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    Another year-over-year decline in home foreclosures

    However, they were up a bit on a month-over-month basis

    There's continued progress on the foreclosure front.

    According to CoreLogic, a provider of property information and analytics, there were 46,000 completed foreclosures nationally during September, down from 68,000 a earlier -- a year-over-year decrease of 32.6% and down 61% from the peak in 2010.

    On a month-over-month basis, completed foreclosures in September were up by 4.7% from the 44,000 reported in the month before. As a basis of comparison, before the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006.

    “The number of completed foreclosures ticked up a bit in September from the prior month and is still running above historic norms,” said Anand Nallathambi, president and CEO of CoreLogic. “Although the foreclosure inventory and rates of seriously delinquent loans remain elevated in many states, progress is being made and this bodes well for a better housing market in 2015 and beyond.”

    Completed foreclosures are an indication of the total number of homes actually lost to foreclosure. Since the financial meltdown began in September 2008, there have been approximately 5.2 million completed foreclosures across the country; since home ownership rates peaked in the second quarter of 2004, there have been approximately 7 million homes lost to foreclosure.

    As of September 2014, approximately 607,000 homes nationally were in some stage of foreclosure, known as the foreclosure inventory, compared to 924,000 in September 2013, a year-over-year decrease of 34.3%.

    The foreclosure inventory as of September 2014 made up 1.6% of all homes with a mortgage, compared with 2.3% in September 2013. The foreclosure inventory was down 2.8% from August 2014, representing 35 consecutive months of year-over-year declines.

    “The level of serious delinquencies has rapidly declined over the last few years, but the pace of improvement is beginning to recede,” said Sam Khater, deputy chief economist at CoreLogic. “As of June, serious delinquencies were 26% lower than the prior year, but as of September serious delinquencies were 21% lower.”

    Report highlights

    • September represents 20 consecutive months of at least 20% year-over-year declines in the national inventory of foreclosed homes.
    • All states posted double-digit declines in foreclosures year over year. The District of Columbia experienced a 7.1% increase.
    • Twenty-nine states showed declines in year-over-year foreclosure inventory of greater than 30%, with Arizona (-47.6%) and Utah (-47.1%) experiencing the largest declines.
    • The five states with the highest number of completed foreclosures for the 12 months ending in September 2014 were: Florida (120,000), Texas (36,000), California (31,000), Michigan (29,000) and Georgia (27,000). These 5 states accounted for almost half of all completed foreclosures nationally.
    • Four states and the District of Columbia experienced the lowest number of completed foreclosures for the 12 months ending in September 2014: South Dakota (63), District of Columbia (68), North Dakota (286), West Virginia (458) and Wyoming (628).
    • The 5 states with the highest foreclosure inventory as a percentage of all mortgaged homes were: New Jersey (5.7%), Florida (4.4%), New York (4.1%), Hawaii (2.9%) and Maine (2.7%).
    • The 5 states with the lowest foreclosure inventory as a percentage of all mortgaged homes were: Nebraska (0.4%), Alaska (0.4%), Arizona (0.5%), North Dakota (0.5%) and Wyoming (0.5%).

    There's continued progress on the foreclosure front. According to CoreLogic, a provider of property information and analytics, there were 46,000 completed...

    Cane Creek recalls bicycle shock absorbers

    The shock contains incorrect adjustment directions for High Speed Rebound damping

    Cane Creek Cycling Components of Fletcher, N.C., is recalling about 5,500 shock absorbers in the U.S. and Canada.

    The shock absorber is marked with graphics that incorrectly identify the adjustment directions for High Speed Rebound (HSR) damping. Following these directions will cause unexpected behavior by a bike’s suspension and pose a fall hazard to a rider.

    The company has received four complaints from customers, one of which involved a report of injury with bruises in the midsection.

    This recall involves Cane Creek Cycling Components DBINLINE bicycle rear shock absorbers marked with graphics that incorrectly identify the adjustment directions for High Speed Rebound (HSR) damping.

    The shocks come in black anodized aluminum with the words “INLINE” marked on the air can portion of the shock and are attached to a full-suspension mountain bike frame. Recalled products have a serial number on the underside of the top valve body in the following ranges: AA00002 – AA07304 and SA00077 – SA03926.

    The shocks were sold separately and with the following mountain bikes:

    • 2015 Alutech - Tofane
    • 2015 Banshee - Phantom and Spitfire
    • 2015 Bianchi - Methanol 29
    • 2015 Canyon - Spectral 140 – 27.5 and 29; and Strive CF
    • 2015 Ghost - AMR Riot 130
    • 2015 Guerilla - Gravity Megatrail
    • 2015 Ibis - Ripley 29
    • 2015 Intense - Tracer, Carbine 29 and Spyder 29 Comp
    • 2015 Knolly - Warden
    • 2015 Nicolai - Helius
    • 2015 Norco - Sight Carbon 7.1
    • 2015 Nukeproof - Mega TR
    • 2015 Orange - Five and Five 29
    • 2015 Specialized - Enduro 650B and 29

    The shocks, manufactured in the U.S., were sold at distributors and retailers globally from May 2014, through September 2014, for about $495 each or included in the price of the bike.

    Consumers should immediately stop using the product and contact Cane Creek for a repair decal kit to correct the HSR adjustment markings on affected product.

    Consumers may contact Cane Creek at (844) 490-3663 from 9 a.m. to 5 p.m. ET Monday through Friday.

    Cane Creek Cycling Components of Fletcher, N.C., is recalling about 5,500 shock absorbers in the U.S. and Canada. The shock absorber is marked with graph...

    Takata air bag recall becoming a witches' brew for White House

    A miasma of lawsuits, Congressional rumblings and political fallout

    The recall of millions of cars with potentially defective airbags is conjuring up a witches' brew of class action lawsuits, Congressional incantations and rumblings of White House plans to clean house at the federal car safety agency.

    Class actions have been filed in Los Angeles and Miami, accusing Japanese airbag manufacturer Takata and numerous automakers of concealing potentially fatal defects in airbag deflators. The suits charge that the airbags can explode violently, showering occupants with shrapnel. At least one death has already been blamed on the devices, which are in at least 6 million cars.

    BMW, Chrysler, Ford, Honda, Mazda, Nissan and Toyota are recalling cars equipped with the devices but, in most cases, the recalls are regional in nature. That's based on the oft-challenged claim that weather conditions can influence the likelihood that the devices will malfunction, and on the claim that all of the known incidents -- so far totalling 6 -- occurred in Florida and Puerto Rico. 

    The regional recalls are clustered in Florida, Puerto Rico, limited areas near the Gulf of Mexico in Texas, Alabama, Mississippi, Georgia, and Louisiana, as well as Guam, Saipan, American Samoa, Virgin Islands and Hawaii.

    Regional recalls are usually concentrated in cold-weather states, where salt is used on icy roads in the winter. But there's such a thing as too much nice weather too, apparently.

