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How Do You Feel About Your Bank?
You have many choices when it comes to who handles and manages your money. A recent survey shows the way consumers are feeling about banks, credit unions, brokerage firms, and other financial service providers after what has been the worst recession in decades. Your financial institutions depend on you and they need you more than ever right now, but certain institutions are helping their customers feel that way much more than others.
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how-does-your-bank-feel-about-you 1 page
How Does Your Bank Feel About You?
Banks should be bending over backwards to keep their customers happy right now. Unfortunately, many banks seem so consumed with their own problems that they have forgotten who it is that keeps them in business. Watch for the way banks treat you when it comes to fees, loans, and general customer service to see where you stand with your bank.
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how-much-house-can-you-afford 1 page
How Much House Can You Afford?
After homeowners spent most of this decade taking advantage of loose lending requirements and increasing home prices, many now find themselves stretched too thin trying to make their mortgage payments. Instead of spending as much as you can get approved for on a home, the time has come to buy what you can afford. There are a few rules to help you determine whether or not your mortgage payment is too big for your income.
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how-to-build-an-emergency-fund 1 page
How to Build an Emergency Fund
Over a third of Americans do not have any money set aside in an emergency fund, and many of those who do have an emergency fund don’t have nearly enough. These steps will help you to determine how much of an emergency fund you should have and help you to begin the process of creating an emergency fund.
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how-to-find-a-cheap-flight 1 page
How to Find a Cheap Flight
As the economy stabilizes and people begin to travel again, more travelers are searching for deals on airfare. Traveling on a budget takes work, but it can be done. The more flexible you are willing to be as a traveler, the better chance you have of finding a bargain price. These tips could help you save money on your flights and have more money in your pocket to make your vacation more enjoyable.
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how-to-invest-in-an-inflationary-environment 1 page
How to Invest In an Inflationary Environment
If you listen to the news at all, you’ve certainly heard the prediction that inflation is on the horizon. With the amount of economic stimulus and government spending over the past year and planned for the next year, inflation becomes almost an unavoidable certainty. There are several ways that you can position your investment portfolio to take advantage of an inflationary environment. Understanding how stocks, bonds, and commodities behave when inflation comes can help you to develop a prudent strategy.
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how-to-keep-your-heloc-open 1 page
How to Keep Your HELOC Open
In a falling housing market and with banks in serious trouble, some homeowners are receiving the unwelcome news that lines of credit drawn against their home equity have been closed. There are some things you can do to improve your chances of keeping the credit in your Heloc accessible.
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how-to-tackle-debt-head-on 1 page
How to Tackle Debt Head On
One of the biggest causes of financial stress is debt. Debt issues can be overcome, but only when people take responsibility for their debt problems, ask for help, and start a budget. If you are one of the millions of people with debt problems that you would like to overcome, these tips will help you to get started on the path to better financial health.
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if-you-have-to-tap-into-your-401k 1 page
If You Have To Tap Into Your 401K
: A growing number of Americans are finding that they have to tap into retirement accounts in order to make ends meet in this sluggish economy. Here are some ways to minimize the taxes and fees associated with early retirement account withdrawals.
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increasing-your-savings 1 page
Increasing Your Savings
Most people have a desire to save more money, building up a sum that can be used as an emergency fund or for major purchases down the road. Yet many of us struggle to reach our goals when it comes to saving money. These tips can help you become a better saver and build good financial habits that will benefit you for the rest of your life.
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is-another-stimulus-check-in-the-mail 1 page
Is Another Stimulus Check In The Mail?
A huge economic stimulus package was signed in February that should pump more money into the economy. Unlike the stimulus checks that taxpayers received last spring, this round of stimulus will come for most people in the form of less tax dollars taken from their paychecks. Beginning in April, you should notice a slight increase in the take-home portion of your paycheck.
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is-debt-consolidation-or-debt-relief-a-good-idea 1 page
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is-diversification-dead 1 page
Is Diversification Dead?
After a very difficult year for investors, many are abandoning the core principles that have guided investment decisions for decades. People are making extreme decisions with their portfolios that could have damaging long term consequences. Diversification should continue to be a priority for investors, even if it didn’t protect portfolios last year.
