The Latest Debt & Finance Blog

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Communities Lure Grads with Student Loan Repayment Packages

By Bill Fay | August 6, 2012

Communities all around the United States, concerned with the long-term effects of an aging population and a steady decline in inhabitants, are trying something a little different this year to…

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Americans’ Median Net Worth Drops 40 Percent

By Bill Fay | August 3, 2012

What a difference a few years can make in the typical American household. The Federal Reserve recently announced that the median U.S. household lost nearly 40 percent of its wealth…

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Legislation Would Allow Private Student Loans to be Discharged in Bankruptcy

By Bill Fay | August 3, 2012

Student loan debt and delinquencies have grown at such an alarming rate over the past couple of years that Sen. Dick Durbin, D-Ill., was prompted to introduce legislation in an…

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Fannie Mae, Freddie Mac Reject Principal-Reducing Mortgage Bailouts

By Bill Fay | August 1, 2012

Homeowners facing potential foreclosure with mortgages backed by Fannie Mae and Freddie Mac will not be getting any principal-reduction bailouts, based on a decision announced this week by the Federal…

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Student Loan Forgiveness Act Would Cancel Some Debt after 10 Years

By Bill Fay | July 27, 2012

In an effort to help jump-start the economy, generate jobs and lend a helping hand to college graduates facing tough financial times, Democratic Rep. Hansen Clarke of Michigan drafted an…

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Capital One to Pay $210 Million in Refunds to Credit Card Customers, Fines

By Bill Fay | July 26, 2012

More than 2 million Capital One credit card customers can expect to receive money back this year after a recent investigation completed by the Consumer Financial Protection Bureau (CFPB) revealed…

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Credit Reporting Agencies Soon to Gain Federal Oversight

By Bill Fay | July 25, 2012

After years with little or no oversight, more than 30 U.S. consumer reporting firms will fall under the eye of the Consumer Financial Protection Bureau (CFPB) starting September 30. It…

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Abusive Debt Collectors on the Rise

By Bill Fay | July 24, 2012

Between mortgages, home equity loans, credit cards and hospital bills, millions of Americans are said to be living on the financial edge, deep in debt. Companies and banks, frustrated with…

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Banks Institute Stricter Rules for Mortgages

By Bill Fay | July 24, 2012

While the once sluggish real estate market has reportedly been on an upswing in recent months, it may actually become more challenging to take advantage of current low housing prices…

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Small Businesses Show Recent Signs of Recovery

By Bill Fay | July 20, 2012

There is good news for small business owners and entrepreneurs considering a new venture — lenders are steadily increasing their volume of small business loans. In May, the overall number…

Sources:

  1. Farnham, S. Student Loans: Cities Offering to Pay Debt to Gain Young Residents. (2012, June 12). Retrieved from:
  2. http://abcnews.go.com/Business/towns-paying-off-student-loan-debts/story?id=16543649#.UBqTOPaPWuM
  3. Randolph, K. Small Cities in the US paying off Student Loan Debt for Residents. (2012, June 15). Retrieved from:
  4. http://www.fastweb.com/student-life/articles/3582-small-cities-in-the-us-paying-off-student-loan-debt-for-residents
  5. Cauchon, D. Student loans outstanding will exceed $1 trillion this year. (2011, October 19). Retrieved from:
  6. http://abcnews.go.com/Business/student-loans-outstanding-exceed-trillion-year/story?id=14770590#.T-4lgRdtr84