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General Motors released its sales report for August and it showed some of the worst numbers since 1983. According to the recently-troubled auto manufacturer, sales toppled 25 percent from a year ago, partially due to the Cash for Clunkers program of last summer.

GM Struggles to Sell

Despite the fact that General Motors has fought back from bankruptcy to see a $1.3 million profit in the second quarter, it is still struggling to sell cars. According to the manufacturer, August sales dropped 7 percent from just a month prior as tracked by Edmunds.com and TrueCar.

There are a few reasons that car sales have struggled for the auto maker:

• Cash for Clunkers: The Cash for Clunkers program, which was very successful in moving cars with every dealer, left many with grim comparisons to make later.

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The rates aren’t stated in their promotional page, but the American Community Bank is giving away free iPod players for those who would open a checking account with them. This is in commemoration of their 10th anniversary. It’s probably the best checking account for you if you’re into Apple products and if there’s an American Community Bank where you live or work.

When you open any of the bank’s checking accounts with a deposit of at least $100, you get to have a GPX Home radio, complete with an iPod connection. Once you

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The Federal Reserve has proposed a new rule that may make it easier for prospective homeowners and those looking to refinance shop around before making a commitment.

The proposal, which was part of a 930-page document published mid-month in the Federal Register, would allow consumers to cancel mortgage applications within three days and get refunded for certain costs.

Things like application fees and appraisal fees would be refundable, while credit report fees would not.

Mortgage shoppers would be entitled to refunds if they canceled an application within three business days of receiving key disclosures, including the Good Faith Estimate and Truth in Lending Act statement.

The Fed believes such a rule would help consumers shop for the best deal, instead of being locked in with one mortgage lender for fear of losing any up-front costs.

But many lenders believe the rule will have little effect, as most already wait several days before charging any fees.

Others are concerned it could delay an already backed-up process, as there will be a waiting period before anything is acted upon or ordered.

Although, it’s not uncommon for a loan to be “on hold” until it makes it through underwriting and receives a formal decision.

It’s unclear how the rule would affect mortgage brokers, those who work on behalf of banks directly with consumers.

A recent Bankrate.com study found that mortgage closing costs rose more than 36 percent this year, with loan origination fees rising nearly 25 percent and third-party fees jumping almost 50 percent.

Identity theft. You’re hearing the words more and more, on TV and especially online. And there’s good reason. Identity theft is among the largest growing crimes in the world, and it costs consumers millions per year. Here are some facts about identity theft and how you can prevent it from happening to you.

Don’t miss out on all the info. Check out the fullsize graphic.

Identity Theft Statistics

Here are some eye-popping stats about ID theft.

• There were 10 million victims of identity theft in 2008 in the United States (Javelin Strategy and Research, 2009)
• 1 in every 10 U.S.

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While refinance activity is buzzing, home sales are plummeting.

A day after it was revealed that existing home sales fell to their lowest point since 1996, new homes sales fell to a record low.

Yep, last month the sale of newly built, single-family homes declined 12.4 percent to a seasonally adjusted annual rate of 276,000 units, per the Commerce Department.

That’s the lowest sales rate for new homes on record, and well below (-32.4%) the July 2009 estimate of 408,000 units.

Sales fell across every region last month, with a 25.4 percent decline seen in the West, a 13.9 percent drop in the Northeast, an 8.7 percent decline in the South, and an 8.3 percent fall in the Midwest.

The median sales price of a new home sold last month was $204,000, down from $217,000 in June and $214,200 a year earlier.

The average sales price was $235,300, down from $248,300 last month and $271,100 a year ago.

Meanwhile, the inventory of new homes for sale at the end of July was 210,000, which represents a 9.1 month supply at the current sales rate.

The number of units for sale has actually fallen year-over-year, but the slower sales pace effectively increased supply.

Remember, this doesn’t include the vast shadow inventory (foreclosed homes, mortgages in default), which is also growing steadily.

Nor does it include so-called sidelined sellers, who plan to list their homes at the sign of a housing recovery.

Getting out of debt can be a tricky proposition. There are a number of programs that purport to help work through your debt issues, but you need to be careful. While some can provide needed assistance, others are little more than scams. One of the distinctions you should make when deciding what debt plan to go with is that between debt management and debt settlement. It is important to note that your mortgage obligation is usually not included in these types of arrangements.

Debt Management

With debt management, you have a third party help you create a repayment plan for your debt. You pay down the principal at a reduce interest rate, and possibly with your fees waived.

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