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is-it-time-to-start-investing-again 1 page
Is it Time To Start Investing Again?
With the market showing signs of positive movement over the past few weeks, many investors are trying to determine whether or not to buy into this market. Attempting to time the market can be a dangerous game, however, and building a strong investment plan based on your needs and goals is a great way to come out ahead in the long run.
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is-now-the-time-to-sell-stocks 1 page
Is Now The Time To Sell Stocks?
Investors who are trying to pick up the pieces after one of the most disastrous years in the history of the stock market are left with major decisions about where they should go with their investments from here.
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is-the-fdic-in-trouble 1 page
Is The FDIC In Trouble?
As banks have failed over the past several months and the financial system is under more stress than ever before, the FDIC has been tapped for billions of dollars to back bank customer deposits. Instead of taking bailout money though, the FDIC has levied a one-time, emergency fee directly to banks that is creating a great deal of protest from small and medium sized banks.
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is-the-housing-meltdown-ending 1 page
Is The Housing Meltdown Ending?
Home sales unexpectedly increased in March, leading many to speculate that the housing market may have hit the bottom and started back on the road to recovery. Factors such as low home prices, low interest rates, and an attractive tax credit for first time home buyers are contributing to the increasing home sales.
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is-your-bank-going-to-survive 1 page
Is Your Bank Going To Survive?
With many banks on the brink of failure, it is more important than ever to evaluate your banking relationships. There are measures that you can find that will tell you a lot about the financial strength of your bank, but you can never be sure that your bank will survive. It’s essential to keep your bank balance under the FDIC limit of $250,000 to protect the money you worked hard to put away.
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issues-in-executive-compensation 1 page
Issues in Executive Compensation
After one of the darkest periods in US history for the banking and financial sector, companies are beginning to announce their executive compensation and bonus plans for the year and they news is creating a stir among the non-banking public. With the economy still struggling through a slow recovery, the last thing most people want to read about is the number of executives at Goldman Sachs getting seven-figure bonuses. Every firm is handling their bonuses this year differently and the last week has revealed of lot of the plans being made for 2009 compensation on Wall Street.
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it%e2%80%99s-a-buyer%e2%80%99s-market-for-cars 1 page
It’s A Buyer’s Market for Cars
Not many buyers are in the market for a new car right now, but if you’re considering a new car purchase, now is a great time to take advantage of the desperate situation car dealers and automakers are in right now. Rebates, discounts, and other incentives make this a great time to get an amazing deal on a car.
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jobless-numbers-worse-than-expected 1 page
Jobless Numbers Worse Than Expected
Although no one expected good news in the February jobs report, the news was once again worse than expected, showing massive job losses in just about every industry. It’s becoming more and more difficult to find reasons for optimism as unemployment has eclipsed 8% for the first time in 26 years.
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keys-to-taking-advantage-of-layaway-plans 1 page
Keys to Taking Advantage of Layaway Plans
The holiday season could be very slow for retailers this year as consumers spend their money on items more essential than holiday gifts. Still, to make financing as easy as possible for shoppers, many retailers are offering layaway plans that have been used sparingly over the past 15 years. Consumers who understand layaway plans to have another option to finance their holiday shopping items.
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layoffs-more-common-among-young-employees 1 page
Layoffs More Common Among Young Employees
The recession may be showing signs of coming to an end, but hundreds of thousands of jobs are still being lost every month. Who’s at the most risk to be laid off? You might be surprised to know that younger workers are losing jobs at a faster rate than older employees.
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leading-minds-weigh-in-on-the-economy 1 page
Leading Minds Weigh In On the Economy
Top economists gathered in Seattle this week to discuss their vision of where the market is headed and how quickly we can start talking about economic recovery. Their overall message was cautiously optimistic, although we’ll need to be patient as we watch for key areas to improve.
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loan-servicers-becoming-more-accessible 1 page
Loan Servicers Becoming More Accessible
Finding someone at your bank or lending institution that can help you manage your mortgage and renegotiate terms for borrowers that are in trouble can be a frustrating experience. Some banks are making their loan servicing representatives more accessible which should help borrowers have an easier time getting access to people who can help with their loans.
