AP - CIT Group Inc.’s shares soared Tuesday on a report that hedge fund manager John Paulson is considering merging the troubled finance company with failed mortgage lender IndyMac Federal Bank. But they plunged after-hours as a separate report said CIT is preparing a debt swap offer that could wipe out taxpayers’ investment or could file for bankruptcy protection.
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AP - A bipartisan push is under way in the Senate to spend more money to stop mortgage scams.
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Time.com - Viewpoint: the $8,000 tax credit for first-time home buyers is set to expire soon.Many people want Congress to extend it, but there are strong reasons not to
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Reuters - U.S. home prices in July rose for the third straight month, surpassing forecasts and suggesting that the housing market is stabilizing after a three-year plunge.
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Reuters - CIT Group Inc shares surged on Tuesday following a newspaper report that hedge fund Paulson & Co wants to combine the cash-strapped lender with a Paulson-affiliated bank once known as IndyMac. But a person familiar with the matter denied the report.
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A Starwood-led group offered to pay $3.5 billion for the first mortgage of Extended Stay, setting the stage for a bankruptcy battle.
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Empire Resorts, which has been trying to develop a casino near New York City, was looking into the financial abyss last June. Today the company’s prospects are looking rosier.
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Credit Suisse has acquired Independence Wharf, a well-known waterfront office building in Boston, for $106 million.
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To see why a key government program aimed at resuscitating the securitized commercial-property debt market is off to a slow start, one need only look at the financing of a Manhattan office tower.
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AP - A million dollars doesn’t buy you what it once did. In most U.S. neighborhoods, it now gets you a lot more.
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