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Goldman To Pay Record SEC Settlement
Goldman Sachs & Co. has agreed to pay $550 million to settle civil fraud charges that the Wall Street giant misled buyers of mortgage-related investments. The settlement came on the same day that...
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Stocks Cut Losses On Fed's Economic Stimulus Plans
Federal Reserve Chairman Ben Bernanke (AP, File) Stocks have recovered some of their losses after investors reacted positively but still cautiously to news that the Federal Reserve is taking steps to...
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US Gives Mich. $128M for Jobless Homeowners
(CBS) The Obama administration says more money is headed to Michigan to help unemployed homeowners avoid foreclosure. Michigan is expected to get about $128 million from the grants announced Wednesday....
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Mortgage Rates Hit 4.44%
Mortgage rates sank to the lowest level in decades this week, pushed down by the weak economy and the Federal Reserve’s move to help lift the recovery by purchasing government debt. Mortgage buyer...
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Help For Homeowners Facing Foreclosure
Michigan Governor Jennifer Granholm says Michigan will be receiving additional federal funding help for homeowners facing foreclosure. The governor was at the Mexicantown Welcome Center in southwest...
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Jobs Scarcity Fuels Foreclosure Risk
One in 10 American households with a mortgage is at risk of losing its home, and the foreclosure crisis could worsen if jobs remain scarce. About 9.9 percent of homeowners had missed at least one...
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Home Prices Up In Detroit, 16 Other Cities
(AP) Home prices rose in June for a third straight month as now-expired tax credits inspired a burst of home-buying. But prices are expected to fall through the rest of the year now that demand has...
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The Feldman Report AM 09/07
WWJ and FOX 2 Detroit’s Murray Feldman reports on the housing crisis has taught home owner to take a closer look at their mortgage.
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Mortgage Rates Climb Again
(AP Photo) Rates on 30-year mortgages climbed for the second straight week, but remain near the lowest level in decades. The average rate for 30-year fixed loans this week was 4.37 percent, mortgage...
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Detroit Named “Most Affordable” Community
Coldwell Banker is out with its annual list of the most expensive and most affordable American housing markets. The most costly is Newport Beach, California, followed by Palo Alto, California and Rye,...
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Bank of America Delays Foreclosures
Bank of America is delaying foreclosures in 23 states as it examines whether it rushed the foreclosure process for thousands of homeowners without reading the documents. The move adds the nation’s...
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States Launch Foreclosure Probe
Officials in all fifty states and the District of Columbia have launched a joint investigation into allegations that mortgage companies mishandled documents and broke laws in foreclosing on hundreds of...
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Chase Holds Job Fair Friday
Are you trying to ‘chase’ down a job? Chase is hosting a job fair from from 11 a.m. to 7 p.m. at the Troy Marriott, 200 W. Big Beaver Road in Troy. The company is looking to hire 200 full-time regular...
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Michigan Tops Foreclosure Report
Michigan continues to be one of the top states when it comes to foreclosures. Foreclosure tracker RealtyTrac Inc. reports 16,061 foreclosure filings in December in Michigan. With 1 in every 282 homes...
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Trial Underway In Quicken Loans Overtime Case
A Detroit jury is hearing testimony in a trial that will determine whether online mortgage giant Quicken Loans owes overtime to more than 300 former employees. The workers contend they were sales...
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Detroit Housing Market Prices Fall To 11 Year Low
DETROIT (WWJ) - Home prices are at their lowest in eleven years in many of the country’s major cities. The Standard and Poor’s/Case Shiller 20-city index shows declines in 19 cities from December to...
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Clerk Alleges Fraud On Oakland County Mortgage Documents
OAKLAND COUNTY (WWJ) – The Oakland County Clerk is asking State Attorney General Bill Schuette to look at some irregularities in the assignment of several mortgages. According to Bill Bullard, he’s...
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Home Ownership Tips: Live Video Webinar
Home Ownership: Tips To Survive and Thrive Presented by Coldwell Banker Weir Manuel Thirty-year Real Estate veteran Kelly Sweeney of Coldwell Banker Weir Manuel and mortgage expert Nick Wuest of...
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Free Legal Help For Those Facing Foreclosures
DEARBORN (WWJ) – Those on the verge of losing their homes are being offered free legal help Saturday in Dearborn. Steve Babson of the group People Before Banks said they are offering a free legal...
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Michigan Foreclosures Defy National Trend In May
DETROIT (WWJ) - Foreclosure activity in the state and Metro Detroit defied the national trend in May, with the state posting a 12.5 percent increase from April, while the national rate of troubled...
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Mortgage Interest Rates Near All-time Lows
BIRMINGHAM (WWJ) – It may be bad news for your 401k, but it could be great news if you want to refinance your home. The sputtering economy is keeping mortgage rates low, with some fixed rates now...
