The bigger and better extended Home Buyer Tax Credit cleared both the House and Senate vote this week, and now sits on President Obama’s desk expecting to be signed and approved today. As soon as pen hits paper, the law will go into effect and ensure that the original $8,000 tax credit is extended to April 30 plus qualified repeat buyers can take advantage of a new $6,500 credit. It could be a stabilizing force for the crippled housing market, or it could be a band-aid that won’t last long. Read ahead for more opinions and perspectives on what new measures Uncle Sam is taking to cool off the heat of recession.

Credit Karma News

• Money Matters: when ‘free’ isn’t free from Keloland Television.
• The Today Show mentions CK in their Wednesday morning segment!
• The New York Times puts in a good word about CK in, “A Free Credit Score Followed by a Monthly Bill.”

Home & Mortgage News

• 6 signs your home will increase in value straight from SmartMoney.
• DebtKid asks, if money = freedom, why buy a home?
• The New York Times reports on fraud watch for homeowners.
• Good news! Mortgage applications rose 8.2% last week reports MarketWatch.
• More good news! Mortgage rates fall below 5% reports The Oakland Tribune.
• WiseBread gives fun tips on how to make money from what you could find in your attic.
• Deadline for home tax credit extended writes The Money Times.
• Moolanomy throws in its two cents– Why the first time home buyer credit is terrible for the economy.
• The Baltimore Sun’s blog has a few points to make about the expanded home buyer tax credit.

Here’s a glance at current mortgage rates to keep you up-to-date. The table shows the overnight average interest rate for two of the most common mortgage loan types (keep in mind, refinance rates typically vary from purchase rates listed below). Happy house hunting!

Debt is the new four letter word to avoid. Everyone, from Uncle Sam to the average American, is taking action to get out of the red: Bloomberg reports that the U.S Treasury Department is selling a whopping $81 billion of long-term debt next week to steer away from the country’s legal debt limit of $12.1 trillion; and Philly.com reports that Americans have been buying less stuff on credit cards, which helped drop the total U.S credit card debt peak of $975 billion in Fall 2008 to below $900 billion this summer.

Your card balance may not be in the billions, but are you taking steps to take care of your credit and eliminate your debt? This week’s roundup is especially for you to start taking steps to get out of the red too.

Credit Card News

• Thinking about canceling your card? Before you do, read The Wall Street Journal’s article, “Credit cards: break up or make up?“.
• Is it possible to live without credit cards?, FiveCentNickel asks.
• If you are shopping for a credit card, do your homework first with The Boston Globe.
• Reduce Debt Faster shares 3 ways to lower credit card payments.
• Prepaid credit cards gaining favor reports The Salt Lake Tribune.
• Study finds prepaid cards less expensive than debit cards from banks blogs Almost Frugal.
• The BBC looks into what’s in store for the future of credit cards?
• Credit card debt elimination guide @ Clear Choice Credit Cards.
• The Digerati Life looks at how to opt out of interest rate increases.

Debt News

• Cash Money Life asks an important question: Do you know how much interest you are paying each month?
• A fun, alternative approach from Five Cent Nickel: Use weight loss strategies to get out of debt.
• Don’t wait until January to think about budgeting Being Frugal warns!
• Good debt vs bad debt: isn’t it all bad? Your Money Relationship answers the burning question.
• Gather Little By Little recommends using your emergency fund to pay off your debt.

Headlines are unanimous: when it comes to the recession, we are… confused. “Recession over? Sure doesn’t feel like it“, scoffs MSNBC, while The Wall Street Journal breathes a sigh of relief thanks to “A Recovery At Last.” Skepticism and optimism on both sides of the media circus are pulling the public back and forth.

But how does the average consumer– YOU –feel about the state of our economy? Does it feel like we’re finally steering clear of recession, or are the signs of recovery everyone has been talking about been passing you by? Throw in your two cents and comment back on what you think!

Personal Finance News

• CNN Money gives some tips on free cash for your business.
• Here’s a fun (and useful!) post from The Simple Dollar: 14 ways a notebook in your pocket can save you money.
• Find your financial style — and its pitfalls, writes The Wall Street Journal.
• Moolanomy offers advice on what to do with a financial windfall.
• Need help teaching your kids about personal finance? Check out The Chicago Tribune’s Financial games: it can pay to play.
• 11 ways to save money on groceries blogs My Dollar Plan.

