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Mortgages

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  • Watchdog: Don't wait to cut debt: Front & Center

    Watchdog: Don't wait to cut debt: Front & Center
    There's rough weather ahead for the federal budget and the nation's economy, according to this month's long-term forecast from the nonpartisan Congressional Budget Office. The CBO projects the growing national debt will reduce Americans' incomes, raise their borrowing costs and cut economic growth. Maya MacGuineas, president of the bipartisan Committee for a Responsible Federal Budget, told us in an email interview that putting off action to reduce deficit spending will only make solutions more painful. Excerpts of the interview follow. A full transcript is online at OrlandoSentinel.com/Opinion.
  • CIT Group to buy Pasadena lender OneWest Bank

    CIT Group to buy Pasadena lender OneWest Bank
    Pasadena's OneWest Bank, which rose from the ashes of failed high-risk home lender IndyMac Bank, agreed to be bought by commercial lender CIT Group Inc. in a $3.4-billion deal that would create the biggest bank based in Southern California. The...

    Lender CIT to buy OneWest Bank, formerly IndyMac, for $3.4 billion

    Lender CIT to buy OneWest Bank, formerly IndyMac, for $3.4 billion
    OneWest Bank in Pasadena, born from the ashes of failed high-risk home lender IndyMac Bank, has agreed to be acquired by commercial lender CIT Group for $3.4 billion, a hugely profitable deal for the hedge-fund and private-equity investors that have owned...

    Local foreclosures decline, but still higher than U.S. average

    Local foreclosures decline, but still higher than U.S. average
    Foreclosure activity in the Chicago area continues to decline but remains above the national average. That's bad news for local home sellers who have a foreclosed home nearby because while home sales prices are decidedly up year-over-year, they could be...

    JPMorgan begins to provide consumer help under $13 billion settlement

    WASHINGTON (Reuters) - JPMorgan Chase & Co has begun to provide the debt forgiveness and other help to struggling homeowners under last year's $13 billion accord with federal and state authorities, though it has only turned over a handful of details, a...