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Poor credit loans news | ||
New Century Halts New Loans as Lenders Cut Off Credit March 8 (Bloomberg) -- New Century Financial Corp., which specializes in mortgages to people with poor credit, stopped accepting loan applications after some of its own lenders refused to let the company tap credit lines. Embattled Lender New Century Stops Taking Loan Applications New Century, which capitalized on the housing boom by offering loans to consumers with poor credit histories, has stopped taking loan applications amid rumors it may declare bankruptcy. CREDIT DOCU FAILS TO SETTLE OLD DEBTS NO one would watch Lifestyles of the Poor and Unknown, says Robin Leach in the documentary Maxed Out. Except documentary filmmakers. This attack on the credit-card business works up interviews with debtors, debt collectors and one of those... Credit Challenged Car Buyers Find Help Online (ARA) - Eighty percent of all Americans have at least one blemish on their credit reports. And a third of all consumers have credit scores so bad that they may have difficulty securing a car loan. Banks try to return some risky loans to originators Efforts by major banks and Wall Street firms to unload bad U.S. housing loans are speeding up a shakeout in the sub-prime mortgage industry. New Centurys Trials Are An Opportunity Investment banks and hedge funds may wind up as the top lenders to wannabee home buyers with poor credit. New Century stops lending as lenders pull credit New Century Financial Corp. , whose shares fell 25 percent on Thursday amid speculation it would seek bankruptcy protection, said it has received $265 million in financing, but stopped accepting loan applications after some lenders blocked its credit lines. Documentary delves into credit cards James Scurlocks well-meaning but scattershot documentary Maxed Out means to show what happens when you dont shred those annoying credit-card offers that arrive in your mailbox every day. Short answer: Very bad things. General Electrics WMC Mortgage Cuts Subprime Jobs March 9 (Bloomberg) -- General Electric Co.s U.S. mortgage unit will curtail lending and fire 460 workers, or 20 percent of staff, amid a rise in defaults by people with poor credit. General Electrics WMC Mortgage Cuts Subprime Jobs March 9 (Bloomberg) -- General Electric Co.s U.S. mortgage unit will eliminate 460 jobs, or 20 percent of staff, as it curtails lending amid a rise in defaults by people with poor credit. | ||