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U.S. foreclosures hit all-time high

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Home foreclosures jumped to an all-time high during the third quarter. A quarterly report released today from The Mortgage Bankers Association said that the percentage of mortgages nationwide jumped to a record high of 0.78 percent during the July-to-September period, beating the previous high mark of 0.65 percent from the second quarter. The delinquency rate… Continue Reading U.S. foreclosures hit all-time high

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Free webcast about IRS Form 990

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Accounting firm BKD is hosting a free webcast tomorrow to discuss proposed changes for the Internal Revenue Service’s Form 990, the annual form required to maintain tax-exempt status. Register online to attend the webcast, which is titled “Tax Topics for Exempt Organizations.”

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The El Paso County Assessor’s Office has changed the El Paso County DS056 (Regular Business) and DS060 (Lessor Business) forms for the 2008 tax year. The changes are expected to make it easier for a business owners to complete and submit the forms. Taxpayers owning more than $2,500 in total actual value of personal property… Continue Reading Assessor’s Office changes personal property declaration forms

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Compass index portends slowing economic growth

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The Compass Bank Colorado Business Leaders Confidence Index dipped from 55.6 to 47.9 for the fourth quarter of 2007.
National economic performance, along with pessimism about hiring and capital expenditures, drove the index to a record low. Continue Reading Compass index portends slowing economic growth

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The Mission Trace shopping center might soon receive an additional face lift.
Key Community Development New Markets LLC, a subsidiary of KeyCorp, was one of 61 recipients to be granted a $100 million allocation of new markets tax credits from the U.S. Treasury Department. Continue Reading Treasury Dept. selects Key for tax credit distribution

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Less than half of small-business employers believe retirement plans are crucial to attracting quality employees – but that’s not what the employees believe. Less than 40 percent of small-business employers responding to a study said retirement plans are crucial for attracting employees, but 60 percent of responding employees said such plans are an important factor.… Continue Reading Bosses, employees not seeing eye to eye on retirement plans

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The Vectra Bank Colorado Small Business Index registered 95 during October, up from a revised 93 in September, thanks to unanticipated national economic strength, according to Vectra Bank’s corporate economist, Jeff Thredgold.
“The single biggest contributor to the two-point jump in the Colorado SBI was the unexpected strength in U.S. gross domestic product growth last quarter,” Thredgold said. “Lower borrowing costs and increased labor availability in Colorado were also factors.” Continue Reading Boost likely for Colorado’s small business sector

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The level of outstanding commercial and multifamily mortgage debt grew by 3.4 percent during the second quarter of this year, according to the Mortgage Bankers Association’s Federal Reserve Board Flow of Funds data. The 3.4 percent increase brings the total debt to about $3.1 trillion, an increase of $103.8 billion from the first quarter. Multifamily… Continue Reading Commercial investments grow 3.4 % in third quarter

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The age requirement to qualify for a reverse mortgage keeps getting younger. Melville, N.Y.-based Lender Lead Solutions has introduced Simple60, a new reverse mortgage product available to homeowners aged 60 and older. Reverse mortgages offered to date have required that borrowers be at least 62 years old. And couples applying for a reverse mortgage must… Continue Reading 60 is the new 62 for reverse mortgage standards

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Mortgage applications show slight rise

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Mortgage application volume increased 5.5 percent last week, according to the Mortgage Bankers Association’s weekly application survey. The MBA’s mortgage application index rose to 707.3, from 670.6 the previous week. The survey provides a snapshot of mortgage lending activity among mortgage bankers, commercial banks and thrifts. It covers about 50 percent of all residential retail… Continue Reading Mortgage applications show slight rise

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