Tag Archive | "Facing the Mortgage Crisis"
U.S. Mortgage Delinquencies Reach Record High
TransUnion, a credit-reporting agency based in Chicago, recently released its trend data for the third quarter of 2009. According to the report, 1 in every 22 mortgages in the St. Louis metro area was at least 60 days past due. That’s 4.5% of all mortgages for the area, or over two times more than the [...]
Continue reading...Children and Financial Literacy
Monday, November 16, 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
Friday, November 13, 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...Neighborhood Stabilization in Ferguson
Wednesday, November 4, 2009
The St. Louis Beacon recently reported on the tireless efforts of Rosalind Williams, the director of planning and development for the city of Ferguson. Williams spends a great deal of her time on the hunt for foreclosures that have been on the market for at least 90 days. More specifically, she looks for small, one-story [...]
Continue reading...Rethinking Homeownership
Monday, November 2, 2009
Another recent article in the series “Race, Frankly”, from The St. Louis Beacon, takes a different look at how minorities have been affected by the mortgage crisis. According to Amaad Rivera of United For a Fair Economy, Latinos, blacks, and Asians have lost an estimated $164 billion to $213 billion due to sub-prime loans (in [...]
Continue reading...The Mortgage Crisis and Minority Communities
Friday, October 30, 2009
In the new series “Race, Frankly”, The St. Louis Beacon explores issues of race and the many ways they affect the St. Louis community. In a series of stories, reporter Mary Delach Leonard recently examined how the mortgage crisis is affecting local minorities. The root of the problem stems from the housing discrimination that began [...]
Continue reading...Senator Claire McCaskill Discusses the Financial Aid Process
Wednesday, October 28, 2009
In tough times, it is especially difficult to pay for college. Now, lawmakers are addressing the issue as more and more families require financial aid to send their children to school. Last Friday, Senator Claire McCaskill (D-MO) held a videoconference on financial aid. The conference gave college and high-school officials, college counselors, parents, and students [...]
Continue reading...Dramatic Rise in September Home Sales
Friday, October 23, 2009
On Friday the National Association of Realtors announced that September home resales increased by 9.4%—the largest monthly increase in 26 years. Encouragingly, these figures for September sales exceeded Wall Street forecasts. A recent article from the Associated Press reports that this jump is a result of consumers rushing to purchase homes before the tax-credit incentive [...]
Continue reading...Personal Finance Classes Increasingly Popular on College Campuses
Wednesday, October 21, 2009
Depending on their course of study, college students spend four years learning about everything from the genetic code to differential equations to Renaissance literature—and anything in between. Yet many students graduate unprepared to make decisions about their own finances. NPR’s Morning Edition recently aired a story that proves this trend is beginning to change on [...]
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 [...]
From the Beacon’s Job Talk: GO! Network- Hope Is Moving In - New initiative to fight homelessness
- November Job Report Yields Surprising Results
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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.
Monday, November 23, 2009
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