Headline News Archive
2009
January
07
- A rush to refinance homes. The economic turmoil of 2008 has left few bright spots, but here's one: Mortgage rates have plummeted. Rates on 30-year, fixed loans are hovering around…
- IRS changes offer relief to delinquent taxpayers. The IRS unveiled a series of initiatives Tuesday aimed at helping people who can't pay their taxes because they're unemployed or experiencing other financial hardships.…
06
- Free heating oil program suspended. Citgo has suspended its free heating oil program for low-income residents, Citizens Energy Chairman Joseph Kennedy announced Monday. Kennedy said the Venezuelan government's Texas-based oil…
- Bankruptcy filings jump one-third in 2008. U.S. consumer bankruptcy filings jumped nearly 33% in 2008 amid a recession that's expected to keep filings rising into the new year. Overall consumer filings…
05
- Pawn shops see surge in well-to-do clients. PHILADELPHIA - At Society Hill Loan, a pawnshop in a middle-class neighborhood here, a steady rain fell outside as a fashionably dressed young man parked…
04
- Time to drop 'consumer' label?. One of my New Year's resolutions is to stop referring to myself as a consumer. The idea for the resolution actually came from reader Tom…
03
- Jumbo mortgage rates aren't falling. Borrowers looking to take advantage of record-low interest rates may be out of luck if they need a home loan that exceeds $625,500. The average…
2008
December
31
- Consumer Action wished you a Happy New Year!. Happy New Year! The Consumer Action staff has the day off today. News posting will resume tomorrow and will include notable stories published on Jan.…
- October home prices fall across USA. Home prices in several major cities plummeted at the fastest annual rate on record as mounting unemployment and a rapid pace of foreclosures hampered a…
28
- Tips for finding a credit counselor. Debt. Banks have it, big time, as a result of bad investments, but they're getting a helping hand from the federal government. If you have…
- Don't risk your home to pay for college. Dear Liz: We owe $127,000 on a home that's currently worth more than $300,000. We have a daughter entering college in fall 2010. Her first…
- Advocates hope watchdog agencies get more bite. You'll be safer in 2009. At least that's the expectation of consumer watchdogs who believe the changing of the guard at the White House in…
27
- Read the fine print on mortgage rates. With mortgage rates at historic lows - 4.75 percent from several lenders in mid-December - a new legal settlement from the Federal Trade Commission offers…
26
- Firms charge thousands to modify mortgages. A growing industry has emerged to take advantage of the unprecedented wave of foreclosures, charging distressed homeowners for help negotiating better loan terms -- a…
25
- Consumer Action wishes you Happy Holidays!. The Consumer Action staff has the day off. News posting will resume Dec. 26.
24
- Forecasters economic predictions for 2009. It may come as a surprise, given all the bad news of late, but the U.S. economy is expected to emerge from the recession sometime…
- Recession propels skid in housing sales, prices. The housing market weakened dramatically in November, with prices taking their deepest dive in at least 40 years as buyers refused to wade back in…
23
- Lenders cite gains on loan relief. A government-backed alliance of mortgage lenders yesterday said it kept 2.2 million homeowners out of foreclosure this year, even as a separate report showed that…
21
- More lenders allow 'early workout' loan alterations. Here's some good news for homeowners facing tough financial times: You no longer have to miss two to three months of payments before your…
19
- Owners find themselves trapped underwater. Michael and Cynthia Russell wanted to move to New York City, where they both work. Jobs are more plentiful there than in their town of…
- Lawsuit filed against Countrywide over ID breach. A New Jersey couple is suing Countrywide Financial Corp. and two other people claiming the company allowed a security breach involving detailed financial information from…
- 30-year mortgage rates sink to lowest on record. Interest rates on 30-year fixed rate mortgages dipped to their lowest level in at least 37 years after the Federal Reserve this week reaffirmed its…
18
- Homeowners face foreclosure limbo. She may live in an epicenter of the U.S. housing crisis, but Vickie Lewis is far from any stereotype conjured up in coverage of the…
17
- How the Fed's shock-and-awe move could affect you. The Federal Reserve tried for a major shock-and-awe effect with its interest rate cut and other moves Tuesday aimed at rescuing the economy from a…
16
- The Crash: what went wrong?. When the housing market began to tank in 2005, Wall Street ran through the yellow light of caution and created even riskier investments -- and…