Merchant Funding

Small business are saying the state of the economy rather than bank behaviour is the main reason why they are not seeking new credit lines as a survey shows banks are still taking a tough line with those that do apply Fears over the economy have replaced anger at tough bank lending policies as the [...]

President Barack Obama is taking steps to ease the burden of student loans, the White House said on Tuesday, potentially helping millions of cash-strapped college graduates in a tough economy. Obama plans to accelerate a plan to cap student loan payments at 10 percent of income, bringing it forward to start in 2012 instead of [...]

In the tax world, COD is short for “cancellation of debt.” If that phrase doesn’t sound familiar, you’d better read on, particularly given the state of the economy. Like it or not, when a debt you owe is canceled or discharged, in many cases the tax code treats the wiped out debt as cash income [...]

They’re marketed under a different name, but a handful of major banks already let customers borrow against their paychecks for a fee. And there are signs the option may soon become more widely available. Banks say their loans are intended for emergencies and they are quick to distance themselves from the payday lending industry. But [...]

Nearly 40 percent of U.S. homeowners refinancing in the second quarter chose shorter loans, the Federal Home Loan Mortgage Corp. said Monday. Freddie Mac said 37 percent of those people off 30-year loans in a refinancing deal in the quarter chose a 15- or 20-year loan. It was the highest portion of borrowers choosing shorter [...]

Orlando Like other cities in Florida, the Orlando market saw tremendous demand from investors during the first half of the previous decade. Some were looking to cash in on the appreciating market through short-term property flipping, while others were buying properties for vacation homes. Although the market attracted interest from buyers in the Midwest and [...]

With lenders still skittish about making new loans, credit bureaus and others are hawking services that help banks probe deeply into your financial closet. The new offerings include ways to look at your rent and utility payments, figure out your income, gauge your home’s value and even rate your banking habits based on details like [...]

When the financial crisis hit, many banks became tightfisted, and plenty of potential borrowers walked away empty-handed. But financial institutions have emerged from the recession stronger and ready to lend. “Credit is available. No question about it,” says James Chessen, chief economist for the American Bankers Association. “Banks are being careful because the economy is [...]

The line of credit Gov. Tim Pawlenty’s administration set up to keep Minnesota from running short of cash will cost the state nearly $1.6 million even if it’s never used, documents obtained by The Associated Press show. State leaders signed off last week on the $600 million line from four lenders led by Minneapolis-based U.S. [...]

The line of credit Gov. Tim Pawlenty’s administration set up to keep Minnesota from running short of cash will cost the state nearly $1.6 million even if it’s never used, documents obtained by The Associated Press show. State leaders signed off last week on the $600 million line from four lenders led by Minneapolis-based U.S. [...]