Saturday, Jun. 28, 2008

Dollars & Sense

Workshop for those with mortgage issues

Homeowners concerned about their mortgages can get free advice and a chance to negotiate with lenders at a foreclosure prevention workshop today in Modesto. Mortgage modification representatives from Countrywide Home Loans, Washington Mutual, IndyMac Bank and Freddie Mac will be at the event to talk to borrowers about possible loan options. To better prepare for the event, homeowners are encouraged to download and fill out two forms posted at www.modbee.com/housing. The Foreclosure Conference Intake Form and the Household Budget Form will help homeowners gather the data they will need to negotiate with lenders and work with counselors. The workshop is open to all homeowners. The event, from 8 a.m. to 3 p.m., will be at the Stanislaus County Agricultural Center's Harvest Hall, 3800 Cornucopia Way, Modesto. Parking is free; reservations are not needed.

Stimulus payments boosted incomes

Millions of economic stimulus payments sent incomes surging in May by the largest amount since a recession- fighting effort by President Ford 33 years ago. The money pushed consumer spending up by the biggest amount in six months. Economists warned the rise likely would be short- lived given the problems facing consumers. The Commerce Department reported Friday that after-tax disposable incomes jumped 5.7 percent in May, the biggest one-month gain since a 6.3 percent increase in May 1975.