June 2012

Obamacare Reforms Upheld

Yesterday, John Roberts of the Supreme Court ruled that many of Obama’s healthcare reforms would be upheld. There had been a great deal of controversy surrounding the decision, and it seems that this is the best course of action. It benefits Americans from a wide range of backgrounds and in various financial situations, and it is great to see the reform moving forward. 

Student Loan Rates Could Increase

Today, post-secondary education is necessary for success in the working world. Regardless of the type of job market you want to enter, it is now essential to receive education on the subject. It has never been more important to attend a post-secondary institution, and rising costs of tuition reflect this.

A recent report from the Consumer Financial Protection Bureau found that student debt had reach $1 trillion over the course of last year. As such, many former students are having a difficult time paying off their debt after they have left school.

Are Anti-Foreclosure Laws Hindering Economic Recovery?

During 2008, state governments enacted laws that would protect homeowners from eviction. The measure was seen as beneficial to both homeowners and the housing market; however, financial analysts now have reason to believe that these laws are slowing down the process of economic recovery.

According to the Financial Post, U.S. Federal Reserve study has determined that judicial reviews for foreclosure do not bear any long-term benefits. In fact, they have been proven to prolong the recovery process for the struggling housing market in America.

30-Year Mortgage Rates Fall to All-Time Low

The economic downtown has had some very negative effects on America’s housing market over the course of the past few years. However, decreasing mortgage rates indicate that there is, indeed, a light at the end of the tunnel. According to a recent report in USA Today, 30-year mortgage rates have fallen to an all-time low, which will be the boost that the housing market has been needing.

Retired Workers Will Have to Pay For Insurance

Illinois has one of the most generous insurance policies for retired workers. Retired professionals from a wide range of job markets do not have to pay for their health insurance, but a new law will see to it that they will have to chip in for a portion of their plans. 

Credit Card Providers See Improvement in Customer Behaviour

Over the course of the past few months, credit card providers have experienced fewer issues with cardholders. Since the year began, credit card providers have seen a decrease in the number of delinquent payments and charge-offs, as card holders seem to be better behaved.

Discover, Bank of America and Capital One have all seen a decrease in the amount of late payments they have received from customers. Late payment frees can incur some hefty fines for cardholders; so, it seems that they want to get their payments under control in order to avoid unnecessary charges.

Mortgage Applications Increase in Florida

When it comes to mortgage application submissions, Florida is the country’s leader. Over the course of the past year, the number of mortgage applications that have been submitted in the state has risen by 189%, according to statistics released by the Mortgage Bankers’ Association. 

Differences Between Male and Female Credit Card Spending

We all know that men and women certainly prioritize their budgets in very different ways – but what about credit card spending? Do men choose to use their credit cards in a different way from their female counterparts? A new study seeks to answer these questions. CreditDonkey.com recently published a new study that shows men and women have different priorities when it comes to credit card spending.

Americans Owe $1 Trillion in Student Debt

While mortgages and credit cards are known as the common sources of debt for American residents, student debt seems to slip our minds. However, debt derived from student loans is actually quite significant, amounting to more than $1 trillion, according to a report by PBS.

Car loans in America amount to $800 billion while credit card debt has reached $700 billion. Student debt far surpasses these numbers, as over 35 million former university students struggle to pay off the loans they received to put themselves through school.

Mortgage Assistance Program Expands in California

Many homeowners across America are still struggling to make their monthly mortgage payments. For quite some time, there was little help available; now, however, some organizations have stepped forward and offered their assistance. Keep Your Home California is one of these services, providing homeowners in the state with help when it comes to covering their mortgage costs.