Filed under: Banks, Real Estate, Mortgages
It seems the whole country has been in an uproar the last two weeks, either in favor of or against the foreclosure freezes at a number of the nation’s largest banks. But now that the banks are beginning to lift the freezes, there’s been comparative quiet. And that’s odd, because there are a number of lingering effects of the foreclosure freeze that will not benefit anyone — not buyers, and not the banks themselves.
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Filed under: Debt
Politicians come into office to, among other things, manage money that the government spends. The smart candidates, however, aren’t calling much attention to how they manage their own money.
Why? Because increasingly, it’s looking like they can’t win either way. The New York Times‘ recent article, “Political Ads Attack the Other Guy’s Lavish Living,” explained how, in this post-recession age, multimillion-dollar candidates are being criticized for being out of touch and not understanding what the average American is going through.
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Filed under: Borrowing, Debt, Extracurriculars
Can religion help you get out of soul-crushing debt? Somebody say AMEN!
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Filed under: Debt, Consumer Ally
Starting next week, telemarketing companies peddling debt-relief services to consumers will be banned from charging customers advance fees. Any unscrupulous companies that flaunt the new rules will be caught and punished, the Federal Trade Commission announced.
The modifications to the Telemarketing Sales Rule, first announced last July, represent an effort by the commission to rein in abuses by an industry that’s profited from thousands of financially-distressed Americans during the Great Recession. (Continue the story…)
Filed under: Money College, Debt
Frustrated by high debt, poor job prospects and his wife’s pregnancy, a Boston College Law School student has offered to quit school in exchange for a tuition refund.
The student, who is in his third year, spelled out his concerns in an “Open Letter” to George D. Brown, the school’s interim dean, posted on the website of EagleiOnline, the Boston College Law School student newspaper. His name was not disclosed but his story probably is not unusual.
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Filed under: Debt, Credit Cards
While some of us fantasize about cutting up our credit cards and bidding good-bye to them forever, that’s not a realistic scenario. Unfortunately, those tempting pieces of plastic can make it all-too-easy for you to fall into bad habits and rack up hundreds or even thousands in unwanted debt.
We’ve already told you how to whittle away at your debt quickly, but what if you’re ready for the long haul of eliminating your credit card debt? We got on the phone with financial experts to ask for their best advice for setting up a fiscal fitness plan. Keep in mind, just like shedding unwanted pounds, getting rid of that debt takes time and discipline, so stick with it.
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Filed under: Debt
There’s a troubling trend in this nation: People are giving up their banks.
Exactly how many people are going “bankless” is hard to track, but in the late 1990s, the number bandied about in newspaper articles was approximately 10 million Americans, and the FDIC estimated that 13% of all American households were without a bank account.
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Filed under: Home, Insurance
October heralds the onset of fall, bringing burnished leaves and cooler temperatures. It also is the beginning of fire season in Southern California and other parts of the Southwest (although fire season seems to be a year-round event now).
Insurance experts say this is the time to take an inventory of the contents of your home — from cell phones to toaster ovens — with a moving or still camera. After every item is accounted for, store the recording — as well as irreplaceable personal property, like photo negatives and important documents — off-property, in a safe-deposit box. Also, remember to notify your insurance company about new construction on your property and high-end acquisitions, such as a big-screen TV.
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Filed under: Retire, Recession
The prediction from scholars that the Social Security Administration will announce zero cost-of-living adjustment, or COLA, to Social Security recipients in 2011 is a blow that many older and disabled Americans can ill-afford.
In 2010, Social Security recipients were stuck without an annual cost-of-living increase for the first time since 1975, when the annual COLA changes were adopted. At the time the administration made that decision, they forecasted no change for 2011, either.
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If you’re having a problem with a business,