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Fed cuts fail to lower 30-year mortgage rates (Los Angeles Times)  They remain roughly where they were a year ago amid banks' wariness about making loans. The Federal Reserve has been slashing short-term interest rates since August with


U.S. Foreclosures Continue to Surge  New foreclosure activity continued to increase in August, rising 36% from July and more than doubling from a year earlier. read more...


Highlands hearing draws crowd  MORRIS TWP. --The only thing that the more than 220 people who turned out for Tuesday's first public hearings on the Highlands draft regional master plan agreed on was the


Confused by all the Mortgage Options? Here's Help (Evening Times)  (ARA) - Fixed rate. Adjustable rate. Interest Only. Flex. All of the different types of home loans that are available these days can puzzle many homebuyers. But, say mortgage experts,


Over half the world lives in poverty: study  More than half of the world's people live on less than two dollars a day, with 47 percent of East Asians and 44 percent of Southeast Asians surviving at that


Due-Diligence Firm to Aid New York Subprime Probe  A company that analyzes mortgages for banks has agreed to aid the state in its investigation into Wall Street banks' role in the mortgage-market turmoil. read more...

August 24th, 2006

H&R Block shares plunge on likely loan losses

H&R Block Inc.’s announcement Thursday that it set aside $102.1 million to prepare for mortgage-loan losses is likely to spook already paranoid investors in the market for subprime mortgages, or home loans to …

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