Help The Consumer

Welcome Back!

This morning I found an article from the Associated Press stating...

"...the Federal Reserve Chairman Ben Bernanke has steadied Wall Street by telling Congress the recession might end this year. Bernanke predicted the economy is likely to keep contracting in the first six months of 2009. But he also said, "there is a reasonable prospect" the recession will end this year. He reports, and warns that a recovery will require getting credit and financial markets to operate normally."

What does this mean to the average consumer? The consumer's confidence spending index for February came in at 25 on a scale of 100. That is obviously well below expectations. These concerns attribute to unemployment rates on the rise, adjustable mortgages increasing, and the stock market remaining in an unstable position. The Home Owner Affordability and Stability Initiative has not been implemented. However, it will affect the consumers on many different levels. It is intended to keep people in their homes first and foremost. Further, it aims to lower monthly payments, thus it could change spending habits in a positive manner.

In an effort to get the credit and financial markets to operate normally the Treasury Department, the Federal Reserve, and other banking regulators said Monday that they could exercise an option to convert to government's stock in the banks from preferred shares to common shares upon results of a "stress test" of the banks the government has a stake in through TARP funds. The stress test will help the Treasury Department identify and weigh the toxic assets on the banks' books.

the President will address the U.S. congress this evening. It is important that all of us, as consumers, work to move forward and find solutions.

Renee Fogle
YourCreditCompany.com

Welcome!

Welcome to the brand new Your Credit Company Blog!

This is our first venture into the blogoshpere, and we are looking forward to expanding our efforts to educate and inform. Educate and inform, two of our primary reasons for existing. We encourage you to check out our main web page http://www.yourcreditcompany.com/ to see what we can do for you.

We will be focusing on issues that surround the housing market in this blog. This is a broad range and this should keep us busy providing fresh new content. If there is another topic you would like for us to blog on, please let us know. We do not operate in a vacuum!

Our Mission...

...at YourCreditCompany.com is to provide you with the answers, solutions, and services you need to resolve with any credit-related issues. We also provide the information and resources to help you understand your options when facing financial decisions.

Our Commitment to you, who read this blog

We will not simply quote news articles. We will pull press releases from the original source. There will be no anonymous sources here. The author's name will appear on each post and the source will be cited for that post.

All authors will accept the possibility of being wrong, and make a correction, but we will accept no liability, and will give no advice. If you are reading a blog of this subject matter, I think we can all assume that you are astute enough to make your decisions and take responsibility for the subsequent result.

We look forward to all comments and remember that word of mouth is the best form of advertising. We strive to have each person tell 5 others about this blog.

Enjoy!

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Affordability and Stability Plan