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loans 1 page
Loans
This blog will explain some of the different types of loans. It will also give information that may be useful when deciding which loan is right for you.
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lower-interest-rates-but-refinancing-still-difficult 1 page
Lower Interest Rates, But Refinancing Still Difficult
Recent moves from the Fed have mortgage rates moving lower again, and many homeowners are interested in refinancing to secure lower rates on their home loans. Potential borrowers are getting loans, but they are also being scrutinized more closely than ever before. Refinancing is a great idea right now, but not all homeowners have that option.
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major-banks-need-to-raise-capital 1 page
Major Banks Need to Raise Capital
As results of the stress test begin to leak out in anticipation of Thursday’s official announcement, it appears that more than half of the major banks being tested will need to raise additional capital. The good news is that none are in danger of failing, as the government has committed to step in and help if necessary. Some banks may even have the financial strength to repay the taxpayer dollars they borrowed.
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many-sellers-becoming-landlords 1 page
Many Sellers Becoming Landlords
Trying to sell a home in this real estate market can be a disheartening experience, especially comparing what your home could potentially sell for today compared to a couple of years ago. Instead of selling in a weak market, many homeowners are choosing to rent out properties while they wait for conditions to improve.
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mark-to-market-accounting-changes-favor-banks 1 page
Mark To Market Accounting Changes Favor Banks
A few years ago, the accounting rules that banks had to follow changed in an effort to make their balance sheets a more accurate reflection of their true financial standing. This led to huge problems for banks during the financial collapse of 2008. The rules have been changed again, this time in favor of banks, and should help banks to survive what’s left of this recession.
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mortgage-applications-plummet 1 page
Mortgage Applications Plummet
Interest rates are on the rise as concerns about inflation have driven bond yields higher over the past few weeks. Mortgage applications are down dramatically. Still, rates are historically very low and if you haven’t refinanced and you’re paying more than 6% on your current mortgage, there is still time to lock in a lower rate.
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mortgage-forecast-slashed-for-2009 1 page
Mortgage Forecast Slashed For 2009
In March the Obama administration predicted the low interest rates and their key lending initiatives would lead between 1.5 million and 2 million refinances this year. Since then, there have been only 13,000. The forecast for the rest of 2009 has been reduced as interest rates have increased and home prices have continued to decline.
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mortgage-fraud-on-the-rise 1 page
Mortgage Fraud on the Rise
Mortgage fraud is at an all time high as borrowers are having a harder time qualifying for loans than ever before. There are several types of fraud that applicants use to get mortgage loans, and also new frauds that distressed homeowners should be aware of with foreclosures on the rise.
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mortgage-interest-rates 1 page
Mortgage Interest Rates:To Lock or Not To Lock?
One of the harder decisions to make when setting up financing for a home is whether or not to lock in your interest rate. There are costs to guarantee a particular rate, but failing to lock a good rate in can also be costly.
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mortgage-modifications-come-in-various-shapes-and-sizes 1 page
Mortgage Modifications Come In Various Shapes and Sizes
With so many homes falling into foreclosure, borrowers and lenders are both eager to find ways to keep borrowers in their homes and making payments. There are several different mortgage modification programs that are being used in this market, and understanding their differences can help you to pursue a program that’s right for you.
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mortgage-ponzi-scheme-shut-down 1 page
Mortgage Ponzi Scheme Shut Down
Before Bernie Madoff got caught stealing from investors, a lot of us didn’t know what a Ponzi Scheme was. Now authorities have uncovered a scheme in which mortgage holders were tricked into giving up $50,000 each in hopes of paying off their mortgage more quickly. The company they paid is shut down now, but not before they stole more than $70 million from the homeowners who bought into the scheme.
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mortgage-rates-become-increasingly-volatile 1 page
Mortgage Rates Become Increasingly Volatile
As lawmakers debate the merits of several different ideas designed to draw buyers back into the housing market, mortgage rates are on the rise and becoming increasingly volatile. Potential buyers should pay close attention, as attractive buying incentives may be coming their way.
