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Bank of America to Modify Mortgages

Bank of America
AP
Bank of America is working to adjust thousands of mortgages it acquired when it bought Countrywide in June that will allow homeowners in at least 11 states to either lower their interest rates, have their loan principal cut or get help moving into a new home. The move settles a lawsuit claiming that Countrywide's deceptive lending practices put families into "loans they couldn't understand and ultimately couldn't afford." From 24/7 Wall St.: Countrywide Gets Too Expensive for BofA
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WalletPop Blog

Our Black Friday 2008 Scorecard Kick-Off

The weather outside is hardly frosty, but it's already time to start thinking about holiday shopping. Black Friday is just around the corner, and retailers are already making their shopping lists of deals. Now you can start planning early too, and keep track of deals with our handy scorecard of 15 top retailers by clicking below. Also get started with: Wal-Mart | KB Toys | Ace Hardware | Expert Predictions

Black Friday Price Cuts

    The world's largest retailer is getting a headstart on the holiday shopping season, announcing that it will slash prices on the season's most popular toys to $10.

    Keith Srakocic, AP

    The price cuts will include some Barbie dolls, a favorite among young girls for decades. Retailers are bracing for what some economists predict could be the worst Christmas season since 1991 as sales struggle amid a weak U.S. economy.

    Ian Waldie, Getty Images

    Some Hot Wheels toys will also be included in the deal. Wal-Mart said it conducted a survey that showed consumers will start Christmas shopping earlier this year and make other changes to stretch holiday dollars.

    Denise Truscello, Golin Harris / WireImage

    Wal-Mart is also banking on Spin Master's Japanese-styled Bakugan Battle Brawlers with the deal, which is predicted to be the hottest new toy trend in the U.S. this year for boys. (Source: AP, Reuters)

    SPIN MASTER LTD / AP

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Test Your Knowledge of Financial Crises

From the Great Depression to the savings and loan crisis to the "Panic of 1907," the United States has had a history of bouncing back after tough economic times. Test your knowledge of U.S. financial crises in the quiz below.

US Financial Crises

When the stock markets first reopened after the 9/11 attacks, how many points did the Dow Jones fall?

  • 584
  • 684
  • 784

In which year did Black Monday take place?

  • 1982
  • 1987
  • 1991

The Dow dropped by what percentage on Black Monday?

  • Nearly 3 percent
  • Nearly 13 percent
  • Nearly 23 percent

How much did the U.S. government pay for the bailout during the savings and loan crisis of the 1980s and 1990s?

  • $125 billion
  • $325 billion

When did the Great Depression start?

  • 1929
  • 1933
  • 1939

Many economists blame the Smoot-Hawley act for the severity of the Great Depression.

  • True
  • False

About how many years did the Depression last in the U.S.?

  • 5 years
  • 10 years
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WalletPop Blog

What to Do If Family Needs a Loan

Every Friday, Ken and Daria Dolan answer questions from WalletPop readers. This week, a very sensitive topic: Should you loan money to family members or friends, and if so, what kind of agreement do you need? The Dolans offer a very clear response.
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WalletPop Blog

How Comprehensive to Get on a Used Car

Auto Insurance
Cassandra Shie, AOL
General liability, comprehensive, collision or all of the above? On a new car, it may be a no-brainer, but on a used car, what's worth the price? We run the numbers to see what kind of car insurance makes sense.
Also: Introducing Our New Small Business Auto Center | WalletPop's Insurance Answer HQ
> Full Coverage
WalletPop Blog

The Only Recession-Proof Career?

A hint: It's not a job in the Internet economy. Blogger Bruce Watson examines the moral history of countries under economic distress and wonders where we are going in America as we hear more and more stories of people selling sex as a way to get by during these bad times.

