The Seattle Times recently reported that housing prices in King County are more affordable now than it has been in 17 years.
Students to receive loan repayment relief
The NY Times reports that President Obama is rolling out new programs to lower student loan monthly payments. The program is an attempt to relieve new graduates and those graduates looking for employment relief.
New HARP rules allow homeowners to refinance
The NY Times reports that President Obama has proposed new rules for federally guaranteed mortgages. The good news for homeowners battling tough economic times is that it will help to reduce the monthly mortgage payments of up to one million homeowners.
[Read more…]
Social Security recipients will receive 3.6 percent boost
The AP reports that Social Security recipients will receive a 3.6% cost of living adjustment for 2012. It has been two years since the last increase for recipients.
Via AP:
About 8 million people who receive Supplemental Security Incomewill also receive the 3.6 percent cost-of-living adjustment, or COLA, meaning the announcement will affect about one in five U.S. residents.
Monthly Social Security payments average $1,082, or about $13,000 a year. A 3.6 percent increase will amount to about $39 a month, or just over $467 a year, on average.
Mariners owner in huge debt
The Seattle Times has a report on the Seattle Mariners key minority owner Chris Larson and his mounting debt. Court papers in his divorce show that Larson, a minority owner holding over 30% of the baseball team, lived a lavish lifestyle but the recent downturn in the economy has hurt his finances. [Read more…]