Archive for November, 2009

Thanksgiving Shoppers Show Financial Discipline

More Americans went shopping over Thanksgiving weekend than last year, but managed to shop more responsibly and spend less, according to an analysis reported by Bloomberg.
According to the National Retail Federation, 195 million Americans went shopping, either in store or online, between Thursday and Sunday, up from 172 million in 2008. Total spending is estimated [...]

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One Quarter of American Homeowners Underwater

New data released by First American CoreLogic, a real estate data company, indicates that a staggering 23 percent of American home mortgages are “underwater” – that is, the owners owe more money than their property is worth.
By the Numbers
Here’s a closer look at this worrying trend, which some experts reportedly believe could slow the housing [...]

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Controversial Swim Club Files Bankruptcy

The Philadelphia-area swim club involved in a nationally publicized incident this summer after allegations of racial discrimination has filed for Chapter 7 bankruptcy due to legal fees from the incident, according to the Philadelphia Inquirer.
In July of this year, The Huntingdon Valley Swim Club revoked the membership contract of the Creative Steps day camp, days [...]

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Online Auctions Not Always such a Great Deal

The auction web site Swoopo.com may initially seem like a hotspot for amazing bargains – the front page includes products like laptops, digital cameras, and Windows 7 software. And the prices are astonishingly low: with a little more than four minutes left on the bidding clock, a MacBook Pro was going for less than a [...]

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Existing Home Sales Jump While New Construction Falters

Sales of existing homes in the U.S. took a 10% jump in October, fueled by foreclosures, tax credits and low prices, while new home construction starts dropped by 10.6%.
Purchases of new homes, which make up 90% of the realty market, rose to an annual rate of 6.1 million, up from 5.54 million in September, according [...]

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Read This before Co-Signing for a Credit Card

We all know that credit is tight right now, which means credit card issuers aren’t bombarding Americans with quite as many free offers for credit cards as they did in years past. Getting credit may be the first step in building credit, but that may not be a good enough reason for you to co-sign [...]

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Millions May have to Repay Tax Credits

More than 15 million Americans may have to repay tax credits issued by the Obama Administration when they file their taxes next year, according to a report by the Chicago Tribune.
More than 10 percent of all taxpayers who file individual tax returns for 2009 could owe additional taxes, according to J. Russell George, the Treasury [...]

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