BB relaxes rules for loan rescheduling as default risks increase
A new directive has been issued by the Banking Regulatory Policy Department (BRPD). In an effort to support struggling industries, Bangladesh Bank has relaxed the conditions for loan rescheduling. Now, borrowers facing difficulties can prepay only half of the required down payment, which amounts to 2% of the loan balance, and can settle the remaining […]
Authorities Discover $9 Billion in Alleged SBA Loan Fraud in California Under Biden’s Leadership
Suspension of Borrowers in California Over Fraudulent Aid The U.S. Small Business Administration (SBA) has put a hold on over 111,000 borrowers in California as it aims to recover $8.6 billion linked to suspected fraudulent aid from the coronavirus pandemic. SBA Administrator Kelly Loeffler revealed this decision following her visit to San Diego, outlining the […]
We took out a temporary loan to purchase a new house before selling our old one.
When burglars Wendy and Craig Johnston decided it was time to downsize, they had to move quickly. They stumbled upon a four-bedroom bungalow near Dunfermline, Fife—a rare find, as such homes don’t often hit the market. Their main concern was that if they delayed selling their own house, they’d miss out, so they chose to […]
Is It Wise to Take Out a Loan for a New Car Now That You Can Deduct the Interest?
The One Big Beautiful Bill Act (OBBBA), which became law in the summer of 2025, introduced a provision allowing a deduction for auto loan interest. After OBBBA passed, I shared my thoughts on this in a recent post. Auto loan interest deduction You can deduct up to $10,000 in interest for your newly purchased car […]
Bank to Seize Control of Historic TV Studios Following Loan Default
Historic Los Angeles Studio to Change Hands Amid Financial Crisis Banks are set to take control of a notable television and film studio in Los Angeles after its current owner, Hackman Capital Partners (HCP), defaulted on a significant $1.1 billion loan. This situation has emerged as Hollywood continues to face challenges. Goldman Sachs is reportedly […]
Student loan forgiveness is taxable once more: Begin preparing for the ‘tax bomb,’ CFP advises.
Potential Tax Implications for Student Loan Forgiveness Post-2026 Borrowers who have their student loans canceled after 2026 may encounter significant tax liabilities. The tax protection on student loan forgiveness provided by the American Rescue Plan Act of 2021 is set to expire on December 31, 2025. Notably, this provision was not extended or made permanent […]
How Student Loan Forgiveness Will Be Taxed in 2026
Important points The tax-exempt status for student loan forgiveness is set to end in 2025. This implies that borrowers receiving forgiveness in 2026 should brace for potential tax obligations. However, those qualifying for forgiveness before the end of 2025 won’t face tax charges, even if their discharge occurs in 2026. If your federal student loans […]
Kelly Loeffler: SBA discovers increasing loan fraud in Minnesota welfare programs
Minnesota’s Pandemic Fraud Revealed to Be Far Greater Than Initially Thought The shocking figure of $1 billion and over 90 indictments regarding fraud in Minnesota’s pandemic programs initially seemed staggering. However, this estimate now appears significantly understated, indicating a deeper corruption within the state’s welfare systems. The national outrage surrounding this scandal stemmed from a […]
Rents are expected to decrease, but sanctuary cities won’t see this change: Loan agent reports on homes seemingly left behind by undocumented immigrants.
Homes Abandoned by Illegal Immigrants, Says Texas Loan Agency A real estate loan agency in Texas has revealed that some homes are being left behind by illegal immigrants. This situation stems from a mix of deportations and new policies from the Federal Housing Administration (FHA), which have cut down the number of foreign residents—both legal […]
Complete These 4 Important Steps Before the End of the Year for Tax-Free Student Loan Forgiveness
Important points Students eligible for loan forgiveness in 2025 won’t owe taxes on their forgiven loans. To have a loan forgiven, borrowers must meet specific payment and plan requirements. The Department of Education has restarted the student loan forgiveness process, but there are a few steps borrowers should take to avoid federal taxes on forgiven […]