Recession leaves many in permanent cutback mode USA Today
The native of Guyana and former Marine carried balances on his credit cards, went out to dinner at least five times a week, and didn't pay attention to the price of gas.
Today, Hariprashad, owner of Ena's Driving School in Queens, N.Y., pays off his credit cards at the end of the month. He's making extra payments on the mortgage for the house he shares with his parents and hopes to pay it off in about 10 years. He shops around for the cheapest gas he can find and pays with cash to get a discount.
Hariprashad, 34, says the recession forced him to change his ways. Business slowed because customers didn't have as much money to spend on driving lessons. Faced with the threat of bankruptcy, he cut back on discretionary spending and used the money to pay off his credit cards. "Now, I have a clean slate," he says.
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Obama plan holds off on foreclosure rescue details
He has been pressing the administration to buy distressed loans in bulk so they can be refinanced at lower rates. "The flavor has changed,
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Government hopes bank aid helps recession recovery The TALF program, designed for credit card, student loan and auto lending, could be increased to cover commercial mortgage-backed securities, for instance. |
Eyes on Washington: Will the Senate Pass the Economic Stimulus Bill? - Helicopter Association International
Times OnlineEyes on Washington: Will the Senate Pass the Economic Stimulus Bill? Auto manufacturers have won an $11 billion tax incentive for new vehicle purchases. The provision would make interest payments on car loans, Video: Obama Talks Up Stimulus in Weekly Address Senate Set to Vote Next Week on US Stimulus Bill Comment by Adam S. Posen Dep. Dir., Peterson Institute for Int'l Economics
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Special Report: Staying Ahead of the Downturn - Phoenix Business Journal Special Report: Staying Ahead of the Downturn The federal Home Owners’ Loan Corp., created in 1933, purchased and refinanced more than 1 million delinquent home loans in the three years that followed, |
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Everyone’s Feeling Economic Pain, But It’s Hitting Minorities ... - La Prensa San Diego Everyone’s Feeling Economic Pain, But It’s Hitting Minorities With his credit cards maxed, Loera took a $2000 high-cost loan using his car as collateral to pay for gas and groceries. He paid interest of $175 every 15 |