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"Even when a lender records its mortgage lien prior to the "first actual improvement", there are still potential hurdles for the lender to overcome..."

Protecting the Priority of Mortgage Liens

Vol. 27

No. 6

June

2015

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Your Money, Your World: Things You Should Know, Things You Should Do

US Paychecks Rise at Modest 0.6 percent Pace in 3rd Quarter

US workers' paychecks grew at a moderate rate over the summer, showing little sign of accelerating from the sluggish growth that has persisted since the recession ended. Read more here.

Falling Crude Oil Prices Lead to

Savings at the Pump

Falling crude oil prices supported by builds in domestic inventory have contributed to the national average price for regular unleaded gasoline moving lower over the past several weeks. The average price at the pump has fallen for 17 consecutive days, for a total savings of 12 cents per gallon. The national average currently sits at $2.20 per gallon, the lowest price since February. read more...

 

How are gas prices in your area? Check out the

AAA Daily Fuel Gauge Report.

How the budget deal changes

Social Security for couples

Among its many provisions, the budget deal moving quickly through Congress puts an end to "file-and-suspend," a lucrative strategy for couples that can boost lifetime Social Security retirement benefits by hundreds of thousands of dollars.

read more...

WalletHub Report: Does Banking Locally

Save You Money?

Most people expect small community banks to operate a bit differently than big national banks. There’s certainly rhyme to that reason, but we also tend to assume those mega-banks offer standardized national rates, regardless of where their customers happen to live. That part, interestingly enough, isn't quite true.  read more...

Owners Agree to Change Employment Practices at 4 Companies after

US Labor Department Finds Significant Wage Violations at Michigan Hotel

Workers in the hotel industry are hard-working people who greet us with a smile as they welcome us. Many of these workers earn low wages and often struggle to meet basic needs. US Department of Labor Wage and Hour Division investigators found significant minimum wage and overtime violations at the Ramada Hotel Grayling, operated by Wellston, Michigan-based Satnaam Ji Inc.

read more...

Don’t Be a Zombie with

Your Personal Finances

“The Walking Dead” is a television show about a world in chaos due to a zombie outbreak. The survivors face difficult decisions and run into trouble dealing with both zombies and the living.

In the real world, many servicemembers who protect our country run into financial trouble or face difficult financial decisions, but may not be aware of consumer protections that are available to them. Unfortunately, some servicemembers may be walking around in a financial fog, unprepared for dangerous threats to their financial well-being.

read more...

2015 Credit Card Debt Study:

Trends and Insights

With the global economy showing signs of extreme volatility and debate raging over both the timing and frequency of Federal Reserve rate hikes, data that speaks to the financial health of the average American household can be quite telling. Credit card debt statistics, in particular, reflect consumer sentiment and can foretell overleveraging bubbles that may trigger constriction in credit markets. Read more from CardHub.com.

CFPB Takes Action Against Nationwide Student Financial Aid Scam

The Consumer Financial Protection Bureau (CFPB) is taking action to halt a nationwide student financial aid scam that allegedly ripped off tens of thousands of students and families across the country by illegally charging millions of dollars in fees for sham financial services. The Bureau filed a complaint in federal court against the company, which operates under the names of Student Financial Resource Center and College Financial Advisory, and the individual who owns and operates the scheme. The CFPB is seeking to halt illegal practices and obtain relief for harmed consumers. read more...

CFA: Debt Settlement Agencies Do More Harm Than Good

According to the CFA, debt settlement companies have been severely criticized by federal and state government agencies, by financial columnists, and by consumer advocates, yet continue to market dubious services to consumers desperate for debt relief. While these companies offer the promise of substantial reductions in a consumer’s debt load, they also require consumers to default on all these debts. read more...

The AIDS of Ransomware: VirRansom

KnowBe4 CEO Stu Sjouwerman has issued a warning against a scary new strain of ransomware, one with a difference. This one is a true, self-replicating parasitic virus called VirRansom, which combines CryptoLocker and CryptoWall functionality with an active, self-replicating virus.  read more...

The Michigan Economic Snapshot
Consumer Expenditures for the Detroit Metropolitan Area: 2012-2013 read more...
 
Changing Compensation Costs in the Detroit Metropolitan Area – June 2015
read more...
 
Consumer Price Index, Detroit-Ann Arbor-Flint – August 2015  read more....
 
Consumer Price Index, Midwest Region – September 2015  read more...
 
Detroit Area Employment – June 2015
read more...
 
Employer Costs for Employee Compensation for the Regions – June 2015 read more...
 
Average Energy Prices, Detroit-Ann Arbor-Flint – September 2015 read more...
 
County Employment and Wages in Michigan – Fourth Quarter 2014 read more...
 
Occupational Employment and Wages in Warren-Troy-Farmington Hills, Mich. Metropolitan Division – May 2014 read more...
 
Occupational Employment and Wages in Detroit-Livonia-Dearborn, Mich. Metropolitan Division – May 2014 read more...
 
Occupational Employment and Wages in Grand Rapids-Wyoming, Mich. MSA – May 2014 read more...
 
Alternative Measures of Labor Underutilization, Michigan – 2014 read more...
 
Union Membership in Michigan – 2014
read more...
 
Fatal Work Injuries in Michigan — 2013
read more...
 
Occupational Employment and Wages For Selected Engineering Occupations in Michigan’s Metropolitan Areas – May 2012 read more...

Treasury Announces Proposed Regulations Implementing the

Supreme Court’s Same-Sex Marriage Decision for Federal Tax Purposes

The US Department of the Treasury and the Internal Revenue Service (IRS) has announced proposed regulations providing that a marriage of two individuals, whether of the same sex or the opposite sex, will be recognized for federal tax purposes if that marriage is recognized by any state, possession, or territory of the United States. The proposed regulations would also interpret the terms “husband” and “wife” to include same-sex spouses as well as opposite-sex spouses. These regulations implement the Supreme Court’s decision in Obergefell v. Hodges. read more...

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