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Michael Barone: Government can't spend us out of economic doldrums Sunday, July 17, 2011 @ 1:16AMTwo years ago, in June 2009, the American economy emerged from recession, according to the National Bureau of Economic Research.
JPMorgan liquidating mortgage portfolio Saturday, July 16, 2011 @ 12:10AMJPMorgan Chase is winding down its $154 billion mortgage portfolio to "close to zero" as the bank works through mortgage losses and litigation over loan-servicing and foreclosure practices.
Foreclosure Protesters in Spain's Cities Now Go Door to Door Friday, July 15, 2011 @ 11:55PMMADRID -- When the police arrived recently to evict María José del Coto Maeso, 53, they found the street in front of her ground-floor apartment crowded with protesters, and they retreated.
Nearly 30 foreclosed homes off market, have new owners Friday, July 15, 2011 @ 5:35PMNearly 30 foreclosed homes are off the market thanks to the city's participation in a federal program, a Los Banos official said.
Illegal Cash-Back Deals Worsened The Housing Bubble, Drove Up Foreclosures: Report Friday, July 15, 2011 @ 8:44AMIt’s a tactic that’s been in use for years : Sell a house to someone at an inflated price, but offer the buyer an incentive to take it -- like a few thousand dollars in cash back.
Buffett May Not Net OneMain Friday, July 15, 2011 @ 8:41AMWarren Buffett can't always get what he wants. I was never really sure why he wanted a piece of OneM
Emergency loan program to help 45 pay mortgages Tuesday, July 12, 2011 @ 12:14AMUnemployed homeowners could get $50,000 in help for foreclosed homes
It's neighbor vs. neighbor Monday, July 11, 2011 @ 11:29PMThe Inlet House condo complex in Fort Pierce, Fla., was once the kind of place the 55-and-older set aspired to. It was affordable.
Latest Business News Monday, July 11, 2011 @ 11:21PMN.M. Bank Regulator Named Cynthia Richards of Albuquerque has been named the new director of the Fin ...
Economic woes threaten — but also bolster — a county's Passion play Monday, July 11, 2011 @ 10:50PMSome members of the all-volunteer cast couldn't afford to participate in Lake County's play; others moved away for better job prospects. But faith can offer a welcome respite from struggles. The Rev. Philip Ryan knows a lot can go wrong during the annual Lake County Passion Play. Chariot wheels stick in the grass. Sheep balk at taking direction. Fake blood doesn't splatter properly during ...
LegalOops offers help, minus the lawyer Monday, July 11, 2011 @ 9:01PMTom Damron's modest home in the Silver Meadows subdivision is roughly 1,000 miles from Wall Street.
Elias: State's recovery depends on housing industry Monday, July 11, 2011 @ 7:29PMThere's one big reason why foreclosure reforms that strongly encourage banks to redo loans for 'underwater' homeowners are a must for California, and soon:
Room for Debate: Hanging on to Houses Monday, July 11, 2011 @ 7:14PMThe program to give mortgage relief to struggling homeowners has failed. How can it be fixed in way that's fair to owners and taxpayers?
U.S. 10-Year Yield Slides to July Low on Greece, U.S. Outlook Monday, July 11, 2011 @ 3:06PMTreasuries rose, pushing 10-year note yields to the lowest level this month, as Europe’s sovereign-debt crisis intensified and before data this week forecast to show the U.S. economic recovery is slowing.
West Nile mosquitoes are back in area Monday, July 11, 2011 @ 1:27PMThe DuPage County Health Department announced Friday that the first positive test for West Nile Virus in 2011 came from mosquitoes taken from trap in Lemont. The mosquitoes that tested positive were collected July 6 and tested the following day. The wet and cool spring delayed the development of the mosquitoes that spread West Nile Virus, according to information from the DuPage County Health ...
Homeowner fight gets ugly Monday, July 11, 2011 @ 12:15PMThe Inlet House condo complex in Fort Pierce, Fla., was once the kind of place the 55-and-older set aspired to.
Threat to American dream of home ownership devastating for minorities Monday, July 11, 2011 @ 12:08PMAs the economic downturn continues to plague employment, education and every other aspect of American living, including housing, it is imperative to note the ongoing loss of wealth in communities of color wrought by the loss of homeownership through foreclosures and loan modification scams.
Wells Fargo to Help Central Valley Customers Facing Mortgage Payment Challenges Monday, July 11, 2011 @ 11:43AMMODESTO, Calif.--(BUSINESS WIRE)--Wells Fargo & Company (NYSE:WFC) announced today it is hosting a free workshop for Wells Fargo Home Mortgage, Wells Fargo Financial, Wachovia Mortgage and Wells Fargo Home Equity customers facing financial hardships. The two-day workshop — to which Wells Fargo is inviting thousands of Central Valley homeowners — will take place July 20-21, from 9 a.m. – 7 p.m ...
