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Monday, June 24, 2013

Poor Math Skills Raise Your Risk for Foreclosure

really, people who aren't good with math, and therefore also not good with budgeting, may be more likely to not pay bills or have a higher risk of forclosure? Say it isn't so.

Apparently "Borrowers who got into trouble weren't simply the victims of tricky or unfair loans. It could have been that they also didn't have the math skills to manage their personal finances."


Member Comments About This Blog Post:
JLEMUS1 6/25/2013 9:21AM

    I think it's like anything else, you have to blame something. Although I do believe a finance course offered in high school wouldn't hurt.

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CAROLJEAN64 6/25/2013 7:53AM

    The part of this article that resonated with me (full disclosure--- retired teacher) is that kids aren't learning financial literacy. I think that is so true. When our DD bought her first house, just at the beginning of the cheap mortgage boom, she said, "They're willing to loan me a lot more money than they should."
I wonder about the financial literacy of the people loaning the money.

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NANCYPAT1 6/25/2013 12:29AM

    I am always amazed at how much wisdom comes from studies like this - another study that caught my eye was a study that discovered that people in chronic PAIN are likely to get depressed - really? DUH!!!

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WALLAHALLA 6/25/2013 12:20AM

    I see it all the time.

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DJ4HEALTH 6/24/2013 9:44PM

    Sometimes they make you wonder how they even got that job or even the house to boot!! We end up paying for them too.

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