    Cauldron bubbles

    The National Highway Traffic Safety Administration (NHTSA) is already taking a lot of flak over other long-simmering problems and, with a crucial midterm election just days away, a Congressional witch hunt looks increasingly likely. 

    The White House is said to be looking at potential replacements for David Friedman, who has been the acting NHTSA chief since his predecessor decamped for a D.C. lobbying firm.

    Friedman recently issued an unusual statement urging consumers to heed the recalls and have their cars fixed as soon as possible. 

    "Responding to these recalls, whether old or new, is essential to personal safety and it will help aid our ongoing investigation into Takata airbags and what appears to be a problem related to extended exposure to consistently high humidity and temperatures,” said Friedman. “However, we’re leaving no stone unturned in our aggressive pursuit to track down the full geographic scope of this issue."

    But one stone the agency apparently overlooked was making sure its website was up to the task of helping consumers find out whether their car was among those recalled. NHTSA recently introduced a page that is supposed to let consumers type in their vehicle identification number (VIN) and find out if there are any open recalls.

    Taking its cue, perhaps, from the early Obamacare site, NHTSA's VIN look-up page has been largely down for the count, forcing car owners to look elsewhere. Individual automakers have their own VIN look-up pages as does auto history site Carfax, whose page has been up and running each time we've checked it.   

    White House haunted by fall-out

    None of this is good news for Friedman.

    Rep. Fred Upton (R-Mich.) heads the House Energy and Commerce Committee, which oversees NHTSA, an agency that he says needs to hold itself to a higher standard, something its critics have been saying for years.

    "This can begin with the naming of a new NHTSA chief -- a critically important safety post that remains vacant to this day," Upton said in a statement.

    Over the weekend, it was reported that the Obama Administration -- vexed at yet another crisis -- was beginning to vet possible candidates to succeed Friedman. But naming anyone to anything becomes more difficult each day as time runs down for Obama. 

    That's not to say action isn't needed. Even by Washington standards, NHTSA has had an embarrassing series of perceived slip-ups in recent years, including the odd non-recall of allegedly fire-prone Jeeps and the botched oversight of faulty ignition switches in GM cars.

    The recall of millions of cars with potentially defective airbags is conjuring up a witches' brew of class action lawsuits, Congressional incantations and ...

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      Signs still point to early Black Friday

      More retailers announcing their plans early

      As Black Friday ads leak onto the Internet, some retailers are getting a jump on the leakers – and the competition – by making early announcements of their Black Friday plans.

      One of the latest to do so is Bon-Ton, a regional department store chain with 270 stores in 27 states. The company has announced it will open its stores at 6:00 p.m. on Thanksgiving, dangling 600 door busters, special coupons and deals to draw in customers.

      For example, the first 200 customers in line when the doors open Thanksgiving night will receive gift cards, with values ranging from $5 to $250. Those who download the Bon-Ton app will receive special Black Friday deals.

      The company will begin previewing all of its After Thanksgiving Sale and door buster items on its Website beginning November 16.

      "After Thanksgiving is the traditional kick-off for the holiday shopping season," said Steve Byers, a Bon-Ton vice president. "Customers will find exceptional deals and unique gifts for the entire family at Bon-Ton.”

      In a sneak peak at its Black Friday specials, Bon-Ton said it will sell its entire stock of Keurig and Cuisinart coffee makers and accessories at 40% to 60% off. Its entire stock of Mattel and Fischer Price toys and games, including Disney Frozen toys and décor, will be marked down 50%.

      Best Buy

      Best Buy has already started pre-Black Friday promotions, with a 4 Day Kick Off sale running through Monday, Nov. 3. Without getting into specifics, the retailer says it's Black Friday deals and door busters will include select laptops, HDTVs, Blu-ray players, appliances, digital cameras and video games.

      Xbox One

      Some Black Friday preview websites have posted a scan of a Black Friday Kmart ad for the Xbox One without Kinect console on sale for $349.99, beginning November 9, 2014.

      If it turns out to be legitimate, that would be about a $50 discount and might be matched by other retailers – something to keep in mind if the popular game console is on your list.

      Toys R Us

      BlackFriday.com, a website that publishes leaked ads, has posted what it says is the Toys R Us Great Big Christmas Book, an 80-page catalog with discounts on toys. But you'll have to wait until November 2 to find how deep the discounts are. That's when actual prices will be posted, the site says.

      As they did last year retailers are slowly marking down items in advance of Black Friday, hoping to snag more of the early shoppers. And shopping early usually pays off.

      A 2012 survey by Shop Advisor famously found that the two best days to holiday shop – where deals were greatest – came before and after Black Friday. It found the best day was November 13. Second best was December 1.

      For shoppers who want to save money, it would be wise to stay alert for deals now. Retailers are offering plenty of them.

      As Black Friday ads leak onto the Internet, some retailers are getting a jump on the leakers – and the competition – by making early announcements of their...

      FCC may begin process of unbundling cable

      Why can't Aereo and other streamers be treated like cable systems?.

      You say you never watch Azteca America? How about truTV? We're not sure exactly what these are but they're among the more than 80 channels included in Comcast's "Digital Starter" bundle, meaning you get them -- and pay for them -- whether you want them or not.

      Cable has sold programming this way nearly since its inception -- putting together packages, or bundles, of often-unrelated content. Want football? You'll also get bowling. It's sort of the way cars are sold. Want a backup camera? Hah! You'll need to pay for a navigation package too. Oh, and heated mirrors.

      Let's be fair. Not everybody hates this system -- only consumers. Program producers love it because they get paid whether you watch their stuff or not. And cable systems like it because it's a way to jack up your cable bill far beyond what it would be if you could order a la carte.

      But it's becoming pretty obvious that it's not going to stay this way much longer. The established TV-Cable Monopoly has about as much chance of holding back the tide as the taxi industry has of stopping Uber in its tracks.

      Especially now that Federal Communications Commission Chairman Tom Wheeler has apparently seen the writing on the wall.

      "Consumers have long complained about how their cable service forces them to buy channels they never watch.  The move of video onto the Internet can do something about that frustration – but first Internet video services need access to the programs," Wheeler said in his blog yesterday. "Today the FCC takes the first step to open access to cable programs as well as local television.  The result should be to give consumers more alternatives from which to choose so they can buy the programs they want." 

      Wheeler says he is asking the commission to include Internet-only TV services -- presumably like the recently-banished Aereo -- to be treated as though they were cable systems.

      Future Aereos

      This would mean that future Aereos could carry network and local TV signals, just as the cable systems do. They would presumably have to pay but having the rights to the signals would make Internet-based video distribution a much more viable business. 

      No one was too much concerned about this back when Aereo was trying to get off the ground but with HBO and CBS saying they will soon offer streaming video service for customers who don't have cable, joining Netflix, Amazon, et al, regulators and politicians are starting to take the idea more seriously.

