AP - Against a backdrop of record-low new home sales and ballooning losses from foreclosures, Housing Secretary Shaun Donovan told lawmakers Thursday that the lending industry is set to launch the Obama administration’s $75 billion foreclosure prevention program next week.
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Time.com - One false step, one fierce wind, and a lifetime of work and hope can all come crashing down. The faces behind the foreclosures
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AP - Fannie Mae said Thursday it needs $15.2 billion in government aid — though that figure is expected to grow — because it lost nearly $59 billion last year as the foreclosure crisis mushroomed.
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An aging mall in Pennsylvania is fighting to reinvent itself amid the toughest climate for retailers in decades.
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Bank of America avoided the excesses of many rivals during the housing boom, but its performance isn’t nearly as impressive with regard to mortgage-backed securities.
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Despite seeing rents slip by 4%, Hong Kong leapt ahead of London’s West End as home of the world’s most expensive office space in 2008.
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IStar Financial, the commercial-mortgage REIT, is in danger of violating certain bank-debt covenants.
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St. Joe Co. swung to a loss as Florida’s largest private-property owner recorded $55.8 million in write-downs and write-offs on goodwill and the value of projects under development.
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AP - Gov. Pat Quinn is reviewing how the son of embattled U.S. Sen. Roland Burris got a state job as a housing-agency lawyer under former Gov. Rod Blagojevich’s administration, just weeks after he landed in tax and foreclosure trouble.
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AFP - Troubled US mortgage finance giant Fannie Mae said Thursday it lost almost 60 billion dollars last year and expected to suffer more losses in 2009, and asked for a further 15.2 billion dollars in government aid.
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