News

2009

December

01

• Treasury steps up pressure on lenders to modify mortgages. The Obama administration on Monday promised tougher scrutiny of lenders participating in its marquee foreclosure-prevention effort and threatened to penalize companies that don't do enough to help struggling homeowners. The move is aimed at breaking

November

30

• LED bulbs save substantial energy, study finds. Does the latest generation of energy-saving light bulbs save energy? A comprehensive study conducted by Osram, the German lighting company, provides evidence that they do. While that may seem self-evident, until the release of the

29

• Obama to push lenders on foreclosure prevention. The Obama administration plans to announce on Monday efforts to step up pressure on lenders participating in its massive foreclosure prevention program in a push for transparency that should provide new details about the industry's

28

• The moral dimensions of ditching a mortgage. Go ahead. Break the chains. Stop paying on your mortgage if you owe more than the house is worth. And most important: Don't feel guilty about it. Don't think you're doing something morally wrong. That's

26

• Consumer Action wishes you a great Thanksgiving. No news headlines will be posted today and Friday, Nov. 27. The staff and board of Consumer Action hope you enjoy your holiday.

24

• One in four borrowers is underwater. The proportion of U.S. homeowners who owe more on their mortgages than the properties are worth has swelled to about 23%, threatening prospects for a sustained housing recovery. Nearly 10.7 million households had negative equity in

• Chinese drywall linked to corrosion in homes. Federal investigators reported on Monday that a “strong association” exists between chemicals in Chinese drywall installed in thousands of homes during the housing boom and electrical problems in those homes. In addition, investigators said that

23

• Renters become latest victims of foreclosures. A new wave of foreclosures stands to hurt people who may have never taken out a mortgage: renters. In cities such as New York, Chicago and Los Angeles, where many investors are carrying upside-down mortgages

• Las nuevas víctimas de la crisis hipotecaria. Una nueva ola de ejecuciones hipotecarias afectará a personas que tal vez nunca hayan tenido una hipoteca: los inquilinos. En ciudades como Nueva York, Chicago y Los Angeles, donde muchos inversionistas tienen hipotecas con plusvalí

22

• Financial advice from the divorce trenches. Nobody can relate to the raw, visceral experience of ending a marriage better than someone who has gone through it. So it only seemed right to end my series of columns on money and divorce

19

• Middle class bankruptcies rising. Staci Schubert's career has taken her from New York to California, from graphic designer to website designer to sales executive. Most recently, she launched a business as a designer of handbags and accessories. At 40 and

• Another wave of foreclosures looms. A second wave of foreclosures is poised to hit the market, potentially undermining housing recovery efforts as more homes add to the glut of inventory and drive down prices. These homes largely represent loans that

15

• Financial decisions to make as you divorce. Divorce may be one of the most damaging financial events in the lives of those who go through it, but that isn’t always immediately clear to a couple about to split up. In fact,

• Tax relief to snag before year ends. You have about six weeks left to make moves to cut your tax bill in the spring. Besides the usual tax strategies, such as making charitable donations before year's-end, you might be able to take

14

• New tax credit may be worth pouncing on. Take a close, hard look at the new $6,500 federal tax credit for "move up" home buyers that passed the Senate and House last week. Though it's been getting second billing to the original $8,000 credit for

12

• 5 ways to kill your credit scores. One of the questions I'm asked most often about credit scores is exactly how much certain actions affect people's scores. What good is a good credit score? Until now, the best I could do was

• Dodd proposes single bank regulator. Sen. Christopher J. Dodd (D-Conn.) this week joined the generations of dreamers who have advocated for eliminating the nation's muddle of bank regulators, arguing that a single agency would be more efficient and would end

10

• Tax credit sparks homebuyers' questions. As soon as Congress passed legislation to expand the $8,000 first-time homebuyer credit, readers started sending in questions about whether they would qualify under the new rules. The legislation, signed into law last week, gives people

08

• Facing foreclosure? Here's what you can do. Reporting from Washington - For most of the growing legion of financially stretched families in danger of losing their homes, there is help available -- as long as they don't bury their heads in the

• A free credit score, and a monthly bill. On television it’s hard to miss the wildly popular band of slackers singing ruefully from a shabby apartment or while waiting tables in pirate regalia. The ruined credit that led to their financial misfortune