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101-Year-Old Detroit Woman Evicted In Foreclosure
UPDATE 9/15: HUD said they will pay the taxes and let the super-senior return to the home. DETROIT (WWJ/AP) – A 101-year-old woman was evicted from the southwest Detroit home where she lived for nearly...
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HUD: Evicted 101-Year-Old Detroit Woman Going Home
DETROIT (WWJ/AP) - A 101-year-old woman who was evicted from her longtime Detroit home after her 65-year-old son failed to pay the mortgage is getting it back, the U.S. Department of Housing and Urban...
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Obama To Bypass Congress On Mortgages
WASHINGTON (WWJ/AP) – With Republicans continuing to stall action on President Obama’s $447 billion jobs bill, the White House is taking action to help jump-start the economy with the message “We...
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Detroit Town Hall Meeting Addresses Home Foreclosures
DETROIT (WWJ) - A distinguished panel of experts are gathering in Metro Detroit on Saturday for a free public town hall meeting to help those who are facing foreclosure. Those who attend the meeting,...
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State Shuts Down Suspected Fake Mortgage Company
DETROIT (WWJ/AP) – The state of Michigan says it has shut down what’s believed to be a phony mortgage company seeking to scam people out of money and personal information. The Office of Financial and...
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Metro Detroit Property Values Continue To Fall
DETROIT (WWJ) - If you’re a homeowner whose mortgage is underwater, you have a lot of company. WWJ’s Rob Sanford reports property values in metro Detroit continue to fall. The Southeast Michigan...
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Flagstar Pays $133M To Settle Mortgage Fraud
TROY (AP) - Flagstar Bancorp Inc. has agreed to pay $133 million to settle claims its mortgage unit engaged in fraudulent lending practices. The U.S. government said in a release Friday it filed and...
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Oakland County Wins Lawsuit Against Fannie, Freddie
DETROIT (WWJ) – Oakland County could gain millions of dollars now that a federal judge has ruled that Fannie Mae and Freddie Mac withheld real estate transfer taxes on foreclosures. The county sued the...
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U-M: Many Families Are Underwater With Debts
ANN ARBOR (WWJ) - As the country emerges from the Great Recession, a substantial number of U.S. families are underwater—and not just with their mortgages. According to a new University of Michigan...
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Mich. Builders Rally In Support Of Home Ownership
DETROIT (AP) - Several home builder groups have planned rallies protesting proposed federal tax, legislative and regulatory policies they claim will make it even harder for people to buy homes. The...
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Oakland County Holds Foreclosure Prevention Forum
AUBURN HILLS (WWJ) - Oakland County is looking to help homeowners on the brink of foreclosure. County Treasurer Andy Meisner is hosting a free foreclosure prevention forum for homeowners under water on...
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What To Do With Your Tax Refund
By Ray Martin, CBS MoneyWatch (CBSMoneyWatch) Most tax filers are getting a refund after they file their 2012 return. With the average refund running about $3,000, a lot of people will be thinking...
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Mortgage Processor Gets Up To 20 Years In Robo-Signing Scheme
GRAND RAPIDS (WWJ/AP) - The former president of a mortgage document processing company has been sentenced to up to 20 years in prison on a racketeering charge in a Michigan case. Lorraine Brown pleaded...
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Detroit’s Stik Integrates With LinkedIn To Expand Reach Of Professional Reviews
DETROIT — Stik, a reviews website for local professionals, said Thursday it had integrated with LinkedIn via its API, bringing together trusted, word of mouth referrals and the world’s largest online...
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Officials: Corrupt Oakland County Lawyer Targeted Homeowners Facing Foreclosures
LANSING (WWJ/P) – Authorities say a lawyer and his business stole hundreds of thousands of dollars from more than 100 people in Michigan that were facing mortgage foreclosures. Michigan Attorney...
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Duggan Announces Mortgage Program For City Workers
DETROIT (WWJ/AP) — Mayor Mike Duggan has announced a new program to make loans and renovation funding available to city workers who buy homes through the Detroit Land Bank Authority auction. Duggan...
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Mayor Duggan To Announce Detroit Home Mortgage Program
DETROIT (AP) – A new program is expected to allow qualified buyers to receive separate mortgages to purchase and do repairs on homes in Detroit. Mayor Mike Duggan is scheduled to announce the Detroit...
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Karmanos Gets Into Mortgage-Lending Business With Startup
BIRMINGHAM, Mich. (AP) – Businessman and Hockey Hall of Fame member Peter Karmanos is getting into the residential mortgage-lending business with a startup company. The Detroit Free Press reports...
View ArticleAdvocates Tell Renters To Seek Legal Advice As Moratorium On Evictions Ends...
CBS Detroit – If you are behind in the rent, now would be a good time to get legal advice. In an article by the Detroit Free Press, the moratorium on evictions by Governor Whitmer is set to expire this...
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