Financial Woes Have Fallen to Lowest Level in 4 Years, Report Says

June 11, 2013
Los Angeles Times 
mortgage lending news

A report released June 11 by Consumer Reports shows a more than 50 percent decrease since 2009 in the number of consumers reporting financial troubles to the lowest level in four years. Although middle-class Americans reported slightly worse money troubles in May, there were big declines in financial woes among households earning less than $50,000 and those earning more than $100,000. According to Ed Farrell of the Consumer Reports National Research Center, "The data offer a glimpse that consumers may be starting to see and feel the progress of the economic recovery." The index tracks such things as home foreclosures, job losses, and ability to afford medication.
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