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States with highest foreclosure rates shift
Posted 02/17/2012
December, 2011 unemployment: 9.9% (6th highest)
Home price change (2006Q3-2011Q3): -49% (3rd largest decline)
Processing period: 135 days
2. New Jersey—
2011 foreclosure rate: 6.4%
December, 2011 unemployment: 9% (13th highest)
Home price change (2006Q3-2011Q3): -22.6% (14th largest decline)
Processing period: 270 days
3. Illinois—
2011 foreclosure rate: 5.4%
December, 2011 unemployment: 9.8% (7th highest)
Home price change (2006Q3-2011Q3): -29% (7th largest decline)
Processing period: 300 days
4. Nevada—
2011 foreclosure rate: 5.3%
December, 2011 unemployment: 12.6% (the highest)
Home price change (2006Q3-2011Q3): -59.3% (the largest decline)
Processing period: 116 days
5. New York—
2011 foreclosure rate: 4.6%
December, 2011 unemployment: 8% (23rd highest)
Home price change (2006Q3-2011Q3): -13.6% (23rd largest decline)
Processing period: 445 days
Related articles
- Foreclosure activity edges higher in January (usatoday.com)
- Foreclosures and a Small Sign of Housing Recovery (247wallst.com)
- Foreclosures climbed in January (money.cnn.com)
- Chicago Foreclosure Activity in 2011 Indicates Hot Foreclosure Market in 2012 (prweb.com)
Federal Funding Essential to Finding and Aiding Homeless Students
Institute for Children, Poverty and Homelessness (ICPH)
October 2011
In recent years, there has been an unparalleled rise in the number of homeless students in the United States. Between the 2006 – 07 and 2009–10 school years, the number of homeless students increased by 38% (from 679,724 to 939,903). States with some of the most homeless students, New York (82,409) and Texas (76,095), witnessed substantial increases of 87% and 125%, respectively (figure 1). A 2010 National Association for the Education of Homeless Children and Youth (NAEHCY) and First Focus survey of state education departments and local school districts listed the top reasons for the increase in homeless students as the economic downturn (62%), greater community awareness (40%), the foreclosure crisis (38%), and the noteworthy efforts of homeless school liaisons in identifying students (33%).1 Across the U.S., homeless school liaisons have heightened outreach efforts to homeless students and have been particularly successful at identifying those living doubled up with family or friends, who are often more challenging to recognize. Hence, the majority of the overall nationwide increase between the 2006 – 07 and 2009–10 school years is due to a 59% rise in the number of those students living doubled up (table 1). In addition, economic factors stemming from the recession contributed to the overall increase, including an 11% rise in the number of students living in shelters. Despite the 38% increase from the 2006 – 07 school year, the number of students served declined two percent between 2008– 09 and 2009–10. This is due to California—the state with the most homeless students (193,796)—underreporting their numbers in 2009–10. Without considering California, the number of students served rose 12%.2.
To see the entire study click.…
Related articles
- Homeless kids lag in city schools: report (nydailynews.com)
- California’s Homeless Student Population Struggles In School (huffingtonpost.com)
- Is There Still a Need? (yarnfest.wordpress.com)
Teens Knock On Doors to Promote Savings
Posted By admin On September 1, 2011 @ 11:48 am In East Los Angeles (Unincorp.),General News |
Braving the hot climate and a large number of barking dogs, a handful of teens from East Los Angeles took to the streets last week to spread the word about creating wealth by saving.
Eighteen-year-old Brandon Rodriguez, an incoming senior at Garfield High School, is a graduate of Pan American Banks’ Youth Financial Literacy Ambassadors program.
Motivated by a desire to help lift up the community, Rodriguez said he was excited and ready to hit the pavement and share the message that there is hope for a better future if you start saving today.
Rocio Ortega, also entering her senior year at Garfield, has already signed up members of her family for Pan American Bank’s free Children’s Savings Accounts.
Pan American Bank’s Financial Literacy Ambassadors hit the streets last week in East LA knocking on doors and spreading the word about the bank’s upcoming youth conference and it’s “Keep on Saving” program. (EGP photo by Gloria Angelina Castillo)“It’s really hard. Yeah, we live in East LA, it’s a low-income community, low-income families, but I think a lot has to do with discipline,” Ortega said. She said many of the wage earners in local families are “making minimum wage, so it’s hard for them to save money when they’re living paycheck-to-paycheck.”
Ortega says understanding “needs” versus “wants” is fundamental to being able to save money and she regularly tells her friends, “You know what, you don’t need that.”
There is a lot of money in East LA, the community just needs to learn how to leverage it for their long-term benefit, Ortega and the other door-knocking volunteers told EGP.
Read this story IN SPANISH: De Puerta a Puertas, Jóvenes Promueven los Ahorros en el Este de LA [1]
On Sept. 10, the Financial Literacy Ambassadors will have another opportunity to spread what they have learned. Pan American Bank will host its 2nd Annual East LA Youth Financial Literacy Conference where the teens, along with the program’s grade school ambassadors, will lead workshops on topics that include: distinguishing needs from wants, how to make and keep to a budget, and how to save money. Targeted at children aged 5-13, attendees will be able to open a Children’s Savings Account immediately after the event. Starting early can lead to a lifetime of good financial habits.
The Youth Financial Literacy program started a couple of years ago after Pan American Bank CEO and President Jesse Torres read a report by the Federal Deposit Insurance Corporation (FDIC) that found nearly 50 percent of Latino families nationwide did not have a bank account, and were instead using check-cashing services and rent-to-own offers that charge high fees and interest rates.
That trend only seems to be growing; check-cashing businesses keep popping up all over East Los Angeles, said volunteers Rodriguez and Mike Gomez, 19.
Torres accompanied the teens on their route last week. “It’s important that we set the tone. That we say we’re serious about doing this, we’re putting the people behind it, we’re educating the kids, we’re hitting the pavement. If we don’t do that the message just won’t take,” he told EGP. “We want the most participation possible because we really believe in it.”
The bank’s goal is to open 14,000 children’s savings accounts. Torres estimates the accounts will cost the bank $12 each a year, including the bank’s initial $5 deposit. The additional cost is from sending out bank statements, maintaining the records on their computer system, etc.
“It’s a $12 investment now, but we know that over the course of the lifetime of these kids we’ll get that money back,” he said.
Like any other bank, Pan American Bank can increase its business by using saving deposits to create loans. Torres says the bank hopes its investment will lead to customer loyalty down the line when his young bank customers grow up and need a car, business, or home loan.
“It’s a definite upfront investment, but we know we’re here for the long-term. We’ve been here 46 years. We count on being here another 46. If we’re going to be here for that time, we have to invest now so down the road, 10-15 years, we have the benefit of an enlightened and economically empowered community,” and we can be a big piece in that, said Torres, who has also turned the bank into a community center of sorts, often hosting community groups and events at its branch in East Los Angeles.
The youth conference on Sept. 10 will be held from 8:30 a.m. to 1 p.m. at the Pan American Bank branch located at 3626 E. 1st St. in East Los Angeles. The bank has another branch in East Los Angeles, and one in Santa Ana. For more information visit http://www.panamericanbank.us or call (323) 264-3310.
Building Community, One Household at a Time 