      Wheeler says he is asking the commission to start a rulemaking procedure that will modify the FCC's definition of a "multichannel video programming distributor,” or MVPD. That's the technical term for cable TV systems like Comcast.

      "A key component of rules that spur competition is assuring the FCC’s rules are technology-neutral.  That’s why the definition of an MVPD should turn on the services that a provider offers, not on how those services reach viewers.  Twenty-first century consumers shouldn’t be shackled to rules that only recognize 20th century technology," Wheeler said.

      Wheeler said that besides providing more competition in programming and pricing, expanding the number of streaming video suppliers will encourage the deployment of more and faster broadband.

      "Those seeking to deploy new competitive broadband networks tell us that it’s hard to provide new high-speed Internet access without also being able to offer a competitive video package as well.  An updated definition of MVPD would permit a new broadband competitor to offer customers the ability to reach a variety of OTT video packages without necessarily having to enter the video business itself," he said.

      So hang onto that cable channel guide for now, but don't bother having it embossed.

      You say you never watch Azteca America? How about truTV? We're not sure exactly what these are but they're among the more than 80 channels included in Comc...

      Study finds different online consumers get different prices

      Algorithms produce search results based on users' profiles and past activity

      What you pay for an online purchase may be different – higher or lower – than what someone else pays, according to researchersat Northeastern University.

      The reason, they say, is the complex set of algorithms that produce search results based on users' profiles and past activity. That means one consumer searching for a product may be quoted a price that's different from the one a second consumer receives.

      While the consumer believes she is simply looking for the best price on a laptop computer, for example, her online profile is being used by the e-commerce site to determine exactly what her price should be.

      It would be like walking into a jewelry store where you frequently shop and asking the price of a ring. The sales clerk, before telling you the price, consults a file about you that includes your income, the neighborhood where you live and what products you've purchased in the past. Then the clerk gives you a price, which may not be the same as the price the next customer receives.

      The research team, made up of computer science and information technology professors, studied 16 popular e-commerce sites. Ten of the sites were general retailers and 6 were hotel and car rental sites.

      Price discrimination and steering

      The objective was to measure two specific forms of personalization; price discrimination, in which a product's price is customized to the user; and price steering, in which the order of search results is customized to the user.

      The practice of customizing prices does not appear to be uncommon.

      "Overall, we find numerous instances of price steering and discrimination on a variety of top e-commerce sites," the authors wrote.

      For example, the study found evidence of price customization on 4 of the general retailers and 5 of the travel sites. The price disparity, the researchers say, was often hundreds of dollars.

      It was most common on travel sites, which isn't surprising since hotel rates and airline fares tend to fluctuate anyway. But travel prices generally vary, depending on supply and demand, not who is making the purchase.

      Right about now you're probably wondering what websites were part of the study. The researchers did say which sites were not included. Popular sites like Amazon and eBay were excluded because they serve as online marketplaces. Apple, and companies like it, were left out because they only sell their own products.

      Members get lower prices

      The researchers say Cheaptickets and Orbitz used price discrimination by serving up reduced prices on hotels to "members." They say Expedia and Hotels.com steered a subset of users toward more expensive hotels.

      Home Depot and Travelocity personalized search results if the user was using a mobile device.

      Priceline personalized search results based on a user's history of clicks and purchases, but the researchers determined this wasn't price steering.

      In fact, the study didn't turn up evidence of widespread price steering, but the authors say where they found it, the price swings were significant.

      Not judging

      While all of this might sound unfair to consumers, Christo Wilson, one of the researchers, says neither he nor his colleagues are making a judgment about whether the practice is good or bad.

      They stress that price discrimination – especially when part of a membership or loyalty program -- isn't necessarily a sinister plot to take advantage of consumers.

      The issue, they say, is transparency. Discounts for members and preferred customers are an accepted practice in marketing. But the Northeastern researchers said this system is much harder to detect on e-commerce sites.

      "I get this question from people all the time: 'How do I get the best price?' The truth is I don't have a good answer," Wilson said. "It changes depending on the site, and the algorithms they use change regularly.”

      So good advice today might not be good advice tomorrow. Wilson says that when you buy online, you're at a disadvantage unless it's transparent.

      Your safest policy is to do lots of price comparisons and not settle for the first price in the search string.

      What you pay for an online purchase may be different – higher or lower – than what someone else pays, according to researchers at Northeastern University....

      The frugal American: modern version vs. circa-1844 model

      Money-saving tips from history don't always work today

      “Use it up, wear it out, make it do or do without.”

      My childhood and adolescence overlapped the sunset years of most people who'd grown up during the Great Depression and fought in World War Two, which might be how I first came across that saying. Or maybe not — the phrase is still in fairly common use today, enough that if you're the type who likes either reading about history or learning new thrifty-living tricks (and I enjoy both), you're bound to come across it sooner or later.

      Some of that attitude is also found in the modern emphasis on “re-use, recycle, conserve resources:” for every person who cites climate change, pollution or other environmental concerns to explain, for example, why they're trying to reduce their electricity use, there's someone else whose primary motivation is to save money by reducing their high electric bills.

      And, of course, all throughout history there have been careless or wasteful people, offset by those advising caution, economy and thrift. “Waste not, want not,” as Ben Franklin said.

      Problem is, not all of the thriftiness advice from history still works today, so ideas that were perfectly sensible and helpful before the Industrial Revolution (and even during the Depression and other hard times afterwards) can be downright counterproductive in 21st-century America.

      Make it do

      “Use it up, wear it out, make it do.” That doesn't always work with electronics. A few years ago my old DVD player broke, and getting it repaired would've cost $57 for shipping and labor costs, plus I'd've gone up to six weeks before getting the player back. Meanwhile, a new DVD player of the exact same make and model cost only $60. So I threw away what could've been a perfectly useful DVD player, capable of providing entertainment for years to come after a rather minor repair — which simply wasn't worth making.

      And the further back in time you go, the more now-useless advice you encounter. Last weekend I read The American Frugal Housewife by Lydia Maria Child, a 19th-century writer whose best-known work today is probably “The New England Boy's Song About Thanksgiving Day,” a poem whose first lines are “Over the river and through the wood, to grandfather's house we go....”

      But in pre-Civil War days, The American Frugal Housewife was Child's best-known work, a book almost every American bride received as a wedding present. My copy is a modern print reproduction of the 29th edition, copyrighted in 1844; Project Gutenberg offers free downloads of the 12th edition, from 1832.

      Some of Child's advice still holds true today (some things never change): in modern times, despite a generally poor economy, low rates of personal savings and high rates of personal debt, the ideas of being frugal, thrifty and careful with money nonetheless have unsavory connotations somehow, especially among those who can't see the distinction between a frugal person and a stingy miser — “the general implication is that you can be frugal, or you can have a reasonably comfortable life (plus friends), but it's an either-or option.”

