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Mortgage repayment plans get careful Print E-mail
Saturday, 09 September 2006
Minister of Finance, Michael Cullen, has announced that savers will be able to divert half of their KiwiSaver contributions to mortgage repayments. This is one of several proposed changes announced to the controversial scheme, whose implementation has been delayed by three months, from April next year to 1 July.
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New York's new real estate rumbles Print E-mail
Saturday, 09 September 2006

The tragedy of the World Trade Center towers instantly erased 15 million square feet of office space  from the New York commercial real estate market.

That sudden reduction is proving to be a boon for New York real estate brokers who are scrambling to find spaces, large and small, for businesses that have been displaced by the 11 September attacks.

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Real investment fund allowed Print E-mail
Saturday, 09 September 2006
NEW DELHI: The Cabinet Committee on Economic Affairs (CCEA) has cleared an investment by HDFC's global real estate fund to invest up to Rs. 3,240 crore in the country. The Mauritius-registered India Offshore Real Estate Investments (IOREI), which is sponsored by HDFC, has been allowed to invest this amount, raised overseas, in units issued by HDFC's International Real Estate Fund (IREF).
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Investment in real estate triggers use of IRA Print E-mail
Saturday, 09 September 2006

How can someone's IRA become a real estate developer?

The answer is simple. They have something called a self-directed IRA. It doesn't matter whether it is a regular IRA, a SEP (self-employed) IRA or a Roth IRA. Any of these could be administered by a trust company that specializes in allowing people to invest their savings in any number of businesses or assets.

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Penalties increase to break on mortgage fraud Print E-mail
Saturday, 09 September 2006

Ontario announced plans to increase mortgage fraud penalties and urged Ottawa to amend the federal criminal code to protect homeowners.

The Liberal government is tabling legislation this fall that raises the maximum penalty for real estate fraud convictions from $1,000 to $50,000, said Government Services Minister Gerry Phillips. He said that the province is also seeking the creation of a national database of real estate fraud cases and urged Ottawa to re-classify the fraud as a separate offence under the federal Criminal Code.

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Penalties increase to break on mortgage fraud Print E-mail
Saturday, 09 September 2006

Ontario announced plans to increase mortgage fraud penalties and urged Ottawa to amend the federal criminal code to protect homeowners.

The Liberal government is tabling legislation this fall that raises the maximum penalty for real estate fraud convictions from $1,000 to $50,000, said Government Services Minister Gerry Phillips. He said that the province is also seeking the creation of a national database of real estate fraud cases and urged Ottawa to re-classify the fraud as a separate offence under the federal Criminal Code.

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