List/Grid Tag Archives: economy

Improve Your Job Search By Repairing Your Credit

Few people realize that having a high credit score can be beneficial when searching for a job. While it is obvious that a high credit score will affect getting a loan, the fact is that by law an employer can refuse to hire an applicant based solely on their credit report. Employers may feel that credit history is a fair representation of a potential employee. They may believe that responsibility, judgment and even work performance is reflected on a credit report. Perhaps credit history could be an indicator of the type of employee someone will be. However, ...
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Unemployment and Politics

The unemployment extension package finally passed Congress but without any help from the Republicans who have stated that the unemployed are “spoiled”, have a disincentive to work, don’t want the jobs that are available, are “hobo’s”, and who will just take their unemployment benefits and “blow it on drugs”. Republican Sharron Angle, running for Senate in Nevada: “We have put in so much entitlement into our government that we really have spoiled our citizenry and said, you don’t want the jobs that are available.” Sen. ...
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One Page Mortgage Disclosure

If you have ever purchased a home with a mortgage, you will remember the stacks upon stacks of papers you needed to sign, bothe during the loan application and the closing, all the while supposedly knowing everything each paper said, even while there was not time to read them. Well now, Elizabeth Warren, the woman tapped by the President to create the Consumer Financial Protection Bureau, has stated that one of the first orders of business for the new Consumer Financial Protection Bureau is the create a one-page disclosure form for all home buyers. ...
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Document Your Receipts

It’s the last week to file your taxes if you are going to make the April 18 deadline for the year 2011. And while many who were expecting a huge refund may have completed this onerous task clear back in January or early February, those of us who know that they will end up paying typically put it off till around the last minute. That turned out to be last Friday for me. “Document your receipts” was the advice I received from my tax man. Being self-employed I need to and can take deductions for everything from my home office to paying ...
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Consumers Cutting Back On Credit Cards

According to a new study from the credit bureau, TransUnion, there are as many as eight million credit card accounts that are deemed “incactive” today. The inactive accounts are believed to have contributed to the 24.6% decrease in U.S. Credit card delinquency rates. The majority of the inactive cards were in the “high risk” category but consumers in every category have been cutting back and using credit cards less. Cash and debit card use has increased while the use of credit cards has declined contributing to softer profits for the credit ...
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Double Dip In The Housing Market

Housing prices in many cities across the nation are at their lowest level in years. And while everybody has a theory as to why and the comments on the Internet have people blaming the banks, the homeowners, the legislature, the government, the truth probably lies somewhere in the middle. The fact is that is will most likely get much worse before it gets better. It is inevitable as there is an estimated 5 million mortgages right now that are at least 2 months in arrears. And there is also a huge inventory of foreclosures now that are already in ...
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Was “Flip That House” A Sign Of An Upcoming Mortgage Crisis?

In a 2005 meeting between economists and then Federal Reserve Chairman Alan Greenspan as the housing market was continuing to inflate a chief economist named David Stockton remarked about how he had come across a television show where the “gist of the show was that with some spackling , a few strategically placed azaleas and access to a bank, you too could tap into the great real-estate wealth machine. It was enough to put even the most ardent believer in market efficiency into existential crisis”. See Huffpo article- Fed Economist to Greenspan ...
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Will 2011 Be The Peak Of The Foreclosure Crisis?

Real Estate analysts from RealtyTrac Inc. are predicting that 2011 will be the height of the Real Estate crisis with an expected 1.2 million homes being repossessed. Lenders are poised to take back more homes than at any other time since the crisis began in 2006. At this time there are 5 million borrowers who are at least 2 months behind on their house payments and in the month of December 257,747 homes in the United States received at least one foreclosure-related notice. While the pace slowed during the last quarter of 2010 due to the banks ...
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