Easy credit and longer-term loans currently being offered at auto dealerships can make buying an expensive car alluring, but don’t get reeled in.
Flint’s state-appointed emergency financial manager says he wants to borrow between $15 million and $20 million to help cover past deficits in the cash-strapped city.
A national program will make low-cost loans to buy or repair pre-owned vehicles available to low- to moderate-income working families in the Detroit area.
Detroit Mayor Dave Bing has indicated he could ask the state of Michigan for a short-term loan of up to $150 million to deal with the city’s fiscal crisis and avoid a state-appointed emergency manager.
Rates on 30-year mortgages climbed for the second straight week, but remain near the lowest level in decades.
The Senate has passed a bill to create a $30 billion government fund to help open lending for credit-starved small businesses, cut their taxes and boost federal loan programs for them.
Democratic U.S. Rep. Gary Peters reported Thursday that he has $1.9 million on hand heading into a tough re-election bid in November.