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Entries posted by rebecca.tonn
Rebecca Tonn has been writing for the Colorado Springs Business Journal, covering banking, finance, small business, entrepreneurialism and other subjects, since October 2007. Rebecca has a Bachelor of Arts in English from the University of Colorado at Colorado Springs, and has lived in gorgeous Colorado since 1986. When she’s not calling financial advisers, entrepreneurs or bankers for quotes, she enjoys hiking Barr Trail and the Incline, mountain biking, yoga, reading, and hanging out with her children, family and friends.

Running rapidly in reverse

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Seniors are queuing up at banks and credit unions around the country to apply for reverse mortgages on their homes. There has been a “significant uptick” in applications, said Eric Bachman, founder and CEO of Golden Gateway Financial. “Our volumes are double.” The surge began several months ago. The FHA Modernization Act — which raised… Continue Reading Running rapidly in reverse

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Sometimes it helps to know that you are not in it alone — whether “you” is an individual or a nation. During last week’s Colorado Springs World Affairs Council luncheon at The Broadmoor, attendees heard firsthand that we’re not the only nation that’s in a recession. But the prevailing mood was anything but grim. Brent… Continue Reading Sir Alan reminds us that we’re all in this together

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Many homeowners have opted to make proverbial lemonade from lemons — taking advantage of recessionary low interest rates to refinance their homes. During the past two to three months, refinances have boomed — for a variety of reasons. Some homeowners have chosen cash-out refinancing to make home improvements, such as replacing windows, or to pay… Continue Reading Historically low interest rates offer opportunities — for some

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Gov. Ritter declares emergency

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Gov. Bill Ritter has issued a disaster declaration, activating the National Guard to assist with rescue operations and authorizing up to $200,000 in state funds for emergency assistance. A blizzard that began this morning is predicted to drop between one and two feet of snow in communities along the Front Range and in excess of… Continue Reading Gov. Ritter declares emergency

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Most people think an ATM transaction will be denied if the account has insufficient funds, but that’s not always the case. Many consumers are not aware the banks will often allow withdrawals when the money is not there – and customers later find that they’ve been hit with an overdraft or insufficient funds fee. It’s easy money… Continue Reading Consumers Union trying to change overdraft fee practices

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Ever hired a technical consultant, only to swear six months later that, surely, he or she had a “stand-in” during the interview? Perhaps the employee’s problem-solving skills were nonexistent, or his style of consulting clashed with others in the company or, perhaps, despite the title “technical consultant,” he couldn’t consult a manual — much less… Continue Reading Technical consulting really is, well, downright technical

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Businesses in Colorado Springs have a ready-made source for technical consultants. The University of Colorado at Colorado Springs offers a family of interdisciplinary degrees program — bachelor’s of innovation — which allows students to study business administration, computer science, computer science security, electrical engineering, or game design and development. Each option includes an emphasis major,… Continue Reading ­­­­­­Looking to hire a technical consultant?

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Equilibrium — when supply equals demand — or disequilibrium, the opposite, of course, can exist in either the capital markets or in the goods markets. Fred Crowley, senior instructor at the College of Business at the University of Colorado at Colorado Springs, was the keynote speaker at an Artemis luncheon on Monday at the Penrose… Continue Reading All things being equal, we’re in better shape than some

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Interest rates cannot go lower, and home prices are down these days. So, if you’re purchasing a home this year, be sure to claim the new $8,000, first-time homebuyer tax credit, which is part of the Recovery Act. Internal Revenue Service Commissioner Doug Shulman said there are several different ways for homebuyers to receive this… Continue Reading Recovery Act allows $8,000 first-time homebuyer tax credit

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Consumers and investors are anxious about the economy and the stock market, but loans are still being made and return on investment is still possible at Colorado banks, says the president of the Colorado Bankers Association. “Public perception is that there isn’t any credit available,” said CBA President Don Childears, “but banks chartered and headquartered in… Continue Reading Bankers Association president: don’t believe the hype, Colorado banks healthy

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