Yahoo - "Fed Taking on Abusive Lending Practices" (12-15-07)

"People taking out home mortgages may gain new protections soon against shady lending practices as the Federal Reserve seeks to back even the riskiest borrowers, already hit hardest by the housing and credit crunches. Rules expected to be proposed Tuesday would apply to loans made by all types of lenders, including banks and brokers. The plan from the Fed, which has regulatory powers over the nation's financial system, could be finalized next year. The effective date would be know then."

Bloomberg - "Dollar Rises to 1-Month High Versus Euro, Yen on Inflation, Fed" (12-15-07)

"The dollar rose to the highest levels in more than a month against the euro and yen as accelerating inflation reduced speculation that the Federal Reserve will lower borrowing costs next year. The dollar gained against the 16 most-actively traded currencies this week after consumer and wholesale prices increased last month. The U.S. currency posted the biggest weekly advance against the euro since August. A government report next week is forecast to show a price gauge closely tracked by the central bank gained in November."

Modbee.com - "Courthouse-step auctions offer 1,336 properties in foreclosure -- 17 are sold" (12-15-07)

"Another foreclosure record was set in November as 1,336 properties were offered to the highest bidder on the courthouse steps in Modesto, Merced and Stockton. Now here's the real surprise: Only 17 of them sold, despite lenders offering deeply discounted prices."

Los Angeles Times - "Sell that house: Seven steps to success" (12-15-07)

"Avoid prices that end in numbers like 55,000 or 80,000. Round to the nearest $25,000: 'The real estate sites used by home buyers typically filter price in $25,000 or $50,000 increments, so a home selling for $350,000 is likely to be seen significantly more than a home selling for $355,00 because the $355,00 home will be excluded by buyers who set $350,000 as their maximum price.'"

Orange County Register - "O.C. rents squeeze tenants" (12-15-07)

"With average Orange County rents at about $1,600 a month, many tenants are scrambling to make ends meet. Some are downsizing. Some are finding roommates, and some, like Groat, are moving in with family or away completely."