April 2010 Archives

St. Louis Globe-Democrat

WU's Michael Sherraden named to TIME Magazine's TIME 100

April 29, 2010

 

TIME Magazine has named Michael Sherraden, PhD, the Benjamin E. Youngdahl professor of social development at Washington University, to the 2010 TIME 100, the magazine's annual list of the 100 most influential people in the world.

St. Louis Globe-Democrat

WU's Michael Sherraden named to TIME Magazine's TIME 100

April 29, 2010

 

TIME Magazine has named Michael Sherraden, PhD, the Benjamin E. Youngdahl professor of social development at Washington University, to the 2010 TIME 100, the magazine's annual list of the 100 most influential people in the world.

Washington Post

Geithner tells panel that more has to be done to help homeowners avoid foreclosure

By Renae Merle

April 30, 2010

 

Treasury Secretary Timothy F. Geithner told a Senate panel Thursday that mortgage lenders were still not doing enough to help homeowners avoid foreclosure and that some borrowers who qualify for federal aid are still losing their homes.

Free Money Left on Table

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The New York Times

Free Money Left on Table

By Armand Emamdjomeh

April 30, 2010

 

What if residents of California -- a state reeling from unemployment, a sagging economy and a gaping budget hole -- had access to more than $1 billion, but did not use it? What if Alameda County residents had access to $29 million and failed to take it out of the federal treasury?

USA Today
By: Stephanie Armour
April 28, 2010

After breaking up with her longtime boyfriend and finding a job she loves in Denver, Quinn Kelsey decided last Friday to take advantage of the home buyers' tax credit.
The Salt Lake Tribune
By: Jennifer W. Sanchez
April 28, 2010

West Valley City » When William "Ed" Schultz challenged a property manager's attempt to terminate his lease last fall, he had no idea he'd become an activist on Capitol Hill.
The Washington Post
By: Michelle Singletary
April 29, 2010

Valisha Cooks assumed that the college education she financed with debt -- about half of it in expensive private student loans -- would pay off handsomely.

Cooks, like so many others, assumed wrong.
Time Magazine
By: Jane Wales
April 29, 2010

Microfinance seems simple: make small loans to the poor so they will have the capital to send their children to school, pay for health care, start a business. But lifting families from poverty also requires that they be able to protect their new assets -- a home, a herd, a budding enterprise. The Global Assets Project, co-led by Michael Sherraden, offers things people in developed countries take as a given: savings accounts, insurance, investment capital.
The Washington Business Journal
By: Melissa Castro
April 28, 2010

District Mayor Adrian Fenty today announced the formal launch of "Bank on D.C.," a public-private partnership aimed at giving the city's "underbanked" populations easy access to a checking account and financial literacy.
KALW NEWS
By: Robert Friedman
April 27, 2010

Among the casualties of the foreclosure crisis--bankruptcies, homelessness and distressed neighborhoods--we may soon add our waning faith in homeownership. A recent poll by Fannie Mae showed that while most Americans still want to buy a home, they increasingly view it as a risky proposition.
The Washington Post
By: Renae Merle
April 28, 2010

Minority homeowners in the Washington region are more likely to be in foreclosure even if they have credit scores and loan sizes similar to their white counterparts, according to a National Community Reinvestment Coalition report to be released Wednesday.

LendingTree Launches Foundation

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Charlotte Business Journal
April 27, 2010

LendingTree has established a foundation aimed at improving financial literacy among consumers.
The Guardian (United Kingdom)
By: Julian Le Grand
April 27, 2010

Confining CTFs to the poor would be divisive, and would result in low take-up and stigma, says Julian Le Grand

Almost the only time that ITV's real-time popularity rating on Nick Clegg's performance during the first prime ministerial debate took a downward turn was when the Lib Dem leader attacked the child trust fund (CTF).
Chicago Sun Times
By: Francine Knowles
April 26, 2010

Parents can play a key role in teaching their children financial literacy, and help is available through the American Bankers Association Education Foundation.
The New York Times
By: David Kocieniewski
April 26, 2010

Realtors, home buyers and sellers are rushing to complete sales agreements before the tax credit for home purchases expires this week.
The New York Times
By: John Leland
April 24, 2010

PROVIDENCE, R.I. -- One recent morning Antonia Antonaccio, a home care aide, got a call to help an elderly couple whose regular aide could not make it. The regular aide, who is 68 years old, had thrown out her back.
The San Francisco Chronicle
By: Robert Selna
April 26, 2010

