Tag Archive | "USA Today"
Federal Housing Administration Announces New Standards for Lenders
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...Libraries: Valuable resources in tough economic times
Wednesday, September 9, 2009
At a time when financial concerns have forced many people to cancel their home Internet subscriptions, libraries across the country are stepping-up and providing valuable computer services. USA Today reports that the nation’s libraries have been packed with people using computers to fill out job applications, write resumes, or search for employment. In many communities, [...]
Continue reading...Paying Utility Bills in a Tough Economy
Wednesday, August 26, 2009
We’re all affected by the economy in many ways–if you’ve lost your job, had your hours cut, or taken a pay cut, it makes it difficult, and sometimes even impossible, to pay your mortgage, buy groceries, and pay utility bills. USA Today reported that more and more people are having their power shut off, presumably because of the [...]
Continue reading...Unemployment Driving Foreclosure
Friday, August 21, 2009
When the mortgage crisis began, a large number of foreclosures were due to subprime loans and adjustable rates. But now as the financial crisis has grown, more and more foreclosures are due to job loss. I found this article in USA Today this morning that reports “one in three new foreclosures between April and June [...]
Continue reading...New Credit Card Law: Parts Taking Effect Today
Thursday, August 20, 2009
USA Today reports that part of President Obama’s new credit card legislation takes effect today. The new law will provide consumers with more information—for example, credit card companies now have to give 45 days notice before changing fees or interest rates. The rest of the law will take full effect in February 2010. For more [...]
Continue reading...Report Released Today on Mortgage Companies
Tuesday, August 4, 2009
This morning the Obama administration released its first in a series of monthly reports on mortgage servicers. The report is part of an effort to pressure mortgage companies into modifying more loans for homeowners. According to the administration, the progress of these loan modifications is “uneven”. USA Today reports that JP Morgan Chase is helping [...]
Continue reading...Parents Get Creative this Summer with “DIY Camps”
Monday, August 3, 2009
In these tough economic times, sending kids to summer camp is simply not possible for many families. That doesn’t mean that parents aren’t making the most of the summer for their children. USA Today reported Friday on “DIY camps”— do-it-yourself camps organized and run by parents for their children and their children’s friends. One woman, [...]
Continue reading...Unemployment Leads to More Foreclosures Across the Country
Tuesday, June 23, 2009
A new wave of foreclosures is affecting areas of the country not previously hard-hit by the mortgage crisis. USA Today reports that these foreclosures are different from the foreclosures at the beginning of the mortgage crisis in 2007. Instead of being caused by risky subprime lending, the recent increase in foreclosures is due to rising [...]
Continue reading...Foreclosures Increase for Prime Borrowers
Tuesday, June 9, 2009
Since the beginning of the mortgage crisis, many experts have blamed the explosion in foreclosures on risky sub-prime loans. But USA Today reported recently that the rate of foreclosure for prime borrowers has been increasing, mainly because of rising unemployment rates. To read the rest of the article, CLICK HERE. If you or someone you [...]
Continue reading...USA Today: Managing your health through crisis
Wednesday, February 4, 2009
This week an article appeared in USA Today that highlighted the effects of the economy on our health. When times are tough, stress levels increase and many people experience depression. Our partners have said that in times like these it’s easy to overlook your health—when you’re dealing with financial troubles, they are at the [...]
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.
Wednesday, December 2, 2009
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