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Banking and Finance

Middle class morass (access required)

House on a stack of U.S. dollars, real estate concept - 3d render

While the Charlotte real estate market remains affordable relative to many other U.S. markets, there is growing evidence that many middle class, professional families cannot afford to buy a home.

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Panelists outline challenges, opportunities for women in business (access required)

While the federal government shutdown is not having a direct impact on Charlotte businesses, it is creating uncertainty in the business community, according to panelists at The Mecklenburg Times Women’s Business Breakfast Forum. “With the shutdown and debate about the debt ceiling, people are waiting to make decisions,” said Natalie Haskins English, senior vice president of public policy for the Charlotte Chamber of Commerce.

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New protections for struggling Nevada homeowners (access required)

A new Homeowner's Bill of Rights, SB 321, aims to eliminate the runaround some homeowners got from banks by requiring lenders to assign homeowners a single person to contact. It bans dual-tracking, in which a bank pursues a foreclosure at the same time a homeowner is working on a short sale. And it eliminates "arm's length" rules, in which banks barred people from buying distressed properties from their relatives or other close associates.

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Foreclosure activity down from last year, but Mecklenburg and York counties see month-over-month spike (access required)

house key

Although foreclosure activity in the Charlotte area has declined over the past year, it jumped up between July and August this year in Mecklenburg and York counties, according to a report issued by RealtyTrac.

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