Fitch Rates Metro Water Reclamation Dist of Greater Chicago, IL's GOs 'AAA'; Outlook Stable Monday, July 11, 2011 @ 11:29AMNEW YORK--(BUSINESS WIRE)--Fitch Ratings assigns an 'AAA' rating to the following Metropolitan Water Reclamation District of Greater Chicago, Illinois (the district) bonds: --$370,000,000 taxable general obligation (GO) capital improvement bonds, limited tax series 2011A; --$30,000,000 GO capital improvement bonds, limited tax series 2011B; --$100,000,000 GO capital improvement bonds, unlimited ...
Homeowners' associations can pit neighbor against neighbor Monday, July 11, 2011 @ 10:32AMThe Inlet House condo complex in Fort Pierce, Fla., was once the kind of place the 55-and-older set aspired to. It was affordable. The pool and clubhouse were tidy, the lawns freshly snipped. Residents, push-carts in tow, walked to the beach, the bank, the beauty parlor, the cinema and the supermarket. In post-crash America, this was a dreamy little spot. Especially on a fixed income. But that ...
Endless Bummer: Americans Suffer in 2011 Monday, July 11, 2011 @ 7:33AMBOSTON (TheStreet) -- The country's economy is grinding along two years after the Great Recession ended. A growing number of Americans worry they'll never regain the sense of financial security they once had. Prices for gas, oil and food have risen, fees of all kind are up, the job market is worsening and property values are in a deep slump. In contrast, many of the nation's wealthy are doing ...
New rules spark down payment debate Saturday, July 9, 2011 @ 11:10PMIndustry fears that a return to old-time lending could keep sales in the doldrums for years.
Apartments, rentals heat up; housing sales decline Saturday, July 9, 2011 @ 10:11PMHome sales in the Columbus metropolitan statistical area fell nearly 7 percent through the first six months of this year, according to Multiple Listing Service data.
End Zone: A Citi slicker and Mets savior Saturday, July 9, 2011 @ 9:06PMIn a vault somewhere on the island of Manhattan, the prospective partner of the New York Mets has a secret stash of gold. He is not saying where but his hunch is that gold is a good investment, so he has made his buys and piled up the bars, a glistening,.
Palm Beach County cities crack down on prostitution Saturday, July 9, 2011 @ 12:41PMMichael, a 33-year-old, unemployed, single father, was one of the first to take the bait at the prostitution sting in Lake Worth last month.
County’s property tax shortfall to be felt locally Friday, July 8, 2011 @ 5:50PMSacramento County Assessor Kathleen Kelleher announced earlier this week that a nearly $40 million shortfall in property taxes could have an impact on revenues for local agencies for the 2011-12 fiscal year that started on July 1.
Buffett predicts job growth when housing rebounds Friday, July 8, 2011 @ 4:24PMBillionaire investor Warren Buffett said Friday the nation’s employment picture will improve significantly once residential housing construction rebounds.
GOP Ad Likens Obama's Presidency to Train Wreck; Calls for Change in Direction Friday, July 8, 2011 @ 3:43PMThe Republican National Committee's latest attack ad uses speeding vehicles to describe the Barack Obama presidency as a wreck.
Existing-Home Sales Up In Las Vegas; Median Prices Down Slightly Friday, July 8, 2011 @ 12:30PMSingle-family home sales increased 8 percent in June from the same month a year ago, while median prices slipped 11.1 percent to $124,500, the Greater Las Vegas Association of Realtors reported Friday. Counting condo and townhome sales, it was the third-highest
Pike Builds An Empire—& Rebuilds A City Friday, July 8, 2011 @ 10:31AMNew Haven’s busiest real-estate developers looked out from a downtown rooftop onto a city they’re remaking at breakneck speed, from subsidized housing to penthouse duplexes, with a fresh million infusion. No wonder “Pike International” signs have become practically as visible as stop signs.
Gov't eases foreclosure rules for unemployed Friday, July 8, 2011 @ 8:48AMThe Obama administration is making it easier for out-of-work homeowners to stay in their homes.
Neighbor vs. neighbor as homeowner fights gets ugly Friday, July 8, 2011 @ 8:18AMThe Inlet House condo complex in Fort Pierce, Fla., was once the kind of place the 55-and-older set aspired to. It was affordable. The pool and clubhouse were tidy, the lawns freshly snipped. Residents, push-carts in tow, walked to the beach, the bank, the beauty parlor, the cinema and the supermarket. In post-crash America, this was a dreamy little spot. Especially on a fixed income.
Gazette.Net: Recession decimates Maryland condo market Friday, July 8, 2011 @ 6:40AMSales of new condominiums in Montgomery, with 127 units, and Prince George's, with 107 units, during the past year have fallen to barely 10 percent of the peak in 2006 before the Great Recession ravaged the housing industry, according to a quarterly report by Delta Associates of Alexandria, Va.