      Sounds like the same held true when Child published her book of frugal household hints over 170 years ago:

      Economy is generally despised as a low virtue, tending to make people ungenerous and selfish. This is true of avarice; but it is not so of economy. The man who is economical, is laying up for himself the permanent power of being useful and generous. He who thoughtlessly gives away ten dollars, when he owes a hundred more than he can pay, deserves no praise,—he obeys a sudden impulse, more like instinct than reason: it would be real charity to check this feeling; because the good he does may be doubtful, while the injury he does his family and creditors is certain. True economy is a careful treasurer in the service of benevolence; and where they are united respectability, prosperity and peace will follow.

      Sprinkle salt

      While the value of economy (or thrift) is just as high today as it was in Child's time, the actual everyday details of thrifty, economical living have changed considerably. Being frugal today is vastly easier: for starters, thanks to modern food packaging and your refrigerator/freezer, you probably don't share Child's concerns here:

      It is necessary to be very careful of fresh meat in the summer season. The moment it is brought into the house, it should be carefully covered from the flies, and put in the coldest place in the cellar. ... If you are not to cook it soon, it is well to sprinkle salt on it.

      And in order to meet modern respectability standards, you genuinely need to ignore other bits of advice she offers. For example: when you need vinegar, where do you get it? Not that you're likely to think much about it, ordinarily, but: all the vinegar in my American household came from various grocery stores. We've got relatively small quart bottles of “specialty” vinegars, which have words like “balsamic” or “malt” on their labels, but for plain everyday use we take the cheaper option of buying white store-brand vinegar by the gallon.

      Here's what Lydia Child has to say about it:

      It is poor economy to buy vinegar by the gallon. Buy a barrel, or half a barrel, of really strong vinegar, when you begin house-keeping. As you use it, fill the barrel with old cider, sour beer, or wine-settlings, &c., left in pitchers, decanters or tumblers; weak tea is likewise said to be good: nothing is hurtful, which has a tolerable portion of spirit, or acidity. Care must be taken not to add these things in too large quantities, or too often: if the vinegar once goes weak, it is difficult to restore it ….

      Much poorer

      Serious advice: even if you like the idea of making your own craft vinegar at home (and Child does offer a recipe involving molasses and sour beer), don't keep a slop barrel full of souring beverage leftovers in your kitchen. Not in 2014 or beyond.

      But Child lived and wrote at a time when the world and everybody in it was much, much poorer than today — and also before anybody really understood the germ theory of disease.

      A gallon of plain white vinegar today can be had for well under three dollars. So even if you only make the federal minimum wage of $7.25 per hour, you can “earn” a gallon of clean, strong vinegar in less than half an hour. You also have enough basic knowledge of bacteria and other germs to understand “A barrel of souring food in my kitchen wouldn't just stink; if I'm not careful it'll become a bacterial breeding ground and an actual health hazard.”

      But store-bought vinegar (along with everything else) was expensive in Child's day, far more expensive that a mere half-hour's work, and nobody knew about germs either. Saving old cider, sour beer and wine dregs genuinely was a better alternative than buying expensive vinegar, for many people.

      And for all the very real problems modern Americans face from high medical or health-insurance costs, at least we don't have to rely on helpful home remedies from the 1840s:

      EAR-WAX.—Nothing is better than ear-wax to prevent the painful effects resulting from a wound by a nail, skewer &c. It should be put on as soon as possible. Those who are troubled with cracked lips have found this remedy successful where others have failed. It is one of those sorts of cures, which are very likely to be laughed at; but I know of its having produced very beneficial results.

      Modern version: Do not save your earwax, or anything else that comes out of your body (except children, of course). If you suffer a minor puncture wound, the Mayo Clinic recommends that you stop the bleeding, clean the wound, apply a thin layer of antibiotic ointment or cream (a modern medical marvel which of course did not exist in the 19th century), cover the wound with a clean bandage, and contact your doctor if you see redness, swelling or other signs of infection.

      As for chapped lips, the Mayo Clinic recommends that you apply a lubricating lip balm with sunscreen (another product that didn't exist in Child's day), stay hydrated, keep your lips out of the wind and avoid licking them.

      "Rage for travelling"

      In today's America, antibiotic ointment and lip balm can both be bought for less than an hour's minimum wage (with a little money left over). Of course, everybody knows this already, which is why if Lydia Maria Child were alive and writing frugal-living tips now, she'd briefly advise you to keep a supply of cotton balls, rubbing alcohol, antibiotic cream and other basic first-aid items on hand to treat minor wounds, before writing a chapter about avoiding credit card and rent-to-own debt and another one reminding people not to spend money on vacations and other frivolities until their debt is paid off, an updated version of her advice from 1844:

      There is one kind of extravagance rapidly increasing in this country, which, in its effects on our purses and our habits, is one of the worst kinds of extravagance; I mean the rage for travelling, and for public amusements. … Look at our steamboats, and stages, and taverns! There you will find mechanics, who have left debts … while they go take a peep at the great canal, or the opera-dancers. There you will find domestics all agog for their wages-worth of travelling; why should they look out for 'a rainy day?' …. People of moderate fortune have just as good a right to travel as the wealthy; but is it not unwise? Do they not injure themselves and their families? You say travelling is cheap. So is staying at home.

      Modern translation: “Instead of a vacation, this year try a stay-cation!”

      What would Lydia Maria Child's “American Frugal Housewife” think of modern thrift and spending habits?...

      FTC reaches settlement with online dating network

      Must stop luring customers with fake profiles, among other things

      A dating site based in England has agreed to stop using computer-generated fake profiles to fool members into paying for membership upgrades. In a settlement with the Federal Trade Commission, JDI Dating also agreed to stop billing people's credit cards for subscription fees without their consent.

      Of course, any dating site is bound to have some fraudulent profiles on it somewhere, thanks to dishonest people who sign on hoping to ensnare a victim into a dating scam.

      That's why, even if you're registered with a reputable dating site, you must always be wary of potential scammers (and never agree to send money to anyone you meet online, no matter how compelling a sob story they have to tell).

      But that's not what happened with JDI (which operates a variety of dating or hookup sites under different names, including CupidsWand, FlirtCrowd and FindMeLove). Apparently, registering with and building a profile at a JDI-owned site is free — but seeing or responding to any messages you get from other members requires a paid membership. According to the FTC:

      As soon as a new user set up a free profile, he or she began to receive messages that appeared to be from other members living nearby, expressing romantic interest or a desire to meet. However, users were unable to respond to these messages without upgrading to a paid membership. … The messages were almost always from fake, computer-generated profiles – “Virtual Cupids” – created by the defendants, with photos and information designed to closely mimic the profiles of real people. A small “v” encircled by a “C” on the profile page was the only indication that the profiles were fake. Users were not likely to see – much less understand – this icon. The fake profiles and messages caused many users to upgrade to paid subscriptions.

