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The recent debt ceiling deal is also known as the "Budget Control Act of 2011". However, all the spending cuts that have been suggested in the deal are unspecified at this point of time. Nevertheless, the financial experts have noted that some people have gained from this debt ceiling deal whereas others have lost ground due to this deal.

In the recent times, it has been found that the utility bills have increased in leaps and bounds. Meanwhile, the green movement has also gained ground and is stressing on the importance of energy conservation. Thus, homeowners are now getting plenty of incentives to save their hard earned dollars on their utility bills.

The government's new credit score disclosure rule is a good news for the loan applicants!! This new disclosure will now mean that more consumers will get a free peek at their credit scores starting from July 21, 2011. It is expected that the individual creditors may do more than that and provide a credit score disclosure to every applicant.

In the last few weeks, one thing has been a constant subject of discussion - Debt Ceiling. You may have though that you won't be affected by debt ceiling but you're wrong. Most of the people in this world will be affected due to this debt ceiling. Due to this debt ceiling, iIt may happen that the government will have to helplessly stand by and watch the economic problems rise.

The size of mortgages which are eligible for government backing is set to decline in October, 2011. The industry experts fear that this may negatively affect the mortgage market and lower the property prices even further.

The Emergency Homeowners' Loan Program (EHLP) is intended to offer a zero interest, forgivable bridge loan to homeowners who are experiencing a drop in income of at least 15% directly. This drop in income may result from involuntary unemployment or underemployment due to adverse economic conditions and/or any medical emergency.

Here are list of eligibility criteria which the homeowners’ need to meet in order to qualify for EHLP:

Managing credit is an important issue for all of us. However, it is comparatively easier for empty nesters or retirees to manage their credit. This is because most of their debts have been paid off. However, it is advised that retirees should manage their credit or else they may be in a difficult situation if they wish to take a out a loan or a mortgage later on.

Self-employment can be a viable option for all those who have lost their jobs due to the recent economic crisis. The best part of being self employed is that you will be your own boss and you will be able to take your own decisions. However, there are certain dis-advantages of being self employed. Self-employment becomes a huge problem when you apply for a mortgage.

What are the main problems faced by self employed while getting a loan?
The 2 main problems faced by the self-employed people while getting qualified for a mortgage are:

A rebate credit card or a cash back credit card can be considered as a type of rewards card. However, it is a bit different from any other types of reward cards. In case of reward credit cards, your payments to the card issuer is refunded in kind. In case of other reward cards, the consumer will be rewarded through specific merchandise, points, miles, gift certificates, etc.

While choosing between a rebate credit card and a rewards credit card, here are few things which you should keep in mind:

The housing market as well as mortgage lending rules have gone through lot of changes in the recent times. Though certain traditional mortgage advice will still remain the same, buyers have to be savvy enough when they want to buy a property and take out a mortgage for the first time.

Here are 4 tips which might be of great help to first time buyers when they plan to buy a property: