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WASHINGTON STATE MAN SENTENCED TO 25 YEARS FOR ORCHESTRATING FORECLOSURE-RESCUE SCHEMEThursday, July 14, 2011 @ 8:42PMLOS ANGELES – July 14 2011 - A Tacoma, Washington man was sentenced today to 25 years in federal prison for running a scheme that defrauded owners of distressed Southern California homes by promising to prevent foreclosure through the paying off of their mortgages, but in reality doing no more than sending their lenders fake notes, totaling $55 million, that were supposedly backed by Treasury ...

JPMorgan profit rises, loan book growsThursday, July 14, 2011 @ 6:14PMNEW YORK (Reuters) - JPMorgan Chase & Co posted a higher-than-expected second-quarter profit as it wrote off fewer bad mortgages and credit card loans.

GOP leaders split on debt ceilingThursday, July 14, 2011 @ 6:11PMWe have a representative democracy. When did our elected officials stop representing me? The entire debt-ceiling debate is a good example [“Ingrained with politics, down to basics on debt ceiling,” News, July 14]. The people, business, the lobbyists all want the debt ceiling raised.

UPDATE 7-JPMorgan profit rises, loan book growsThursday, July 14, 2011 @ 4:11PM* Q2 EPS $1.27 vs Wall Street view $1.21 * Profit lifted by lower costs for bad loans * CEO Dimon: Time still needed to cure mortgage problems * Shares up 1.8 percent at close (Adds sale of 30-year bond, ...

McEntee: Note to Congress — go back to the tableWednesday, July 13, 2011 @ 8:28PMMcEntee: Note to Congress — go back to the table By peg mcentee Tribune Columnist Published Jul 13, 2011 05:55PM MDT There are times when you just want to shake Congress by the lapels and say, “Grow up.” The United States is facing a default on its debts unless President Barack Obama and his Democratic backers can persuade mostly Republican members of Congress to raise the debt limit, as has ...

Guest opinion: 90-day law will help homeownersWednesday, July 13, 2011 @ 5:38PMGov. Rick Snyder has signed Senate Bill 398 into law, extending Michigan’s 90-day, pre-foreclosure negotiation law for six months.

Housing Market Improving Despite ForeclosuresWednesday, July 13, 2011 @ 4:38PMHome sales and housing starts began turning up in early 2009, according to the State of the Nation s Housing report from the Joint Center for Housing Studies of Harvard University. First-time buyers and government help drove an increase in existing home sales, while record foreclosures continued.

Republican National Committee's ad says there are 2 million fewer jobs since Obama took office: PolitiFact OhioWednesday, July 13, 2011 @ 10:37AMThe RNC commercial includes a half-dozen figures to underscore its argument that President Obama's policies are killing the economy.

Money $marts: The home seller squeezeWednesday, July 13, 2011 @ 9:22AMBuyer profligacy, banker minimal credit standards and government home ownership promotional policies combined to create the housing bubble that burst two years ago, devastating the economy. The housing sector wreckage remains a huge drag on the recovery with little that can be done to turn it around.