Bad Credit Secured Loans

Nara Bancorp Reports Financial Results for First Quarter 2011
Nara Bancorp, Inc. (the “Company”) (NASDAQ: NARA), the holding company of Nara Bank (the “Bank”), reported net income available to common stockholders of $5.7 million, or $0.15 per diluted common share, for the first quarter 2011, compared to net loss available to common stockholders of ($3.6) million, or ($0.10) per diluted common share, for the first quarter 2010, and net income available to …

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Some home owners defaulting strategically
It’s an escape from ‘underwater’ loans Some borrowers can’t keep up with their mortgage payments because they’re struggling to make ends meet. Others choose not to keep up even though they can afford their monthly payments, and a new picture is emerging about who these borrowers are and why they walk away. A growing body of research shows that these so-called “strategic defaulters” defy the tell …

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Why China’s Property Bubble is Different
China’s property bubble is “different” than America’s, but that doesn’t make it less dangerous.

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Payment protection insurance: How I won a £16,000 refund
PPI customers can claim refunds on mis-sold insurance deals as the FSA wins a high court battle on their behalf Martin Jackson has received a payout of just over £16,000 after complaining he had been mis-sold payment protection insurance (PPI) on a loan and two credit cards. Jackson, a company director from Redditch, Worcestershire, had taken out a consolidation loan to better manage his …

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Revenue Growth Sluggish for Citigroup and JPMorgan
NEW YORK, NY–(Marketwire – 04/21/11) – Major Banks have begun to post improved credit quality. More thorough and cautious credit checks have led to fewer delinquent loans and greater financial stability. As such, Banks are setting aside less money to cover bad loans, and some are seeing loan losses recede. While credit quality is improving, the high unemployment rate has been damaging to banks …

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Teche Holding Company Earns $0.72 per Share for Second Quarter and $1.59 for Fiscal 2011 Year to Date
NEW IBERIA, LA–(Marketwire – 04/20/11) – (AMEX: TSH – News ) — Patrick Little, President and CEO of Teche Holding Company, holding company for Teche Federal Bank, today reported on earnings for the Company for the quarter ended March 31, 2011, the second quarter of fiscal 2011. Earnings for the quarter ended March 31, 2011 amounted to $1.5 million, or $0.72 per diluted share, compared to $1.7 …

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Money Matters – Managing Credit: Debt
Credit has been the number one concern at my conferences this past winter, not unemployment but debt!

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Citi profit sags as revenue shrinks, expenses grow
NEW YORK (Reuters) – Citigroup Inc’s first-quarter profit fell 32 percent as shrinking loans and poor trading results pressured revenue while expenses surged. The results highlighted how the third-largest …

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Aumento Capital Corp. Announces Secured Loan to Annidis Health Systems Corp.
TORONTO, ONTARIO–(Marketwire – 04/15/11) – Aumento Capital Corp. (”Aumento”) (TSX-V: ATO.P – News ), a Capital Pool Company, will advance $200,000 to Annidis Health Systems Corp. (”Annidis”) by way of a secured loan. The loan is non-interest bearing and is secured against all of the assets of Annidis. Aumento entered into a letter of intent with Annidis as set out in Aumento’s press release …

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Bad mortgages, lawsuits lower Bank of America’s first-quarter profits
The nation’s largest bank also settled a claim over faulty mortgage investments and set aside less money to cover soured loans.

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The Manitowoc Company Seeks to Refinance Its Senior Secured Credit Facilities
The Manitowoc Company, Inc. today announced plans to refinance its existing senior secured credit facilities to further improve the strength and flexibility of its capital structure, including a reduction in the interest rate paid on outstanding borrowings compared to rates under its current facilities.

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JPMorgan Chase posts record 1st-quarter earnings
JPMorgan Chase & Co. said profit rose 67 percent to a second straight record as provisions for bad mortgages and credit card loans tumbled. First-quarter net income climbed to $5.56 billion ($1.28 per share) from $3.33…

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Good Luck Getting That Mortgage Now!
With mortgage rates low and houses sadly overabundant, now seems like the perfect time to buy a home. Unfortunately, many would-be buyers now find they can’t get a mortgage in the first place — and their odds of success could soon grow even longer.

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Colony Financial Announces New Transaction Activity Totaling $38 Million
LOS ANGELES–(BUSINESS WIRE)–Colony Financial, Inc. (the “Company”) (NYSE: CLNY) today announced two new transactions totaling $38.1 million of equity participation. On March 31, 2011, the Company, together with another investment vehicle managed by affiliates of Colony Capital, LLC, acquired, at a discount, an existing $60 million first mortgage loan secured by fee simple condominium interests …

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Credit is the new reality, cash is no longer king
Want to improve your credit score and maintain good standing? Personal finance expert and author Kelley Keehn explains how in The Money Book For Everyone Else.

Read more on The Globe and Mail