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mortgage-rates-lowest-since-1950 1 page
Mortgage Rates Lowest Since 1950
The last time rates on a 30 year fixed mortgage were this low was in 1956. Government stimulus and bailout activities have driven them this low, but don’t expect them to keep falling forever. The low rates should provide added incentive for potential homebuyers looking for entry into the housing market in the coming months.
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mortgage-rescue-plan-finally-in-effect 1 page
Mortgage Rescue Plan Finally In Effect
After several months of anticipation, President Obama’s plan to slow the flood of foreclosures is finally becoming a reality. Six financial institutions are now receiving incentives and subsidies to modify mortgage loans for homeowners that are in trouble. The program could save up to 9 million homeowners from losing their homes.
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new-rules-for-buyers-and-sellers-in-real-estate 1 page
New Rules for Buyers and Sellers in Real Estate
Economists and reporters are constantly referring to the “new normal” when discussing the economy, and nowhere is a new normal going to be more evident than in the real estate market. After years of unrealistic price appreciation in homes, the pullback has been painful. In the future, buyers and sellers need to rely on the principles that guided real estate transactions before the emergence of the housing bubble.
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new-rules-should-help-retirees 1 page
New Rules Should Help Retirees
There are changes in place that work in the favor of retirees this year. A higher Cost Of Living Adjustment on Social Security checks and the removal of a tax rule in retirement accounts for 2009 will ease some of the financial burden facing retirees right now.
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obama-releases-financial-oversight-plan 1 page
Obama Releases Financial Oversight Plan
President Obama announced major changes designed to overhaul the financial system this week, and they are being received with mixed reviews. Critics don’t like the idea of more government influence in private business, especially with recent government intervention in the auto and healthcare industries. But most would agree that more oversight is needed to prevent future financial system failures.
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obama-sides-with-consumers-in-credit-card-controversy 1 page
Obama Sides With Consumers In Credit Card Controversy
The controversy surrounding abusive credit card practices is heating up, with President Obama asking lawmakers to have something that can be signed into law on his desk by Memorial Day. His concern is protecting borrowers from seeing unfair rate hikes or credit term changes as a result of the recession and its impact on card companies.
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obama-signs-credit-card-bill-into-law 1 page
Obama Signs Credit Card Bill Into Law
The long awaited credit card bill was signed into law by President Obama today after breezing through the Senate and the House earlier in the week. The bill will take effect within the next year and consumers should understand the rules associated with their credit cards more clearly. There was some fine print in the bill that may surprise you!
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obtaining-a-auto-loan 1 page
Obtaining a Auto Loan
Very rarely is someone able to pay for a car without obtaining an auto loan. Most of the time, the buyer will need to borrow at least part of the money.
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payday-loans-good-or-bad 1 page
Payday Loans: Good or Bad?
The answer to that question depends on the circumstances. If it's a true emergency-one that was totally unexpected, could not be anticipated in any way, and
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paying-off-credit-cards-easier-than-ever 1 page
Paying Off Credit Cards Easier Than Ever
Credit card companies are in trouble as more borrowers fail to make timely payments on their growing card balances. Card issuers are working to reduce their risk by offering incentives designed to motivate cardholders to pay down outstanding balances. If your goal is to reduce your credit card debt, some of these offers could be a big help.
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personal-loans-secured-or-unsecured 1 page
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personal-loans-the-good-the-bad-and-the-ugly 1 page
Personal Loans: The Good, The Bad, and The Ugly
The reasons for personal loans are as varied as the means to get them, and the risks involved may be as fluctuating as the interest rates. If you need to seek out a personal loan, it is always wise to investigate all your options thoroughly.
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politicians-fighting-against-credit-card-abuse 1 page
Politicians Fighting Against Credit Card Abuse
Credit card companies are struggling, and they’re taking those struggles out on their customers by cutting credit lines, increasing fees, and raising interest rates. Lawmakers are cracking down on abusive credit practices this week, taking action to ensure that credit card customers are protected from unfair changes to the terms associated with their outstanding credit.
