How first-time home buyers find ways around LI’s high costs

Rising home prices, wages that haven’t kept pace with those increases, and high levels of student debt are forcing first-time home buyers on Long Island to find creative ways to afford the biggest purchase of their lives.

Buyers are discovering loans and grants that can add tens of thousands of dollars to their budgets.

Others are reducing the burden of student loans through refinancing or repayment plans, or saving for down payments by foregoing a lavish wedding and honeymoon.

For many, these measures are a necessity, given that local home prices have risen more than twice as fast as wages since 2000. […] Read more

High Court judge slams ‘meaningless legal advice’ given to evicted couple

A High Court judge has strongly criticised the “meaningless advice” given to a couple who, along with their five children, have been evicted from their family home.

In a ruling on Tuesday, Mr Justice Paul Gilligan dismissed an application by Orla and Stephen Hallihan for orders against KBC Bank, including an injunction setting aside a repossession order granted in favour of KBC Bank which would have had the effect of allowing them back into their house.

Giving his decision, the judge said while he sympathised with the family, it was clear that they had been receiving advice from a third party from […] Read more

Equifax, Inc. (EFX) Hits New 52-Week High at $144.38

Equifax, Inc. (NYSE:EFX) shares hit a new 52-week high during trading on Monday . The stock traded as high as $144.38 and last traded at $144.36, with a volume of 207,012 shares traded. The stock had previously closed at $143.89.

Several research analysts have recently commented on the company. Royal Bank Of Canada reissued a “buy” rating on shares of Equifax in a report on Wednesday, August 9th. Cowen and Company reissued a “buy” rating and issued a $151.00 target price on shares of Equifax in a report on Friday, July 28th. Deutsche Bank AG reissued a “buy” […] Read more

Credit Scores Hit Record High as Recession Wounds Heal

Credit scores for U.S. consumers reached a record high this spring while the share of Americans deemed to be some of the riskiest borrowers hit a record low — a potential boon for lending and economic activity.

Consumers’ improving fortunes reflect falling unemployment and continued, if lackluster, economic growth. An added benefit: The passage of time since the recession and housing meltdown are helping household balance sheets.

In ever-growing numbers, the worst personal financial setbacks, namely foreclosures and bankruptcies, are falling off Americans’ credit reports. More than six million U.S. adults will have personal bankruptcies disappear over the next five […] Read more