Money Guidance via Podcast

graduates

Targeting those in college or planning for college, the U.S. Consumer Financial Protection Bureau recently launched a podcast called Financial inTuition. The six episodes currently available are divided into two categories: three episodes focused on student loans, and three on basic money management skills with a focus on issues faced by students.

Each episode includes an interview with either an expert or a consumer with first-hand experience. It’s always helpful to learn from other people’s experience!

The podcast is available free wherever you get your podcasts, OR directly from the CFPB website. It is part of a broader set of resources targeting students and young adults on topics like paying for college (including information about student loans and the GI Bill), and money management information for economically-vulnerable consumers (which includes most young adults just starting out) on topics like building credit access and finding money to save. They also provide materials for both youth educators and adult educators.

Check out these resources for yourself OR share them with someone you care about!

Barb Wollan

Barb Wollan

Barb Wollan's goal as a Family Finance program specialist with Iowa State University Extension and Outreach is to help people use their money according to THEIR priorities. She provides information and tools, and then encourages folks to focus on what they control: their own decisions about what to do with the money they have.

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There’s Still Time to Ask for Mortgage Help

COVID-19 has reduced the incomes of SO many Iowans, making basic survival harder. If you are worried about protecting your home if you are unable to make your mortgage payments, you may have options – but you won’t know unless you ask! Watch this video from the Consumer Financial Protection Bureau for the facts you need to know about mortgage forbearance.

Woman standing in lobby with text "COVID-19 Mortgage Relief: 4 Things to Know"

The CARES Act requires that consumers be offered at least 180 days “forbearance” if their mortgage is backed by a federal agency (FHA, VA, USDA, Fannie Mae, or Freddie Mac). Many lenders are also making forbearance available for privately-backed loans. You will eventually need to make up for the missed payments, but you will have some time to catch up. Beware of any housing relief offers that require you to pay a fee up front – those are likely scams.

For more information about housing relief options, visit cfpb.gov/housing. For help sorting through your options on a wide range of financial issues, request an individual consultation with one of our ISU Extension family finance specialists.

Barb Wollan

Barb Wollan

Barb Wollan's goal as a Family Finance program specialist with Iowa State University Extension and Outreach is to help people use their money according to THEIR priorities. She provides information and tools, and then encourages folks to focus on what they control: their own decisions about what to do with the money they have.

More Posts

Unhappy about your Payday Loan? Tell the CFPB!

yellow light-cropWe generally discourage people from considering payday loans as possible solutions for their problems – it’s costly and can be part of a downward financial spiral.

In November 2013, for the first time, the Consumer Financial Protection Bureau (CFPB – www.consumerfinance.gov) took legal action against a payday loan company. And they now have a link for submitting complaints about payday loans.

The CFPB is a new federal agency whose purpose is to regulate the financial products industry, in order to protect consumers.  They accept complaints about any financial product. They’ve recently added payday loans to their eight specific categories (plus a ninth “other” category) to choose from when submitting a complaint:   mortgage, debt collection, credit reporting, bank account or service, credit card, money transfer, payday loan, student loan, vehicle or other consumer loan.

If you want to tell the CFPB about something that isn’t exactly a complaint, they also have a link where you can tell them your story.  Hearing from consumers is essential for the CFPB to do its job, so if you have had problems, or even just interesting experiences (positive or negative) telling the CFPB may help lead to better regulation, better consumer information, or better education for everyone!

~Barb

Barb Wollan

Barb Wollan

Barb Wollan's goal as a Family Finance program specialist with Iowa State University Extension and Outreach is to help people use their money according to THEIR priorities. She provides information and tools, and then encourages folks to focus on what they control: their own decisions about what to do with the money they have.

More Posts

    

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