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pros-and-cons-of-a-strong-dollar 1 page
Pros and Cons of a Strong Dollar
The talking heads on the cable news networks are buzzing recently about the dollar and what a weakening dollar means for both the US and the global economy. A weak dollar isn’t good for everyone, nor is a strong dollar, and in either case there are benefits. Understanding who benefits from a strong dollar or a weak dollar will help you to make sense of the ongoing debate about the strength of the dollar.
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pros-and-cons-of-bank-nationalization 1 page
Pros and Cons of Bank Nationalization
The concept of nationalizing banks is making big headlines in the financial world today, with many voices in favor of the government taking over banks and many opposed to further government intervention. The next few weeks should tell us a lot on whether several major banks will be able to survive on their own.
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pros-and-cons-of-online-banking 1 page
Pros and Cons of Online Banking
Most and more banking customers are using the Internet regularly to carry out at least some banking activities. The Internet has changed banking dramatically and millions access their accounts online every day, but online banking still comes with drawbacks that cause customers to think twice before carrying out some transactions online.
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pros-and-cons-of-reverse-mortgages 1 page
Pros and Cons of Reverse Mortgages
One of the financial decisions that many senior citizens have to make is whether or not to consider a reverse mortgage late in life. This can be a great way to fund your retirement needs, but it is only a fit in certain situations. Here are some of the pros and cons associated with a reverse mortgage.
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reasons-to-consider-refinancing-your-mortgage 1 page
Reasons to Consider Refinancing Your Mortgage
There are lots of homeowners that have refinanced over the past year while interest rates have been low and many more are still considering whether a refinance is right for them. Now is still a great time to look into refinancing if you want to reduce your payments and interest expenses, lock in an attractive rate, or improve your debt ratios for other borrowing you might be considering.
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record-job-losses-in-january 1 page
Record Job Losses in January
The employment numbers are in for January, and the bad news continues with the highest monthly job loss number in 35 years. The outlook remains gloomy, although lawmakers are working to approve a stimulus measure.
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recovery-looking-more-likely-in-housing-market 1 page
Recovery Looking More Likely In Housing Market
One of the signs economists are watching for to demonstrate economic recovery is the revival of the housing market. Although home values are still heavily depressed, there are now reasons to believe that recovery is coming to housing. Pending home sales blew expectations out of the water in April, increasing for the third straight month and by the largest amount in more than 8 years.
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reducing-debt-through-debt-negotiation 1 page
Reducing Bills Through Debt Negotiation
Debt negotiation is one of the most common ways that delinquent borrowers deal with their debt problems. Negotiation can have a positive outcome for both the borrower and the lender, but there are also a number of pitfalls to avoid when negotiating with your creditors.
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refinancing-tips 1 page
Refinancing Tips
One area in the credit world that is heating up quickly is the home refinance market. Homeowners are taking advantage of low rates to reduce their monthly payments and get into loans that are a long term financial solution for them. These tips will help you to have a positive experience if you are considering refinancing your home loan in the next several months.
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resources-for-taxpayers-getting-better-every-year 1 page
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retailers-may-not-love-valentines-day-this-year 1 page
Retailers May Not Love Valentine’s Day This Year
Consumer spending is down across the board and businesses that depend on Valentine’s Day to bring people into their stores and restaurants worry that the sagging economy will keep more people at home this year.
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salary-freezes-a-common-theme-in-2009 1 page
Salary Freezes a Common Theme in 2009
Companies struggling to cut costs and stay profitable in 2009 are planning to reduce or eliminate employee pay increases at a quickly growing rate. If you’re planning on a pay raise this year, you may not want to start spending that extra money just yet.
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senate-passes-credit-card-bill 1 page
Senate Passes Credit Card Bill
The highly anticipated credit card bill that President Obama asked for a few weeks ago will be on his desk in a few days after the Senate passed the bill to the House of Representatives Tuesday. The bill will limit the ability of card issuers to adjust credit terms of customers without notice or justification and is intended to protect consumers from abusive business practices.
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should-aig-policyholders-be-worried 1 page
Should AIG Policyholders Be Worried?
AIG life insurance policyholders are probably asking themselves whether or not their insurance company will be around to pay benefits should a claim need to be made with the company in financial trouble. Canceling your policy is an option, but there are risks and costs that could make cancellation a poor decision.
