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First-time homebuyers seizing opportunity

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WASHINGTON (AP) – Sales of previously occupied homes jumped unexpectedly in February by the largest amount in nearly six years as first-time buyers took advantage of deep discounts on foreclosures and other distressed properties. Economists said sales, while still at levels not seen since 1997, may finally be coming back to life after declining sharply… Continue Reading First-time homebuyers seizing opportunity

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Obama seeks to free frozen credit markets

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WASHINGTON (AP) – The Obama administration launched a new effort Monday to end a paralysis in lending, saying it will team with investors to initially buy up to a trillion dollars of bad assets from banks that have been reluctant to make loans to consumers and companies. In announcing the program, Treasury Secretary Timothy Geithner… Continue Reading Obama seeks to free frozen credit markets

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Most people think an ATM transaction will be denied if the account has insufficient funds, but that’s not always the case. Many consumers are not aware the banks will often allow withdrawals when the money is not there – and customers later find that they’ve been hit with an overdraft or insufficient funds fee. It’s easy money… Continue Reading Consumers Union trying to change overdraft fee practices

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Chase bank is moving its downtown headquarters from the corner of Pikes Peak Avenue and Tejon Street four blocks north to its branch at Boulder and Tejon streets. The move will also mean a $4 million facelift for the Boulder branch. Chase market president John Kitchen said a need for more parking space and drive-thru… Continue Reading Chase leaving ‘banking’ intersection for greener parking pastures in north downtown

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(A.P.) – A more severe decline in cash flow than previously expected has led to a lowering of debt ratings deeper into junk for newspaper publishers MediaNews Group Inc. and Freedom Communications Inc. MediaNews Group publishes the Denver Post, while Freedom is the parent of the Colorado Springs Gazette. Standard & Poor’s Ratings Services on… Continue Reading S&P lowers debt ratings for owners of Gazette and Denver Post

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Interest rates cannot go lower, and home prices are down these days. So, if you’re purchasing a home this year, be sure to claim the new $8,000, first-time homebuyer tax credit, which is part of the Recovery Act. Internal Revenue Service Commissioner Doug Shulman said there are several different ways for homebuyers to receive this… Continue Reading Recovery Act allows $8,000 first-time homebuyer tax credit

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Pueblo approves Southern Delivery System

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Last night, after a three hour hearing, The Pueblo County Commissioners voted unanimously to approve Colorado Springs’ proposed Southern Delivery System, which will deliver water from Pueblo Reservoir to Colorado Springs. The $1.2 billion project, which will also benefit Pueblo West and Fountain, was approved subject to a long list of conditions. The most significant… Continue Reading Pueblo approves Southern Delivery System

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USOC cuts budget, 54 jobs

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The United States Olympic Committee has begun reducing its 2009 operating budget by $7.1 million, which will mean the elimination of 54 jobs. Officials say the budget reduction – from $142.6 million to $135.5 million – is necessary because of the economic downturn. The reductions represent more than 10 percent budget that is not allocated… Continue Reading USOC cuts budget, 54 jobs

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Downtown nightclub cited for breast of show

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Owners of 13 Pure Nightclub and Bistro, 217 E. Pikes Peak Ave., could have their tavern liquor license revoked if they’re found guilty of allowing female nudity and breast fondling. Owners or the “liquor licensee” of the club are scheduled to appear before the city liquor licensing board at 9 a.m. Friday, March 20, at… Continue Reading Downtown nightclub cited for breast of show

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The Small Business Administration will host an online chat at 11 a.m. tomorrow about how small companies can cash in on the economic stimulus legislation. SBA Associate Administrator Eric Zarnikow will host the chat. Participants can go to www.sba.gov and click on the Online Business Chat icon. Questoins can be submitted there. As a result… Continue Reading SBA stimulus chat tomorrow

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