6at4 Business Report: TSA, foreclosures, students loans

February 8, 2012 1:11:35 PM PST
is another foreclosure binge on the horizon... and are student loans the next big debt issue heading our way?

Easy screening at Philadelphia International
Philadelphia International is on a list of airports where passenger check-in will soon get more convenient. The TSA is expanding a program that will give eligible passengers the option to give the government more detailed personal information. Once they've been checked out, that passenger would get a special boarding pass, and be allowed to skip the traditional security line. The program, which is be

2011: 830,000 foreclosures
We have the final tally: There were 830,000 foreclosures across the country last year according to Corelogic. That was a decrease of 1.1 million homes from 2010. That sounds like good news for the housing market, but expect foreclosures to increase this year because there was a backlog of unprocessed forecosures caused by investigation into how lenders handled the mortgage filings. Now that delay is over. In New Jersey, expect as many as 100,000 foreclosure properties will soon come on the market as banks resume processing foreclosures.

Student loan debt increasing
Student loans could be the next debt bomb. Almost half of consumer bankruptcy attorneys say the number of potential clients with student debt is significantly increasing. Finaid.org says students and their parents have racked up almost a $1 trillion in education loans and that has surpassed credit card debt for the first time since 2010. The attorney group says the borrowing represents a threat reminiscent of the mortgage crisis.

Travel plans
A new report by Travelocity.com shows that 53% of Americans plan to travel more in 2012 than they did last year despite a lack of confidence in the economy. Most plan to increase their travel budgets while 1/3 of Americans are trying to make the dollar stretch. Nearly 50% are making it work by increasing their comparison shopping, being more flexible when it comes to dates and booking further in advance.

Groundbreaking for NJ power plant
New Jersey state officials and LS Power Group announced today a new gas fired electric generator will be coming to West Deptford. The project will add clean and cost efficient power to the state and will create 650 construction jobs. Gloucester County stands to gain $4.7 million in revenue, which will be used to fund the county's economic development program.