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Index: Property values continued their rebound into 2013

OXFORD – The latest FNC Residential Price Index (RPI) indicates that U.S. property values continued to recover through January — the 11th consecutive month of rising prices. Despite the uneven pace of price gains across different geographical markets, there are clear signs that the housing recovery is increasingly widespread, according to the Oxford-based mortgage technology company. A limited housing supply ...

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Former contractor's federal bank fraud trial rescheduled

SOUTHAVEN — Former Southaven city contractor James Malcolm Harris Jr., who has business ties to Mayor Greg Davis and was recently indicted on bank fraud charges, has had his federal trial reset for Sept. 9. Harris’ attorney, David Hill, asked the court to delay a March 4 trial, saying they needed more time to prepare the case. The Commercial Appeal ...

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MEMA soliciting landlords in tornado-torn counties

SOUTH MISSISSIPPI — Landlords with available rental properties in Mississippi are urged to contact a housing locator service to list their available rental properties. The Mississippi Emergency Management Agency and the Federal Emergency Management Agency are working together to find housing for those displaced by the recent tornadoes, storms and flooding. In support of that, they encourage Mississippi landlords in ...

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Judge to hear petition to block sand drying plant

POPLARVILLE — A Pearl River County judge has scheduled a hearing tomorrow on a petition from some residents seeking to block development of five acres near the construction site of a sand drying plant in Picayune. The Alliance Consulting Group is locating the plant on 30 acres between Nicholson and Picayune. The $30-million plant would service the oil industry, and ...

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Ex-city contractor asks for more time to prepare defense

OXFORD — Former Southaven city contractor James Malcolm Harris Jr., who was recently indicted on bank fraud charges, has requested that his March 4 trial be postponed to give his attorney enough time to prepare for the case. The Commercial Appeal reports Harris’ attorney, David Hill, filed a motion for a continuance on Feb. 15 in federal court in Oxford. ...

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FNC report: Housing market should continue to improve

OXFORD — Though home foreclosures continue to be a challenge in many hard-hit markets, a report released by mortgage technology company FNC indicates the ongoing housing recovery should continue for the long haul. According to FNC’s Foreclosure Market Report, foreclosure prices have bottomed out in recent months and the foreclosure market has stabilized while underlying home values are rising. Foreclosure ...

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Bill passes giving home inspector oversight to real estate industry

JACKSON — The state Senate has unanimously approved a bill to give the real estate business oversight over home inspectors in Mississippi. That would put the people most interested in selling homes in charge of regulating and licensing those who are supposed to warn consumers away from houses with major problems, home inspectors tell The Clarion-Ledger. “Is this in the ...

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FNC index shows U.S. home prices still rising

OXFORD — The latest FNC Residential Price Index (RPI) shows continuing momentum in the U.S. housing market with home prices rising to a two-year high in December. Despite an unexpected deceleration in economic growth, the ongoing housing recovery has maintained its pace with steady gains in home prices, sending the index up 5.4 percent year to date. A stabilizing foreclosure ...

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Judge rules in defective Chinese drywall lawsuit

NEW ORLEANS — A federal judge has approved five class-action settlements that call for a Chinese drywall manufacturer and others to pay hundreds of millions of dollars to repair homes damaged by the product, attorneys for thousands of Gulf Coast property owners said. U.S. District Judge Eldon Fallon in New Orleans held a hearing in November to help him gauge ...

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Appeals panel upholds mortgage fraud convictions

RIDGELAND — A federal appeals panel has upheld the conviction of three people in a Mississippi mortgage fraud scheme that involved more than $10 million in fraudulent loans. Former Ridgeland mortgage broker Mark Calhoun and father-and-son associates J. Larry Kennedy and Keith Kennedy, who operated a mortgage loan closing business, had appealed their 2010 convictions. Calhoun was sentenced to more ...

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