Credit Card Debt 2009

If you're a bank, things are looking up! The $ 700 billion for the Relief Program Troubled Assets (TARP) has been a large part of beacon financial institutions with a little help to the struggling auto industry too. So if your name is Bank of America, Citigroup or GM then congratulations are in order. In fact, $ 25 billion has been paid with enthusiasm by the institutions which are accumulation funds and do not want to have any government oversight of your business. Banks Go!

"But if you are a homeowner or a potential owner, the average American, or a small business, then the news is not so big. Where often sit behind the desk of a real radio show and podcast assets, it looks pretty grim. The system of real estate is beginning to move households but the lending requirements are stricter than ever, and even high FICO truly qualified buyers and are not receiving approval. We seem to have created a system in which anyone is considered qualified. Bright.

TARP funds should help the needy!

What need are banks? Frankly, banks are posting big profits. They are benefiting from government funds, even Treasury Secretary Geithner, said that Most banks now have more money than they need. Let the additional infusion of ransom money to repair the financial system seems to have worked-a banks. What about consumers?

The loan programs are rising, interest rates are low, but credit continues to deteriorate! Job losses continue as many companies scale back on staff and are forced redundancies. If you are one of many U.S. workers who lost a job or live in fear of job losses, then the success of Bank of America does not do much to feed your family or put a roof over your head, right? Yet not give you a loan.

And Bank of America is just a remarkable example of how bailout funds are working for the big banks and against the Americans average. Bank of America reported a profit of $ 4.2 billion in the first quarter of 2009, however, have $ 1.3 billion in credit losses. Do not this point is a huge problem that no one cares?

The credit card debt is the elephant in the room!

There are about $ 110 million remaining TARP funds. Where are going? I've heard all this help the financial economy and getting credit flowing again, but no one is watching to the credit situation of late guests! Nothing is going to start flowing until qualified buyers can obtain loans for real!

Ringmasters Crazy and rings for home loans

Housing values are down and real property market is showing signs of improvement, but people can buy at last forced to jump through hoops of marriage. It's like the banks own the ring crazy!

Every day I hear from people who are forced to go through a prequalification process with a bank, although it already has a loan with another bank. Why? Banks that have mortgages do not even want to make loans in their own foreclosures, so it must be pre-qualified by the representatives of lending first bank to obtain a loan with another bank. That's crazy!

Why banks do not open the doors to loosen credit and loans their executions own bank for people who want to buy? If they get better terms and easier access to them can stop foreclosures, maintain buyer loan payments, and help unblock the housing market. Everybody wins!

So why no one is talking about the card credit rating and situations? These are topics that receive calls on my radio and podcast shows every day. Want to buy a house? There is thousands out there that banks, lenders and homeowners need to sell. It is a pity that no one seems able to buy them.

We have a Elephant 700 billion U.S. dollars in the financial room of our nation. Maybe we should start talking about it.

Moratorium? Do they still? I see everyone has enough!

About the Author:

Real Estate guru “Butch” Charles Grimes hosts a popular radio show and podcast at and the real estate internet radio station and social networking site at Grimes is a renowned industry leader whose books and educational approach to real estate have made him a sought after figure in the California. For questions, e-mail Butch directly at

Article Source: ArticlesBase.comTARP Money and Credit Card Debt: The $700 Billion Elephant in the Room

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