To combat mortgage relief fraud, the FTC would like to make a new rule that would ban mortgage modification services from charging up-front fees. “Homeowners facing foreclosure or struggling to make mortgage payments shouldn’t have to contend with fraudulent ‘companies’ that don’t provide what they promise,” FTC Chairman Jon Leibowitz said in a statement. “The proposed rule would outlaw up-front fees so companies can’t take the money and run.” Indeed, there are some shady operators in this area and consumers need to beware. [More]
money
First Step To Reducing Credit Card Debt Is To Stop Using Your Card
By 12.30.10
It sounds obvious but judging how many people (ab)use their credit cards they seem to forget it: to get out of debt you need to stop getting into more debt. That means putting your credit card on lockdown. [More]
How Do I Record An Illegal Debt Collector?
By 12.30.10
Shannon keeps getting calls from a debt collector that violate the law so she wants to catch them in the act. The collector calls herself “Investigator” and claims that Shannon is part of a “serious investigation” and has threatened her with jail time if she doesn’t pay up. The “Investigator” keeps calling her at work and has also called up her coworkers and told them that Shannon is part of an investigation. Shannon needs help figuring out how to record these calls. [More]
Personal Finance Roundup
By 12.28.10
The Best Charities in America [Yahoo Finance] “The best charities in the country.”
8 Job-Getting Tips from a Guy Who’s Hired 500 People in the Past 5 Years [Wise Bread] “Here are eight of his tips and hints for successfully navigating the job interview and hiring process.”
10 things to shop for after Christmas [Frugal Village] “If you didn’t get what you wanted from your holiday wish list, it’s likely that you’ll find it for less during year-end and clearance sales. Here are a few items to look for.”
The 10 Golden Rules of Scam Prevention [MoneyTalksNews] “If you follow the 10 Golden Rules of Scam Prevention, or even some of them, you’ll never be foolishly parted from your money again.”
5 tips to make returning gifts almost as easy as getting them [Consumer Reports] “For hassle-free returns, read the current fine print (policies are a moving target) and review these tips.”
Put That Beer On My Student Loan
By 12.22.10
A card called “Higher One” lets college kids take their student loan and turn it into a debit card they can use to buy pizza, beer, and other learning essentials with. [More]
Scams: Do You Know About Mortgage "Flopping?"
By 12.21.10
You’ve heard of “flipping” houses, well now there’s “flopping.” While the first was speculative, this one is outright fraud. [More]
Personal Finance Roundup
By 12.21.10
How to Get Financially Fit in the New Year [Wall Street Journal] “It’s time to think about getting in financial shape in 2011. Here’s a 12-month agenda.”
5 Expensive Things You Shouldn’t Buy [The Street] “Here are five things you should never buy unless you’re rich enough to stop working.”
5 Ways to Become Debt Free This Season [Yahoo Finance] “There are five clear-cut steps consumers should take to pull themselves free of their credit card debt.”
9 money goofs that won’t hurt much [MSN Money] “Worried that a late utility bill will wallop your credit scores? Stop fretting. These common lapses could lead to financial troubles, but they won’t ding your scores.”
How to Find the Hidden Cash in Your Attic [Smart Money] “SmartMoney asked the experts how down-sizers can make the most money — when they should bargain hard, when they should take the best offer they can get, and what items to give away.”
Figure Out Your Scrap Gold Value With An Online Calculator
By 12.21.10
Don’t rely on the buyer to tell you how much your gold is worth, that’s a ripe setup for getting a bad deal. Instead, know the melt value of your gold before you go into negotiations. To make that easier, GoldCalc is a two-step tool that lets you do exactly what its name sounds like. [More]
Man Dares Bank To Foreclose Unless They Reverse Bad Fees, Wins
By 12.15.10
About a month ago we brought you the story of a man who was willing to risk his house going into foreclosure unless the bank refunded a $25 fee it had wrongfully charged. He crossed his arms and stopped paying his mortgage. Fees mounted. The bank ignored his letters. His house was scheduled for foreclosure. It was the ultimate in real estate brinkmanship. Now, four days before the auction, the bank has blinked. [More]
Personal Finance Roundup
By 12.15.10
The Best Gifts That Give to Charity [Smart Money] “if you really want the present you buy to bolster a nonprofits coffers, some options are more effective than others.”
10 Great Christmas Gifts That Won’t Cost You a Dime! [Money Watch] “Here are 10 FREE gifts you can give your loved ones this year without breaking too many laws.”
7 gifts that can change lives [MSN Money] “If you receive (or, in many cases, give) anything on this list — whether on impulse or after years of contemplation — be prepared for an amazing difference.”
Four Ways to Stop Gorging on Gratification [Bucks Blog] “We bought into the idea that shopping and spending money makes us happy and helps form our identities.”
5 Financial Gifts to Give Yourself [Kiplinger] “If you’re going to splurge on yourself this holiday season, put the money to good use.”
CitiMortgage Launches "Call-A-Thon" To Answer Distressed Homeowner Questions
By 12.14.10
Tomorrow CitiMortgage is kicking off a special 1-day “call-a-thon” where people in trouble with or confused about their mortgages with Citi can call in and talk to foreclosure prevention staff. In addition, “senior managers and increased numbers of supervisors will be on hand to provide additional support,” says Citi. [More]
Next Big Thing In Mortgage Fraud: Fake Attorney Signatures
By 12.14.10
The next big wave in disgusting mortgage fraud revelations could be faked signatures from foreclosure attorneys. And homeowners fighting foreclosure are using it to hold onto their house. [More]
Transcripts Of Discover Card Allegedly Tricking Customers
By 12.13.10
The Minnesota AG is suing Discover Card for allegedly duping customers into thinking they were just getting a courtesy call about their card but then actually signing them for a payment protection plan. The AG gave copies of the audio files of the customer calls to the New York Times. Here is a salient selection of one of the transcripts. [More]
Find Foreclosures Using Google Maps
By 12.13.10
You can check out foreclosures all over the US just by drilling down in Google Maps. [More]
U.S. Home Values Set To Plummet By $1.7 Trillion This Year
By 12.9.10
Property valuation site Zillow says that signs of stability in the housing market are vaporizing, and U.S. home values are poised to drop another $1.7 trillion this year. [More]
Calculate How Many Days Of Work That New Shirt Will Cost You
By 12.8.10
DaysToPay is a handy little site that quickly shows you how long you will have to work in order to buy something. Enter the cost and your hourly wage or yearly salary and it shows you just how much of your sweat is going into that new Xbox Kinect. [More]
Govt Misprints Ton Of New $100s
By 12.8.10
A printing error on the fancy new $100 bills means that nearly a billion are in storage until the government figures out how many to destroy. The paper got creased during printing, leaving a portion of Franklin’s face uninked. It’s a $110 billion boo-boo! [More]
See Exactly How Big Your Bank's Bailout Was
By 12.8.10
Just how big exactly was the bailout? And which banks got which kinds of loans? And how many did they get? It’s been hard to figure out, but now the Fed has released deep data on the over 21,000 different loans it made during the financial crisis—loans that were supposed to help encourage the banks to resume lending again. ProPublica has put all the numbers together into a searchable and filterable database so you check and see what kind of treasure chest your bank got. [More]
