Okay. I’ve had it with the bailouts. My new personal position is that we scrap the bailouts and let things fail. Once enough has failed and the losers leave the market, we can begin to rebuild without the trillions in national debt. The latest news is that AIG has paid out over $170 million in bonuses and it was also revealed who some of the
Here’s an interesting twist on the home foreclosure front. People around the country are having success in getting additional time to avoid foreclosure by requesting that the lender produce the original mortgage documents to prove that they have responsibility for the mortgage and have a right to foreclose on the property. It’s no secret that I’m not super duper sympathetic for many of the people
I can afford the payment. I responsibly only borrowed what I could truly afford. I’ve stayed debt free with no credit card debt, car loans or anything other than a mortgage. I save and invest regularly. I’m pretty much doing all I can to be a financially responsible citizen. Unfortunately our society doesn’t seem to reward good behavior. In my daughter’s kindergarten class there are
You’d think that, with this economy, I’d be hunkered down in my bunker only spending money on beans, rice and other essential foods and drinks. I’m still not getting warm and fuzzy about the current economic downturn and the prospects for a turnaround. In light of that, you’d think I’d be having zero trouble keeping our spending in check. Well, in reality, I’m still struggling
I’m not sure if being home sick will be healthier for me, or if maybe I should have just gone to work. Now that I’m sitting here trying to feel better, I’m watching too much tv and reading too much on the Internet. It’s not looking good out there. You can’t load a financial type website without reading about the latest layoffs, or poor earnings
There is an interesting article over at Fortune magazine called “A recession of biblical proportions“. It takes an interesting look at saving and spending trends during downturns and notes that this recession is different than others in that we are now saving during the downturn as opposed to using previously saved funds to get by. It notes that during the boom times that we have
It’s amazing how long it has taken to get our refinancing completed. It all stems from the massive way of people that jumped at the chance to get 30 year fixed loans at historic rates. I had been worried about how long it was taking because I was worried our rate lock would expire. Once my credit union assured me that they would extend the
If you haven’t been looking at the news much today, you might be surprised to hear the media has already given today a nickname. They’re calling it Bloody Monday due to the number of job losses. CNNMoney reports that there have been over 68,000 job cuts today alone (announced). With earnings announcements all week, I think we’ll see a higher number by the end of
When we went through the application process to refinance our house we locked our interest rate for 45 days at 4.875% for a 30 year fixed loan. We are quickly approaching the end of the lock period and I have found myself feeling a little bit stressed because interest rates have gone up a bit. When I looked in to what would happen when my
Without a doubt one of my favorite parts of participating in the personal finance blog arena is reading the great stories of people that have awakened to the lunacy of carrying lots of debt and have changed their habits to grab hold of their financial lives. One of the first people to do this was NCN @ No Credit Needed. I can remember sending him