Banks are feeling good enough to let those with bad credit, borrow again. The same practices that got us into a financial crisis are making their return. According to the New York Times, Capital One and GM Financial are some of the companies that are trying to woo troubled borrowers. HSBC and JP Morgan Chase are meanwhile reportedly tiptoeing back into subprime lending. Richard Eskow with Campaign For America’s Future weighs in.
Ways to get rid of a car payment include refinancing a high interest rate car loan at a lower rate or borrowing money from a friend or family member to pay off the debt. Knock out high monthly car payments by obtaining a second mortgage and rolling the car note into it with tips from a credit repair specialist in this free video on auto loans.
Expert: Adriel Torres
Bio: Adriel Torres has been in the mortgage business for over a decade. He has owned two mortgage companies and is a licensed mortgage broker.
Filmmaker: Christopher Rokosz