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should-we-let-big-banks-fail 1 page
Should We Let Big Banks Fail?
The last year and a half has been very difficult for financial institutions. Many big banks have failed, and others survive today only because of taxpayer dollars keeping them afloat. Not everyone supports the bailouts obviously, and lawmakers listened to prominent people that are against the continuing bank rescues outline their reasons for wanting the market to correct itself.
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should-you-consider-missing-a-mortgage-payment 1 page
Should You Consider Missing A Mortgage Payment?
The decision of whether to miss a payment on your mortgage or use your savings to make the payment on time used to be an easy one. Today, with people in real financial trouble and government programs in place to bail out homeowners who are behind on their mortgage payments, the decision is not as easy as it used to be. Borrowers should weigh their options carefully though before missing a payment.
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should-you-use-a-mortgage-broker 1 page
Should You Use A Mortgage Broker?
Whether you’re looking to refinance or to buy a new home, the decision of whether to use a mortgage broker to obtain a loan is an important one. There are still plenty of honest mortgage brokers out there, but you should be much more selective than you used to be in selecting a mortgage broker to work with. This is a great time to shop around for the best rates and fees.
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signs-of-recovery-in-the-economy 1 page
Signs of Recovery in the Economy
The view that economists have of the economy has shifted dramatically over the past few months and many are now predicting that the recession is over and recovery is underway. There are several areas that economists watch to determine the health of the economy and looking more closely at recent developments in these areas can help us to understand why so many are calling today’s conditions to beginning of recovery.
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small-banks-could-profit-from-stress-tests 1 page
Small Banks Could Profit From Stress Tests
As large banks undergo stress testing conducted by the federal government designed to determine their likelihood of surviving, smaller banks are finding opportunities to expand. Some large banks working to strengthen their capital positions are willing to sell assets at bargain prices, and this practice could continue depending on the stress test results.
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some-stress-test-results-revealed 1 page
Some Stress Test Results Revealed
In February, Treasury Secretary Tim Geithner announced that major financial institutions would undergo stress testing to determine the likelihood that they would survive this financial crisis. The tests have been completed but we won’t see results until early May. We did get some details about how the tests were conducted, some of which provided more questions than answers.
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spending-habits-change-during-a-recession 1 page
Spending Habits Change During A Recession
What do you cut back on in your budget when you need to save money? If you’re like most Americans working their way through this recession, cable TV is probably near the top of your list of things that you could eliminate if you needed to. Some of your high tech gadgets would probably be more difficult to part with.
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spotlight-on-health-insurance 1 page
Spotlight On Health Insurance
There are more than 50 million people in this country who do not have health insurance. The election of President Obama gives this group hope that a solution may be on the horizon, but there is no assurance of universal health care with all of the other economic issues that are raising concerns right now.
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stimulus-to-help-those-who-rely-on-cobra 1 page
Stimulus to Help Those Who Rely On Cobra
One of the challenges of being unemployed is finding affordable health insurance until a new job with benefits can be found. COBRA laws require employers to make coverage available to laid off workers, but the costs can be prohibitively high. The economic stimulus package that was recently signed in to law addresses this concern and subsidizes health care for the unemployed.
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student-loan-options 1 page
Student Loan Options
Student loans are inevitable in today's world. A variety of public & private loans are available for students.
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surviving-a-recession 1 page
Surviving a Recession
The choices you make today on how you will survive this recession will not only determine how you weather the storm today, but how quickly you will be able to recover when the economy rights itself again.
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tailwinds-pushing-the-stock-market-higher 1 page
Tailwinds Pushing the Stock Market Higher
After an extremely disappointing 2008 for investors, the stock market responded with a massive rally over the past six months. Even though there are still economic headwinds to contend with, there are several factors giving investors the confidence to move markets higher. This rally won’t last forever, but these five areas are providing plenty of reason to believe that the rally can be sustained.
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the-consequences-of-deficit-spending 1 page
The Consequences of Deficit Spending
The end of September marks the end of the fiscal year for the U.S. government and the spending deficit for the year is expected to approach half a trillion dollars. Next year, the deficit could be four times higher. The government has never spent money they didn’t have at a pace like this, and the long term consequences for this spending could be very difficult for future generations to deal with.
