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The home-mortgage business has exploded in the last two decades with big Wall Street investment firms buying loans in bulk from banks and other lenders, and bundling them into securities to be sold to investors, spreading the risk. It is not too difficult to clear up your credit. The one notable exception is credit cards that have very low ongoing rates, usually defined as being within 2 points of Prime.
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Toll Brothers last week warned that new orders for homes had dropped by 21% in the first quarter so far.