Recession Watch

    An employee of the MICEX, Moscow Interbank Currency Exchange, is seen at their offices in Moscow, Friday, Oct. 3, 2008. Russia's stock markets opened lower Friday in reaction to a torrid trading session in the United States, where fears escalated over the likely success of a Washington bank bailout plan to stave off a recession in the U.S. and around the world. (AP Photo/Mikhail Metzel)

    AP

    An employee of the MICEX, Moscow Interbank Currency Exchange, looks at a screen, in Moscow, Friday, Oct. 3, 2008. Russia's stock markets opened lower Friday in reaction to a torrid trading session in the United States, where fears escalated over the likely success of a Washington bank bailout plan to stave off a recession in the U.S. and around the world. (AP Photo/Mikhail Metzel)

    AP

    People are seen inside the offices of the MICEX, Moscow Interbank Currency Exchange, in Moscow, Friday, Oct. 3, 2008. Russia's stock markets opened lower Friday in reaction to a torrid trading session in the United States, where fears escalated over the likely success of a Washington bank bailout plan to stave off a recession in the U.S. and around the world. (AP Photo/Mikhail Metzel)

    AP

    Employees of the MICEX, Moscow Interbank Currency Exchange, are seen in Moscow, Friday, Oct. 3, 2008. Russia's stock markets opened lower Friday in reaction to a torrid trading session in the United States, where fears escalated over the likely success of a Washington bank bailout plan to stave off a recession in the U.S. and around the world. (AP Photo/Mikhail Metzel)

    AP

    A man walks past a homeless man on the streets of Madrid October 2, 2008. The number of people out of work in Spain rose to an 11-year high, rising for the sixth consecutive month as a collapse in the construction sector and global credit woes pushed Spain towards recession. REUTERS/Susana Vera(SPAIN)

    Reuters

    Men watch a stock index board in Tokyo October 2, 2008. The benchmark Nikkei average slipped 1.9 percent to a three-year closing low on Thursday despite passage of a $700 billion financial bailout bill by the U.S. Senate, as growing fears about the global recession offset relief. REUTERS/Kim Kyung-Hoon (JAPAN)

    Reuters

    A man walks past a stock index board in Tokyo October 2, 2008. The benchmark Nikkei average slipped 1.9 percent to a three-year closing low on Thursday despite passage of a $700 billion financial bailout bill by the U.S. Senate, as growing fears about the global recession offset relief. REUTERS/Kim Kyung-Hoon (JAPAN)

    Reuters

    A man watches a stock index board in Tokyo, October 2, 2008. The benchmark Nikkei average slipped 1.9 percent to a three-year closing low on Thursday despite passage of a $700 billion financial bailout bill by the U.S. Senate, as growing fears about the global recession offset relief. REUTERS/Kim Kyung-Hoon (JAPAN)

    Reuters

    People stand outside a job centre in central Madrid October 2, 2008. The number of people out of work in Spain rose to an 11-year high, rising for the sixth consecutive month as a collapse in the construction sector and global credit woes pushed Spain towards recession. REUTERS/Sergio Perez (REUTERS)

    Reuters

    People talk outside a job centre in central Madrid October 2, 2008. The number of people out of work in Spain rose to an 11-year high, rising for the sixth consecutive month as a collapse in the construction sector and global credit woes pushed Spain towards recession. REUTERS/Sergio Perez (REUTERS)

    Reuters

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Neighborhoods on the Movin'-On-Up List

lofts
Where can you go to find the most up-and-coming towns? Check out our gallery of these unique places to call home.
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Tom Barlow
Tom Barlow Filed Under: ,

How to deal with a deadbeat adult child

You've seen your cousin struggle with her son, Jerry. Lots of potential, always hot on the trail of a great job that will set him up for life, and only needs enough money to buy a good suit or get his...

Beth Wechsler
Beth Wechsler Filed Under:

Candidate dolls - will there be a scarcity?

If you didn't get your candidate doll from Walgreens, you're out of luck now. The battery-operated Obama, Clinton, and McCain dolls have been removed from the shelves.It's hard to know what anyone was...

Geoff Williams
Geoff Williams Filed Under:

What if you applied for a job--only to learn the job was a bank heist?

You've got to give this bank robber points for ingenuity and ambition.But, yes, yes, it's a terrible thing, and I hope he's caught.But still... a cautionary tale for anyone answering any classified...

Josh Smith
Josh Smith Filed Under:

Holy Mackerel! Fish make a slick currency in prison

I've always been fascinated with how underground economies work due in part to my addiction to reading any story about prison escapes. I can clearly remember the mastermind doling out packs of...

Zac Bissonnette
Zac Bissonnette Filed Under:

Fantastic Freebies: Subscription to Genre Magazine

Today's Fantastic Freebie is a subscription to Genre, a gay lifestyle magazine, courtesy of Nuwear. From the website:Nuwear is offering all our web visitors a free subscription to Genre magazine....

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