Cities hoping to tap into a 2-year-old federal program designed to rehabilitate distressed neighborhoods have found themselves muscled out of the real estate market by investors who pay cash, take troubled properties off a bank's books without bureaucratic hurdles and return them to the market as rentals.
The Kansas City Star (IDA)
By: Debra Skodack
April 26, 2010

When Shameka Baskin was told she would graduate from high school -- her first step toward her dream of being a defense lawyer -- she broke down.
The Wall Street Journal
By: James R. Hagerty and Dawn Wotapka
April 24, 2010

New-home sales jumped in March as buyers rushed to qualify for a federal tax credit and realtors homed in on the soon-to-expire credit as a way to ramp up interest.
The Washington Post
By: Kenneth R. Harney
April 24, 2010

Here's some good news for people who had to give the deed on their house back to the bank because of financial problems, or who have done a short sale to avoid foreclosure: You may not have to wait the typical four or five years to re-qualify for financing to buy another home.

Rolling Out the Rentals

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The New York Times
By: Antoinette Martin
April 25, 2010

ROUGHLY 1,500 rental units are gradually being rolled onto the northern New Jersey market starting this spring. One large new building in Hoboken will start leasing this week; several other apartment complexes in both cities and suburbs have opened or are about to, and two tall rental towers are being readied to open early in 2011.
AOL News
By: Andrea Levere
April 23, 2010

(April 23) -- Among the casualties of the foreclosure crisis -- bankruptcies, homelessness and distressed neighborhoods -- we may soon add to the list our waning faith in homeownership.
Bangor Daily News
By: Renee Ordway
April 23, 2010

Delores Holland realized just how vulnerable she was a few years ago when she learned the Bangor mobile home park she had lived in for 15 years was being turned into a strip mall.
The Washington Post
By: Michelle Singletary
April 22, 2010

The Treasury Department is making a big push to go green -- and save a lot of green -- by switching millions of people who receive Social Security and other federal benefits from paper checks to electronic payments.
The Chronicle-Telegram (Ohio)
By: Melissa Hebert
April 22, 2010

LORAIN -- People looking to buy their first home are getting some help from the Lorain County Community Action Agency.
The Washington Post
By: Brady Dennis and Paul Kane
April 22, 2010

Key members of both parties said Wednesday that they are close to agreeing on the main elements of a bill to overhaul the nation's financial regulations, raising the prospect that the Senate could begin formal discussion of the landmark legislation early next week.
The New York Times
By: Peter S. Goodman
April 19, 2010

SAN MATEO, Calif. -- Two years into a merciless downward spiral, Antonio Moore was threatened with living on the street.
PR Newswire
April 21, 2010

NEW YORK, April 21 /PRNewswire/ -- Verizon has named Torod Neptune as vice president of communications, products and services. He will lead strategy and implementation for Verizon's telecom and business product lines, and will be a key part of the communications leadership on issues and initiatives affecting the company.
Arkansas Democrat-Gazette

By: Kristin Netterstrom
April 21, 2010

Mobile homes built before 1976 are no longer welcomed into Little Rock.
NY1
By: Tara Lynn Wagner
April 20, 2010

Capital One Bank recently opened its third student-run branch at a Harlem high school, and its participants hope to teach financial literacy to their fellow students. NY1's Money Matters reporter filed the following report.
The New York Times
By: David Leonhardt
April 20, 2010

In much of the country, for much of the last decade, renting a home has usually been a better financial move than buying one. It's been true in Southern California, San Francisco, Phoenix, Las Vegas and large parts of Florida, the Pacific Northwest and the Northeast.
USA Today
By: Stephanie Armour
April 21, 2010

The Obama administration's initiative to help homeowners obtain modifications of second mortgages is getting off the ground.
KFVS 12 News
April 21, 2010

CHICAGO (AP) - Illinois financial officials want every child born in the state to have a savings account.
The Washington Post
By: Jonathan O'Connell
April 19, 2010

In 1976, Muhammad Yunus began making loans of a dollar or less to poor farmers and textile makers in his native Bangladesh. Thirty years later, he and the nonprofit micro-lender he founded, Grameen Bank, shared the 2006 Nobel Peace Prize. To date, Grameen has lent more than $9 billion to more than 8 million borrowers, almost all in Bangladesh.
The Washington Post
By: Kenneth R. Harney
April 17, 2010

Financially stressed homeowners looking to cut their mortgage payments through a loan modification, short sale or principal reduction under one of the Obama administration's programs needn't wreck their credit scores in the process.

