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Finance, Economy & Government Issues Archive


FTC Charges Mortgage Foreclosure ‘Rescuers’ with Deceiving Homeowners

RISMEDIA, March 3, 2008-In an ongoing effort to crack down on businesses that prey upon homeowners facing foreclosure, the Federal Trade Commission has charged six businesses and three individuals with violating the Home Ownership and Equity Protection Act (HOEPA), the FTC Act, and the Truth in Lending Act (TILA) by ...


As Inflation Rises, What Does It Mean for the Housing Market?

RISMEDIA, Feb. 28, 2008-(MCT)-A sharp jump in wholesale inflation and $100-a-barrel oil prices combined Tuesday to heighten fears that inflationary pressures will drive up mortgage rates and deepen problems in a housing sector that's dragging down the economy. ...


Survey Says – Refi Drop Drives Decline in Mortgage Apps, Purchase Applications Unchanged

RISMEDIA, Feb. 28, 2008-The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending February 22, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 665.1, a decrease of 19.2% on a seasonally adjusted basis from 822.8 one week earlier. On an ...


Rebates: Spend or Save?

RISMEDIA, Feb. 27, 2008-(MCT)-The success of the 2008 Economic Stimulus Act hinges on what people do with their rebate checks, Paducah tax preparer Ray McLennan says. ...


Credit Card Rates Stay Up

RISMEDIA, Feb. 27, 2008-(MCT)-Where's my rate cut? That's the question asked by many consumers expecting an immediate break on their credit cards in light of the Federal Reserve's short-term interest rate cuts. ...


Online Tax Software Benefits, Downfalls

RISMEDIA, Feb. 26, 2008-(MCT)-Few Americans relish the annual chore of preparing their tax returns. Two out of three taxpayers, including me, simply hand the job to a pro. But that still leaves more than 50 million do-it-yourself die-hards. ...


Help Your Homeowners Get out from under Mortgages

RISMEDIA, Feb. 26, 2008-(MCT)-Maybe you've heard the pitches about how rates are falling and you need to act now to take advantage of them. Or maybe you're dreading that pending jump in the rate on your adjustable-rate mortgage. Or maybe you feel you're sinking and aren't sure there's a way ...


Real Estate Mortgage Applications Decrease in Latest MBA Weekly Survey

RISMEDIA, Feb. 21, 2008-The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending February 15, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 822.8, a decrease of 22.6% on a seasonally adjusted basis from 1063.5 one week earlier. On an ...


Real Estate Mortgage Crisis Puts Pinch on Student Loans

RISMEDIA, Feb. 19, 2008-(MCT)-If you want to borrow a lot of money for college, you are not going to like what the mortgage mess is doing to you. The credit crunch, which started with a panic over people missing home loan payments several months ago, has spread like a disease, ...


Mortgage Crisis Relief Bill in California Would Ease ‘Short Sale’ Tax Hit

RISMEDIA, Feb. 19, 2008-(MCT)-Homeowners forced to sell their property for less than they paid for it would escape a tax hit under legislation sponsored by state Sen. Michael Machado, D-Linden. ...


Fed Chief Sees Rebound for Economy by Midyear

RISMEDIA, Feb. 18, 2008-(MCT)-The combination of a fiscal stimulus package and successive interest-rate cuts should spark an economic rebound by the middle of the year, Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson testified Thursday. ...


5 Ways to Take Advantage of the New Freeze on Real Estate Foreclosures

RISMEDIA, Feb. 15, 2008-Robert Shemin says one of the most important secrets to becoming wealthy is getting out of debt. And the only way to get out of debt is to take action. ...


Real Estate Mortgage Applications Decrease in Latest MBA Survey

RISMEDIA, Feb. 15, 2008-The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending February 8, 2008. The Market Composite Index, a measure of real estate mortgage loan application volume, was 1063.5, a decrease of 2.1% on a seasonally adjusted basis from 1086.6 one week earlier. ...


Real Estate Agents, Offer These 6 Financial Tips to Couples

RISMEDIA, Feb. 13, 2008-(MCT)-Valentine's Day is a time for roses, chocolate and sparkly dinners. But if you want to ensure your relationship with your partner endures through less-romantic times, be sure to talk about finances. Being on the same page about all of your financial data is a long-lasting way ...


Subprime Crisis Hits Latino, Black Home Buyers and Sellers Hardest

RISMEDIA, Feb. 12, 2008-(MCT)-As we spend this month celebrating the achievements of black people, I'm saddened by a report that concludes that the subprime mortgage crisis has caused the largest loss of wealth in modern U.S. history for black and Latino homeowners. ...