Today on the Ilyce Glink Show, we covered:
* Will unemployment benefits be extended again? The New York Times reported today that up to 1.5 million Americans face a cut-off in unemployment aid by the end of the year. If this happens, you’ll see a huge increase in the number of foreclosures (above the record-breaking numbers we’re already looking at), plus an increase in uninsured families seeking medical treatment at hospitals and free clinics. Extending unemployment benefits another 13 weeks could cost $40 to $70 billion.
* Cash for Clunkers program. Well, six days into the Cash for Clunkers program, the $1 billion allotted by the government ran out. About 40,000 cars were sold this week – but dealers had been taking private orders on the side for another 200,000 sales. Great month for car sales – but the website crashed, dealers were raising prices (in some cases) and there was a huge amount of frustration. The House approved another $2 billion – Senate votes next week – and they may change again the terms of who qualifies to stretch out the funds to November, which was when it was originally supposed to expire.
For more details, read our story on Cash for Clunkers.
Scams All Over the Place
Hopefully, we’ll get to these new scams on the show, but if not, take the time to read the following:
Nigerian Email Scam Targeting Rental Properties
I just heard from someone who fell for this Nigerian Email Rental Property Scam:
“I am writing after having read an article on your website concerning the rental scams that have been occurring through Craig’s list with Nigerian criminals. I am embarrassed to admit that I fell for such an add for a Boulder, Colorado rental. I stupidly gave all the information asked for in the below email, including completing the MyCreditScore. I am sick with worry now that something may happen. I have been daily checking my VISA card status, but wondered if you had any other suggestions about what I could do. I appreciate your time and help in this manner!
This scam is huge right now! If this has happened to you, please email me so we can help out other readers, listeners and site visitors.
Real Estate Fraud: Real Estate Broker Takes The Home But Not The Mortgage
NEW! FHA Loan Modification Program Allows Up to a 30 Percent Silent Second Interest-Free Mortgage
New Loan Modification Option for FHA borrowers Allows Second Interest Free FHA Loan
Time to go shopping
It’s a tax-free weekend for Georgia.
With this tax-free weekend you can go shopping for:
* Clothing under $100
* Computers/computer equipment under $1500
* School supplies under $20
Free Books and Ebook Deal
We have free books we’re giving away. Go to the Think Glink Store to get your free copy of my books: 50 Simple Steps You Can Take to Disaster-Proof Your Finances or The REALLY Useful Guide to Working Smarter Not Harder
You pay the shipping, and we’ll give you as many free books as you want!
Here’s our Free Ebook deal: Buy 3 Get 1 Free! Choose any 3 ebooks and we’ll give you one of those for FREE!! Use the discount code: freeebook
I’m filling in for Clark Howard Wednesday, August 5 through 7
I hope you can join us as I fill in for Clark Howard starting Wednesday.
Need a Copy of Your Credit History and Credit Score?
Go to AnnualCreditReport.com. While you’re there, pay around $8 for a credit score (try the one from Equifax, which closely mirrors the FICO score used by lenders). It’s the best place to go. This is the only site that the three credit reporting bureaus (Equifax, Experian, and TransUnion) are required to maintain by the Federal Government.
Law Protects Renters After Home Is Foreclosed From Foreclosure Evictions
Jeffrey called to say that his landlord hasn’t been paying her mortgage, and the property he is renting has been sent a foreclosure notice. He wonders if he should continue to pay his rent or not. I advised him to set the rental cash aside in a separate account and wait to be contacted by the lender. Once the property is foreclosed, the law that protects renters after a home is foreclosed might be used to help him. Here’s a link to an MSNBC story about the law, that was tucked into legislation in May 2009.
Read More: Renting a Foreclosed Home to Solve the Housing and Credit Crisis
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