Want to Buy an Expensive House? Get Ready to Pay More

Mortgages

Want to Buy an Expensive House? Get Ready to Pay More

Want to Buy an Expensive House? Get Ready to Pay More

Beginning on October 1, the Federal Housing Administration, as well as mortgage-backing government-controlled businesses Fannie Mae and Freddie Mac, will cut the maximum size of the home loans they guarantee to $625,500, down considerably from the current limit of $729,750, according to a report from the Bergen Record. The difference will be considerable, as government-supported… Read More

Warren Praises CFPB as Senate Preps for Battle

Personal Finance

Warren Praises CFPB as Senate Preps for Battle

Warren Praises CFPB as Senate Preps for Battle

In her going-away letter, Elizabeth Warren, the woman credited with creating the nation’s newest consumer watchdog agency, praised her employees for a successful kickoff—even as a leading member of Congress blamed Warren’s departure on sexism, and the man picked to replace her gears up for a potentially explosive confirmation battle. Warren sent her letter in an… Read More

Financial News Roundup: Retirement Concerns Exaggerated, Frugality Becomes the Norm

Personal Finance

Financial News Roundup: Retirement Concerns Exaggerated, Frugality Becomes the Norm

Financial News Roundup: Retirement Concerns Exaggerated, Frugality Becomes the Norm

Today’s top news headlines feature reasons experts think the retirement crisis is blown out of proportion and the most recent consumer confidence figures. Plus, find out why Americans’ new found sense of frugality may be here to stay. Americans Adopt Frugal Attitude Toward Spending CNN Money The recession prompted many households to greatly reduce their… Read More

Consumer Financial Protection Bureau: We Won’t Hurt Small Business

Personal Finance

Consumer Financial Protection Bureau: We Won’t Hurt Small Business

Consumer Financial Protection Bureau: We Won’t Hurt Small Business

As the fight over who will lead the nation’s newest consumer protection agency heats up, Republicans are trying out a new line of attack in their ongoing efforts to limit the agency’s power: That the Consumer Financial Protection Bureau could hurt small businesses. Last week, a Congressional subcommittee grilled Dan Sokolov, deputy director of the… Read More

Using Your Options During a Financial Crisis

Personal Finance

Using Your Options During a Financial Crisis

Using Your Options During a Financial Crisis

When a financial disaster strikes, whether it be a medical emergency or overwhelming credit card bill, it’s important to research your options and take action immediately. Formulating a step-by-step plan can help you explore different repayment avenues and gain a handle on your finances. Know What You’re Dealing With Before you take any action, analyze… Read More

With Debt Concerns Looming, Some Advocates Axing Mortgage Tax Break

Mortgages

With Debt Concerns Looming, Some Advocates Axing Mortgage Tax Break

With Debt Concerns Looming, Some Advocates Axing Mortgage Tax Break

Republicans and Democrats are firmly entrenched in their positions on the debt ceiling debate that’s currently raging in Washington, but a group of economists say one way to save a lot of money is to eliminate a tax deduction for mortgage interest payments, according to a report from Miller-McCune. The savings for the government would… Read More

AG: For-Profit Schools Lied, Left Students in Debt Trouble

Students

AG: For-Profit Schools Lied, Left Students in Debt Trouble

AG: For-Profit Schools Lied, Left Students in Debt Trouble

A for-profit chain of universities lied about the quality of its education and forced students to buy textbooks and supplies from its schools at inflated prices, according to a lawsuit filed Wednesday by Kentucky Attorney General Jack Conway. The company, Daymar Learning Inc., allegedly told prospective students that course credits earned at Daymar schools would… Read More

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