      JustHookUp

      An Oct. 29 online search for JDI Dating and “Virtual cupids” brought up the terms-and-conditions page of a JDI-owned site called JustHookUp.com, which promises to help members “Hook up with local sex partners” (sex partners is italicized, underlined and set off by quotation marks in the original).

      The total “terms and conditions” document is 9,343 words long, and after you, the potential new member, read through the first 1,308 words you'll find the first mention of Virtual Cupids: “We reserve the right to create Accounts for quality control, administrative purposes and the use of our Virtual Cupid program as described below. Such accounts may be publicly viewable.”

      Then, if you stay conscious long enough to read through the next 1,419 words' worth of eye-glazing prose, you'll finally find this:

      VIRTUAL CUPIDS: THIS SITE UTILIZES VIRTUAL PROFILES THAT DO NOT CORRESPOND TO OTHER MEMBERS: JDI Dating Ltd encourages Account development and promotes user, Member and/or Subscriber communications through our Virtual Cupid (VC) services. By accepting these Terms, all users, Members and/or Subscribers fully understand, accept and agree to the deployment of this service, and acknowledge that some of the profiles and Members displayed to them, and related communications sent to Members from VC's, are not associated with any other user of the site, but included in an effort to promote broader user, Member and/or Subscriber activity and fuller participation in all the Services. The VC services may include the posting of information, pictures and communication directed to the user, Member and/or Subscriber's Account. Such messages may take the form of any communication currently permitted on the Website ….

      In other words, JDI did/does bury deep within its “Terms and Conditions” the admission that, in order to encourage [paid] Member and/or Subscriber activity, it will set up fake profiles that do everything a real profile can do – except lead to a romantic (or even a purely sexual) connection with another human being, which presumably is what potential members signed up for in the first place.

      But this fine-print loophole wasn't enough for JDI to wriggle out of its settlement with the FTC. The company has to pay $616,165 in redress; its various websites are still in operation but henceforth, according to the FTC press release: “The settlement order prohibits the defendants from misrepresenting material facts about any product or service and, from failing to disclose clearly to potential members that they will receive communications from virtual profiles who are not real people.”

      JDI also has to stop billing members without their consent, make subscriptons as easy to cancel as they are to start, and actually honor any subscription cancellations they get.

      A dating site based in England has agreed to stop using computer-generated fake profiles to fool members into paying for membership upgrades. In a settleme...

      Shuddle could make a parent's life easier

      It's sort of Uber for kids -- an app that moves kids on demand

      Part of being a parent is shuttling your kids back and forth from school to basketball practice, maybe dance lessons and then back home, throwing something quick together for dinner. It's crazy enough with one kid but add another one or two and your life is instant insanity. Throw homework in there and all of a sudden life has gotten away from you and a glass of wine starts to sound really good.

      There is help and it's new and I almost cringe saying it but it's an app. It's similar to Lift or Uber and it's called Shuddle.

      The website says they are more than just a car or a driver: "We are a group of moms, dads and technologists who have developed a way for you to get some of that time back. As technologists, we believe in creating a smart, safe and transparent service that adds convenience to everyday lives."

      No matter how you say it, it's still like a chauffeur service. Here is how it works.

      Schedule a time
      You need to do it a day in advance and you can pre-plan up to a week in advance.

      Be ready.
      No sleeping in and forgetting your lunch money or basketball T shirt. In fact your kid has to be ready 5 minutes ahead of schedule. Don't worry, the headquarters will send you a text to remind you.

      Get in.
      Pretty self explanatory. Driver confirms your family’s Shuddle Pass, (A secret word chosen by your family that the driver will say to confirm his or her identity.) Your kid then climbs into the backseat.

      Meet and greet.
      Driver says hi and small talks -- no personal information is shared.

      In car entertainment.
      If your child would like something special on the radio the driver will play it. Otherwise, headphones are on your kids' ears and they are bopping to their own tunes or texting their BFFS.

      Are we there yet?
      Your loved one has arrived and a message is sent to you to confirm that they have landed safely. You are able to track the ride in real time thanks to GPS.

      Parents or caregivers are the only ones who can book a ride. Your child will need to have a cellphone in order to hop on board. Children must have aged out of their booster seat. 

      Shuddle says it has plenty of insurance.

      "Shuddle is the only rideshare service insured to transport kids. Our coverage is dependent on regular, in-depth inspections of our safety procedures by the insurance agency. And that’s in addition to our standard coverage of up to one million dollars for vehicles, drivers and passengers," the site says.

      Drivers undergo a criminal background and DMV check. 

      What's it cost?

      There is a $9 membership fee billed monthly. The fee covers the insurance and the driver screening. The first month is free and you can cancel at any time.
      Fares are based on mileage and time. An estimate is given at the time you order.

      Payments are made with a credit card through the app so no cash is exchanged between your child and the driver and you don't have to worry about all of a sudden your son can't find the money or loses the change.

      Right now it's only available in San Francisco and nearby areas including the East Bay and the Peninsula. See shuddle.us for more info.

      Part of being a parent is shuttling your kids back and forth from school to basketball practice, maybe dance lessons and then back home, throwing something...

      Mortgage Applications post first drop in 4 weeks

      Interest rate sensitivity was a major factor

      Mortgage applications ended their string of increases at 3 during the week of October 24.

      Data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey show applications were down 6.6% from the week before.

      “Borrowers with jumbo loans tend to be most sensitive to changes in rates, and that sensitivity has been clearly apparent in the past few weeks with double and even triple-digit percentage changes in refinance application volume for jumbo loans,” said Mike Fratantoni, MBA’s Chief Economist. “The average loan size for refinance applications decreased to $263,600 in the most recent week from a survey high of $306,400 the previous week. The decrease was driven by a 41% drop in refinance applications for loans greater than $729,000, which had surged almost 130 percent the week before.”

      Refinance applications plunged 7% from the previous week, holding the refinance share of mortgage activity steady at 65% of total applications from the previous week.

      The adjustable-rate mortgage (ARM) share of activity decreased to 8.2% of total applications.

      The FHA share of total applications rose to 8.9% this week, while the VA share of total applications jumped from from 9.6% to 10.7% and the USDA share inched up to 0.9% from 0.8%.

      Contract interest rates

      • The average contract interest rate for 30-year fixed-rate mortgages (FRMs) with conforming loan balances ($417,000 or less) rose 3 basis points -- from 4.10% to to 4.13%, with points unchanged at 0.21 (including the origination fee) for 80% loan-to-value ratio (LTV) loans. The effective rate increased from last week.
      • The average contract interest rate for 30-year FRMs with jumbo loan balances (greater than $417,000) jumped to 4.13% from% percent, with points falling to 0.13 from 0.20 (including the origination fee) for 80% LTV loans. The effective rate increased from last week.
      • The average contract interest rate for 30-year FRMs backed by the FHA rose 3 basis points to 3.84%, with points up to 0.16 from 0.07 (including the origination fee) for 80% LTV loans. The effective rate increased from last week.
      • The average contract interest rate for 15-year FRMs was unchanged at 3.28%, with points increasing to 0.24 from 0.22 (including the origination fee) for 80% LTV loans. The effective rate was the same as last week.
      • The average contract interest rate for 5/1 ARMs remained at 2.94%, with points increasing to 0.43 from 0.37 (including the origination fee) for 80% LTV loans. The effective rate increased from last week.

