TOPIC WE READ FROM: http://www.huffingtonpost.com/2012/04/10/student-loan-forgiveness-act-2012-hansen-clarke_n_1415910.html
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Student Loan Forgiveness Act 2012: Rep. Hansen Clarke Proposes Bill To Cut Debt After 10 YearsU.S. Rep. Hansen Clarke (D-Mich.) joined students from a classroom in Detroit to discuss his plan to ease student loan debt. Taking advantage of Google’s video conferencing service Google+ Hangout, Clarke explained the details of his Student Loan Forgiveness Act of 2012 to a physical audience at Wayne State University, as well as a virtual one comprising students from across Michigan and the country. H.R. 4170 would forgive student loan debt for those who have paid 10 percent of their discretionary income toward their loans for 10 years and would cap interest on federal student loans at the current rate of 3.4 percent. Individuals who go into teaching, public service or practice medicine in underserved areas would have their debt forgiven after only five years.”Everyone tells us to go to school and work hard and we’ll be rewarded for our dedication,

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Student Loan Forgiveness Act 2012: Rep. Hansen Clarke Proposes Bill To Cut Debt After 10 Years
U.S. Rep. Hansen Clarke (D-Mich.) joined students from a classroom in Detroit to discuss his plan to ease student loan debt. Taking advantage of Google’s video conferencing service Google+ Hangout, Clarke explained the details of his Student Loan Forgiveness Act of 2012 to a physical audience at Wayne State University, as well as a virtual one comprising students from across Michigan and the country.
H.R. 4170 would forgive student loan debt for those who have paid 10 percent of their discretionary income toward their loans for 10 years and would cap interest on federal student loans at the current rate of 3.4 percent. Individuals who go into teaching, public service or practice medicine in underserved areas would have their debt forgiven after only five years.
“Everyone tells us to go to school and work hard and we’ll be rewarded for our dedication,” Clarke said Tuesday. “But the promise of a dream can turn into a nightmare for so many people.”

http://www.cnn.com/2012/04/26/opinion/kamenetz-obama-higher-education/index.html

LISTEN HERE: http://www.blogtalkradio.com/credittalkusalive/2012/04/27/student-loan-forgiveness-act-2012-would-you-vote-for-it

The world will only have to wait a few more weeks to find out whether Fannie Mae and Freddie Mac will allow principal reductions on mortgages they back.
The Federal Housing Finance Agency will decide this month whether Fannie and Freddie should allow write downs on the balances of borrowers who owe more than their homes are worth, said Ed DeMarco, acting director for the agency. Fannie and Freddie have been at the center of a tug-of-war over fixing the housing market. They have long resisted calls to write down the balances on the loans in their portfolio, saying it would be too costly for taxpayers.
But the pressure has been building, especially in the wake of the $26 billion mortgage settlement that will reduce principal for 1 million borrowers whose loans aren’t backed by Fannie and Freddie.

http://money.cnn.com/2012/04/09/news/economy/mortgages-principal-reduction/index.htm?iid=HP_LN

http://credittalkusa.blogspot.com/2012/04/credit-talk-usa-live-fannie-mae-freddie.html

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With little more than three months until the interest rates on federally subsidized student loans double, students are pushing lawmakers to help them out.
On July 1, the interest rate on federal subsidized loans will double to 6.8%. That means students taking out loans for the next school year will eventually dig deeper in their pockets to pay them off.

Nearly 8 million students have subsidized student loans, which means the federal government subsidizes the interest rate for lower- and middle-income families based on financial need.

http://money.cnn.com/2012/03/13/pf/college/student_loans/index.htm

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LISTEN LIVE ON 3-22-2012 11AMCST-  http://www.blogtalkradio.com/credittalkusalive/2012/03/22/college-students-deliver-more-than-130k-letters-to-congress

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http://credittalkusa.blogspot.com/2012/03/credit-talk-usa-live-college-students.html

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Wells Fargo will start charging $7 a month for checking accounts in six more states, expanding on its efforts to do away with free checking accounts altogether.
While Wells Fargo (WFC, Fortune 500) stopped offering free checking accounts to new customers in 2010, existing customers were able to hold onto their free accounts. But then last year, the bank transitioned a group of existing customers — mainly in Western states — to the same $7-a-month accounts that it provides new customers. And now existing customers in six more states are about to be hit with the fee.

http://money.cnn.com/2012/03/07/pf/wells-fargo-checking-fee/index.htm?iid=HP_LN

http://www.dailyfinance.com/2012/03/08/is-your-bank-killing-free-checking/

LISTEN LIVE HERE: http://www.blogtalkradio.com/credittalkusalive/2012/03/15/wells-fargo-to-charge-7-fee-on-more-checking-accounts

Congress is considering legislation that would require credit agencies to delete paid-off medical debt from credit reports within 45 days.

