Fannie, Freddie Won’t Be Eliminated by Lawmakers

Mortgages

Fannie, Freddie Won’t Be Eliminated by Lawmakers

Fannie, Freddie Won’t Be Eliminated by Lawmakers

Currently, Fannie and Freddie back more than half of all mortgages nationwide, with loans valued at more than $5.3 trillion, according to a report from the Washington Times. Consequently, the fact that the two home loan giants have lost about $150 billion since being taken over by the federal government – a figure that could… Read More

Turn Your Phone Into a Credit Card Swiper

Credit Cards

Turn Your Phone Into a Credit Card Swiper

Turn Your Phone Into a Credit Card Swiper

This summer, you will be able to turn your cell phone into a credit card swipe machine. Jack Dorsey, creator of Twitter, has created the Square, a tiny square-shaped (of course) doohickey that plugs into an iPhone and can read the magnetic stripe of credit and debit cards. The Square uses an app to transfer… Read More

Why You Need to Teach Kids about Credit

Credit Cards

Why You Need to Teach Kids about Credit

Why You Need to Teach Kids about Credit

I’ve recently been getting offers for prepaid debit cards targeted at young teens. Here’s the first sentence of one I got a few days ago: “It’s not always convenient to give teens money when they need it.” No kidding! This offer was targeting my 14-year-old son, but the letter was addressed to me and it’s… Read More

Bank Failures Continue

Personal Finance

Bank Failures Continue

Bank Failures Continue

The largest bank in New Mexico failed late last week and was taken over by federal regulators. It was the 17th bank failure so far in 2011, according to a list published by the Federal Deposit Insurance Corporation, indicating that problems continue for some small and mid-sized regional banks. First Community Bank of Taos, N.M.,… Read More

Financial Responsibility: A Reaction or A Reality?

Personal Finance

Financial Responsibility: A Reaction or A Reality?

Financial Responsibility: A Reaction or A Reality?

In five short years we’ve gone from no borrower left behind, to no borrower left standing… and even those borrowers who somehow managed to claw their way back onto the train were often unceremoniously flung back off the trestle.  It seemed that no one, except for a few dozen guys at Goldman Sachs, was safe…. Read More

Job Seekers Should Guard Private Information To Avoid Scams

Identity Theft

Job Seekers Should Guard Private Information To Avoid Scams

Job Seekers Should Guard Private Information To Avoid Scams

The most recent unemployment figures show a small decline in the number of jobless Americans; however, the national rate continues to hover around 10 percent. Separate reports also reveal the number of individuals who, as of December 2010, have been unemployed for more than a year increased from 25 to 30 percent. And now, job… Read More

The 9 Worst Cities for Foreclosure

Mortgages

The 9 Worst Cities for Foreclosure

The 9 Worst Cities for Foreclosure

Las Vegas got pummeled – again – by foreclosures in 2010, with nearly one out of every nine housing units in the area getting foreclosed on last year. Miami posted the fifth-worst rate of foreclosures in 2010, with 7% of all houses getting foreclosed upon. But the total number of foreclosure there, 171,704, was far… Read More

Under 18? No Credit Card For You!

Students

Under 18? No Credit Card For You!

Under 18? No Credit Card For You!

Generally speaking I’m no fan of age discrimination, but getting a credit card before you’re a technical “adult” is just asking for trouble and shouldn’t be allowed. Seriously, what good comes of giving a 17 year-old a credit line? Even if the teen is bringing in some income from his or her part-time job at… Read More

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