Financial News Story of the Day – FHA May Need Its Own Bailout in 2012
The FHA itself may need a bailout next year according to a new report out of Washington. The federal agency has thus far insured more than $1 trillion in mortgages and will need rescue if the housing market does not rebound in 2012. If anyone is still questioning whether now is a good time to buy a home or not, a further drop in home prices is almost guaranteed (source: LATimes.com).
Excerpt: “The FHA’s projected losses on loans made mostly before 2009 continue to increase, eating away its cash reserves. The agency is dangerously close to being in the same dire position as many homeowners — upside down on its housing finances.”
Personal Finance Tip of the Day – The Right Way to Ask for a Raise
MoneyedUp.com had a great post today on the correct way you should go about asking for a raise. Simply put, the idea is that you should remove your own personal wants and needs out of the equation and focus instead on things like merit and performance when asking for a salary increase. Although asking for a raise is one of the toughest things to do, it shouldn’t be if you approach it the right way (source: MoneyedUp.com).
Excerpt: “Instead, understand that your personal financial needs are your own. Your employer is paying you because, presumably, you are an asset to the company. This is what you need to focus on. You need to demonstrate that you have been a good asset, and that you will continue to be a good asset. You need to show your value. This isn’t about deserving a raise; it’s about earning your raise.”
Daily Finance Summary – Occupy Wall St. New York Shut Down
Police shut down Occupy Wall St. in New York yesterday while reports of insider trading among Congress members are getting more attention. Gold is becoming attractive again as the Euro debt crisis worsens, the Bank of Japan cut its economic outlook and Walmart failed to meet earnings expectations.
Quick Question: What do you think will happen to home prices next year?
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