Tax Refund Anticipation Loans - Consumer Groups Want Regulation
Two consumer groups, the Consumer Federation of America and the National Consumer Law Center are calling for the federal government to regulate tax refund anticipation loans (RALs) because of their extremely high interest rates (50 to 500 percent generally) and excessive fees.
Tax preparation…
IRS Announces COBRA Information For Employers
If you're an employer who has recently laid people off you may be interested to learn about how the U.S. Internal Revenue Service treats COBRA payments.
COBRA allows former employees to keep receiving health insurance through a former employer.
The IRS allows the employer to receive a tax deduction…
Homeowner Affordability And Stability Plan: Q&A From HUD
The Department of Housing and Urban Development (HUD) released this Q&A about the Homeowner Affordability and Stability Plan, which was announced by President Obama on Wednesday, February 18, 2009.
Here are some answers to most-asked questions about the plan:
Questions and Answers for Borrowers about…
Arizona: Epicenter of the Housing Crisis
If you want to know why Obama picked Arizona to annouce the Homeowner Affordability and Stability Plan, take a look at these statistics that were compiled by the White House and released in a media briefing plan. (Sourcing is noted at the end of respective paragraphs.)
Arizona jobs, unemployment and…
Homeowner Affordability And Stability Plan: Who Gets The Help?
There has been a lot of grumbling (particularly on CNBC this morning when Rick Santelli took a poll in the pit as to who would want to pay for someone's housing mistakes) about people getting helped who don't deserve it.
Yesterday, the White House released these three examples of who might be able to…
Questions And Answers About Obama's Homeowners Affordability And Stability Plan
Here's what we received in media briefing papers from the White House:
Homeowner Affordability and Stability Plan Executive Summary
The deep contraction in the economy and in the housing market has created devastating consequences for homeowners and communities throughout the country.
Millions of…
U.S. Savings Rate Rises Despite Income Decline
Despite decreases in personal income, Americans appear to be saving more.
Personal income in December 2008 fell 0.2 percent from November. In November, personal income declined 0.4 percent from October, so it's a little better than it was.
Real personal consumption expenditures fell 0.5 percent, while…
Today On The Ilyce Glink Show - January 25, 2009
New week, new president. Today on the show we talked about the inauguration and how the stock market dived about 4 percent that day -- the most on any inauguration day ever. Why? It had little to do with Barack Obama being inaugurated and a whole lot to do with the Royal Bank of Scotland's numbers.
…
USDA LOAN (RURAL DEVELOPMENT LOAN) LINK
From: Dee Dated: 1/20/2009 You recently discussed refinancing home loan with government with low or no interest rate- something about a farm loan. Can u direct me to that link.I own 14 acres and home with approx.a 40K ARM loan. Have exc. credit rating.Thanks, Dee
From: Ilyce Go to the…
Streamline Loan Modification Update
I have spent quite a bit of time this week calling big mortgage lenders to chat about their streamline loan modification program.
Here's what I learned:
If you have a Fannie Mae or Freddie Mac loan, AND you are 90 days + late on your mortgage, you can call your lender and request a streamline loan…