Credit Reports & Credit Scores News

• The San Francisco Chronicle clears up confusion on credit scores.
• What is in a credit report? asks Business Finance.
• Let’s end confusion over free credit reports writes The Dallas News.
• Financial Money Investment helps you understand where credit scores come from.
• MSN Money finds out how your credit score will affect your auto insurance in the article, “Bad credit is worse than bad driving“.
• How to improve your credit score tips from KCCI 9 News Channel.

Will your credit score be a trick or treat for you this Halloween? Are rising mortgage rates spooking you out of the new home market and back into your apartment? Here are some good reads from the headlines and blogosphere because personal finance shouldn’t be such a scary experience.

Home & Mortgage News

• Surprise drop in new home sales CNN money reports.
• Money Under 30 sets it straight: Pre-qualification vs pre-approval: whats the difference?
• The New York Times follows homeowners walking away.
• Frugal Dad dives into Q&A on the new rules for mortgages.
• Do you know about the ‘double bubble’? MSNBC explains more on the current real estate trouble.
• How to buy a home you can afford blogs Free Money Finance.
• The Wall Street Journal asks, is an expanded home buyer tax credit a good deal?

Credit Karma News

• The Collier Citizen mentions CK in, “Tracking a Credit Score”.
• Lesson learned: Now you can get credit scores free! @ JournalStar.com.
• Thanks to San Francisco Chronicle for listing CK in Money-saving sites to check out, Part 2.

Here’s something fun to take your mind off the long work week: a little bit of Jaywalking on Money Matters on All Financial Matters. While you’re sharing a few laughs with co-workers, make sure you browse the rest of these links so you don’t end up like those Jaywalking victims. Enjoy!

Credit Cards

• The Chicage Tribune announces that those annoying gift card dormancy charges are now canceled.
• Credit cards are indeed an indulgence confesses Money Ning.
• Market Watch reports that Congress to take aim at overdraft fee limits.
• Check out Money Under 30’s two-part series, “Radically re-thinking credit cards“.
• You won’t believe what the latest bank fee is for: paying off credit card on time every month, USA Today reports.
• Mighty Bargain Hunter responds to the article above, and takes a different side — anti-credit card legislation hurts just about everyone.
• Credit cards to charge good behavior fees blogs Frugal Dad.

Debt

• Liz Weston answers a question on ways to pay off costly debt.
• Graduation present or pay off debt? wonders Clever Dude.
• CNN Money reports that unemployment in cities eases in September.
• Did you know that even good debt can be bad, blogs Moolanomy.
• Have good credit? The Digerati Life suggests best debt consolidation loans for you.
• Not my debt - what do I do? PT Money solves this dilemma.

Did you know that the U.S is about to hit its credit limit? Apparently we might be running into the government’s self-imposed $12.1 trillion dollar debt ceiling as soon as November if U.S Treasury sales keep up. Makes your current credit problems not too bad after all, huh? While Uncle Sam isn’t setting the best example right now, the following bloggers and journalists are the savvy people who can keep you on track with your financial know-how with this week’s best personal finance and credit blogs, articles, and advice.

Personal Finance News

• WiseBread shares 5 online tools to help you land a job.
• Best things to buy in the fall recommended by Generation X Finance.
• Wall Street Journal shows you how to barter for the services you need.
• 3 steps to financially preparing for disaster brought to you by Debtkid.
• Money Saving Mom blogs on stretching your dollars online with coupons and cashback.

Credit Report & Credit Score News

• Enough practice- make your credit score perfect! exclaims Doughroller.
• NewsChannel 5 reports on what to know about pre-employment credit checks.
• One simple way parents with good credit can help children build theirs from the Los Angeles Times.
• How to protect credit if canceling card, writes Press Democrat.
• Free From Broke highlights your credit score as another case for emergency savings.
• Reuters answers the question, what can consumers do to raise their credit scores?

