Today on the Clark Howard Show, Ilyce discussed the following topics:

1. Unemployment numbers a concern this week. ADP announced that job losses totaled only 350,000 last month, instead of 550,000 – which seemed like good news, until a government report suggested that the U.S. service sector contracted at a faster pace in July than June. Not such good news. Also, the number of planned layoffs grew, and the amount of income earned shrank 1.3 percent. Overall, there’s some concern over what Friday’s official July job numbers will be, which is why the stock market is off to a skittish start today (as of 10:21, it was down 71 points or so).

2. Scams, scams and more scams. We’ve published more than 10 scam stories over the past 2 weeks on There are new IRS scams, a Nigerian Rental Scam and a bunch of others. Here’s a quick list of some of the scams we’ve found – we’ll update you on the latest IRS scams on today’s Clark Howard Show. Here’s a link to our story about the phony debt collectors.

3. Is there a new, better way to estimate closing costs? I’ve chatted with the CEO of, and I think that technology will be a huge boon to this industry. Right now, if you want to know how much it’ll cost to close on your loan, your lender has to put together a good faith estimate – which isn’t always right on target. A new RESPA rule from HUD that starts on January 1, 2010, requires lenders to be on target with their GFE. Technology, like the one from, can help. Tune in to find out why and where you can find it. Best of all – it’s FREE for consumers.

4. How’s the economy? Pending home sales are up for the fifth month in a row. Factory orders increased .4 percent last month. But oil prices rose a bunch as well. It’s a mixed bag if you live on Main Street and not Wall Street.

5. Loan modifications are officially off to a smooth start. The Treasury dept. released a loan modification scorecard yesterday showing that loan companies are off to a mediocre start – with just 9 percent of loans being modified (as an average). About 400,000 borrowers have been offered help. More than 235,000 of those borrowers or roughly 9 percent of those eligible and at least 60 days late have begun trial loan modifications. Among the largest mortgage servicers, J.P.Morgan has modified roughly 20 percent of the loans that are 60 days past due. Bank of America has begun trial modifications for fewer than 28,000 borrowers. We’ll discuss more details during the show.

6. Better Business Bureau Just issued an ALERT.

Chicago, IL – August 5, 2009 – The Better Business Bureau is issuing an alert about phony debt collectors that are calling consumers nationwide and claiming that they have defaulted on a payday loan and will be arrested if they don’t pay immediately. Claiming to be lawyers, the scammers say they are with the “Financial Accountability Association” or the “Federal Legislation of Unsecured Loans” and are equipped with a disconcerting amount of personal information about their potential victims.

“Because the scammers have so much information about potential victims, the BBB is concerned that this may be the result of a data breach,” said Steve J. Bernas, president & CEO of the Better Business Bureau serving Chicago and Northern Illinois. “Thousands of people may have had their personal information compromised, and given the scammers’ tactics, it appears that those who have previously used payday loan services could be particularly at risk.”

Read the full article here.

Homeowners for HOPE hotline: 888-995-HOPE. If you need a loan modification, start here.

We’ll do live blogging at the site about today’s show. Hope you can join us. I’ll be filling in for Clark from 1 to 3pm today (there’s a Boortz special after!). Listen live at

Join Ilyce Glink’s Fan Club on Facebook and Get a FREE EBOOK

We’re doing a push this week to get as many people signed up for my new Ilyce Glink FAN CLUB on Facebook. If you sign up by the end of the day, you’ll get a free copy of my ebook “How to Save $50/month.”

Share with your friends! If you spread the word and we get 3,000 people to sign up for the fan club, we’ll also send you a SECOND free ebook: “How to Fix Your Credit History and Score Forever,” which includes information not currently found anywhere on

To sign up for my fanclub, go to Ilyce Glink Fan Page on Facebook.

Ilyce Glink Fan Club members will get a special sneak peak of my new book, BUY CLOSE MOVE IN! which will be for sale starting next April. Fan Club members will also get special discounts and offers associated with our live events, videos, and other items offered at the Think Glink Store.

Sign up today to get all the benefits!

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

Join us for Ilyce Glink’s How to Profit From Foreclosures on October 24, 2009

Following on her successful Makeover Your Money day last May, Ilyce is announcing her latest event, How to Profit From Foreclosures. There are so many foreclosures in Atlanta, and whether you’re buying for investment or you’re buying a home to live in, there are tricks and strategies you’ll want to know about – and the only place you can find out is at Ilyce’s Event.

The event will include three panel discussions covering the following:

Tips from bankers, agents, lenders and REO specialists on how to find foreclosures and negotiate for them.
Tips from tax experts and attorneys who know how to negotiate a foreclosure deal and keep you on the right side of the IRS when it comes to investing in foreclosures
Real life stories of successful investors who have made a great living and built up a fantastic amount of equity investing in foreclosures – without gimmicks and expensive DVD tutorials to sell. You’ll hear their secrets and what has made them rich and successful.

Sign up now for Ilyce Glink’s How to Profit from Foreclosures and get YOUR foreclosure questions answered.

Statute of Limitations for Suing for Credit Card Debt

Mary’s mother has led a completely irresponsible financial life. Now, she’s dealing with her mother’s debt collectors. One is popping out of the woodwork, claiming she owes money from 1991. Does she? She might have owed it at one point, but if the creditor didn’t sue within 6 years (in Georgia), she may no longer owe it. An attorney can advisey ou further. Here’s the link to each state’s statute of limitations for lawsuits.

Georgia Neighborhood Stabilization Program

Andy wanted to know about the Georgia Neighborhood Stabilization Program. Here’s where to go to for more information:

Please feel free to contact Brian Williamson at (404) 679-1587 for more on the general policies for NSP 2.