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the-great-bank-consolidation 1 page
The Great Bank Consolidation
The banks that lend and safeguard our money today are massive conglomerations of countless smaller banks that have been absorbed over the years. This graphic depicts the major mergers that led to what are now the four largest banks in the U.S.: Bank of America, JP Morgan Chase, Wells Fargo, and Citibank.
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the-importance-of-debt-ratio 1 page
The Importance of Debt Ratio
One of the key numbers that a lender will look closely at for any potential borrower is the debt ratio. It’s important to understand how your debt ratio is calculated and what you can do to reduce your debt ratio and increase your chances of qualifying for the financing you need.
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the-mortgage-correction 1 page
The Mortgage Correction
Ten Years ago, Fannie Mae made an important policy change that in large part led to the financial collapse of 2008. Should we have seen this disaster coming? And what lessons can we learn to make sure this never happens again?
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the-next-wave-of-foreclosures-is-still-to-come 1 page
The Next Wave of Foreclosures Is Still To Come
Banks have had a big struggle over the past 18 months as foreclosures from real estate speculators and subprime borrowers have been steadily on the rise. We’re now beginning to see a new category of borrower getting hit with foreclosure notices, and it’s the group that lenders used to think was not supposed to be risky.
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the-psychology-of-finance 1 page
The Psychology of Finance
Your financial situation is about more than assets and liabilities. How you feel about your financial position is just as important as any other financial factor. If your finances are keeping you up at night, there are some things you can do to cope with the stress that comes with financial worries.
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the-upper-class-is-struggling-too 1 page
The Upper Class Is Struggling Too
Most of us would love to have the problems of wealthy Americans, but the upper class faces a unique set of challenges in today’s economic environment. Issues surrounding falling real estate values, the costs of higher education, and a heavy tax burden are factors that upper class Americans are struggling to deal with even more than the rest of us right now.
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three-answers-to-2010-social-security-questions 1 page
Three Answers to 2010 Social Security Questions
After receiving the biggest cost of living adjustment in over a quarter of a century last year, Social Security recipients found out this week that they will not be seeing a benefit increase in 2010. However, it looks like they will receive a one-time payment of $250 in lieu of a COLA increase designed to help them recover from what has been a very difficult recession for many seniors on a fixed income.
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three-consequences-of-controlling-bank-pay 1 page
Three Consequences of Controlling Bank Pay
The Pay Czar has started making decisions about executive pay and his decisions will mean much less money in the pockets of people who are accustomed to receiving big bonuses this year. Banks that have already repaid the taxpayer money they borrowed have become a popular destination for high-level bankers who are seeing their salaries and bonuses reduced this year.
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three-efforts-to-enhance-small-business-financing 1 page
Three Efforts to Enhance Small Business Financing
Small businesses are finally seeing some of their customers come back as the economy strengthens but many are struggling to find sources of financing to help them meet their needs. Lending programs exist for small business owners, but many businesses have already maximized their participation in these programs and are still in need of funding. The government is working to make small business lending programs bigger, cheaper, and safer to ease the burden on small business owners.
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three-new-taxes-that-could-be-on-the-horizon 1 page
Three New Taxes That Could Be On the Horizon
The government is spending more money than it ever has before and is cutting taxes to stimulate spending at the same time. To address the growing deficit, the government will eventually need to either cut spending or increase taxes. From a tax perspective, there are several tax changes being considered to generate more tax revenue with directly increasing personal income taxes. Three tax ideas in particular could become a reality within the next few years.
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three-obstacles-to-cleaning-up-foreclosures 1 page
Three Obstacles to Cleaning Up Foreclosures
In an effort to keep foreclosures from becoming a drag on housing prices, the Federal government has committed billions of dollars to cleaning up and selling foreclosed properties. The money has been available for some time but most of it hasn’t been touched yet because private investors are pursuing foreclosed properties more aggressively than the Federal Government is. By the time Uncle Sam finds a way through the red tape, many foreclosed homes have already been sold. In the end, some of this available money may not be used to stabilize housing prices at all.
