It’s been a decade since the financial crisis, but millions of Americans are still paying off debt and struggling to make ends meet.
This week, we’re looking at some of the major problems that plague the country, and why they could have such a huge impact on your finances.
Foreclosure and credit card debt Foreclosures are a major problem for millions of people, and they can also hurt your credit score.
In the United States, more than 2.3 million people are currently in foreclosure, according to the National Association of Realtors.
That number is expected to rise to 3.3 Million by the end of 2020.
But the biggest threat to your credit is probably not your home but your credit card.
The credit card industry has been a major driver of the country’s massive debt problem, and it’s only getting worse.
According to a study from Credit.com, there were 1.5 million Americans who had defaulted on their credit cards last year.
And nearly half of these people owe more than $500,000.
That’s not to mention the hundreds of millions of consumers who have been saddled with debt that has grown from their parents’ and grandparents’ generation.
Bankruptcy laws The government doesn’t have a lot of say when it comes to dealing with bankruptcy, and banks don’t have much say either.
That’s where the law comes in.
When a bankruptcy is filed, the government must approve the bankruptcy and the court has the authority to approve the creditor’s bankruptcy filing.
If you have an outstanding credit card or debt that the government wants to put in a bankruptcy, the bank is responsible for the bankruptcy filing process, but it can’t be forced to do so. 3.
Mortgage interest rates As the mortgage market heats up, the rates on mortgages are soaring.
If your mortgage interest rate is going up, it could mean that you’re in the doghouse and could be out of the game sooner than you think.
The Federal Reserve and many lenders are warning that rates are going up. 4.
Consumer debt laws Consumer debt has been increasing exponentially in recent years.
According to a report by the Federal Reserve Bank of Atlanta, the number of consumer credit cards in the United State is going from over 1 Billion in 2013 to 2.6 Billion today.
However, according with the Consumer Finance Protection Bureau, the amount of debt that consumers are paying on their accounts has increased by over $5.6 Trillion.
This debt is largely due to the fact that the average person in the U.S. doesn’t own a car.
Health insurance costs Many Americans are seeing their insurance costs soar due to health insurance mandates.
Mortgage insurance costs According to an analysis by the National Consumer Law Center, the average household will have to pay more than a $2,000 increase in monthly mortgage insurance premiums.
That means that even if you do manage to save a little bit of money and have enough money saved to cover the cost of mortgage insurance, you will have a much higher monthly cost to pay than you would otherwise.
Mortgage loans and auto loans Many homeowners are struggling to pay their mortgages.
A recent study from the Federal Deposit Insurance Corporation showed that about 20% of Americans said they were unable to pay back their mortgage.
Foreclosed properties Many homeowners who have lost their homes are seeing the value of their homes fall drastically as foreclosing rates increase.
According with the National Insurance Institute, foreclosure rates have been rising steadily in recent months.
Foreclosing on a property If you’re a homeowner who lost your home due to foreclosure, you may be in luck.
According the National Mortgage Settlement, it may be possible to refinance your mortgage on your current mortgage to a lower-interest loan that you can get from your lender.
Fannie Mae and Freddie Mac Freddie Mac has become one of the largest lenders in the country.
In recent years, the company has taken on huge amounts of debt from taxpayers, which has caused it to have to make major changes in its lending practices.
For instance, the firm recently announced it would stop selling mortgages in certain markets.
Housing costs and taxes The mortgage rate that you pay on your home could be the difference between you being able to pay your rent and not.
According an analysis of data by the U,S.
Census Bureau, mortgage rates are rising.
Foreclose sales The foreclosure process is a long, complicated and costly process.
According in a study by the Consumer Financial Protection Bureau and the National Legal and Policy Center, forecloses are happening more frequently and are increasing in cost.
Home price appreciation Many Americans have been priced out of their home by rising property prices.
According a recent report from the National Law Journal, a median home price of $1,828,000 was up $4,