Monday, January 05, 2009

Credit Card Companies Slash Credit Limits

As if access to credit wasn't already tight, credit card companies are slashing consumer credit lines and closing inactive cards - a move that could harm borrowers' credit scores and restrict access to loans.

Preston Cochrane - 1/5/2009 10:38:00 AM
Views 24      0 Comments

Tuesday, December 16, 2008

Changing credit card terms squeeze consumers

Aggressive rate increases on credit cards are threatening to push struggling consumers into financial ruin, accelerating home foreclosures and the nation's descent into recession.

Preston Cochrane - 12/16/2008 10:05:28 AM
Views 130      0 Comments

Monday, December 15, 2008

New Wave of Mortgage Rate Adjustments Could Force More Homeowners To Default

There is a second mortgage shock heading for the economy. In the executive suites of Wall Street and Washington, you're beginning to hear alarm about a new wave of mortgages with strange names that are about to become all too familiar. If you thought sub-primes were insanely reckless wait until you hear what's coming.

Preston Cochrane - 12/15/2008 9:48:16 AM
Views 151      0 Comments

Monday, December 01, 2008

US households will receive one billion fewer credit card offers in 2008

This full year projection shows a 20% decrease representing over one billion fewer offers mailed during the course of the year. Households with incomes under $50,000 will receive about 700,000 fewer offers in 2008 compared to 2007.

Preston Cochrane - 12/1/2008 11:09:42 AM
Views 198      0 Comments

Monday, November 24, 2008

Hidden Crisis: Middle Class, Employed and Broke

The effects of an ailing economy are no longer only visible in low income families. Utah middle income families are also being affected and hiding it well.

Preston Cochrane - 11/24/2008 9:43:20 AM
Views 339      0 Comments

Thursday, November 20, 2008

Is there free money for Utahns?

A public private partnership in Utah is offering free money to help people struggling to get a start in life and encourage savings. But what are the "strings" attached?

Preston Cochrane - 11/20/2008 10:43:50 PM
Views 254      0 Comments

Thursday, November 13, 2008

Not Reading Credit Card Junk Mail Can Cost You A Large Interest Rate Increase

You may get dozens of pieces of seemingly junk mail from your credit card company every week. Trashing that mail is costing people big bucks.

Preston Cochrane - 11/13/2008 5:20:30 PM
Views 277      0 Comments

Wednesday, November 12, 2008

Government, banks join in redoing loans

The government and the mortgage industry are launching the most sweeping effort yet to help troubled homeowners by speeding up the process for renegotiating hundreds of thousands of delinquent loans.

Preston Cochrane - 11/12/2008 10:52:02 AM
Views 266      0 Comments

Tuesday, November 11, 2008

Why banks are boosting credit card interest rates and fees

As the economy tanks and banks' mortgage-related losses balloon, some banks are stepping up such increases to boost revenue. Bearing the brunt are consumers for whom a jump in rates and fees can make it tougher to pay their bills at a time when household budgets already are being stretched.

Preston Cochrane - 11/11/2008 11:34:14 AM
Views 177      0 Comments

Friday, October 31, 2008

Putting your family on a 'Money Diet'

Spending money is a lot like eating. If you’re not careful, you could end up bloated with debt – a deadly situation in any economy. What’s the best way out? A spending diet.

Preston Cochrane - 10/31/2008 9:17:09 AM
Views 225      0 Comments

Saturday, October 25, 2008

Need a mortgage? There's still hope

While the credit crunch has altered the lending landscape, some people can still get home loans. Would you qualify?

Preston Cochrane - 10/25/2008 4:11:33 PM
Views 303      0 Comments

Wednesday, October 15, 2008

Smart Money Moves for a Down Economy

Now's the time to do everything you can to protect your finances. Here are four additional smart money moves to make now.

Preston Cochrane - 10/15/2008 1:35:46 PM
Views 238      0 Comments

Friday, October 10, 2008

Far from Wall Street, Utahns lose jobs, savings, access to credit

People who provide service for low- to moderate-income families are seeing plenty of Utahns affected by the trickle-down effect of the housing and financial crisis.

Preston Cochrane - 10/10/2008 10:35:39 AM
Views 279      0 Comments

Friday, October 03, 2008

Emergency Family Finances: Part 2

Money managers say there are things most people can do right away to put themselves in a better financial position.

Preston Cochrane - 10/3/2008 10:31:50 AM
Views 307      0 Comments

Thursday, October 02, 2008

Emergency Family Finances: Part 1

Many who are working are making a lot less money right now and subprime mortgages and big consumer debt are hovering over a lot of households locally.

Preston Cochrane - 10/2/2008 12:30:18 PM
Views 300      0 Comments

Thursday, September 25, 2008

Credit crisis moves from Wall Street to Utah's Main Street

With the credit market the way it is and with more credit card companies tightening in terms of the risk and who they will offer credit to, not only will it increase the cost of credit but it also limits the ability for the lower income families to obtain credit.

Preston Cochrane - 9/25/2008 8:28:45 PM
Views 292      0 Comments

Monday, September 22, 2008

Will the Rescue Package Protect Your Savings?

The president and the U.S. Treasury want to take $700 billion and shore up the nation's sagging financial system, using the money mostly to buy up mortgage assets that are weighing down the balance sheets of our top institutions. At the moment, there's no money in there for you.

Preston Cochrane - 9/22/2008 11:01:54 AM
Views 289      0 Comments

Friday, September 05, 2008

Student Loans Under Fire

The outlook is bleak for those fresh-faced college kids trying to get ahead because many of them will not be able to get student loans this year.

Preston Cochrane - 9/5/2008 5:17:53 PM
Views 281      0 Comments

Monday, June 30, 2008

Stress over debt taking toll on health

When people are dealing with mountains of debt, they're much more likely to report health problems according to an Associated Press-AOL Health poll.

Preston Cochrane - 6/30/2008 3:01:40 PM
Views 585      0 Comments

Sunday, May 18, 2008

The best financial advice ever

Money experts share the best nuggets of financial wisdom they have ever received.

Preston Cochrane - 5/18/2008 10:37:31 AM
Views 783      0 Comments