The Motley Fool - The headline to this story practically writes itself, which makes it hard to pick just one. To sum up the latest celebrity financial foible, here are three other titles that didn't quite make the cut:
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AP - Lawmakers are taking aim at the Obama administration's struggling mortgage assistance program, with Republicans calling it a worthless exercise and Democrats saying it doesn't go far enough.
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AP - Rates for 30-year home loans rose above the 5 percent threshold for the first time in three weeks, but remained near historically low levels.
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AP - New signs emerged Wednesday that the economic rebound is sputtering. Sales of new homes hit a record low last month. And mortgage giant Freddie Mac signaled it will need more federal aid — and might never repay it.
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AP - The Obama administration will wait until 2011 to propose an overhaul of mortgage giants Fannie Mae and Freddie Mac, Treasury Secretary Timothy Geithner said Wednesday, arguing that he wanted to put some distance between a new system and what he called "the worst housing crisis in generations."
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Reuters - Sales of new homes unexpectedly fell to a record low in January while demand for loans to buy homes hit a 13-year low last week, fanning fears of renewed weakness in the housing market.
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AP - LOSSES CONTINUE: Mortgage finance company Freddie Mac said Wednesday that it lost $7.8 billion, or $2.39 a share, in the fourth quarter of last year. That was down from $23.9 billion, or $7.37 a share, in the same quarter a year ago.
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AP - Freddie Mac lost almost $26 billion last year, ominous news for taxpayers who are footing the bill to rescue the mortgage finance company and its sibling Fannie Mae.
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AP - Fannie Mae plans to take a $5 billion charge when its reports its fourth quarter results later this week because the government blocked its plan to sell tax credits.
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U.S. News & World Report - The real estate market continued to heal in the final three months of 2009, as lower home prices, cheap mortgage rates, and a federal tax credit worked to juice demand. The development was visible in the S&P/Case-Shiller home price report released Tuesday, which found that the rate of annual home price declines improved again in the fourth quarter. Prices at the national level fell just 2.5 percent in the fourth quarter of 2009, compared with a year earlier. ...
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