It’s no surprise that home foreclosures are on the rise in these tough economic times. Record numbers of people are in the foreclosure process or may know someone who is, as banks are quickly closing in on people’s homes. But one lending giant is taking the road less traveled. On Friday, JPMorgan Chase bank opened a Homeownership Center in Flushing to help area families keep their homes.
As we begin a new year, many are happier than they’ve ever been to see one year leave and a new one arrive. That’s due in large part to the nation’s struggling economy, one that ensured 2008 will be remembered as a year many would like to forget.
The old adage about the certainty of death and taxes is made even bleaker by this relentless recession. The United States Treasury will be affected in 2009 because the combination of high unemployment, low interest rates on savings and tumbling stock prices have resulted in capital losses and smaller, if any, dividends — meaning less tax revenue than what had been expected a year ago.
The Treasury secretary speaks and the markets fall. Another jobs report shows unemployment lurching upward. The holiday season ends and even the iconic Macy’s announces 7,000 layoffs and other restructuring measures.
Sterling National Bank celebrated its 60th anniversary in Queens last month, and to mark the occasion, it invited customers to join in the festivities.
Following a few easy steps can help keep your head above water during tough financial times.
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