"Direct mail offers are flowing for business credit cards, many with attractive promotional interest rates and balance transfer deals...while there are many reasons to open an account, there can be substantial risks involved."More info
"State lawmakers are pushing a measure that would protect future homebuyers from risky and high-cost mortgages. But their proposal doesn't address the thousands of South Carolina homeowners who are struggling to make monthly payments right now.
State governments across the country have stepped in to help families facing foreclosure by creating emergency loan funds and designating millions of dollars for counseling efforts. The response stems from a lack of action from federal lawmakers, who have yet to agree on a plan.
Such statistics have prompted some state governments to take action. "They have had to act," said Kil Huh, who helped write a Pew Charitable Trusts report on how states have tried to fix the foreclosure crisis. 'They are on the front lines of dealing with the aftermath of the subprime crisis, which has turned into the foreclosure problem that we now face. Not only are people in danger of losing their homes, but their neighborhoods are losing value.'"
View S.C. Slow to Help in Home Crunch on the Post and Courier site.
- Date added:
- Apr 29, 2008
- Subprime Mortgages
Eleni Constantine, director of the Pew Health Group’s financial security portfolio, issued the following statement in support of legislation creating an “automatic IRA,” S. 3760, introduced by Sen. Jeff Bingaman (D-NM) and H.R. 6099, introduced by Rep. Richard Neal (D-MA).More info
“The student loan proposal announced by the President today could not come at a better time, as the weak economy and high unemployment are making it harder than ever for people to make monthly payments on their student loans."More info
Yesterday the U.S. Department of Education released a preview of college “cohort default rates” for federal student loans using a more robust methodology that will take effect in 2011.More info
The Project on Student Debt's fourth annual report on the student loan debt of new college graduates. The analysis of the most recent available data found that student debt continued to rise even as it got harder for recent graduates to find jobs, and that debt levels vary considerably from state to state and college to college.More info
Despite the availability of federal money, many students rely on private loans from banks. According to TICAS's Project on Student Debt, the proportion of undergrads who took out such loans jumped from 5 percent in 2003–04 to 14 percent in 2007–08.More info
Starting July 1, borrowers will have a new option: a repayment program that caps monthly payments based on income. It targets borrowers who would have a hard time paying basic living expenses if they had to make standard monthly payments on their loans, says Lauren Asher, acting president for the Project on Student Debt.More info
J. Mark Iwry Joins Treasury as Senior Advisor to the Secretary and Deputy Assistant Secretary for Retirement and Health Policy
The Retirement Security Project announced today that J. Mark Iwry, Principal of The Retirement Security Project, Nonresident Senior Fellow at the Brookings Institution, and former Treasury Department official, has been appointed by Treasury Secretary Timothy Geithner as Senior Adviser to the Secretary and Deputy Assistant Treasury Secretary for Retirement and Health Policy, effective April 27, 2009.
President Obama’s Budget Includes Automatic IRA Proposal and Expansion of Saver’s Credit for 401(K) IRA Savings
The Administration’s budget outline, released today, includes the Automatic IRA proposal developed by the Retirement Security Project.More info
One in 18 homeowners in Arizona is estimated to be in foreclosure by the end of 2010, as a result of a subprime-related loan. Years of easily accessible credit and relatively low home prices that facilitated homeownership in the state have ended, leaving in their wake stricter lending terms and stagnating home appreciation.More info
McCain and Obama Agree on an Important Policy Proposal – The Retirement Security Project's Automatic IRA
In the midst of a campaign with opposing views on most aspects of domestic policy, the presidential candidates have now both endorsed the Automatic IRA.
As traditional pensions fade from the retirement landscape and workers are forced to take a lot more responsibility for their own financial futures, employers are rolling out a variety of features to help workers prepare for retirement.
There's no shortage of retirement-savings services for the affluent. But for those who fall in the middle of the wage scale or lower, it's a different story.
"Frustrated by the slow pace of federal relief, states around the country are pouring hundreds of millions of dollars into their own programs to stem the rising tide of home foreclosures."