Kids Need More Financial Lessons

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Chicago Sun Times
By: Esther J. Cepeda
April 19, 2010

It's Money Smart Week in Chicago, that annual event sponsored by the Federal Reserve Bank of Chicago,and -- if nothing else -- the city is accented with portraits of a robust Benjamin Franklin winking knowingly from the center of a $100 bill.
USA TODAY
By: Kathryn Canavan
April 19, 2010

The road to financial hell is paved with alluring options: credit cards, payday loans, reverse mortgages, 401(k) raids and more.
The Huffington Post
By: John Hope Bryant
April 18, 2010

Introducing the Gallup-Operation HOPE Financial Literacy Index
The St. Cloud Times
April 19, 2010

This month, Jamie Watt and her fiance Ben Arnold expect to own their first home, a three-story townhouse in Maryland with a deck for entertaining and a brand-new kitchen with a stone countertop.

Putting the Icing on Success

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The Denver Post (IDA)
By: Heather McWilliams
April 17, 2010

Denver residents hungry to feed their financial stability now have a smorgasbord of services available in one place: The Economic Prosperity Center.
The Washington Post
By: Michelle Singletary
April 15, 2010

Just in time for April 15, the dreaded tax day, several consumer advocacy groups released the results of a mystery-shopping test of commercial tax preparers. They were not good.
The Washington Post
By: Renae Merle
April 16, 2010

More people lost their homes to foreclosure during the first quarter of this year as banks worked through a backlog of troubled borrowers and repossessed more properties, according to data released Thursday by RealtyTrac.
Milwaukee Business Journal
April 14, 2010

The groups that created the Wisconsin Entrepreneurs' Network five years ago now are creating a network to propel youth into "real-world entrepreneurship."
The Washington Post
By: Renae Merle
April 15, 2010

The government's foreclosure prevention efforts are struggling to make an impact on millions of borrowers who are in trouble on their mortgages, according to a report issued Wednesday by a congressional watchdog panel.
The Times-Picayune
By: Molly Reid
April 14, 2010

American cities need to plan more sustainably and cooperatively, and recent federal funding to promote regional planning efforts will help achieve that goal, said Adolfo Carrion Jr.,director of the White House Office on Urban Affairs, speaking Tuesday afternoon at the American Planning Association's national conference in New Orleans.
The New York Times
By: David Leonhardt
April 13, 2010

That's the portion of American households that owe no income tax for 2009. The number is up from 38 percent in 2007, and it has become a popular talking point on cable television and talk radio. With Tax Day coming on Thursday, 47 percent has become shorthand for the notion that the wealthy face a much higher tax burden than they once did while growing numbers of Americans are effectively on the dole.
Des Moines Register (IDA)
April 14, 2010

Village Credit Union in Des Moines has been selected to participate in the Credit Union Family Partnership Program, Iowa's first credit union individual development account, or IDA, program.
Daily Finance: AOL Money & Finance Site
By: Matthew Scott
April 14, 2010

As we all know, the Great Recession has created some of the worst economic conditions in recent American history, with painfully high unemployment and rising mortgage defaults just two of many problems. But now there is some positive news, however slight: The financial mess appears to have inspired Americans to adopt better financial behavior, according to results of the latest Consumer Financial Literacy Survey from the National Foundation of Credit Counseling.
The Examiner
By: Donny Wise
April 13, 2010

Another casualty of our current banking system is the number of unbanked Americans that does not use a traditional checking or savings account. The unbanked are utilizing check cashing services to cash payroll checks and money orders/cash to pay bills, groceries, etc. The Bank On program is a program with origins in San Francisco in 2006 to mainstream banking services to the unbanked with partnering government, financial institutions, and community organizations. DC has become part of the initiative with the Bank on DC program that will assist the 37,000 unbanked with affordable access to mainstream banking services.