      The survey covers over 75% of all U.S. retail residential mortgage applications.

      Mortgage applications ended their string of increases at 3 during the week of October 24. Data from the Mortgage Bankers Association’s (MBA) Weekly Mort...

      Ram 2500, 3500, 4500, and 5500 trucks recalled

      The electrical connectors of the diesel fuel heater may overheat

      Chrysler Group is recalling 314,704 model year 2010-2014 Ram 2500, 3500, 4500, and 5500 trucks manufactured March 27, 2009, to September 5, 2013.

      The electrical connectors of the diesel fuel heater in the affected vehicles may overheat causing the fuel heater to leak, increasing the risk of a fire.

      Chrysler will notify owners, and dealers will replace the harness side connector with a silver plated beryllium copper terminal service kit, and inspect the fuel heater for leaks, replacing it as necessary, free of charge. The recall is expected to begin December 5, 2014.

      Owners may contact Chrysler customer service at 1-800-853-1403. Chrysler's number for this recall is P65.

      Chrysler Group is recalling 314,704 model year 2010-2014 Ram 2500, 3500, 4500, and 5500 trucks manufactured March 27, 2009, to September 5, 2013. The ele...

      Two recalls issued for Dodge Durangos and Jeep Grand Cherokees

      The problems involve air bags, steering and stability

      Chrysler Group has issued two separate recalls for Dodge Durangos and Jeep Grand Cherokees.

      In the first,126,772 model year 2014 Durangos manufactured June 2, 2013, to June 28, 2014, and 2014 Grand Cherokees manufactured October 30, 2012, to April 30, 2014, are being recalled.

      Due to a fault within the Occupant Restraint Control (OCR) module, the frontal air bags, seat belt pretensioners, and side air bags may be disabled. The malfunction indicator light “MIL” should illuminate to initially warn drivers of a failure.

      If these elements are disabled, there is an increased risk of injury to the vehicle occupants in the event of a crash that necessitates use of the passive restraint system.

      Chrysler will notify owners, and dealers will replace the ORC module, free of charge. The recall is expected to begin on December 8, 2014.

      Owners may contact Chrysler customer service at 1-800-853-1403. Chrysler's number for this recall is P67.

      The second recall is for 132,223 model year 2014 Dodge Durango, and Jeep Grand Cherokee vehicles manufactured October 3, 2013, to April 11, 2014.

      Due to an issue with the software for the Steering Column Control Module (SCCM), the Electronic Stability Control (ESC) may be disabled. If the ESC is disabled during certain driving situations, the driver may not be able to control the vehicle adequately, increasing the risk of a crash.

      Chrysler will notify owners, and dealers will update the SCCM software, free of charge. The recall is expected to begin on December 5, 2014.

      Owners may contact Chrysler customer service at 1-800-853-1403. Chrysler's number for this recall is P64.

      Chrysler Group has issued two separate recalls for Dodge Durangos and Jeep Grand Cherokees. In the first,126,772 model year 2014 Durangos manufactured Jun...

      Feds sue AT&T for throttling customers with "unlimited" data plans

      "Unlimited means unlimited," Federal Trade Commission argues

      What if you went to an "all-you-can-eat" buffet and were told that you had to eat very slowly, using only one hand and pausing for 10 seconds between each bite?

      Chances are, you'd think you'd been cheated. And that's just how many consumers feel when their wireless carrier offers them "unlimited" data service, then slows down -- or "throttles" -- their service if they start gobbling up too much of that data.

      The Federal Trade Commission also takes a dim view of throttling. It filed a federal court complaint against AT&T Mobility, LLC, today charging that the company has misled millions of its smartphone customers by charging them for “unlimited” data plans while reducing their data speeds, in some cases by nearly 90%.

      “AT&T promised its customers ‘unlimited’ data, and in many instances, it has failed to deliver on that promise,” said FTC Chairwoman Edith Ramirez. “The issue here is simple: ‘unlimited’ means unlimited.”

      Consumers, like Avinash of Latrobe, Pa., say even customers who seldom use much of their "unlimited" data can still find themselves being throttled.

      "I have been with ATT for 5 years now, having unlimited data plan. I had been using max of 0.4 GB every month. This month while travelling I used up 3 GB (for looking up restaurants and using Google maps). My data speed was reduced," Avinash said in a complaint to ConsumerAffairs, including a screen grab of his chat with an AT&T rep:

      Clark, of Santa Clara, Calif., said in June that he had a similar experience with his "unlimited" plan. 

      "AT&T sent me a warning that I have now reached 3 gig use on my 'unlimited' data plan and if I continue to abuse my use of data, my slow data speed will be throttled back further," something he had hoped to avoid by signing up for the "unlimited" option years ago.

      "I can't imagine myself as a heavy user, up until 6 months ago I hardly used any data at all and only recently began using a Netflix service to watch video at the local greasy spoon when having breakfast, something AT&T advertises a customer should do when enjoying their service," he said. "On contacting AT&T customer service I was told this was their new policy, too bad, pound salt and I was refused any further resolution."

      Clark said he must have "missed AT&T's semi-secret announcement of their unilateral decision to impose new terms and conditions on my cell phone agreement."

      Inadequate disclosure

      The FTC’s complaint alleges that the company didn't adequately disclose to its customers on unlimited data plans that, if they reach a certain amount of data use in a given billing cycle, AT&T reduces – or “throttles” – their data speeds to the point that many common mobile phone applications – like web browsing, GPS navigation and watching streaming video – become difficult or nearly impossible to use.

      According to the FTC’s complaint, AT&T’s marketing materials emphasized the “unlimited” amount of data that would be available to consumers who signed up for its unlimited plans. The complaint alleges that, even as unlimited plan consumers renewed their contracts, the company still failed to inform them of the throttling program.

      When customers canceled their contracts after being throttled, AT&T charged those customers early termination fees, which typically amount to hundreds of dollars.

      The FTC alleges that AT&T began throttling data speeds in 2011 for its unlimited data plan customers after they used as little as 2 gigabytes of data in a billing period. According to the complaint, the throttling program has been severe, often resulting in speed reductions of 80 to 90% for affected users.

      Thus far, according to the FTC, AT&T has throttled at least 3.5 million unique customers a total of more than 25 million times.

      Verizon and other carriers have also faced questions about their data management practices. 

      Consumers object

      According to the FTC’s complaint, consumers in AT&T focus groups strongly objected to the idea of a throttling program and felt “unlimited should mean unlimited.” AT&T documents also showed that the company received thousands of complaints about the slow data speeds under the throttling program.

