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Student Lending Bubble Still Growing

The Federal Reserve Bank in New York reported that Student Loan debt rose by almost 5% to nearly one trillion dollars in the third quarter of 2012. At the same time, the 90 day delinquency rate on student loans rose from 8.9% to 11%, moving delinquent loans to more than 100 billion dollars.

In the past 10 years the balance of Student Loans as quadrupled and the default rate has nearly doubled.

Credit Card Debt Rising Again

Just three months ago the Federal Reserve reported that credit card debt had been cut back even though Student Loans were driving total consumer debt to near record levels.

Now new data for the third quarter of 2012 shows that credit card debt has gone up about 5% in third quarter in the prior year amount. Some analysts blame the increased debt level on seasonal factors such as back to schoo…

Wall Street Back in the Housing Business

Thats right. Wall Street, which wrecked the housing market by playing along with the
Government’s plan to put unqualified buyers into homes, is back in the housing business.

Warren Buffet, probably the smartest investor in America, has just made a huge investment in the residential market. Wall Street type investment funds are spending billions to buy foreclosed homes and then turn…

The Debt Collectors are Back

Now that the Elections are finally over and the annoying political calls have stopped, the Debt Collectors are back. Their target is the 30 million Americans who owe about $45 billion in problem debt.

Dealing with Debt Collectors is often an unpleasant experience, but you can sometimes turn them to your advantage (see our 10/29/12 Blog “Putting Time on Your Side”). The key is developing a…

The No Relief Election

American voters went to the polls on November 6 and voted to keep the same President, the same House and the same Senate. Those hoping for a viagra from england clear direction and relief from Washington gridlock were very disappointed. It looks like we will have another four years like the last four years.
The first thing you can expect is a continuation of big government deficits and an…

Protecting Your Home

Debt Relief News:
Emancipation Network
 
Protecting Your Home

While home values are underwater in many places, the homestead still represents the major asset for most people. The American dream of turning your home down payment into a substantial family asset by paying down the mortgage over the years remains a viable pathway to wealth accumulation.

The States have enacted consumer…

Short Sales Made Easier

Debt Relief News:
Emancipation Network
 
Short Sales Made Easier

Federal regulations have eased requirements for Short Sales. The new rules help people who have not missed payments and set a ceiling of $6000 on payments to second mortgage holders.

Short Sales are sales of homes for less than the mortgage debt, allowing the homeowner to escape from an underwater mortgage. Short Sales…

Putting Time on Your Side

Debt Relief News
Emancipation Network

Putting Time on Your Side

One of the key elements of a Debt Relief plan involves making time work for you instead of against you.

Most people are trained to think time is on the lender’s side. After all, interest continues to be added on, and debt collectors try to create a sense of urgency as if there were will be no second chance if you…

Update on Student Loan Slavery

Debt Relief News:
Emancipation Network
 
Update on Student Loan Slavery

According to recent reports the number of U.S. households with student debt now stands at 19%, doubling since 1989 and jumping from 15% to 19% since 2007. This huge increase has been caused by out of control tuition costs and a terrible national economy. For those in the poorest 20%, whose college costs have obviously…

Reaching Your Savings Goals

Debt Relief News
Emancipation Network

Reaching Your Savings Goals

Last week we reported that a major financial company has recommend a savings goal of 8 times annual salary by the age of 67. Now people want to know how an average family making $60,000 per year can possibly save 8 times that, or $480,000.

The key is to break down the savings goal into realistic components and tackle them…