Consumer Economics Program

The University of California Cooperative Extension Consumer Economics Program provides research-based financial management programs and materials in formats that are easy-to-understand and use. We offer bilingual (English/Spanish) programs for both teens and adults, such as our Money Talks for Teens and Making Every Dollar Count curriculums and websites. On this site you will find useful handouts, links to educational sites, program research, archived issues of our Today’s Consumer newsletter, and more.

We hope you enjoy browsing what we have to offer. Take some time to explore our site and be sure to let us know what you think by clicking on the "Contact Us" page.

Consumer News

Deadline Extended

People seeking a review of their mortgage foreclosures under the federal banking agencies' Independent Foreclosure Review now have until July 31, 2012, to submit their requests. If the review finds that financial injury occurred, the borrower may receive compensation or other remedy.

Borrowers are eligible for an Independent Foreclosure Review if they meet the following basic criteria:

The mortgage loan was serviced by one of the participating mortgage servicers.
The mortgage loan was active in the foreclosure process between January 1, 2009 and December 31, 2010.
The property securing the mortgage loan was the borrower's primary residence.

Participating mortgage servicers include: America's Servicing Company, Aurora Loan Services, BAC Home Loans Servicing, Bank of America, Beneficial, Chase, Citibank, CitiFinancial, CitiMortgage, Countrywide, EMC, Everbank/Everhome Mortgage Company, Financial Freedom, GMAC Mortgage, HFC, HSBC, IndyMac Mortgage Services, MetLife Bank, National City Mortgage, PNC Mortgage, Sovereign Bank, U.S. Bank, Wachovia Mortgage, Washington Mutual, Wells Fargo, and Wilshire Credit Corporation.

There are no costs associated with being included in the review. For more information, borrowers can call 888-952-9105, Monday through Friday, 8 a.m.–10 p.m. ET or Saturday, 8 a.m.–5 p.m. ET or visit www.federalreserve.gov/consumerinfo/independent-foreclosure-review.htm or www.occ.gov/independentforeclosurereview.

Monthly Tip

Are You Using Too Much Credit?

Everyone’s financial situation is different; but if many of these statements apply to you, you are using too much credit.

You are not sure how much you owe.
You are usually late in paying your bills.
You are working overtime just to make ends meet.
You are paying bills with money you need for necessities, such as food, clothing or shelter.
You can only make the minimum payments on your debts.
You have reached the limits on your charge accounts.
You are not saving any money and are dipping into savings to pay the bills.
You are charging groceries and other basic needs because you are short of cash.
You are putting some bills off until next month.
You are always “short of money” before payday.
You put off medical or dental visits because you cannot afford them now.
You have been threatened with repossession or other legal action.

Most people can easily handle short-term debts amounting to ten percent of their take home pay. Fifteen percent is still manageable but not quite so comfortable. But if 20% or more of your take home pay goes for credit payments, you are in a dangerous zone and need to take some measures to control the use of credit.

Calculate how much of your income is going towards monthly credit payments by using the Evaluating Your Credit Load handout. If you are in the danger zone, re-examine your expenses and make the necessary adjustments.