      Some consumers quoted the definition of the word “unlimited,” while others called AT&T’s throttling program a “bait and switch.” Many consumers also complained about the effect the throttling program had on their ability to use GPS navigation, watch streaming videos, listen to streaming music and browse the web.

      The complaint charges that AT&T violated the FTC Act by changing the terms of customers’ unlimited data plans while those customers were still under contract, and by failing to adequately disclose the nature of the throttling program to consumers who renewed their unlimited data plans.

      What if you went to an all-you-can-eat buffet and were told that you had to eat very slowly, using only one hand and pausing for 10 seconds between each bi...

      Consumer Reports: auto infotainment systems are often neither informative nor entertaining

      In-car electronics generate more complaints than anything else among new-car owners

      Confusing and malfunctioning controllers, balky Bluetooth and unresponsive touch screens are driving drivers around the bend and hurting the ratings of Infiniti, Jeep, Fiat, Ram, Cadillac, Ford, and Honda in this year's Consumer Reports reliability survey.

      But while in-car electronics top the list of irritants, they're likely to be a sign of other problems.

      “Infotainment system problems generally don’t exist in a vacuum,” said Jake Fisher, director of automotive testing at Consumer Reports, “A close look at the results suggests that cars with a lot of in-car electronic issues usually have plenty of other troubles, too.”

      Lexus again took top spot in the magazine's annual reliability survey, which was released at a press conference yesterday before the Automotive Press Association in Detroit.

      Consumer Reports Annual Auto Reliability Survey polls CR’s subscribers, who indicate any serious problems in 17 trouble areas that they have had with the cars they own in the proceeding 12 months.

      Consumer Reports gathers enough data on 248 models to predict which new cars will likely be reliable or troublesome, as well as provide insights and standings of major brands and spot trends. The survey is the largest of its kind; the 2014 edition generated information from about 1.1 million vehicles.

      Infinitely worse

      The worst first-year infotainment offender in this year’s survey was the Intouch system in the new Infiniti Q50 sedan. More than one in five owners reported a problem with it. That, when combined with the poor reliability performance of the QX60 SUV, was enough to drop Infiniti’s reliability rank 14 points to 20th overall — the farthest drop of any of the 28 brands this year.

      The survey did show signs some carmakers are finding ways to alleviate infotainment problems. While hardly trouble-free, updates and changes to Ford and Lincoln’s notorious MyTouch systems have made them less troublesome year after year. When introduced, the 2011 Ford Explorer had a 10% infotainment complaint rate and peaked at 28%. The 2014 Explorer’s revised system has a 3% complaint rate for the same trouble areas.

      Honda seems to have fixed a glitch with its HondaLink that contributed to Consumer Reports not recommending the redesigned Accord V6 last year; the vehicle is now recommended. Chrysler Corp’s UConnect touch-screen system was buggy in its first iteration but recent software revisions may be ironing out the wrinkles.

      Perennial best-in-reliability front-runners Toyota, Mazda and Honda, finished right behind top-rated Lexus in Consumer Reports’ overall brand rankings in that order. Subaru, Scion and Kia helped Asian brands take seven of the top 10 spots. With the exception of Infiniti, most Japanese and Korean brands improved their reliability average score. Nissan continues to lag behind other Japanese brands with core models like the Altima, Pathfinder, and Sentra all scoring below average reliability.

      Buick was the only domestic brand to finish in the top 10, and moved into 6th place from 16th last year. All six of its models included in CR’s annual survey scored average or better reliability including the CR Recommended Buick LaCrosse (V6).

      Confusing and malfunctioning controllers, balky Bluetooth and unresponsive touch screens are driving drivers around the bend and hurting the ratings of Inf...

      Data suggests danger of new housing bubble has passed

      Home values have grown at a slower rate every month since April

      For a while housing experts were worried that the U.S. was in the midst of another housing bubble. After home prices finally hit bottom following the credit crisis, they took off like a rocket. Today, they look more like a glider.

      A report by real estate site Zillow.com shows appreciation in home values has slowed after 2 years of robust year-over-year growth. The rate of home value appreciation peaked in April at 8.1% and has fallen every month since.

      Zillow estimates U.S. home values were up 6.5% year-over-year at the end of the third quarter, to $176,500. Zillow forecasts home values will grow at only 3% through most of next year.

      Rapid turnaround

      "What a difference a year makes,” said Zillow Chief Economist Dr. Stan Humphries. “At this time last year, we were worrying about a number of frothy markets that looked like they could be on the edge of another housing bubble, places where homes were appreciating at more than 20% per year and where buyers' heads were spinning just trying to keep up."

      Humphries says the housing slowdown is not really bad news. The last thing the market needs, he says, is to get over-heated again. A 3% growth rate is more normal and indicates the right balance between buyers and sellers.

      "Home values should continue to grow, but that growth will increasingly be driven by traditional market fundamentals like household formation and job growth, and less by artificial stimulants like decreased supply and widespread investor demand," he said.

      Disappearing investors

      In fact, fewer investors are in the housing market these days, perhaps because there are fewer foreclosures and distressed properties. For a couple of years investors made up about a third of the monthly home sales.

      RealtyTrac, a foreclosure marketing company, reports the number of U.S. homes under water – with owners owing more in mortgage than the home is worth – totaled 8.1 million units in the third quarter. That's about 15% of all homes that have a mortgage.

      While that sounds like a significant number, RealtyTrac says it's the lowest level since it began tracking negative equity in the first quarter of 2012. It's also a sizable drop from the second quarter.

      Drawing a conclusion

      What does that say about the housing market? It may suggest that stability is slowly returning. But unless more first time buyers step up to replace the investors who have moved to the sidelines, the market could soften considerably in the months ahead.

      That means if you are selling your home you had better be prepared for a longer listing period. Homes will likely take longer to sell.

      If you have been thinking about buying a home, the momentum will probably swing your way. There may be more inventory to choose from and prices may soften. At the same time, mortgage rates remain near historic lows.

      If that's not enough to bring in the buyers, the Federal Housing Finance Agency (FHFA) has advanced rules that would make it easier for consumers to buy homes with smaller down payments, or in some cases no down payment at all.

      Sound familiar? Critics say its a road we've been down before.

      For a while housing experts were worried that the U.S. was in the midst of another housing bubble. After home prices finally hit bottom following the credi...

      Bats: they want to drive you batty

      Don't like bugs? Meet your new best bat friends forever

      This might drive you batty, but thats really the goal. Monday kicked off National Bat Week led by the Organization for Bat Conservation, with close collaboration from Bat Conservation International and the U.S. Forest Service.

      If you don't like bugs then bats are your new BFFS (you know, bat friends forever).

      While you are resting in the comfort of your nice warm cozy bed, bats are out there chomping down on insects by the dozens. They pollinate flowers and spread seeds that grow new plants and trees. Do mosquitoes irritate you? Bats have your back or your arms and legs. They love them as well as moths, beetles, crickets and many other little flying pests.

