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Beacon: Foreclosure Struggles Linger in St. Louis
The Beacon recently reported on enduring foreclosure difficulties facing St. Louis residents. Though signs of economic recovery continue to pop up, many homeowners are still struggling to make ends meet. The piece is a sobering reminder that our economy is far from fixed. The article highlights Chris and Kelly Green, whose family of five has been [...]
Continue reading...Economic Planning in Cuba, MO
16. December 2009
The community leaders we spoke with during our trip to Cuba, MO had an extensive understanding of the city’s history and former problems. This video gives a brief overview of a previous economic crisis that devasted Cuba in the early 1980s. Several residents explain how Cuba recovered and, most importantly, what’s different today. You can [...]
Continue reading...November Job Report Yields Surprising Results
6. December 2009
On Friday the Labor Department announced a surprising shift in unemployment trends. According to the November job report, the U.S. economy lost 11,000 jobs and the unemployment rate fell to 10% from 10.2%. The New York Times reports that this is the strongest employment report since the recession began almost two years ago. These numbers [...]
Continue reading...Two Perspectives on Higher Education during the Recession
4. December 2009
The Public Insight Network has served Channel 9 well in helping us gauge the effects of the mortgage crisis on the St. Louis community. We recently sent out an email asking members to describe how the recession has affected their college plans. The responses of two residents show ways the community is adjusting to the [...]
Continue reading...Federal Housing Administration Announces New Standards for Lenders
2. December 2009
On Monday, the same day that the Obama administration announced its plan to pressure mortgage companies to modify more loans for homeowners, the Federal Housing Administration proposed stricter rules for lenders. The FHA is a government agency that provides mortgage insurance on loans made through its approved lenders. USA Today reports that this year [...]
Continue reading...Community Spirit in Cuba, MO
1. December 2009
The second in our series highlighting the success of Cuba, MO during the recession, this video focuses on the town’s rich community spirit. The leaders we talked to couldn’t say enough about the closeness of the residents and how neighbors help each other through tough times. Watch the video to see how such togetherness helped [...]
Continue reading...Children and Financial Literacy
16. November 2009
The earlier kids begin learning about money and the ins and outs of financial literacy, the more likely they are to be responsible spenders in the future. It can be difficult to begin this discussion, but with all of the resources now available, it’s easier than ever to prepare your children for successful financial futures. [...]
Continue reading...The Recession Takes a Toll on Children
13. November 2009
Among the many consequences of the recession are the emotional and psychological problems that can develop in those who have been affected by the economic downturn. These problems are also prevalent in children affected by parental job loss. Children understand much more than parents might think and often bear this burden silently. Their struggles are [...]
Continue reading...The Dangers of Using 401(k) Funds and the Need to Seek Help Early
12. November 2009
MSNBC posted an article last week describing the dangers of withdrawing cash from your 401(k). People who are recently unemployed or have had their hours reduced may no longer have the money to pay their mortgage or other bills. In these situations, dipping into the 401(k) has strong appeal, and most people want access to [...]
Continue reading...“The Real Demographics of Recession” at the St. Louis Fed
10. November 2009
Last week, I attended “It’s More than a Man-cession: The Real Demographics of Recession” at the Federal Reserve Bank of St. Louis. The event was inspired by the recent report by Howard Wall, an economist with the Fed, which explores how the recession is affecting different groups of people with an emphasis on the apparent [...]
Continue reading...Take Action
Audio / Video
The St. Louis Beacon posted a new segment in their Job Talk series earlier this week. This report describes GO! Network and its work to help unemployed professionals in St. Louis. The economic downturn has led to unemployment among groups who have never before had to worry about paying their bills on time. Among them [...]
Reverse mortgages are a complicated product and aren’t appropriate for everyone. In our final video of the series, Buz describes the basic considerations that seniors must make when determining if a reverse mortgage is right for them. We hope you’ve enjoyed these videos. A huge thanks to Buz Zeman for talking with us. Additional information on reverse [...]
The explosive popularity of reverse mortgages and the flood of advertisements that followed have spread a number of misconceptions about reverse mortgages. Buz addresses a number of them in this video, explaining what reverse mortgages are and aren’t. He also talks about popular scams and how to avoid them. Look for the final video of [...]
Several weeks ago, Lauren had a conversation with Buz Zeman of Housing Options Provided for the Elderly (HOPE), an organization that counsels seniors on mortgages and other housing issues. Buz said that he has had to devote much of his time lately to explaining reverse mortgages. Though this sort of loan is not new, it’s [...]
In this video, St. Louis Mayor Francis Slay suggests that anyone facing foreclosure or in trouble with their mortgage seek assistance and determine if they are eligible for the Refinance and Loan Modification program. More information can be found at www.makinghomeaffordable.gov.
In this video, St. Louis County Executive Charlie Dooley encourages those facing financial hardship or anyone who fears losing their home to seek assistance. Tax-payer funded, HUD-certified housing counselors offer services at no charge, and can assist someone facing foreclosure with discussing options with their lender. For information or to connect to resources, call the [...]
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- The Beacon’s Series on the St. Louis Area Foodbank
- Good News in March Unemployment Numbers
- Lessons from the Wright Family on Seeking Help
- Staring a Business – Upcoming Workshop from the Urban League
- New Employment Resource from Ready, Aim, Advocate!
- Walking Away from Underwater Mortgages
- Beacon: Foreclosure Struggles Linger in St. Louis
- From the Beacon’s Job Talk: GO! Network
- Reverse Mortgage Considerations
- Job Talk from the St. Louis Beacon
© 2010 Facing the Mortgage Crisis
in Partnership with the CPB.
11. February 2010
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