U.S. lenders say they expect most borrowers who were given a temporary reprieve on loans due to income loss from the impact of COVID-19 will resume payments soon. The Financial Times reported 40 percent of customers granted forbearance continued to make full payments on their...
Brian P. Brooks, Acting Comptroller of the Currency, said in a series of letters that some states’ long-term efforts to curb the coronavirus could lead to reduced real estate values and debt payments. The closures, Brooks said, were seemingly “indefinite” in some states, a press...
The time is almost up for people who got mortgage forbearance under the CARES Act, but banks can’t predict how many will default of the $150 billion in loans currently on ice, according to a Bloomberg report on Wednesday (May 20). In order to avoid...
Banks are bracing for fallout as more people struggle to make credit card payments due to lost paychecks amid the coronavirus pandemic, according to a report by The Wall Street Journal (WSJ). Credit card companies — Capital One, Discover, Synchrony — have been allowing people to...
October 12, 2018
Stock markets around the globe seem to be in freefall. Interest rates are marching higher. Sears, at least at the time this article, is prepping for bankruptcy. Consumers may feel a pinch (eventually) in the wallet, as credit card debt and mortgages become more expensive. Beneath the headlines trumpeting the travails of consumers lies risk to […]
May 09, 2017
Debt may be among the most four letter of the four-letter words when payback goes awry. And against the burden of interest — and in the interest of survival — the latter...
December 03, 2023
Millions of Chinese consumers have been barred from mobile payment apps amid record defaults. More than 8.5 million people, mostly between 18 and 59, have found themselves blacklisted due to missing payments on things like mortgages and business loans, the Financial Times reported Sunday (Dec. 3), citing local court records. That figure is up from 5.7 […]
June 08, 2020
U.S. lenders say they expect most borrowers who were given a temporary reprieve on loans due to income loss from the impact of COVID-19 will resume payments soon. The Financial...
June 02, 2020
Brian P. Brooks, Acting Comptroller of the Currency, said in a series of letters that some states’ long-term efforts to curb the coronavirus could lead to reduced real estate values...
May 21, 2020
The time is almost up for people who got mortgage forbearance under the CARES Act, but banks can’t predict how many will default of the $150 billion in loans currently...
