Monthly Archives: May 2009
Reverse Mortgages Explained
If you’re age 62 or older and have paid off your home, you may think about getting a reverse mortgage. A reverse mortgage is a way to tap into your home’s equity but it comes at a cost. Interest accrues on the reverse mortgage, which will need to be paid off when you or your heirs sell the home. Is a reverse mortgage right for you? Can you use reverse mortgage funds to pay for a funeral? What can you do if you didn’t understand the terms of the reverse mortgage you already got?
Fewer Americans File For Unemployment For Week Ending May 23
Fewer Americans filed first time unemployment insurance claims last week, the Department of Labor reported this morning.
The seasonally adjusted esti…
Avoid Fake Check Scams
Fake check scams have made victims out of 1.3 million adults, with an average loss of $3,000 to $4,000 per consumer. With billions of dollars at state…
Changes in New Credit Card Legislation
President Obama signed new credit card legislation into law last week. See the full story for all the [changes in the new credit card legislation](htt…
Credit Card Legislation Means Changes For Companies And Consumers
President Obama signed into law new credit card legislation that will drastically affect both consumers and credit card companies. Among the changes, the legislation bans unfair rate increases, prevents fee traps, requires plain sight and plain language disclosures, and has many provisions for credit card company accountability and credit card protections for students and young people.
Existing Home Sales Rise 2.9 Percent From March
It’s funny. This morning I went to check the Web site of the National Association of Realtors for the latest numbers for existing home sales and they …
Economists Predict Recession End Soon, But Recovery Slow
The National Association of Business Economists are feeling similarly to the consumers polled by the Conference Board in May – that is optimistic. NAB…
More Mortgage Applications Processed As Rates Rise Slightly
Mortgage interest rates rose slightly last week for 30-year fixed rate mortgages and one year adjustable rate mortgages, announced the Mortgage Banker…
Consumer Confidence Rises In May
Have you been buying more stuff this month? Are you feeling better about the economy?
The Conference Board announced that its Consumer Confidence Ind…
Home Prices Decline 19 Percent In First Quarter 2009
I remember sitting in an economics reporting seminar in grad school three years ago and many of us lamenting that we would not be able to buy homes, n…
