. >>> your bottom line with jerri willis starts right now. >> hello. i'm jerri willis. this is "your bottom line" the show that saves you money. the two faces of america's housing market. we'll take a look at the communities hit hardest by the foreclosure epidemic as well as those rated among the best places to live. >>> also, a new study says african-americans and hispanics are significantly less prepared for retirement than their white and asian counterparts. we'll get to the bottom of why that is and what can be done about it. and the minimum wage goes up this week. that means more money in the pockets of millions of americans. "your bottom line" starts right now. >>> we begin with the mid year u.s. foreclosure market report out just this week from realty track. foreclosure filings are up in the first half of 2009 from the previous six months to a total of 1.9 million. now, to break that number down for you, that's roughly one in every 84 american homes, and that translates into a 9% increase in foreclosure filings and about a 15% increase from the beginning of 2008.

i'm jerri willis and this is "your bottom line" the show that saves you money. nickelled and dimed. we'll snow you how to protect yourself from bank fees. then the best time to buy, a month-to-month guide on how to score the best deals. and travel for less? we all need a break sometimes. summer getaways that fit your budget. "your bottom line" starts right now. >>> we begin with one red hot topic, health care reform, push and push back in washington. no matter what happens you're going to feel it. in a recent cnn opinion research poll, americans ranked health care as the most important noneconomic issue facing this country followed by the deficit and the ongoing wars in iraq and afghanistan. in a primetime address wednesday night, president obama stated his case for health care reform saying it's crucial in the effort to rebuild our economy from what he called a full blown crisis. >> this is not just about the 47 million americans who don't have any health insurance at all. reform is about every american who has ever feared that they may lose their coverage if they become too sick o

jerry willis talks about the best way to get a loan. >> mortgage rates slipped to 5.41%. banks are still picky about who they are lending to. make sure you have a sizable down payment. you can't waltz in with 5% or 10% down. most banks want 20%. your fica score is what they will look at to extend a loan. you may not qualify unless you have a score of 720. do everything to keep your credit score high. of course, you have to document your income. long gone are the other loans. >> you have to have your ducks in a row to qualify. say you do or think you do, what's the best way to find a len dor. >> start with your local bank. you have a relationship there, already. don't stop comparing lenders. whatever you do, get a few different quotes and go with the bank you feel comfortable with. >> you will be dealing with them for years to come. >> what's coming up on "your bottom line"? >> a look at the housing markets, the communities hit hardest by foreclosure and those rated among the best to live. it's coming up at 9:30 eastern on cnn. >> looking forward to it. thank you, gerri. >

let's bring in our personal finance editor jerry willis. gerri, my goodness, talk about a gash burn. break down the numbers for us. >> let's talk about the numbers here. the white house said they're going to extend the program through the weekend. the michigan senator tells cnn that the michigan, ohio and indiana delegations are working on a extension. the program is close to burning through its funding. here is the map. take a look at these numbers. already $146 million has been approved to be given out. that's according to the government. but if you talk to the industry, they are projecting $1.2 billion is projected to be given out. so they've gone through that $1 billion and more. as you know, the original allocation, $1 billion. so demand for this program, tony, is overwhelming. 23,000 dealerships have signed on. experts say the dealerships had started declining people for the program earlier this week. the program was supposed to officially end on november 1st, but it's hard to if you don't have the money to do it. >> absolutely. so th

willis has details that you need to thththththththththth. sfloo prices stumbled to $2.55 a gallon. it's getting close to the bottom, too. so if your car is on empty jerry, good monday to you. finally, finally are we getting some clarity from the dips on this program? >> it's not the dealerships. it's really, really complicated. they had to register every dealer in the country. technically the program started back on july 1st and many auto dealers were reluctant to fill the requirements. on friday, final rules were details how they can get their cars into the program. the car allowance rebate system or cars for short, get cars and clunkers out of your brain. it's from july 1st or until the money runs out. anybody may still be eligible for a rebate as long as you meet those requirements. tony? >> remind us about the program's qualifying rules. >> it has to get 18 cents per gallon or less and eninsured under your name for at least a year. the credit will be anywhere from 3500 bucks to 4500 and that's based on how many more gallons your new car gets. and you could get more since the program involves the scrapping of your vehicle the dealer gets the first 5