© WSJ.com 2009  The proportion of U.S. homeowners who owe more on their mortgages than the properties are worth has swelled to about 23%, threatening prospects for a sustained housing recovery.  Nearly 10.7 million households had negative equity in their homes in the third quarter, according to First American CoreLogic, a real-estate information company based in Santa Ana, Calif. Read more. ...
More >>

© CBSNews.com 2009  The entire Senate will finally have a chance to deliberate health care reform legislation, after the Democrats on Saturday managed to eke out 60 votes to move their bill forward. Saturday's vote to start debate was an important one for Senate Majority Leader Harry Reid, who aims to pass a bill before the year's end. He faces a number of challenges, however, that could keep the Senate from catching up with the House. Read more.  ...
More >>

©Arizona Republic 2009  When foreclosure homes come up for public auction in Phoenix, a minimum opening bid is set and bidding is open to anyone.  At least that is the way it's supposed to work.  But a Republic investigation into the daily public auctions held on the Maricopa County Courthouse steps and at some local law offices suggests a growing number of homes are sold for less than the posted opening bid. Read more. ...
More >>

© Associated Press 2009   The Arizona Legislature on Thursday unexpectedly extended its special session into a second week after the Senate narrowly rejected a bill to cut funding for schools and social services when majority Republicans came up one vote short.  After a floor session marked by long delays and other signs of disarray among majority Republicans, the Senate adjourned until Monday. The House, which was waiting to vote after the Senate, then also adjourned.  The special session began Tuesday and had been expected to conclude Thursday with passage of Republican bills to trim the state's projected $2 billion budget shortfall by approximately $452.4 ...
More >>

An administrative law judge in Phoenix has recommended that Arizona Public Service Co. be granted the electricity rate increase it has been seeking since March 2008. This ruling is advisory only.  The Arizona Corporation Commission will make the final decision on the rate hike. The five-member commission has tentatively scheduled hearings to begin Dec. 7. ...
More >>

© USA Today 2009   After months of haggling, the U.S. Senate finally has a health care reform bill ready for action, but there still is no guarantee the Democrat-drafted proposal — President Barack Obama's top domestic agenda item — will be debated in the upper chamber, let alone reach a vote.  The Senate hopes to decide on Saturday whether to move the bill to the floor for debate. The House of Representatives, meanwhile, has already passed its version of reform, leaving forward movement on overhauling the system solely in the hands of the Senate. More >>

© HeraldTribune.com 2009   Untold millions of dollars that banks could have recovered from the sale of distressed Florida homes have instead been pocketed as profits by a new breed of property flipper.  These flippers target houses on the verge of foreclosure and persuade banks and mortgage companies to accept lowball buyouts, sometimes by using questionable appraisals and not disclosing that a quick sale at a higher price has already been arranged, experts say. Read more.    ...
More >>

© CNN 2009   Only a tiny percentage of troubled homeowners have received permanent modifications under President Obama's foreclosure prevention plan, raising concerns about the effectiveness of the $75 billion effort. Fewer than 5% of the trial modifications on loans owned or guaranteed by Freddie Mac were converted to long-term adjustments as of Sept. 30, according to the mortgage finance giant. Read more. ...
More >>

© The Arizona Republic 2009An administrative law judge has recommended that Arizona Public Service Co. be granted a rate hike the company has been seeking since March 2008.  The five elected Arizona Corporation Commissioners will make the final decision on the rate hike and have tentatively scheduled hearings to begin Dec. 7. Read more.  ...
More >>

© KY3 2009 A statewide group is trying to head off a tax currently collected in 37 states but not Missouri. It's considered a pre-emptive strike against a tax that could hit you if you sell your home.  It's called the real estate transfer tax -- and Missouri real estate agents call it unfair double taxation. That's why they're getting behind a ballot initiative to change the constitution to bar it from ever coming to Missouri.  Ricky Fuentes just became a new homeowner in the quiet community of Clever. If this 21-year-old lived in one of the states currently collecting a real estate transfer tax, agents said his move might hav ...
More >>