Courthouse Aug. 5. The couple did not return phone calls Monday, but told WSB-TV they received the loan for a construction business that failed.

The house was built in January 2005, after Atlanta-based Beazer Homes USA and ABC's "Extreme Makeover" demolished their old home and its faulty septic system. Within six days, construction crews and hoards of volunteers had completed work on the largest home that the television program had yet built.

The finished product was a four-bedroom house with decorative rock walls and a three-car garage that towered over ranch and split-level homes in their Clayton County neighborhood. The home's door opened into a lobby that featured four fireplaces, a solarium, a music room and a plush new office.

Materials and labor were donated for the home, which would have cost about $450,000 to build. Beazer Homes' employees and company partners also raised $250,000 in contributions for the family, including scholarships for the couple's three children and a home maintenance fund.

ABC said in a statement that it advises each family to consult a financial planner after they get their new home. "Ultimately, financial matters are personal, and we work to respect the privacy of the families," the network said.

Some of the volunteers who helped build the home were less than thrilled about the family's financial decisions.

"It's aggravating. It just makes you mad. You do that much work, and they just squander it," Lake City Mayor Willie Oswalt, who helped vault a massive beam into place in the Harper's living room, told The Atlanta Journal-Constitution.Extreme Makeover' house faces foreclosure Mon Jul 28, 11:32 AM PDT More than... more

shroomfairy
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3 years ago
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3 comments

Economic Depression Then and Now

On Tuesday and Wednesday, Federal reserve chairman Ben Bernanke, a scholar of the epic financial meltdown of the Great Depression, and Treasury Secretary Henry Paulson, a survivor of more recent Wall Street crises, told Congress of their latest efforts to rescue the financial sector. If Fed chairman Alan Greenspan, Clinton Treasury Secretary Robert Rubin and his deputy Lawrence Summers were known as the Committee to Save the World during the financial crises of the 1990s, today's duo may go down as the Committee to Save Wall Street From Itself. For the past several months, the Fed and the Treasury Department have pulled all-nighters dealing with three-alarm fires, from the demise of Bear Stearns in March to the rising concerns over the mortgage giants Fannie Mae and Freddie Mac.

Fannie and Freddie play a huge role in the mortgage business by lending cash and guaranteeing loans made by others. But with the spread of the mortgage crises their stocks have plummeted in recent weeks, and questions have been raised as to whether the government would do what it implied it would all along when it established the two government sponsored organizations: stand behind their debt. Bernanke and Paulson gave an emphatic "yes," as they described to occasionally hostile Congress members their plans to allow Fannie and Freddie to borrow money from the Federal Reserve, and to empower the Treasury Department to buy (and buoy) the companies' stock and stand behind their $5.2 trillion in debt. The prospective moves, along with some slightly better-than-expected earnings reports from banks last week, calmed the markets. The price for this desperately needed action is likely to be more regulation and oversight. Will the crisis inspire a fundamental restructuring of the vital, symbiotic relationship between Washington and Wall Street, as happened during the New Deal? Or will these responses prove a temporary blip, as when the government bailed out the savings and loan industry in the late 1980s? In short, is this 1933 or 1989?

On Tuesday and Wednesday, Federal reserve chairman Ben Bernanke, a scholar of the epic... more

Psychedelic
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3 years ago
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The 10 Worst Corporations of 2007

Neither Honest Nor Trustworthy: The 10 Worst Corporations of 2007 by Russell... more

Elevator
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3 years ago
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1 comment

Need loans resource information? This excellent website!

Top loans related information website with excellent loan content. Why don't open... more

bandisusi
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4 years ago
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US foreclosure filings surge 65 percent in April

One in every 519 U.S, households received a foreclosure filing in April.

iamforchange
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4 years ago
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Changing the World with Kiva.org

Kiva is changing the world through microfinancing. Kiva allows people to lend as... more

Future_America
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4 years ago
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Tax Loans Can Hurt

Tax Refund Anticipation Loans - huge help or huge farce?

karney
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4 years ago
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2 comments

Afghan "Loan Brides"

Afghan Farmers Forced to Sell Daughters to Pay Loans The practice began with the... more

HellaDelicious
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4 years ago
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Individual bankruptcy filings up 27%

The American Bankruptcy Institute said that consumer bankruptcy filings increased 27%... more

varude
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4 years ago
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2 comments

Is an International Financial Conspiracy Driving World Events?

I always liked big conspiracy theories. Why? First of all, i think that everything... more

varude
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4 years ago
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2 comments

The Big Fat Tax Break - Discussion

Don't try running from the IRS, because you'll just die tired. VC2 producer... more

BooksBrown
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4 years ago
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1 comment

“Abolish the Fed”

CNBC allowed Jim Rogers, investor and buddy to George Soros, to get on and slam the... more

varude
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4 years ago
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Can't pay your car note?

If you entered into a subprime auto contract in the past few years and can't pay... more

mobile_journalTHIS
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4 years ago
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Debt for Diploma

College costs are soaring but most students don't receive enough financial aid to... more

AshleyWard
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4 years ago
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6 comments

Real Estate Can Kill You.

Take a risk or steer clear of the bursting bubble? What we learned buying a home... more

jonr
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4 years ago
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7 comments

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