TGIF and thank goodness mortgage loan rates are still at or below 5%! It’s another good house-hunting weekend, but headlines remind us to be weary of homebuyer hiccups in our uncertain home market. Plus, Credit Karma trends have been all over the blogosphere and news. Here’s today’s scoop:

Home & Mortgage

• MarketWatch reports on mountains of modifications.
• Refinancing: when is it worth it?, MSN Money asks.
• Kiplinger writes that there are more troubles for housing: mounting foreclosures.
• Saving to Invest blogs on 10 deadly mistakes buyers make when purchasing a home and how to avoid them.
• 7 red flags for home buyers and more advice from Kiplinger.
• Doughroller brings you a buyer’s guide to rent to own homes.
• The Associated Press delivers some good news: home sales rise 9.4 percent in Sept.

Credit Karma in the News

• Gmail users have higher credit scores than yahoo mail users blogs Mashable.
• MoneyWatch answers the questions, Why should you have to pay for your credit score?
• Finanacial start-ups form “coalition for new credit models” reports Reuters.
• WalletPop takes an interesting look at what your e-mail address says about your credit score.
• Financial start-ups form lobby group @ Finextra.com.

Its “hump day” again, when Wednesday feels like forever since Monday and forever till Friday. Two factors that shouldn’t be a hump in your personal finance is your credit card and your debt. While you’re trudging through with your 3rd cup of coffee, read on to find out how to make it through the rest of your work week with less debt and more credit.

Credit Card

• How to save and make money with credit cards reports Saving To Invest.
• Money Under 30 warns, “Beware credit card skimmers and how to spot them.”
• Consumerism Commentary reports on Bank of America adding annual fees to credit cards.
• Pay or Walk? Annual credit card fees test limits; read about it in the Associated Press.
• Check out Mainstreet’s scoop on gift cards getting a makeover.



• Washington Post asks, is frugality falling out of fashion? Read more on the returning hunger for retail therapy.

Debt

• Worried about debt? Tips on managing your loans from Wisebread.
• Los Angeles Times questions, how about a bailout for student debtors?
• More Americans fall behind on debts reports Reuters.
• Ever wonder what the average household credit card debt is? Bargaineering tells all.
• Cash Money Life blogs on DIY debt consolidation options.

If you’ve read your morning newspaper yet, you’ll see that the Dow’s still moving and shaking above the 10,000 mark. Now some are calling it good buzz for our economy, and others say its just a whole lot of steam. Wake up to your current financial situation in the midst of this economic turning point with some more financial food for thought.

Personal Finance

• Have you heard that bartering has become more popular amid recession? The Chicago Tribune reports.
• 10 surprising things you can turn into cash, suggests My Dollar Plan.
• MarketWatch wonders whether frugality is forever, and how that will affect our economy.
• Generation X Finance blogs on four fiscally-fit financial roadblocks.
• Learn how to save money on your household bills from Money Ning.
• Interested in how to get a loan to start a business? Kiplinger has some answers.
• Get some tips from Moolanomy’s, “Fall cleaning for you and your financials!“.
• Bible Money Matters blogs on what to do about out of control spending.

Credit Report & Credit Scores

• Underlining ‘free’ in ‘free credit report’; written by The Washington Post.
• Money Under 30 suggests eight steps to achieve credit nirvana.
• Getting a cell phone? Mind that other number: your credit score @ CreditCards.com.
• The Consumerist shares some legal uses of your credit report.
• Did you know that reduced limits could affect credit scores? The San Francisco Chronicle reports.

Thank goodness its Friday–and we have something new for you! Credit Karma kicks off our new three-part weekly roundup today with a mixed bag of news from the housing market front and some about CK. Look out every Monday, Wednesday, and Friday to see what other news, tips, and blogs we’re bringing fresh to you in our roundup of our online picks of the week. Happy Weekend!

Home & Mortgage News

• Hopes run high for tax-credit expansion MarketWatch reports.
• Dough Roller share 7 lessons learned from a failed attempt to refinance a mortgage.
• The Chicago Tribune writes that for mortgages, 620 is the new magic number.
• 7 tips to save on apartment living blogs The Consumerist.
• The Washington Post tells the latest on racing the clock to avoid foreclosures.
• Here are 9 ways you can knock the socks off your next landlord from Get Rich Slowly.

Credit Karma in the News

• Reuters suggests some things to consider before you refinance.
• The Boston Globe lists CK in the best ways to get your credit score.