Listen live this week to Credit Talk Live USA Worldwide as we tackle this issue.

Song Pick of the Week

Off The Wall Segment

Love, lust, seduction, satire, politics, and personal observations are woven seamlessly together into a beautiful tapestry of intellectual intercourse. 200 pages of new poetry plus never before seen illustrations from author, activist, & cultural arsonist Otep Shamaya.

Buy your copy today.

Jackass of the Month

Here is an actual Rick Santorum quote: “One of the things I will talk about, that no president has talked about before, is I think the dangers of contraception in this country.” And also, “Many of the Christian faith have said, well, that’s okay, contraception is okay. It’s not okay. It’s a license to do things in a sexual realm that is counter to how things are supposed to be.”

“It’s the American Dream to own a home, but whoever said that didn’t do the analysis on it,” says Arzaga, knowing he’s taking a contrarian stance to conventional wisdom.

Examining 250 properties around the U.S., and going through close to 40 client files to project the financial impact of owning real estate versus liquidating it, Arzaga, an adjunct professor in personal finance at the University of California at Berkeley, found that, “100 percent of the time it was better to rent, rather than own.”

Listen live this week to Credit Talk Live USA Worldwide as we tackle this issue.

Song Pick of the Week

Off The Wall Segment

Love, lust, seduction, satire, politics, and personal observations are woven seamlessly together into a beautiful tapestry of intellectual intercourse. 200 pages of new poetry plus never before seen illustrations from author, activist, & cultural arsonist Otep Shamaya.

Buy your copy today.

Jackass of the Month

Here is an actual Rick Santorum quote: “One of the things I will talk about, that no president has talked about before, is I think the dangers of contraception in this country.” And also, “Many of the Christian faith have said, well, that’s okay, contraception is okay. It’s not okay. It’s a license to do things in a sexual realm that is counter to how things are supposed to be.”

Think your funds are protected against debit card fraud? Think again.

Greater than 25 percent of sever database breaches in the US involve credit and debit cards, according to the Identity Theft Resource Center. While there are laws that limit consumers’ liability for fraudulent charges, there are instances where debit card users may be left footing the bill.

Listen live this week to Credit Talk Live USA Worldwide as we tackle this issue.

Song Pick of the Week

Off The Wall Segment

Love, lust, seduction, satire, politics, and personal observations are woven seamlessly together into a beautiful tapestry of intellectual intercourse. 200 pages of new poetry plus never before seen illustrations from author, activist, & cultural arsonist Otep Shamaya.

Buy your copy today.

Jackass of the Month

Former Presidential candidate Michele Bachmann has given up her hopeless crusade to win the White House, but she doubled down in the run up to the Iowa caucuses by making sure conservative Hawkeye voters know that she hates gays more than all of the other candidates.

At a stop in Council Bluffs, IA she told supporters that she’s “100% on the side of life,” which is Tea Party dog whistle talk for “I love zygotes so much and have never ovulated.” But she really dug in on the issue of gay rights.

A new special task force to investigate and prosecute those responsible for bad mortgages during the housing boom will be part of President Obama’s 2012 agenda.
Obama announced Tuesday that he’s asked the Justice Department to create a special unit of prosecutors and state attorneys general to investigateg abusive lending and packaging of risky mortgages that led to the housing crisis. And he’s tapped an avowed Wall Street enemy, New York Attorney General Eric Schneiderman, to help run the crime unit, according to a White House official. This new unit will hold accountable those who broke the law, speed assistance to homeowners, and help turn the page on an era of recklessness that hurt so many Americans,” Obama said in his State of the Union speech.

http://money.cnn.com/2012/01/25/news/economy/mortgage_crime/index.htm