Is it an end to the US mortgage problem?

Every year, we hear different versions of how people get in the web of mortgages and eventually, have to lose their dear possessions.  We have some good news for you: the old basic, trap-less mortgage is back.

Richard Cordray of the USA Today has stated that the Consumer Financial Protection Bureau issued the new rules to ensure transparent borrowing experience to consumers. Now, no more going from desk to desk at your bank for the remedy to your mortgage issues; it has all been eliminated. Continue reading

What is money management?

Managing your finances is money management, that’s true, but is it as simple as it sounds, and if it is, then how should you go about it?

Concept of Money Management

The key to managing money is controlling expenses, according to We normally do not realize how much money we spend until we exhaust the complete paycheck, by the end of the month. Why does that happen? It happens simply because we do not segregate needs and wants and over-splurge. Continue reading

Overview of economy in 2014

Stocks are ready to rebound, housing price is reaching all time highs and jobs are becoming scarce; this is the real condition of 2013 economic status in the USA, Paul J. Lim of CNN stated. What will be the economic condition in the coming year? People need to know about it, in order to build up a portfolio of their shares and bonds and also to decide about their other investment decisions. Continue reading

People cramped for choices with new mortgage rules

The new mortgage rules that will take effect from January 10, 2014 would certainly make it difficult for borrowers as far as exploring different choices are concerned. As per the new rule, banks should take care to ensure that the mortgage EMI’s are designed in such a way that they become affordable for the customers, states Les Christie of CNN Money. This is perhaps the result of the Dodd Frank Law that was passed in 2010. Very stringent penalties await those who do not follow this dictum. Continue reading

USD 177,000 – Yes, This Is the Average Inheritance of Americans

Though $ 177,000 inheritance that an average American might look good at first sight, it certainly compares very poorly with other developed countries in the world. According to Blake Ellis of CNN Money, they are ranked 6th in the list and are not so very well off, when compared to Australians who leave behind around $500,000 as inheritance for their next generation. The survey was conducted by HSBC and covered around 16,000 people in 15 countries. Continue reading

Struggling For Basics – Plight Of Many Californians

Even providing for basics such as food, housing, education and other needs is slowly but steadily becoming a big problem for many Californians, states Shan Li of LA Times. According to some figures just released by California Budget Project has highlighted some startling facts; for just surviving and meeting the basic needs a family of four with two children, a single working parent in California needs an annual income of around $61,000, which works out to around $29.00 per hour. This is much higher than the median wage of $19.00 per hour. Continue reading

How Government Budgets Could Impact Your Daily Life?

Whenever a new federal or state budget is announced, there certainly will be a lot of churning and in many cases; it will be a case of letting the cat, amongst the pigeons, stated Jeanne Sahadi of CNN Money. It would be interesting to have a closer look at the various ways and means by which government budgets could upset the applecart of households in more ways than one. Continue reading