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three-reasons-seniors-are-struggling-with-debt 1 page
Three Reasons Seniors Are Struggling With Debt
Credit card debt is difficult at any age, but senior citizens are carrying a debt burden that will be even more difficult to overcome, and that burden is growing. Reduced savings balances, high medical costs, and sophisticated scam artists are all factors that are taking their toll on retirees. Being aware of these issues can help you keep your loved ones from amassing debt levels that can be difficult to overcome.
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three-reasons-to-start-a-business-during-a-recession 1 page
Three Reasons to Start a Business During a Recession
If you’ve considered starting a business of your own in the past, you might have decided to wait until the economy was healthier to give it a try. When you consider the environment we’re in though, this could be one of the best possible times to start a business. Your potential competitors are hurting and their market share may be up for grabs. Starting a small business could work wonders for your emotional state and career path as well.
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three-things-you-should-know-about-your-real-estate-agent 1 page
Three Things You Should Know About Your Real Estate Agent
One of the key elements of a successful home sale is finding the right real estate agent. Understanding what motivates the business decisions that real estate agents make will help you to have realistic expectations of the home selling process. If you and your realtor are on the same page, the process of selling your home can be smooth and mutually beneficial.
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three-ways-to-build-a-retirement-nest-egg 1 page
Three Ways to Build a Retirement Nest Egg
In general, people greatly underestimate what it takes to fund their retirement. The more you can do in the years before retirement to prepare financially, the better your chances of making sure your money lasts as long as you do. Even if you’re only a few years from retirement, there are still a lot of things that you can do to increase your chances of a successful retirement.
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three-ways-to-make-your-money-last-as-long-as-you-do 1 page
Three Ways to Make Your Money Last As Long As You Do
One of the biggest fears for people entering retirement is the thought of running out of money. With many seniors losing their jobs and struggling to find new work for the late stages of their working years, many people are being forced to start using their retirement savings to cover their living expenses much earlier than they ever thought they would. The longer you can delay tapping into your retirement funds, the better your chances of making your money last for the rest of your life.
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transparency-demanded-from-banks 1 page
Transparency Demanded From Banks
AIG is making headlines again, this time deciding to pay executives $165 million in bonuses even though the company is being funded by $165 billion in taxpayer money. Lawmakers and taxpayers are outraged, but the bonuses may still be paid.
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uncle-sams-credit-score 1 page
Uncle Sam’s Credit Score
Uncle Sam applied for a loan only to find out his credit score is sub prime. The United States would receive a FICO score of 645.
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unemployed-unhappy-with-debit-fees 1 page
Unemployed Unhappy With Debit Fees
Unemployed workers in many states are receiving their benefits through debit cards issued by banks and funded with taxpayer money. This is more convenient than receiving paper checks, but the fees associated with these debit cards are causing a stir among unemployed workers.
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watch-for-hidden-costs-in-refinancing 1 page
Watch For Hidden Costs In Refinancing
Refinances are on the rise as borrowers look to take advantage of lower interest rates and reduce monthly payments. The fees associated with refinancing can be substantial and they are not always clearly outlined for the borrower. Being aware of these fees can help you to find and negotiate the best deal possible.
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ways-to-stay-out-of-debt 1 page
Ways to Stay Out Of Debt
Getting out of debt is important, but it’s just as important to stay out of debt once you get there, or to keep yourself out of debt in the first place. There are several easy habits you can develop to keep yourself out of debt and avoid problems that debt issues create in the first place. These 4 tips will go a long way in keeping you away from debt problems.
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what-do-lenders-like-to-see 1 page
What Do Lenders Like To See?
Lenders like to see a complete financial picture when considering a loan application, but your credit score, your income, and your overall financial strength and stability will be the determining factors in whether or not you can get a loan in a tight credit environment.
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what-if-the-government-runs-out-of-money 1 page
What if the Government Runs Out of Money?
With the amount of government spending we’ve witnessed over the past several months and the planned spending in next year’s budget, it’s natural to wonder where all of this money is coming from and whether it could ever run out. The reality is that the spending has gone almost as far as it can go without Congressional approval to raise more debt. If lawmakers decide not to increase the debt ceiling, Uncle Sam will have to get creative to access more cash.
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