New short-sale program offers relief for underwater homeowners

One of the federal government’s most-important financial relief efforts for underwater homeowners started operating Nov. 1.  Traditionally short sales, where the lender agrees to accept less than the full amount owed and the house is sold to a new purchaser at a discounted price, are associated with extended periods of delinquency by the original owner. …

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Obama’s Investigative Unit: Absolving Iniquities or Slowing Progress?

New York Attorney General Eric Schneiderman has reportedly been designated a co-chair of President Obama’s newly announced investigative team to probe the mortgage industry for past misconduct. In his State of the Union address this week, Obama announced the creation of “a special unit of federal prosecutors and leading state attorneys general” to examine the …

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Preliminary Plans for 5,000 Homes Around the OC Great Park Okayed

The plan submitted by the Aliso Viejo-based developer has parks, shopping areas, trails, a school, police substation and other aspects. IRVINE — Plans for nearly 5,000 new homes ringing the Orange County Great Park won preliminary approval from a divided City Council last week. Irvine officials voted 3 to 2 on Tuesday night to OK …

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John Wayne’s yacht gets historical protection

John Wayne’s beloved yacht, the Wild Goose, now has historical protection. The vessel, anchored in Newport Beach, is now among some 200 boats listed on the National Register of Historic Places. “While our focus has, and perhaps always will be, predominantly on buildings, the programs include a broad spectrum of property types, from archaeological sites …

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