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Finance, Economy & Government Issues Archive


Putting Foreclosures in Perspective

RISMEDIA, November 3, 2009—When considering the implications of the current foreclosure situation, I believe we are being misinformed about the forces behind the high rate of mortgage defaults.  ...


Does Anyone Know What Happened to all of the Money?

RISMEDIA, October 6, 2009—Poor men want to be rich. Going back to when gold was currency, many a would-be alchemist tried unsuccessfully to turn some other less valuable material into the yellow alloy.  ...


Where Are All the REOs?

RISMEDIA, October 5, 2009—Certain things in life are simply meant to be mysteries. There are ages-old philosophical questions that have kept philosophers busy for millennia: What is the sound of one hand clapping? If a tree falls in the forest and no one is there, does it still make a ...


15 Billion in Credit Card Fees Charged! …and the New “Credit Card Act”

RISMEDIA, October 5, 2009—In the last year, have you experienced a credit card interest rate increase, a fee you felt was unfair or a credit line reduction for no specific reason? If so, did you receive any notice or explanation as to why? Were you aware of your options when ...


Will Homeowners and Buyers Lose $45,000?

RISMEDIA, August 17, 2009-Federal Reserve officials met last week and issued a statement saying that their program to purchase $1.25 trillion of mortgage-backed securities will be winding down by the end of year. ...


Bankrate: Mortgage Rates Post Mixed Results

RISMEDIA, August 17, 2009-The average 30-year fixed mortgage rate inched higher to 5.67 percent this week, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.36 discount and origination points. ...


Home Values Flatten in Short Term; Yearly Declines Shrink, but High Rates of Foreclosure, Negative Equity Expected to Delay True Recovery

RISMEDIA, August 12, 2009-Home values in the United States posted their 10th consecutive quarterly decline, falling 12.1 percent year-over-year, according to a Zillow Home Value Index of $186,500, according to the second quarter Zillow Real Estate Market Reports. But for ...


Mortgage Bill Could Be Revived

RISMEDIA, August 11, 2009-(The Hill)-Senate Majority Whip Dick Durbin (D-Ill.) said on Monday of last week that if the financial industry is not able to complete 500,000 mortgage modifications by November he would pursue legislation ratcheting up the pressure on the industry. ...


Fed Plans Consumer-Friendly Changes to Mortgage Rules

RISMEDIA, July 27, 2009-(MCT)-Federal Reserve governors unanimously proposed tough new consumer-friendly disclosure rules for mortgages and home equity loans last week, tackling one of the less-appreciated causes of the nation's deep financial crisis. ...


Federal Reserve Chairman Ben Bernanke Predicts Muted Economic Improvement

RISMEDIA, July 23, 2009-(MCT)-During his semiannual report to Congress earlier this week, Federal Reserve Chairman Ben S. Bernanke expressed concerns about rising unemployment and foreclosures in the coming months and also reiterated that the central bank would keep interest rates at "exceptionally low levels for an extended period." ...


Realtors Federal Credit Union – Where You and Your Money Belong

RISMEDIA, July 16, 2009-Many financial institutions do not truly understand the personal and business financial requirements of real estate brokers and their agents-many of whom are independent contractors. REALTORS® now have a financial services resource designed specifically for them. REALTORS® Federal Credit Union (REALTORS® FCU) is sensitive to the work habits ...


30-year Fixed Rates Continue Month-Long Decline

RISMEDIA, July 15, 2009-The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased last week to 5.26 percent, down from 5.40 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com . Meanwhile, rates for ...


Realtor/Foreclosure Avoidance Educator Announces Agreement with Michigan Association Of Realtors

RISMEDIA, July 14, 2009-Meeting the demands of a changing market and economy, industry leader Will Weaver announces an agreement with Michigan Association of Realtors to train Michigan Realtors how to help Homeowners seeking to Avoid Foreclosure in this tough Economy. In addition Will Weaver and Michigan Association of Realtors have ...


Are Brokered CDs too Good to be True? Look Closer

RISMEDIA, June 30, 2009-(MCT)-William Katker thought he was playing it safe and smart when he parked some retirement money last year in a high-yield certificate of deposit he purchased through his stock brokerage. Katker's government-insured six-month CD had an annual percentage yield of nearly 4%, which easily beat the returns ...


My Credit Score Dropped 87 Points Because of Me

RISMEDIA, June 10, 2009-Everyone has become more concerned about their credit scores these days, especially when a better score can result in lower credit interest rates and payments saving thousands of dollars from interest. With this in mind, many consumers are paying more attention to their credit and, unfortunately, in the ...


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