Dutchess finances starting to look up, but finance commissioner urges caution Friday, July 8, 2011 @ 5:31AMPOUGHKEEPSIE – Dutchess County government spent less than it budgeted last year and its unappropriated fund balance was untapped as a result. Sales tax revenues are also up so far this year by eight percent and foreclosures appear to be down.
Obama administration boosts aid for unemployed homeowners Thursday, July 7, 2011 @ 8:46PMUnemployed homeowners with government-insured mortgages will be allowed to miss a year of payments while they try to find a job. Still scrambling to stabilize the struggling housing market, the Obama administration will allow some unemployed homeowners to miss a year of mortgage payments without threat of foreclosure while they try to find a new job.
Obama expands mortgage aid for unemployed Thursday, July 7, 2011 @ 7:24PMHayley Peterson Examiner Staff Writer Follow Her @hcpeterson The Obama administration on Thursday started a new initiative that would require mortgage lenders to give some unemployed homeowners who have fallen behind in their payments up to a year before the banks can foreclose on their homes. The policy change allow homeowners 12 months -- instead of the current four months -- to ...
A Democrat loses his enthusiasm Thursday, July 7, 2011 @ 7:21PMA Democrat loses his enthusiasm
Neighbor vs. neighbor as homeowner fights get ugly Thursday, July 7, 2011 @ 6:57PMThe Inlet House condo complex in Fort Pierce, Fla., was once the kind of place the 55-and-older set aspired to. It was affordable. The pool and clubhouse were tidy, the lawns freshly snipped.
Editorial: Oakland example of ‘shared sacrifice’ Thursday, July 7, 2011 @ 5:54PMIf our leaders in Lansing need an example of true “shared sacrificing” in these tight budgetary times, they need only look to Oakland County.
Obama reforms to help out-of-work homeowners Thursday, July 7, 2011 @ 5:47PMMore mortgage relief is on its way for certain out-of-work homeowners with FHA-backed loans.
Stocks, Commodities Rally on U.S. Job Growth; Euro Strengthens Thursday, July 7, 2011 @ 3:46PMStocks rallied, sending U.S. benchmark indexes to two-month highs, and commodities rose as data on jobs and retail sales bolstered optimism in the economy. The euro climbed versus the dollar after the European Central Bank signaled more interest-rate increases.
US stocks nudge three-year high Thursday, July 7, 2011 @ 3:42PMU.S. stocks jumped, sending the S&P 500 close to a three-year high as retail and job market data bolstered confidence in the economy.
An #askObama Takeaway: Public has questions about housing, education policy Thursday, July 7, 2011 @ 3:30PMIn the wake of yesterday’s “Twitter townhall,” The Boston Globe put together an interesting infographic comparing Twitter users’ #askObama questions with the past two weeks of questions at White House press briefings and gaggles.
Tri-County Housing awarded homeowners loan program funds Thursday, July 7, 2011 @ 12:17PMTri-County Housing & Community Development Corporation announced that it has been selected by NeighborWorks America in conjunction with the U.S. Department of Housing and Urban Development (HUD) to help promote the Emergency Homeowners’ Loan Program (EHLP) in the state of Colorado.
Federal foreclosure seminar set for Jacksonville Thursday, July 7, 2011 @ 11:41AMA free seminar for Florida homeowners behind on their mortgage or at risk of foreclosure is set for 11 a.m. to 7:30 p.m. Wednesday at the Prime Osborn Convention Center at 1000 Water St.
AIG Sells New Jersey Apartment Properties to Vantage for $241.5 Million Thursday, July 7, 2011 @ 11:28AMAmerican International Group Inc. (AIG) , the insurer seeking capital to replace U.S. government bailout funds, sold 2,200 apartments in central New Jersey to Vantage Properties LLC and Angelo, Gordon & Co. for $241.5 million.
Property values decrease but assessor optimistic Thursday, July 7, 2011 @ 10:31AMProperty tax receipts continue to decline in Yolo County, but Assessor Joel Butler remains hopeful home values will start increasing in the near future. Butler released the 2011-12 tax roll on Tuesday showing a continuing decline in property values.
More trouble for Modesto nonprofit agency SCAP Thursday, July 7, 2011 @ 1:51AMThe housing director for a Modesto nonprofit agency recently has lived in two homes that were purchased and renovated through the city's Neighborhood Stabilization Program, and two of her family members occupy homes in the program.
HUD Offering Interest-Free Loans Wednesday, July 6, 2011 @ 11:53PMProgram to help homeowners in danger of foreclosure
Taking Another Look At Auto Stocks Wednesday, July 6, 2011 @ 3:05PMThe automotive manufacturers in the U.S. may be on their way to recovery.