The American consumer's financial health is showing signs of improvement, but the weak job market continues to derail the nation's economic recovery -- particularly for people in the lower income brackets, according to September's Consumer Reports Index, released on Tuesday.
U.S. Bankruptcy Court Judge Martin Glenn denied Wells Fargo's request for permission to foreclose on Tandala Mims's house in the Bronx for a second time on Thursday because he still wasn't satisfied that Wells -- as opposed to some other bank -- had the right to do so.
Most people raising the issue of false mortgage documents are homeowners facing foreclosure. And banks often respond that botched paperwork is a mere technicality -- nothing to worry about. Then you find a case like Wells Fargo's attempt to foreclose on Tandala Mims of New York.
A smaller percentage of mortgage holders were delinquent on their payments in the third quarter than in the second quarter, although the percentage of delinquencies remains up from the same period last year.
JPMorgan Chase kicks off earnings season for the financial sector Thursday, and investors will be keen to see whether a pick-up in mergers and acquisitions has offset an industry-wide drop-off in trading activity.
Several data points this week confirm an ominous new trend among desperate consumers: They have stopped paying their mortgages but they're continuing to pay off their credit cards so they can keep buying staples, like food.
