"Foreclosure-related filings for June jumped 72 percent in Suffolk and 2 percent in Nassau from the previous month, according to RealtyTrac, an online foreclosure marketplace.
...
It's a "Herculean" task to get accurate data, said Kil Huh, project manager at The Pew Center on the States, a nonprofit that has been researching the impact of the mortgage crisis on communities and families.
In getting a grip on the extent of problems, a considerable challenge is that there's no central depository for information, he said. The federal and state governments can be instrumental in creating one, but that takes time and money, he noted.
'As we move forward thinking about what's the right public policy, we're going to need accurate data to understand the problem,' Huh said."
Read the complete articleForeclosure-Related Filings Up in Nassau, Suffolk on Newsday's Web site.
"Direct mail offers are flowing for business credit cards, many with attractive promotional interest rates and balance transfer deals...while there are many reasons to open an account, there can be substantial risks involved."
More infoEleni Constantine, director of the Pew Health Group’s financial security portfolio, issued the following statement in support of legislation creating an “automatic IRA,” S. 3760, introduced by Sen. Jeff Bingaman (D-NM) and H.R. 6099, introduced by Rep. Richard Neal (D-MA).
More info“The student loan proposal announced by the President today could not come at a better time, as the weak economy and high unemployment are making it harder than ever for people to make monthly payments on their student loans."
More infoYesterday the U.S. Department of Education released a preview of college “cohort default rates” for federal student loans using a more robust methodology that will take effect in 2011.
More infoThe Project on Student Debt's fourth annual report on the student loan debt of new college graduates. The analysis of the most recent available data found that student debt continued to rise even as it got harder for recent graduates to find jobs, and that debt levels vary considerably from state to state and college to college.
More infoDespite the availability of federal money, many students rely on private loans from banks. According to TICAS's Project on Student Debt, the proportion of undergrads who took out such loans jumped from 5 percent in 2003–04 to 14 percent in 2007–08.
More infoStarting July 1, borrowers will have a new option: a repayment program that caps monthly payments based on income. It targets borrowers who would have a hard time paying basic living expenses if they had to make standard monthly payments on their loans, says Lauren Asher, acting president for the Project on Student Debt.
More infoThe Retirement Security Project announced today that J. Mark Iwry, Principal of The Retirement Security Project, Nonresident Senior Fellow at the Brookings Institution, and former Treasury Department official, has been appointed by Treasury Secretary Timothy Geithner as Senior Adviser to the Secretary and Deputy Assistant Treasury Secretary for Retirement and Health Policy, effective April 27, 2009.
The Administration’s budget outline, released today, includes the Automatic IRA proposal developed by the Retirement Security Project.
More infoOne in 18 homeowners in Arizona is estimated to be in foreclosure by the end of 2010, as a result of a subprime-related loan. Years of easily accessible credit and relatively low home prices that facilitated homeownership in the state have ended, leaving in their wake stricter lending terms and stagnating home appreciation.
More infoIn the midst of a campaign with opposing views on most aspects of domestic policy, the presidential candidates have now both endorsed the Automatic IRA.
As traditional pensions fade from the retirement landscape and workers are forced to take a lot more responsibility for their own financial futures, employers are rolling out a variety of features to help workers prepare for retirement.
There's no shortage of retirement-savings services for the affluent. But for those who fall in the middle of the wage scale or lower, it's a different story.
"Frustrated by the slow pace of federal relief, states around the country are pouring hundreds of millions of dollars into their own programs to stem the rising tide of home foreclosures."
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