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REAL ESTATE
December 12, 2004 | From Times wire reports
Too many house-rich Americans are borrowing money against their homes to play the stock market, the regulator of brokerages warned Wednesday. In an alert to brokers, the NASD, formerly the National Assn. of Securities Dealers, reminded Wall Street that it has a responsibility to steer investors away from unsuitable financial strategies and to make sure they understand that their homes are at risk if investment returns do not cover new mortgage or line-of-credit obligations.
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BUSINESS
May 24, 2012 | By Alejandro Lazo, Los Angeles Times
Even as a tentative housing recovery in the Southland appears underway, a big stumbling block remains: the vast number of underwater homeowners. Nearly 1 in 3 homeowners with a mortgage in Los Angeles County owes more on the loan than the property is worth, according to fresh data from real estate website Zillow. In the hard-hit Inland Empire, that climbs to more than half of borrowers. In roughly 10% of Southern California cities, 1 of every 5 homeowners with a mortgage owes double the value of the house, according to the data, released Wednesday.
CALIFORNIA | LOCAL
September 14, 1999
The Neptune Society Inc., Burbank, announced it has completed an equity financing of $7 million with Standard Securities Capital Corp., Toronto, Ontario, and facilitated by BG Capital. This financing was priced at $6 per share with no warrants attached. The Neptune Society is a cremation services company.
CALIFORNIA | LOCAL
March 6, 2001
B3 Corp. of Burbank, founded by Warner Music Group, has received equity investments from Wells Fargo & Co. and Zilkha Capital Partners. The investment is in the form of preferred stock pursuant to a share capital increase. B3 provides online business services for financial institutions, Web portals and large corporations.
BUSINESS
July 26, 2006 | From Reuters
A rush of multibillion-dollar corporate buyouts has catapulted the volume of private equity deals to their highest level on record, data show. Monday's deal by three private equity firms to acquire HCA Inc., the No. 1 U.S. hospital chain, for $21.3 billion helped lift the total volume of deals so far this year to $373 billion, financial data provider Dealogic said Tuesday. That's already higher than the full-year total for 2005 and higher than any other year on record.
REAL ESTATE
July 18, 2004 | From Times staff and wire reports
The potential for consumers to tap home equity remains substantial. In a nationwide survey released last week, 58% of homeowners said they had never had a home equity loan or credit line and had never considered applying for one. In addition, 56% of homeowners surveyed said they would not consider using home equity to consolidate debt.
REAL ESTATE
June 12, 2005 | From Times wire reports
California homeowners have enjoyed a $1-trillion increase in home equity since 2000, according to a new report by the California Building Industry Assn. Those who owned a single-family home since 2000 reaped a median equity gain of $230,386, while condominium owners enjoyed a median gain of $200,544.
BUSINESS
November 2, 2005 | From Bloomberg News
U.S. homeowners will turn a record $204 billion of real estate equity into cash this year by refinancing mortgages at higher balances to tap gains in rising property values, a report showed. "Cash-out refis," in which homeowners borrow more money as the value of their property rises, will climb from $142 billion in 2004 and $146.9 billion in 2003, according to a report issued by McLean, Va.-based Freddie Mac.
BUSINESS
December 9, 2004 | From Reuters
Too many house-rich Americans are borrowing money against their homes to play the stock market, brokerages regulator NASD warned Wednesday. In an alert to brokers who may be encouraging the trend, the NASD reminded Wall Street that it had a responsibility to steer investors away from unsuitable financial strategies. "Many homeowners have become wealthier -- at least on paper -- because of escalating home values.
NEWS
March 17, 1998 | CECILIA BALLI, TIMES STAFF WRITER
A former employee of a lending company on Monday provided a congressional panel with a detailed account of how he lured non-English speakers, racial minorities and the elderly into signing away their homes by taking on big loans that promised low monthly payments.
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