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N.Y. Fed begins purchasing mortgage securities - 1 day ago - NEW YORK The Federal Reserve Bank of New York said today it has begun purchasing mortgage-backed securities in an effort to bolster the battered housing market. The program, initially announced Nov. 25, allows the Fed to spend 500 0133 : Pioneer Press

GMAC to keep making home loans - 12/29/2008 - GMAC's mortgage-lending unit will continue to make home loans after the company receives a promised 6 billion federal bailout. We will continue to originate mortgage products that can move in the secondary market, GMAC spokeswoman Gina 0133 : Minneapolis Star Tribune

Credit crunch shows little sign of easing - 2 hours ago - Reporter Mark Trumbull discusses how the credit crunch is making it harder but not impossible for everyone from homeowners to large corporations to get a loan. In the aftermath of a historic lending boom, a key challenge for America in 0133 : Christian Science Monitor

Leading Democrat Offers Mortgage Aid Bill - 2 hours ago - The second-ranking Democrat of the U.S. Senate on Tuesday introduced legislation that would let bankruptcy judges erase some mortgage debt in an effort to stem foreclosures. The bill drafted by Sen. Richard Durbin would help millions of 0133 : Post Chronicle

Lyondell, U.S. Chemical Maker, Files Bankruptcy Update2 - 3 hours ago - Jan. 6 Bloomberg Lyondell Chemical Co. , an affiliate of LyondellBasell Industries AF SCA, one of the world s largest closely held chemical producers, filed for bankruptcy protection in New York. Lyondell Chemical, based in Houston, 0133 : Bloomberg

Marbella s Billionaire Spent Bribes on Tiger-Guarded Stud Farm - 3 hours ago - Jan. 7 Bloomberg As an urban planning adviser in the sun- drenched Spanish resort town of Marbella, Juan Antonio Roca had after- tax income of less than 150,000 euros a year. When he was arrested for corruption in March 2006, police 0133 : Bloomberg

Gov't projects 6.5M in bailout costs through Jan. - 3 hours ago - WASHINGTON AP The government estimated Tuesday that it will spend 6.5 million by the end of January in salaries and other administrative costs for the 700 billion financial rescue program. The Treasury Department estimate was part of 0133 : Associated Press

Property owners see value of homes falling survey - 5 hours ago - PROPERTY owners are expecting the value of their homes to decline in the next quarter, according to a survey conducted jointly by the Mortgage and Finance Association of Australia and BankWest. About 60 per cent of the 700-plus respondents 0133 : The Australian