When a borrower falls behind on monthly mortgage payments, they run the risk of defaulting on their home loan. Once a buyer defaults on their mortgage, the financial institution holding the mortgage on the home may begin a process known as foreclosure. Foreclosure is the financial institution's right to protect their interest should a borrower not be able to keep up with the required payments on their home. FULL STORY

The Federal Deposit Insurance Corporation is a United States government corporation created in 1933. It provides deposit insurance which guarantees the safety of checking and savings deposits in member banks, currently up to $100,000 per depositor. FULL STORY

Being recession-proof means being prepared in case you lose your job. What if, no matter how amazing an employee you are, you get laid-off? You must have a financial backup plan.
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Inflation is an increase in the quantity of money and credit. Its chief consequence is soaring prices. Therefore inflation—if we misuse the term to mean the rising prices themselves—is caused solely by printing more money. For this the government’s monetary policies are entirely responsible. FULL STORY

The gross domestic product (GDP) or gross domestic income (GDI) is one of the measures of national income and output for a given country's economy. GDP is defined as the total market value of all final goods and services produced within the country in a given period of time (usually a calendar year). It is also considered the sum of a value added at every stage of production (the intermediate stages) of all final goods and services produced within a country in a given period of time, and it is given a money value. FULL STORY

What Was The Great Depression?

The Great Depression of 1929 was a worldwide economic depression that lasted approximately 10 years. On October 24, 1929, “Black Thursday” when 12.9 million shares of stock were sold in one day, triple the normal amount prices fell 15 - 20%, causing a stock market crash. FULL STORY

The emergency Economic Stabilization Act of 2008, more commonly known as the bailout of the U.S. financial system, is a law which was signed into power that gives the United States Secretary of Treasury up to 700 billion dollars with which it can purchase assets and mortgage-backed securities from banks which are facing issues. FULL STORY

Government grants are sums of government money that the government hands out to an individual, group, business, or organization if they meet the requirements. Generally, you need to apply for government grants to get them, and this can be done by getting grant applications on the grants that you are interested in. Grants can help you in a number of different ways, no matter who you are. There are a huge number of government grants, and literally millions of dollars available every year to whomever applies and qualifies for them. FULL STORY

Unemployment is what the status of not being employed is called. If you get laid off, downsized, lose your job due to a failing business, or end up with no work because demand for what you used to do has diminished, than you are considered unemployed. Unemployment is a problem that comes and goes with the modern financial cycle. FULL STORY

This is a list of the total announced layoffs at America's 500 largest public companies as measured by a composite ranking of sales, profits, assets and market value during January 2009.

Total Announced Layoffs: 151,352

January 5th

Cigna: reduces workforce by 4% (1,100 jobs).
United States Steel: cuts 50 jobs as it closes production lines in Texas. FULL STORY

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When it comes to the economy, one thing that can definitely be said is that nobody knows what will happen. Analysts might speculate, professionals might deliberate, and economists might theorize… but in the end, nobody can predict the future. FULL STORY

The Federal Reserve System, known informally as the Fed, is the core center banking system of the United States. It was founded back in 1913 by the government when it enacted the Federal Reserve Act. There are twelve regional Federal Reserve Banks located in large cities around the U.S. They act as fiscal agents, each one, for the U.S. Treasury. FULL STORY

Home eviction is not all that uncommon, and here are some things to remember about it. Remember that by the time you get an eviction notice, you only have a short amount of time left to move. Do not ignore an eviction notice! If you have gotten to the point where you receive an eviction notice, you should arrange to take your belongings somewhere very soon. FULL STORY