Automobile Blogs - Page 1

Taylor Bean & Whitaker update: About five weeks after being shut down, the fallout continues for some Taylor Bean & Whitaker borrowers whose loans were ported over to Bank of America. Our Blog is filled with comments from Taylor Bean & Whitaker borrowers who say they have received calls from Bank of America's Collections Department. This interview with Bank of America Rick Simon goes over some of the biggest concerns of Taylor Bean & Whitaker borrowers. We will continue to update on the missing homeowners' insurance payments.

Taylor Bean & Whitaker Mortgage Company Update September 1, 2009. In this post, highlights from our conversation with the director of mortgage supervision from the Georgia Department of Revenue and with a spokesperson from Bank of American about the 100,000+ loans it acquired from Taylor Bean & Whitaker. We've also posted online a Taylor Bean & Whitaker customer welcome from Cenlar, one of several servicers assigned to pick up Taylor Bean & Whitaker mortgages. We also have a new directive from Fannie Mae that was posted today, plus answers to many of your questions and postings. Also, there's a link to all of the other Taylor Bean & Whitaker stories we've published.

Should you buy a new car or a used car?

Scam artists not only steal money from the people they're targeting, but they also create negative impressions around the whole industry or group of people they're impersonating.

The latest scam alert from the FBI revolves around scam artists using a telephone relay service to charge money to a…

New car buyers qualify for a tax deduction for the state or local sales tax, under that American Recovery and Reinvestment Act of 2009. Now the Treasury Department is allowing buyers who purchased their car in states without a sales tax to deduct other fees or taxes.

While American car manufacturers…

This morning, HUD Secretary Shaun Donovan announced a new program that will allow first-time buyers to use the $8,000 tax credit toward FHA loan costs, rather than wait to file their 2009 tax returns (in 2010) to get the cash. We've published the Shaun Donovan HUD statement and the FHA Mortgagee Letter that describe the program on the ThinkGlink.com website.

Washington, D.C. is abuzz with the flurry of legislative activity today. President Obama announced the new CAFE standards for automobiles (35 miles per gallon by 2016), the credit card bill passed the Senate, and now the amended HOPE for Homeowners legislation has sailed through.

The big news with…

First-time unemployment claims rose for the week ending May 9, the Department of Labor reported today. An estimated 637,000 people filed for unemployment the first time, up 32,000 from the week before.

Bloomberg News' sources attribute the jump to recent automobile industry layoffs. The 38 economists…

American real gross domestic product declined by 6.1 percent in the first quarter, according to advance estimates by the Bureau of Economic Analysis. Since this is an estimate, the GDP numbers may be revised.

This was a greater decline than expected, but less than the 6.3 percent decline of the GDP…

If you're looking at buying a new car this year you'll likely be able to deduct the sale tax you pay on your federal income taxes for the 2009 tax year.

IRS announced seven things you should know about this new deduction:

1. State and local sales taxes paid on up to $49,500 of the purchase price of…