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13 houses razed in Barrio Luz fire  Fire razed at least 13 houses in sitio Cabantan, barrio Luz, Cebu City at 7 p.m. yesterday. Based on the initial investigation by the Cebu City Fire Department, the fire started at the house of a certain Flor and spread to adjacent houses. No one was reported injured.

City To Consider Changing Land Sale Ordinance  From P&D Staff Reports The Yankton City Commission will introduce an ordinance amendment Monday that would change the requirements for the sale of city real estate.

Washington Readies Sea Change for Wall Street  The Bush administration yesterday raised the price tag on its emergency plan to revive the U.S. financial system, asking Congress for authority to spend up to $700 billion to relieve crippled financial institutions of their mortgage-based assets, an investment that would exceed the current cost of...

White House asks Congress for $700 billion mortgage bailout  The Bush administration on Saturday asked Congress for $700 billion in taxpayer money to get bad mortgage assets off the books of troubled financial institutions in a bid to end the U.S. economy's most serious financial crisis since the Great Depression, according to a draft of proposed legislation circulating in the capital.

Brickell View developer scraps condo tower for smaller hotel  A hotel development company that recently purchased a prime block of Brickell real estate scrapped a previous developer's plans for a 29-story 277-unit condo tower and decided instead to build a Hampton Inn & Suites.

310 N.Y. committees owe penalties for missing expenditure reports  More than 300 campaign and political action committees owe the state's Board of Elections penalties and fees for not submitting expenditure reports.

Short-sale ban could have unintended consequences: Journal  U.S. and U.K. regulators may have restricted short sales, but investors have other tools to protect themselves from falling share prices, The Wall Street Journal reported.

Lennar to hold Great American Dream Home sale this weekend  Lennar is inviting all prospective homebuyers to "Live the American Dream" Sept. 20 and 21 at their premiere Great American Dream Home Sale, where buyers can take advantage of dream pricing, dream financing through Universal American Mortgage Co. and dream inventory, including 23 special showcase homes with upgraded landscaping and designer interior finishes.

Companies step in after foreclosures put families elsewhere  Michigan's glut of foreclosed homes means green for the companies that maintain these properties. Five Brothers Mortgage Co. in Warren, which offers banks upkeep services on foreclosed homes, has seen its business triple in the last five years.

Reuters Business Summary   Congress examines $700 billion market bailout plan WASHINGTON - The Bush administration asked Congress on Saturday for $700 billion to bail out firms burdened with bad mortgage debt, seeking extraordinary authority as it tackles the worst financial crisis since the Great Depression. Democratic lawmakers, who control both houses of Congress, said they hoped to approve the ...

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