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Former Detroit cop charged with fraud in mortgage scheme (Detroit Free Press)  A fired Detroit police officer was charged today with three felonies on allegations that he forged the signature of Wayne County Clerk Cathy Garrett to paperwork in an attempt to


NAACP files discrimination suit against mortgage lenders in sub-prime loan industry (Louisiana Weekly)  Taylor Media Services - Last week, the NAACP filed a lawsuit in federal court in Los Angeles, accusing a dozen mortgage lenders of discriminating against blacks by steering them into


Lulu project on target  PILING work for the BD95 million Abraj Al Lulu project will be completed today for the first tower and the podium area.read more...


Buyers Could Gain an Edge In New York's Nassau County  Bargains have been scarce in this Long Island community but as more homes enter the market, lower housing prices could be on the horizon.read more...


Fed to Lend $200 Billion, Take on Mortgage Securities (Update3) (Bloomberg.com)  March 11 (Bloomberg) -- The Federal Reserve, struggling to contain a crisis of confidence in credit markets, plans to lend up to $200 billion in exchange for mortgage-backed securities.read more...


First Advantage buys mortgage credit reporting firm (BizJournals)  First Advantage Corp. purchased the assets of CredStar, the mortgage credit reporting business unit of Fiserv Inc. (FADV) (FISV)read more...

October 18th, 2005

Tax reform proposal eliminates deduction of property taxes and limits size of interest on mortgage deducted (Newsday.com)

WASHINGTON —Owning a home would lose a lot of its tax advantages if a presidential tax reform panel proposal ever becomes law. Homeowners would no longer be allowed to deduct property taxes and their mortgage interest deductions would be limited under a simplification plan endorsed by the panel.

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