The Cap Times
By: Jessica VanEgeren
April 11, 2010

For the past 12 years, retired state employee Kristen Zehner has been waging a one-woman, grassroots' campaign to bring greater home security to thousands of state residents who own manufactured homes.
The New York Times
By: Neil MacFarquhar
April 13, 2010

In recent years, the idea of giving small loans to poor people became the darling of the development world, hailed as the long elusive formula to propel even the most destitute into better lives.
USA Today
By: Stephanie Armour
April 13, 2010

This month, Jamie Watt and her fiancé, Ben Arnold, expect to own their first home, a three-story townhouse with a spacious deck for entertaining and a spanking-new kitchen with a stone countertop.
The Commercial Appeal (Tennessee)
By: Ron Maxey
April 13, 2010

Tom Davidson has trekked across the country touting not just a product, but a promise - that financial literacy will lead to a better life for students and the country.
Christian Science Monitor (CFED)
By: Dr. Jeffrey R. Cornwall
April 13, 2010

Sam's Club is a regular stop for many small business owners
ABC Action News
By: John Matarese
April 13, 2010

Tax day 2010 is just days away.
Tulsa World
By: Clifton Adcock
April 11, 2010

TAHLEQUAH -- The thunder of a Kiowa drum rolled across the Cherokee Nation Cultural Grounds, the only sound as a crowd of about 1,200 people gathered Saturday to pay their last respects to former Principal Chief Wilma Mankiller.
The Lebanon Daily News (Pennsylvania; IDA)
April 12, 2010

Free matching money is available to eligible families to begin a savings account toward an approved asset-building goal - thanks to the Pennsylvania Family Savings Account Program.

Tax Time - Good for Businesses?

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The San Diego Union-Tribune
By: Maria Sotero
April 11, 2010

There aren't too many tax fans around these days. Times are hard, people are working harder, and government programs designed to be solutions are often seen as part of the problem. More than ever, tax season is a dreaded time.
The Washington Post
By: Sadie Dingfelder
April 10, 2010

Since 2007, Americans have suffered through the worst economic conditions since the Great Depression. The real estate market collapsed, banks failed and unemployment became commonplace. As many people who lived through the privation of the 1930s developed lifelong frugality, we, too, may emerge from the recession with our beliefs about real estate and personal finance permanently transformed.
Philanthropy News Digest (CFED)
April 12, 2010

Sam's Club has announced the launch of Giving Made Simple, an online voting campaign to determine how the company should allocate $4 million in charitable contributions to organizations dedicated to youth education and entrepreneurship.

It's a home, not an ATM

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The Washington Post
By: Michelle Singletary
April 11, 2010

Throughout my childhood, my grandmother Big Mama extolled the virtues of owning a home.
The New York Times
By: Tara Siegel Bernard
April 10, 2010

Most Americans aren't fluent in the language of money. Yet we're expected to make big financial decisions as early as our teens -- Should I take on thousands of dollars of student debt? Should I buy a car? -- even though most of us received no formal instruction on financial matters until it was too late.
The Patriot Ledger (Massachusetts)
By: Jon Chesto
April 9, 2010

You may notice more open house signs than normal in your neighborhood this weekend, as local real estate agents participate in what's being billed as the first "nationwide open house."

'Will Work for Loan' Sign Works

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Nashville Business Journal
By: Eric Snyder
April 8, 2010

Here's the thing about stunts and gimmicks -- sometimes they work.

Veronica James, the self-employed graphic designer who stood on the streets of downtown Nashville holding a 'Will Work for Business Loan' sign, says she has found the funding she needs to launch her "Urbandillo" line of specialty clothing.
PR Newswire
April 8, 2010

Participating in Nationwide Online Voting Campaign to Help 100,000 Low-Income, Self-Employed Americans Start Their Business off Right
Bloomberg Business Week
By: Katharine Houreld
April 6, 2010

A Nobel prize winning expert in microfinance is expanding his operations to help poverty-stricken Americans but said Tuesday that reforms in U.S. welfare and banking law are urgently needed.
Pittsburgh Post-Gazette
By Patricia Sabatini
April 8, 2010

PNC Bank has launched a multistate pilot program offering people who don't have bank accounts a way to avoid high-cost check cashing services by cashing their income tax refund checks for free.
Post-Bulletin (Minnesota)
By Karen M. Erlenbusch
April 8, 2010

A woman I'll call Donna recently came to us about the United Way of Olmsted County's Refurbished Computer Program. It's a program where low-income families can for a nominal fee obtain a refurbished computer for use in helping with homework, and bridging the digital divide.
The Wall Street Journal
By: Emily Maltby
April 8, 2010

