Why Generation Y is broke

20- and 30-somethings are in a financial mess. Is it because we're dumb, arrogant or simply uneducated?

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Home buying the old-fashioned way

The subprime meltdown has meant a return to the old-fashioned mortgage: 20% down for 30 years at a fixed rate. Impossible? We look at 3 cases where people are going that well-worn route -- without Wall Street jobs or trust funds.


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Lower profits, increased rules -- but more reliable

When the incoming administration of President-elect Barack Obama looks at the financial services industry, there will be one thought above all others: to make sure the sector survives.



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Jobless claims jump to 16-year high

First-time filings for unemployment benefits shot up to their highest level since July 1992 last week, rising 27,000 to a seasonally adjusted 542,000 and punctuating the struggling state of the U.S. labor market, government data showed Thursday.


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How far will my salary go in another city?

What do you need to save?
How Fast will your savings grow?
How much will you need? Can you retire early?


click here to find out

No job, bad mortgage - out of luck

More homeowners are falling behind on their mortgages because they've lost their jobs. And there's little help coming their way.



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U.S. tries new tack on housing

Department of Housing and Urban Development makes changes to Hope for Homeowners plan aimed at increasing participation.


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Builders' confidence sinks to new low

A survey of homebuilders' assessment of the housing market shows the industry's sentiment fell in November to yet another low.


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Home Owners get the relief you need!!!!!!!!

Get the relief that you need on your mortgage. Don't wait until things get harder or worse. Banks are willing to negotiate the terms of your current mortgage. Take advantage of our knowledge and relationships with your mortgage lenders and apply for a modification today. You can visit our website www.procapconsulting.com or call us at 631-956-6200(Ask for Joe and mention this post for additional savings).

Sincerely,
Joe Diliberti
Phone: 631-956-6200
www.procapconsulting.com

US mortgage modifications increased in 3rd-qtr - report

U.S. mortgage companies increased the number of loans modified to easier terms by 17 percent from the second to third quarter, an industry group reported on Monday.


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Mounting job losses fueling foreclosures

Bad loans were originally the main culprit driving homeowners into foreclosure. But now it's unemployment that's fueling the mortgage meltdown.


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September pending home sales fall 4.6%

The worsening financial crisis stopped bargain hunters in their tracks.


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Obama will make economic mark before Jan. 20

Democratic lawmakers called Thursday for a new stimulus package worth up to $100 billion while President-elect Barack Obama scheduled a meeting with his new economic transition team to begin addressing the nation's economic troubles well before his Jan. 20 inauguration.

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How health coverage may change under Obama

New president faces question of how far to take reform


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Goldman forecasting

Goldman forecasting biggest rise in joblessness since WWII


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McCain mortgage plan shifts costs to taxpayers

Under McCain's newly announced plan, the government would take the hit for writing down mortgage balances for at-risk borrowers.


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Bank of America to slash mortgage payments

The foreclosure prevention program is the most aggressive initiative undertaken yet to help stem the housing crisis.



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Manhattan real estate: Pricey but headed for a fall

The average sales price continues to climb - it's now $1.4 million - but the number of buyers is falling fast.


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Housing rescue efforts slowed in August

Nearly 189,000 at risk borrowers got help during the month, according to Hope Now, down slightly from the number of homeowners helped in July.


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Where home prices are headed next

Want to know what your home will be worth this time next year? Check out these home price forecasts for the 100 largest U.S. markets, from Money Magazine.


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Bailout: Little help for homeowners

If it does pass, the plan calls for the Treasury to work with loan servicers to stem the tide of foreclosures. But just how that will happen remains unclear.



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Freddie, Fannie roll back fees

The mortgage finance giants will not increase fees to .5% from .25% on loans they purchase.


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The other housing rescue starts today

The FHA's $300 billion Hope for Homeownership program is now open for business. But will banks be willing to sign up?


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Record 16% drop in July home prices

July home prices plunge 16.3% in 12 months, according to the Standard & Poor's/Case-Shiller 20-city housing index.


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Crisis puts home loans out of reach

The meltdown on Wall Street is making it even harder for home buyers to land a mortgage loan.



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