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12/21/2006 Subprime Foreclosures At Pandemic Levels
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Evidence that federal plans to tighten the purse strings on subprime lenders may be too little too late, a non-profit consumer advocacy organization says 2.2 million subprime holders have either lost their homes this year or will face foreclosure in the next few years.
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12/20/2006 Prison stay delayed for ex-Homestore CEO
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Lawyers for Stuart Wolff, the former Homestore CEO who was sentenced in October to 15 years in federal prison for his role in an accounting fraud scheme that artificially inflated Homestore revenues and almost ruined the company, have filed a motion to keep him out of custody pending an appeal of his conviction.
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12/20/2006 Austin real estate posts record November
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Home sales and prices in the Austin, Texas, area reached new
highs for the month of November, signaling a still-hot market, the Austin Board
of Realtors reported today.
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12/20/2006 NAR worried about rising foreclosure rate
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The National Association of Realtors has
issued a statement to express concern "over the rising rate of
defaults and foreclosures occurring in many areas around the country, and many
Realtors believe that some families don't understand the risks of taking out
'exotic' mortgages."
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12/20/2006 Home loan apps tumble
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Overall mortgage application volume fell significantly last
week on a seasonally adjusted basis from the week before, as interest rates
continued to climb, the Mortgage Bankers Association reported today.
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12/20/2006 Overnight real estate rates idle
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Long-term mortgage interest rates were mostly flat Tuesday, and the benchmark 10-year Treasury bond yield inched up to 4.59 percent.
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12/20/2006 Lawsuit alleges real estate commission-fixing in Illinois
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An Illinois real estate broker filed an antitrust lawsuit
against several real estate brokerage companies accusing them of engaging in a
group boycott and other retaliatory actions after the broker advertised
lower-than-typical commission rates for his real estate services.
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12/20/2006 The Tax-Tip Year End Countdown: 5 Ways to Save Money Before December 31st
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With Christmas near, the official "end of the year" countdown for many people has begun. For business owners, that means gathering records, filling in holes in the paperwork or accounting data, and beginning to get ready for the upcoming tax season.
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12/20/2006 Licensing Initiative Aims to Slow Fraud
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The lending business must embrace a licensing initiative by state banking and mortgage regulators if it is to keep from crumbling under the weight of fraud and unethical loan brokers, a proponent of that project said here last week.
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12/20/2006 Developing a Successful Homeowner Association
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Lifestyles of the twenty-first century have radically changed from fifty years ago. The clamor for big lots and single-family houses has been replaced by a demand for condominiums and planned communities (generically called "homeowner associations" or HOAs).
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