Introducing a segment on Thursday's NBC Today about parents saving for college, co-host Matt Lauer and the show's financial editor Jean Chatzky spent a scant twenty-four seconds on President Obama's recently announced proposal to hike taxes on college savings accounts. Lauer noted: "Talk to me a little bit about what President Obama was referring to when he gave the State of the Union address and he talked about proposing changes to 529 accounts."
Jean Chatzky
By Anthony Kang | April 20, 2010 | 2:45 PM EDT
Surprise: NBC finally found a business it likes - even a business decision it likes: companies that help homeowners who decide to walk away from their mortgages.
"New figures show foreclosures in the U.S. are up about 35-percent from a year ago," Matt Lauer kicked off an April 20 segment of "Today" that encouraged homeowners - even those financially comfortable - to simply walk away. "And a growing reason why are people who simply choose to walk away from their mortgage even when they can afford it."
"Experian, the credit-monitoring service, says 588,000 borrowers - or 18-percent of those who have defaulted on their mortgages in the past year - did it for strategic reasons and not because they're broke," NBC's George Lewis reported. "It's called a strategic default, walking away from a home and enduring foreclosure out of frustration with a bad investment."
On the scene with the Schreur family in Folsom, California, Mr. Schreur acknowledged in an interview that although his family was not in any financial distress, a sharp decline in house value incited the family to default, as any other option "made no sense."