Sometimes old debt that you thought was long ago dead and forgotten comes back to haunt you.

A scary practice performed by junk debt buyers and collection companies is the purchase of old and often outdated debts for pennies on the dollar and then come after you for payment.

These outdated debts are known as Zombie Debts which you may have to kill if they resurrect from the grave.

According to a new survey released by Freddie Mac announced the lowest 30 year mortgage rate at 4.57%. These mortgage rates are linked to the yields on Treasuries and also the yields on mortgage-backed securities.

In an article for Reuters written by Julie Haviv:

While low rates and high affordability have helped the housing market gain ground, it has struggled in recent months given stubbornly high unemployment and mounting foreclosures. Home loan refinancing, however, puts more cash into consumers’ hands to funnel into the U.S. economy and could help many homeowners avoid foreclosure.

The US deficit jumped $165,931,038,264.30 on one day last week (June 30), making it the 3rd largest daily increase to the deficit in US History. According to Stephen Dinan:

The figure works out to nearly $1,500 for every U.S. household, or more than 10 times the median daily household income.

According to Wikipedia, deficits are:

A budget deficit occurs when an entity spends more money than it takes in.

Everyone has suspected that the average credit scores have been falling. The economy has given a serious black eye to credit and credit scores and now we know how much!

FICO.com has just reported that 25.5% of the US population that use credit now have a credit score of 599 or less. That’s a whopping 43.4 million people in this category.  In the past about 15% or 25.5 million have been in this category which means that over the last 2 years there are been an increase of 17.9 million people fall under a 599 credit score which is a whopping 70% increase!

Overall 35% of the population are at a 649 credit score or less. What does this mean?  Basically, look at the person to the right and look to the left and the dirty truth is that one of the three of you cannot buy a house nor car and are considered unworthy of credit by many lenders and are in need of help with credit repair.

Even in the difficult-to-fire federal world, employees have been fired for being unable to pass security clearance.

A story for FederalNewsRadio.com written by Suzanne Kubota says that:

If you can’t pay your bills, you can’t keep your job.

That’s what it has come down to for 39 employees at the Defense Finance and Accounting Service. The employees have been terminated or indefinitely suspended after they were found “ineligible” to meet security requirements of the job.

Life can be down right miserable when you are traveling through a financial storm! Many people have done all the right things like paying their bills on time, living within their means, putting aside money for a rainy day and yet they still experience life.

I don’t know if a statistic exists for this next statement but I’d venture to say a high percentage of people at one point or another are thrown a curve ball in the game of life.  At least when it comes to their financial well being.  This set back occurs even though they did not plan on it, cause it, nor want it to happen.  Many of the stories of this hardship that I’ve heard simply come in different shapes and sizes but ultimately loss of job, a medical hardship, business failure, or divorce rank in the top few as the reasons people enter that financial storm.