This DVD is free of charge and a public service offered by the National Foundation for Credit Counseling. To order your free copy, complete the order form at this link.
"Avoiding Foreclosure" is a consumer education DVD that introduces you to four clients who found themselves in mortgage trouble for different reasons and sought assistance from an NFCC-certified housing counselor. The DVD does several things. First, it introduces consumers to some of the terms and scenarios they are likely to encounter as they work to save their own home. Second, it familiarizes consumers with the process of avoiding foreclosure. Third, it shows examples of a variety of life situations and challenges facing individuals and families who are facing foreclosure and what they did (with the help of an NFCC-certified housing counselor) to address it.
Saturday, February 28, 2009
Friday, February 27, 2009
They didn't know, or didn't ask. One reason was that the outputs came from "black box" computer models and were hard to subject to a commonsense smell test. Another was that the quants, who should have been more aware of the copula's weaknesses, weren't the ones making the big asset-allocation decisions. Their managers, who made the actual calls, lacked the math skills to understand what the models were doing or how they worked. They could, however, understand something as simple as a single correlation number. That was the problem.
This article discusses risk analysis related to credit default swaps. If you want to understand the basics of credit default swaps, you can view this video.
When the analysts and experts talk about the current financial crisis, they often refer to credit default swaps. So, what exactly is a credit default swap? Marketplace Senior Editor Paddy Hirsch goes to the whiteboard for this explanation.
Many SARs reflect activity dates that preceded the filing of the SARs by a number of years. Hence, an increase in the filings during this period is not necessarily indicative of an increase in mortgage loan fraud activities during the same period.
CBS June 19, 2008
More than 400 real estate industry players have been indicted since March - including dozens over the last two days - in a Justice Department crackdown on incidents of mortgage fraud nationwide.
Thursday, February 26, 2009
An alternative to the traditional pet trust is a statutory pet trust, now available in the District of Columbia and 37 states and pending in several more. These simple, legally enforceable trusts can be established for minimal cost, as little as $50 or $100, as part of your will.
The article warns against caring for your pet in a testamentary trust since it must first go through probate before the funds are available. The preferred alternative is a living trust.
See also PetGuardian
DHLevinsonJ uly 09, 2008
Leona Helmsley leaves Eight Billion Dollars to the dogs
Tuesday, February 24, 2009
Message from the FDIC
FDIC Web Site Features Resources on How and Why to Save Money
Federal Programs Promoting Economic Recovery Via Financial Education
Promoting Financial Education at IRS Tax-Preparation Sites: Success Stories
FDIC Publication Helps Consumers Understand Changes in Deposit Insurance Coverage
New Spanish-Language Web Site Helps Depositors Understand Their Money Is Federally Insured
Congress has approved and the President has signed new economic stimulus legislation, the American Recovery and Reinvestment Act of 2009. The IRS is implementing tax-related provisions of this new program as quickly as possible.
Here are some key highlights:
$250 for Social Security Recipients, Veterans and Railroad Retirees. The Economic Recovery Payment will be paid by the Social Security Administration, Department of Veterans Affairs and the Railroad Retirement Board.
Money Back for New Vehicle Purchases. Taxpayers who buy certain new vehicles in 2009 can deduct the state and local sales taxes they paid.
Information on other provisions of the stimulus law will be available on the IRS Web site, IRS.gov, as they become available.
February 19, 2009 - Nationwide housing affordability surged at year-end 2008 to its highest level in at least five years, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI), released today.
The HOI indicated that 62.4 percent of all new and existing homes that were sold in the final quarter of 2008 were affordable to families earning the national median income of $61,500, up considerably from the 56.1 percent of homes that were affordable to such families in the previous quarter and the 46.6 percent of homes that were affordable to them at the end of 2007.
Saturday, February 21, 2009
Thursday, February 19, 2009
This video from the Wall Street Journal discuss the subsidy. Unemployed? Help Paying Cobra Benefits is on the Way
Tuesday, February 17, 2009
Saturday, February 14, 2009
Thursday, February 12, 2009
Are you the potential victim of a foreclosure scam? In this new web commercial from Freddie Mac, learn to spot a foreclosure scam and find out how to avoid becoming victim to home foreclosure fraud...
Tuesday, February 10, 2009
IRS TAX TIP 2009-26
There are several tax credits and benefits available to qualifying taxpayers with disabilities as well as to the parents of disabled children. Listed below are several tax credits and other benefits available if you or someone else listed on your federal tax return is disabled.
Sunday, February 8, 2009
Serious gaps and weaknesses have compromised consumer protection laws in most of the 50 states, and recent court rulings have opened the door to predators and abuses in billions of everyday transactions.
The report analyzes and summarizes the unfair and deceptive acts and practices (UDAP) laws that protect consumers in each state and the District of Columbia, and spotlights limitations in the substance and scope of the laws and in their enforcement. “State unfair and deceptive acts and practices laws provide the main defense against abuses in most consumer transactions,” said Carolyn Carter, an NCLC senior attorney and the author of the report. “Yet in some states these laws provide almost no protection to consumers.”
Saturday, February 7, 2009
1. Find out if you can get coverage through your spouse’s or domestic partner’semployer.
2. Find out if you can continue your coverage through COBRA.
3. Find out if your state has any laws or programs that could help you.
4. Find out if you are protected under another federal law called HIPAA (the Health Insurance Portability and Accountability Act).
5. Find out if you are eligible for Trade Adjustment Assistance and the HealthCoverage Tax Credit that comes with it.
6. Find out if you or any of your family members are eligible for Medicaid, the Children’s Health Insurance Program (CHIP), any other state or local program, or VA coverage.
7. If you can’t afford COBRA and you can’t get help through a public program or any of the options listed above, shop for insurance in the individual market— but do so with CAUTION.
Thursday, February 5, 2009
A new report, Health Care on a Budget: An Analysis of Spending by Medicare Households, finds that in 2006, out-of-pocket health care spending accounted for 14.1 percent of all expenditures for Medicare households – less than housing (34.1 percent) but about the same as transportation (15.0 percent) and food (13.6 percent). And, one in four Medicare households devotes more than one quarter of total household expenditures to health care. This group includes a disproportionate share of Medicare households that are low- and middle-income, have older members (age 75+), and are living in rural areas.
Tuesday, February 3, 2009
Sunday, February 1, 2009
The implications of this study—especially for how things might play out in the next few years—are notable. Precisely because difficult economic times make investors less willing to take risk, bad experiences can lead to a vicious circle. Investors, skittish because of recent —and in many cases massive—losses, can be loathe to put money back into markets even after they stabilize. “This can amplify recessionary effects, and prolong economic downturns,” said Nagel.