| Refinancing lures, isn't easy
Another mortgage-refinancing boom is under way. But this time around, many homeowners will be watching from the sidelines. For the first time since 2005, mortgage rates have slipped well below 6 percent. As rates drop further - and some expect that to happen if the economy continues to weaken - increasing numbers of consumers will find refinancing their existing mortgage worthwhile. But here's the catch, and it's a big one: Many homeowners won't benefit, either because their mortgage is too big or their credit score is too low. In other cases, falling home prices will make it tough for them to refinance. .
Individuals in Credit Crisis Turning to Credit Piggybacking to Avoid ...
SAN DIEGO, Oct. 24 /PRNewswire/ -- Individuals with adjustable mortgages whose payments have escalated beyond their means and whose credit scores are too low to refinance are now finding a creative way to keep from losing their homes to foreclosure. Commonly referred to as credit piggybacking, the method has been used since credit cards were created and has been in practice on a large scale for the past year. According to Ted Stearns, owner of TradeLine Solutions, Inc., a San Diego company offering the service, the practice enables individuals to improve their credit scores approximately 200 points within 30 days. The company offering the service maintains a portfolio of trade lines, or credit accounts that have perfect payment histories. The accounts can never have a late payment for 10 years.
Buck & New Dawg: Did the Cowboys choke it all away?
NEW DAWG: Wade Phillips sure brought some of that Marty Schottenheimer magic playoff choke-job dust with him from San Diego. This playoff loss to the Giants was just pitiful. BUCK: Choke is an overused word. Gross underachievement is a better description for this teams demise. Choking suggests that the stage suddenly became too big. The only thing too big for this bunch was its britches. They were anointed before they ever won anything and were all guilty of feeding the beast. Did the cutting of cornerback Aaron Glenn come back and haunt the Cowboys in the playoffs? NEW DAWG: The Giants picked on Jacques Reeves all day and scored right before the half by going at Reeves with Steve Smith. Jerry saved $1.5 million by letting Glenn go before the season.
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