      They save us a ton of money on pest control by eating all these insects and many of these insects can be fatal to livestock as well as our forests.

      Full of it

      Bats are full of it. They have poop that is as good as gold to farmers. You might think about this for your garden at home. Besides devouring insects and pollinating plants, bat poop -- or "guano" -- is actually a fertilizer that is in demand. It is so strong that people who collect it have to wear gas masks and protective clothing. Farmers benefit greatly as guano is the best fertilizer.

      Hollywood would have us think that vampires suck the life out of you, but it's really the opposite. Vampire bats contain a blood thinning chemical that can help stroke victims and others that need it.

      There is a population decline with bats because of a rather new disease. It started in the U.S. where it was found in 2006 and has spread to Canada . It's called White-Nose Syndrome and it has killed more than 6 million bats in just the last 6 years. The condition is named for a distinctive fungal growth that is found around the muzzles and on the wings of hibernating bats. The fungus has been found in caves and mines throughout the Northeastern U.S. and as far south as Mississippi and west to Missouri and into five Canadian provinces.

      “You don’t need extraordinary powers or a lot of money to help protect bats there are many actions both great and small that can help conserve bats and the places where they live," said Brandon Hartleben, a Forest Service wildlife biologist for the Eastern Region. 

      Celebrating all things bat related this week is a great way to educate yourself and your family about these night flying superheroes. The USDA has a list of events that you can partake in on their blog.

      This might drive you batty, but thats really the goal. Monday kicked off National Bat Week led by the Organization for Bat Conservation, with close collabo...

      Wisconsin charges Everest College used deception to attract students

      It's the latest in a series of problems for Everest parent Corinthian

      Wisconsin is the latest to sue for-profit Corinthian Colleges, Inc., charging that it used misleading and deceptive trade practices to attract students to its Everest College in Milwaukee.

      “Our office will prosecute post-secondary schools that use deceptive recruiting tactics to increase enrollments, leaving vulnerable, unemployed graduates with excessive federal student loan debt, underwritten by the taxpayer,” said Wisconsin Attorney General J.B. Van Hollen.

      Van Hollen said Corinthian made false representations about critical facts such as the school’s job placement rates for its graduates and the availability of externships the school offered.

      The Consumer Financial Protection Bureau (CFPB) sued Corinthian last month for what it called an illegal predatory lending scheme.

      The CFPB alleges that Corinthian lured tens of thousands of students to take out private loans to cover expensive tuition costs by advertising bogus job prospects and career services. Corinthian then used illegal debt collection tactics to strong-arm students into paying back those loans while still in school, the agency said.

      The Wisconsin complaint alleges that Corinthian fraudulently inflated its graduation rates by including in its placement numbers unemployed graduates and graduates employed outside of their field of study. It also charges that Corinthian’s recruiters represented to prospective students a 80-90% national job placement, when in fact its job placement rates were far lower, dipping as low as 5% at the Milwaukee campus.

      The complaint also alleges that Corinthian recruited new students regardless of their qualifications, including many who were unlikely to complete or benefit from Corinthian’s accelerated allied health programs. For example, Corinthian’s admission representatives enrolled students who struggled with basic reading comprehension into accelerated allied health programs, which required quick mastery of complex medical terms, Van Hollen's suit charges.

      The school allegedly also enrolled students in health career programs, even though such students would be virtually unemployable due to their criminal backgrounds.

      The complaint also alleges that Corinthian’s recruitment tactics created a false sense of urgency to pressure prospective students to enroll immediately. Corinthian sent mailings to prospective students stating they had “priority status” and that it was “Urgent” that they “call in the next seven days.”

      There was no urgency or priority. In fact, any prospective student who walked in the door at Everest College Milwaukee would be eligible for enrollment within the next month, provided they had a high school diploma or a General Education Diploma (GED), the state charges, saying that Corinthian’s misrepresentations induced many Milwaukee-area students to spend (or most commonly borrow) up to $20,000 for a course of study.

      The Milwaukee school closed its doors in August of 2013 and the school provided some refunds to students who did not graduate. The complaint seeks restitution to affected students and graduates, as well as forfeitures and fees.

      Wisconsin is the latest to sue for-profit Corinthian Colleges, Inc., charging that it used misleading and deceptive trade practices to attract students to ...

      The rate of increase in home prices continues to slow

      Still, home prices are up for an eighth consecutive month

      The deceleration in home price gains continued in August.

      According to the S&P/Case-Shiller Home Price Indices,the 10-City Composite gained 5.5% year-over-year and the 20-City 5.6%, compared with the July advance of 6.7% . The National Index gained 5.1% annually in August, versus a rise of 5.6% in July.

      On a monthly basis, the National Index and Composite Indices showed a slight increase of 0.2% during August. Detroit led the cities with the gain of 0.8%, followed by Dallas, Denver and Las Vegas at 0.5%. Gains in those cities were offset by a decline of 0.4% in San Francisco followed by declines of 0.1% in Charlotte and San Diego.

      A lagging Sun Belt

      “The deceleration in home prices continues,” said David M. Blitzer, chairman of the Index Committee at S&P Dow Jones Indices. “The Sun Belt region reported its worst annual returns since 2012, led by weakness in all three California cities -- Los Angeles, San Francisco and San Diego. Despite the weaker year-over-year numbers, home prices are still showing an overall increase, as the National Index increased for its eighth consecutive month.

      The large extent of slower increases is seen in the annual figures with all 20 cities, the two composites and the national index all revealing lower numbers than last month. The 10- and 20-City Composites gained 5.5% and 5.6% annually with prices nationally rising at a slower pace of 5.1%.

      Las Vegas continued to see a sharp deceleration in annual home prices with a 10.1% annual return, down just below three% from the previous month. Miami is now leading the cities with a 10.5% year-over-year return. San Francisco, which has shown double-digit annual gains since November 2012, posted an annual return of 9.0% in August.

      “Despite softer price data, other housing data perked up. September figures for housing starts, permits and sales of existing homes were all up. New home sales and builders’ confidence were weaker. Continued labor market gains, low interest rates and slower increases in home prices should support further improvements in housing.

      Cleveland the exception

      All cities except Cleveland saw their annual gains decelerate. Las Vegas showed the most weakness in its year-over-year return; it went from 12.8% in July to 10.1% in August. As a result, Las Vegas lost its leadership position as it moved to second place behind Miami with a 10.5% year-over-year gain. San Francisco posted 9.0% in August,compared with a double-digit return of 10.5% in July.

      All cities except Boston and Detroit posted lower monthly returns in August compared their returns reported for July. San Francisco showed its largest decline since February 2012; it was the only city that showed a negative monthly return two months in a row from -0.3% in July to -0.4% in August.

      The deceleration in home price gains continued in August. According to the S&P/Case-Shiller Home Price Indices,the 10-City Composite gained 5.5% year-ove...