Finance Globe

On Monday, the Department of Energy (DOE) announced that Michigan was awarded $32 million and Iowa received $16 million in Recovery Act funding to go towards energy projects.Then ten states on Wednesday were awarded a total of more than $204 million to fund energy programs: Arizona, Connecticut, Florida, Idaho, Kansas, Minnesota, South Carolina, South Dakota, Utah, and Washington.“This funding will provide an important boost for state economies, help to put Americans back to work and move...

A bogus mortgage foreclosure prevention operation has been charged with violating the FTC Act by fraudulently claiming they could prevent foreclosure.The fake company not only failed to deliver on their promises and refused to deliver the guaranteed refund to troubled homeowners, but also misrepresented the earnings potential of a "loss mitigation consultant" business opportunity that they sold.The business activities of Arizona-based Freedom Foreclosure Prevention Services, LLC, Loss Mitigation Training Center of America, LLC, Jeffrey C. Segal,...

Sales of existing homes picked up the pace again in May, according to a report released by the National Association of Realtors (NAR). May's increase - spurred by more affordable home prices, historically low interest rates, and the $8000 first-time homebuyer tax credit - was the first back-to-back monthly increase since September 2005.Sales of single-family homes rose 1.9% to a seasonally adjusted annual rate of 4.25 million in May from a pace of 4.17 million in...

The Treasury Department announced on Monday that $268 million in American Recovery and Reinvestment Act funds will be released to create jobs and provide low-income families with affordable housing units in Indiana, Missouri, Tennessee, and Washington D.C. "Today's announcement of housing funds demonstrates how President Obama's Recovery Act is putting our nation on the path to economic stability, one community at a time," said Treasury Deputy Secretary Neal Wolin. "This initiative will help spur construction and...

Understand what it really means if you're considering cosigning a loan for someone. A creditor may require a cosigner when the applicant doesn't have the credit history that a lender requires to approve the loan - maybe they have no credit history or a poor credit history. A cosigner may be required for an auto loan, a personal loan, or even a home loan. The main benefit to getting a cosigner is that the lender will...

The unemployment rate continued to climb in nearly all states and regions for May, according to a report released today by the government. The national unemployment rate rose from 8.9% in April to 9.4% in May, and is now 3.9% higher than it was a year ago.Vermont was the only state to show no change in the unemployment rate of 7.3% from April to May, and Nebraska was the only state to actually report a decrease...

A payment processor that took millions of dollars - without authorization - from consumers' bank accounts has been ordered by a federal court to pay nearly $1.8 million in consumer redress and to end the illegal practice, according to a statement released today by the Federal Trade Commission.The FTC filed a complaint on Nevada-based InterBill LTD. and its owner Thomas Wells in 2006 for acting on behalf of a fake company known as "Pharmacycards.com". In 2004...

Nearly anyone can find a dealership that will give some type of financing for their next vehicle. But getting the best deal on a car loan - and saving money on those monthly payments - will require that you go in prepared.Before you apply for any type of credit, it's always good to know where your credit rating stands. But for big-ticket items like autos and homes, it is an absolute must that you get your...

Ten of the nation's leading banks won approval from the U.S. Treasury to repay about $68 billion in TARP funds, the government said Tuesday. "These repayments are an encouraging sign of financial repair, but we still have work to do," said Secretary Tim Geithner.Combined with repayments received to date from other institutions, Treasury will have received approximately $70 billion in repayments from Capital Purchase Program (CPP) participants. More than 600 banks across the country have participated...

The unemployment rate rose to 9.4% in May from 8.9% in April, according to a report released today by the Department of Labor.The pace of job cuts is slowing and the month of May lost 345,000 jobs - about half as many jobs as in each of the previous six months. Still, the job market remains weak and the unemployment rate is currently at a 26-year high. Since the start of the recession in December 2007,...