FORECLOSURES

October Existing-Home Sales Rise Unexpectedly, But Still Weak

Sales of previously owned homes in the U.S. rose in October while the number of homes on the market continued to decline, according to the National Association of Realtors. Although falling property values and near record-low borrowing costs are starting to appeal to homebuyers, a growing trend of last minute cancellation suggests that even those who are looking to buy are worried about the housing market.

Occupy Wall Street Rallies, Undeterred by Zuccotti Park Eviction

OWC
Occupy Wall Street may have lost Zuccotti Park, but a Thursday morning march on Wall Street proceeded with undiminished enthusiasm. Late Thursday morning about 11 a.m. EST, several hundred protestors returned to the park, took down baricades to chants of Whose park? Our park! as they stormed back in. Police did not immediately react.
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Gingrich Earned $1.6 Million as Freddie Mac Consultant

Newt Gingrich earned between $1.6 million and $1.8 million as a consultant for the government-sponsored mortgage company Freddie Mac, far more than the $300,000 contract he disclosed in a recent debate, according to a Bloomberg News investigation. The advice he reportedly gave them contradicts his recent criticisms of the company.
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Fed's Fisher sympathetic to Wall St protesters

The growing anti-Wall Street protests in New York and across the country are an understandable reaction to persistently high unemployment, a top U.S. Federal Reserve official said on Thursday.
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Anti-Wall Street protesters vow to keep up fight

Anti-Wall Street protesters vowed to keep up their fight on Sunday despite the arrests of more than 700 people the previous day for blocking traffic lanes on the Brooklyn Bridge in an unauthorized protest.
U.S. Housing Sector

Case-Shiller: Home Prices Rise for 4th Straight Month on Summer Buying

Home prices in the 20-city Case Shiller Index rose for the fourth straight month in July, but the operative phrase remains: let the buyer beware. Demand conditions in most major U.S. cities remains soft, and even though home prices are attractive now, price retrenchments are possible.
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Cracking Down on Job-Candidate Credit Checks

Last week, the California legislature sent the governor a bill that would ban most employers from running credit checks on job applicants. If the governor signs the bill into law (which this web site tells us he’s likely to), California will become the biggest get yet for those pushing for such laws around the nation. Is this just what a country full of unemployed people with wrecked credit needs? Or is it, as HR managers have been hollering, a way of hindering them from finding good, upstandin...
A Lennar model home is open for customers in a new neighborhood in the Denver suburb of Thornton

Buying frenzy Lawsuit vs Homebuilders Revived

A federal appeals court revived a lawsuit by homeowners who accused eight major homebuilders of causing them to overpay for their homes by marketing nearby houses to high-risk borrowers who later went into foreclosure.
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California rebound held back by inland areas

California will trail the nation's economic recovery as its once fast-growing inland areas struggle for years to come with a dearth of jobs and devastated housing markets, a report released on Tuesday said.
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California's Rebound Seen Held Back by Inland Areas

California will trail the nation's economic recovery as its once fast-growing inland areas struggle for years to come with a dearth of jobs and devastated housing markets, a report released on Tuesday said.
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Fed orders Goldman to review foreclosures

The Federal Reserve ordered Goldman Sachs Group Inc to hire a consultant to review practices of a former mortgage subsidiary on Thursday and said it plans to assess a monetary penalty for wrongful foreclosures.
Construction workers

White House could Unveil Mortgage Plan Next Week

The Obama administration is considering unveiling new plans next week to revive the ailing housing market and reduce foreclosures, including an effort to help troubled borrowers refinance their mortgages.
A share trader checks share prices as she sits behind her trading terminals at the trading floor of the German stock exchange in Frankfurt

Stern Advice: Where to Put Your Money Now

You've got to put your money somewhere, right? Under the mattress doesn't really work as a retirement program. It's lumpy, vulnerable to theft and your kids might find it.
An abandoned and dilapidated home, one of 32 abandoned properties in the neighborhood listed on the auction block during the Wayne County tax foreclosures auction of almost 9,000 properties is seen in Detroit, Michigan, October 21, 2009.

Facing criticism, MERS cuts role in foreclosures

MERS, the electronic mortgage registry that faces multiple investigations for its role in thousands of problematic foreclosure cases, changed its rules to lower its profile in court-supervised foreclosures.
Former Massachusetts Gov. Mitt Romney

Romney Flip-Flops on Obama Critique

Former Massachusetts Gov. Mitt Romney has backtracked on one of the core tenets of his presidential campaign: that President Barack Obama has made a struggling U.S. economy even worse.

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