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Consumer News and Advice Archive


Technology Credit Union Offers a Helping Hand to Distressed Homeowners

RISMEDIA, August 11, 2009-Technology Credit Union has announced it has modified more than $10 million in mortgage loans for homeowners since accelerating its effort two years ago to provide assistance to members facing financial difficulty. As part of its efforts, Tech CU implemented a variety of payment relief options ...


Few Americans Buying Into Consumer-Led Recovery

RISMEDIA, August 10, 2009-(MCT)-Personal spending rose in June, but incomes fell, exposing the weak underbelly of the economy. ...


What Would You Do for $8,000?

RISMEDIA, August 10, 2009-Even as the National Association of Realtors® recently reported that first-time homebuyers make up a third of the market, there's still a sizable group of homebuyers who have never heard of the government tax credit that could give them up to $8,000 to buy their first home. ...


Remodeling Market Activity Builds Momentum

RISMEDIA, August 10, 2009-Residential remodeling showed modest gains during the second quarter of 2009 with increases in all indicators, according to the latest National Association of Home Builders (NAHB) Remodeling Market Index (RMI). The current market conditions measure grew to 38.1 from 34.5 in the first quarter. Future expectations rose ...


Economic Recovery Likely to Be Slower and Less Vigorous If Consumer Spending Doesn’t Increase

RISMEDIA, August 6, 2009-(MCT)-The U.S. economy has suffered its biggest shock since the Great Depression. Trillions of dollars in wealth has vanished. Businesses are struggling, and state and local governments grapple with huge and painful shortfalls. ...


Back to Work – Half of Workers Laid Off in Last Three Months Have Found New Jobs

RISMEDIA, August 6, 2009-Laid off workers continue to be resilient, even as the economy is slow to improve. According to a new survey by CareerBuilder completed in June, 48% of workers who were laid off from full-time jobs in the last three months have found new full-time positions; up from 41% ...


Making Home Affordable Program on Track to Help Millions of Homeowners

RISMEDIA, August 5, 2009-The Obama Administration recently released its first monthly Servicer Performance Report detailing the progress to date of the Making Home Affordable (MHA) loan modification program. The purpose of the report is to document the number of struggling homeowners already helped under the program, provide information on servicer performance ...


One in Five Homeowners Filed for Bankruptcy to Avoid Foreclosure in June

RISMEDIA, August 5, 2009-One in five people who receives credit counseling before filing for bankruptcy cites avoiding foreclosure as the primary reason they are choosing bankruptcy, according to information collected by Consumer Credit Counseling Service (CCCS) of Greater Atlanta. ...


Consumers Love the ‘Clunker’ Deals, but Fallout Could Include Higher Prices

RISMEDIA, August 5, 2009-(MCT)-The Cash for Clunkers program has been a favorite for consumers from the start, and the program's popularity can be seen in the amount of consumers taking part in the program, causing for its funding to be eaten up within the programs first week. But consumers have embraced ...


Chase Exclusives Rewards Checking Customers with New 1% Mortgage Cash Back

RISMEDIA, August 4, 2009-Chase, one of the nation's leading consumer banks, announced 1% Mortgage Cash Back, an innovative new benefit from Chase Exclusives, the program that rewards checking account customers for using the bank's other products and services. ...


HUD Secretary Shaun Donovan Announces New FHA-Making Home Affordable Loan Modification Guidelines

RISMEDIA, August 3, 2009-U.S. Department of Housing and Urban Development Secretary Shaun Donovan announced the Federal Housing Administration (FHA) has implemented changes to its loan modification program to ensure consistency with the Obama Administration's Home Affordable Modification Program. By August 15, FHA borrowers will be able to significantly reduce their monthly ...


FHA Home Modification Program Will Help Thousands of Homeowners, Say Realtors

RISMEDIA, August 3, 2009-The following is a statement by National Association of Realtors® President Charles McMillan: ...


Refinances in Second Quarter Reduce Mortgage Payments by $3.4 Billion in Coming Year

RISMEDIA, August 1, 2009-In the second quarter of 2009, half of borrowers who refinanced their loan lowered their annual mortgage interest rate by at least 20% according to Freddie Mac's quarterly Refinance Report. The new interest rate was about 1.25 percentage ...


Cash-for-Clunkers Program May be Suspended Just Days after Start

RISMEDIA, August 1, 2009-(MCT)-Four days after it launched, the popular cash-for-clunkers program has burned through its $950 million budget, sending the Obama administration scrambling to find additional money and avoid a shutdown of the program. ...


Men and Women React to the Economy in Different Ways

RISMEDIA, August 1, 2009-PriceGrabber.com, a part of Experian, explores the impact of the economy on online consumer behavior in its latest Consumer Behavior Report, Economic Trends in Consumer Spending. Results are based on a survey of 3,156 online consumers conducted over the past two months. Survey data revealed ...


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