mortgages

Mortgages Snare Bigger Share of Boomers’ Earnings

Posted on 01/22/2013 by | Money and Work | Comments

Bulletin Today | Money & SavingsRemember how our parents paid off their homes and then retired? Fewer of us are doing that today. What’s more, our house payments are taking a bigger chunk of our earnings than they did a decade ago, according to an AARP report. Older, middle-income families spent 30 percent or more of their income on housing, up from 20 percent in 2000, the report finds. The median monthly cost: $1,460, up from $1,277 in 2000. Sure, the recession set many families …

Thanks to Federal Reserve, Free Foreclosure Reviews Available to Some

Posted on 10/4/2012 by | Volunteering | Comments

Money & Savings  If your home was at any time in 2009 or 2010 involved in the foreclosure process, you may be eligible for compensation if mistakes were made by your lender or loan servicer.  A free Independent Foreclosure Review can determine whether you are eligible for compensation, but you must request it before Dec. 31, 2012. Home-loan borrowers whose primary residence was involved in the foreclosure process between January 1, 2009 and December 31, 2010 may request a free review.  A …

Boomers Spending Less on Leisure, More on Education, Mortgage Interest, Adult Kids

Posted on 09/13/2012 by | Brooklyn, NY | Comments

Money & Savings | News RoundupsThese days, keeping up with the Joneses is more likely to involve night classes than a new sofa. A study on boomer spending habits found middle-aged adults today spend less on leisure and frills than previous generations but more on education, adult children and mortgage debt.

The Takeaway: Local Governments Seize Homes Over Tiny Tax Debts

Posted on 07/10/2012 by | Brooklyn, NY | Comments

News RoundupsOwing as little as $400 in unpaid property taxes has gotten some American homeowners booted from their houses, according to a report released today by the National Consumer Law Center.

A Lifetime of Debt

Posted on 05/7/2012 by | The Ultimate Cheapskate | Comments

Money & SavingsGrowing up 40 years ago, one of my favorite pastimes was playing The Game of Life, the classic Milton Bradley board game that takes players through their simulated lives – from college to retirement – with make believe jobs, families, and other life-changers all along the way.  It was always a lot fun to play, and it gave me a chance to fantasize a little about what my own real-life future might be like. The other day I ran across …

The Takeaway: New Refinancing Help For ‘Underwater’ Homeowners; Stretching Helps Chronic Back Pain

Posted on 10/25/2011 by | Brooklyn, NY | Comments

News RoundupsHelping Homeowners Tread Water: Meeting yesterday with distressed homeowners in Las Vegas—the ‘foreclosure capital of the nation’—President Obama unveiled a plan to allow homeowners who owe more than their properties are worth to refinance mortgages at today’s low rates, which are hovering near 4 percent. If you think this has shades of 2009 all over it—well, you’re right: The new plan is a revised version of the previous Home Affordable Refinance Program—which didn’t have as much effect as the administration would …

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