Congress has infused a popular small-business loan program with capital three times to keep it running. But the short-term renewals, rather than the government committing to the program long-term, are causing some business owners to fall through the cracks of the lending process.
The Washington Post
By: Patricia Sullivan
April 7, 2010

Wilma Mankiller, 64, the first female chief of the Cherokee Nation in modern times, whose leadership on social and financial issues made her tribe a national role model, died April 6 at her home in Adair County, Okla. She had metastatic pancreatic cancer.
The White House
April 6, 2010


The New York Times
By Erik Eckholm
April 6, 2010

Only half the youths who had turned 18 and "aged out" of foster care were employed by their mid-20s. Six in 10 men had been convicted of a crime, and three in four women, many of them with children of their own, were receiving some form of public assistance. Only six in 100 had completed even a community college degree.
NC Policy Watch
By: Bill Schweke
April 6, 2010

There's a familiar story that many of us have come to passively accept in recent years about rural North Carolina. You know how this goes: It holds that time has passed these areas by; that they are beyond repair and without hope; and that anyone working on intentional solutions to improve these communities is a naïve dreamer.
The Chicago Tribune
By: Bonnie Miller Rubin
April 6, 2010

In a dreary classroom overlooking a blighted block on the South Side, I watched three University of Chicago students teach seniors at Hales Franciscan High School the finer points of money management. I came expecting tips on budgeting and instead found that elusive place called "common ground."
The Washington Post
By Renae Merle
April 6, 2010

Despite turbulence in the housing market during the past three years, most people still think homeownership is important and preferable to renting, but many remain skeptical that home prices will rebound soon, according to a survey by Fannie Mae to be released Tuesday.
Eureka Times-Standard (California)
By: Susan Seaman
April 4, 2010

I recently attended "From the Fire in the Belly," an event where local entrepreneurs shared stories about the inspiration for, and exasperation from, owning a business.
State News Service
April 5, 2010

The following information was released by the Administration for Children and Families (ACF):

The Administration for Children and Families (ACF) at the U.S. Department of Health and Human Services (HHS) today announced nine Assets for Independence (AFI) program grants totaling $1.8 million to community-based organizations and government agencies.
Times-Picayune (Louisiana)
By: Ronette King
April 4, 2010

As if the allure of spring weren't inspiration enough to make hopeful shoppers start searching in earnest, this year potential home buyers have the prospect of a nice tax credit to help with the purchase. You'll need to get to work fast, though, and acquire the house by the end of April if you want take advantage of what is often called the homebuyer tax credit.
The Washington Post
By: Renae Merle
April 3, 2010

As foreclosure prevention efforts struggle to make an impact, the Obama administration will launch a program Monday encouraging lenders to allow more distressed homeowners to sell their property for less than they owe on their mortgage.
The Washington Post
By: David Cho
April 5, 2010

In March 2009, President Obama vowed to address the drought of bank lending to small companies and announced an initiative to use $15 billion from the federal bailout to unfreeze the markets that finance Small Business Administration loans.

Homeownership for Everyone?

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The Wall Street Journal (CFED; IDA)
By: Jonnelle Marte
April 1, 2010

With the subprime market in ruins, affordable housing advocates are looking at new ways to promote responsible homeownership for low and moderate income families. While many policy makers would resign low and moderate income families to rental housing, a new study makes a case for keeping the door open to homeownership at all income levels.
The Wall Street Journal
By: Laura Meckler
April 1, 2010

PORTLAND, Maine--President Barack Obama directed his health-care sales pitch to some of his fiercest critics on Thursday: small businesses.
The Forest Grove News-Times (Oregon)
April 1, 2010

State officials will allocate $88 million in federal cash to shore up the housing market in areas hit hardest by recession woes

Oregon will get $88 million in federal funds to help homeowners stay in their homes and avoid foreclosure.
Indian Country Today (New York)
By: Rob Capriccioso
March 31, 2010

Mar. 31--WASHINGTON -- The First Nations Oweesta Corporation, a national Native American community development organization, has completed a round of Capitol Hill advocacy, getting policy makers up to speed on a range of Indian country economic issues.
USA Today
By: Katharine Lackey
April 1, 2010

Student-run sites teach importance of saving, good credit


When students at Carter High School in Strawberry Plains, Tenn., forget their lunch money, they don't have to worry about going hungry.

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