MORTGAGE

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Household debt swells to record high

The debt burden on Canadian households rose to a record high in the third quarter as mortgage and consumer credit increased but the net worth of households fell, Statistics Canada said on Tuesday.
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WaMu Settles Dispute, Eyes Bankruptcy Exit

Washington Mutual Inc., the biggest bank to fail in U.S. history, said it reached a settlement in a dispute between shareholders and certain creditors that had prevented the bank from emerging from Chapter 11 bankruptcy proceedings.
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OECD warns of government funding pinch next year

OECD countries face a growing risk of a refinancing pinch next year as they battle to secure investor confidence while rolling over trillions of dollars in debt, the Paris-based organisation warned on Monday.
Job seekers stand in line to speak with employers at a job fair in San Francisco, California November 9, 2011.

Long-Term Jobless Eye Bleak Future as Benefits End

About 7 million Americans get jobless benefits under seven different state and federal programs. Around one-quarter of them will fall off the rolls in January unless the U.S. Congress renews an extended-benefits program that expires at the end of the year.
Housing starts slump even as prices rise

Housing starts slump even as prices rise

Canadian housing starts slumped last month, hurt by weakness in the condominium sector, in the latest sign that a property boom fueled by low interest rates is under pressure from global economic uncertainty.

Euro crisis big risk to Canadian banks: BoC

Risks to Canada's financial stability rose sharply in the second half of the year largely because of the European sovereign debt crisis, even though domestic banks remain stronger than in most other countries, the Bank of Canada said on Thursday.
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Companies Sit on $2.12 Trillion in Cash in Third Quarter

U.S. companies sat on their largest pile of cash on record during the third quarter, providing a substantial buffer against any blow that might come from Europe's debt crisis, data from the Federal Reserve showed on Thursday.
U.S. dollar bank notes are seen in a bank in Budapest

U.S. Firms Build Cash Buffer to European Crisis in Q3

U.S. companies sat on their largest pile of cash on record during the third quarter, providing a substantial buffer against any blow that might come from Europe's debt crisis, data from the Federal Reserve showed on Thursday.
occupy

Occupy Wall Street Turns to Foreclosure, Eviction Defense

As the country continues to grapple with the devastating aftermath of the housing market's collapse, acts of civil disobedience centering on foreclosures and evictions represent a powerful tactic for the Occupy Wall Street movement.
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HARP 2.0 Revisited: Pros and Cons of the Program

The Home Affordable Refinance Program (HARP) is a program specially developed for home owners whose houses have lost value in the last few years and have not managed to get a refinance mortgage.
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U.S. targets mortgage servicers for poor performance

The Obama administration said on Wednesday it will keep the pressure on two big U.S. banks to help more troubled borrowers from losing their homes by withholding payments to the banks under a foreclosure-prevention program for the third straight quarter.
Rep. Barney Frank (D-MA) speaks at a news conference announcing that he would not seek a 17th term in congress next year in Newton

Frank Requests Hearing on Mortgage Abuses at Ally

Congressman Barney Frank on Wednesday asked his colleagues to hold a hearing on alleged mortgage abuses at Ally Financial, a day after the attorney general from his home state of Massachusetts requested that lawmakers investigate.

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