So what happens if you take those underwater borrowers out of the homeownership equation? Just because you owe more on your mortgage than your home is worth doesn’t necessarily mean that you are no longer able to afford your mortgage. The definition of home ownership, at least according to the Census, includes homeowners in a negative equity position.

The Obama Administration has been pushing lenders, Fannie Mae and Freddie Mac to write down principal on underwater mortgages in order to put borrowers back into a positive equity position.

The season of overindulgence is upon us and with just 12 days until Christmas, the holiday party circuit is in full swing. Whether it’s your local professional association, community organization, or employer, the holiday party is a great opportunity to connect with those whom you don’t often get to spend much time with.
However, the festive nature and casual atmosphere of these parties can lead to bouts of overindulgence that can cause a lot of trouble back at the office. Here are four tips for avoiding those dangerous holiday temptations:

It’s official: Americans are swearing off credit cards. 
According to data released by the Federal Reserve Bank earlier this month, credit card transactions fell an estimated 0.2% last year. What’s significant is that, overall, paying for purchases electronically increased by more than 9%, thanks to a huge jump in debit card use. (1)
In fact, more of us are swiping our debit cards than whipping out our checkbooks. While the number of transactions made via debit card rose nearly 15% last year, writing a check is rapidly going the way of top ...

Mounting personal debt levels pose a significant threat to Canada's economy and borrowers must recognize that interest rates are only going to rise, Canada's top policy makers warned on Monday.

Time Warner Cable Inc., the second- largest U.S. cable operator, has named Chief Financial Officer Rob Marcus president and chief operating officer.

Sanderson Farms Inc., the fourth- largest U.S. chicken processor, may not be able to begin building a second North Carolina plant in March as planned, Chief Executive Officer Joe Sanderson Jr. said.

Best Buy Co., the world’s largest consumer-electronics retailer, fell the most in more than eight years after slashing its annual profit forecast amid increasing competition from Wal-Mart Stores Inc. and Target Corp.