Fed nominee has Senate hearing today...Fewer homes complete foreclosure as investors buy at auctions

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Associated Press

Posted on November 14, 2013 at 6:01 AM

Updated Thursday, Nov 14 at 6:00 AM

WASHINGTON (AP) — Janet Yellen is expected to get a workout today during a Senate hearing on her nomination to lead the Federal Reserve. Skeptical Republicans say the Fed's policies may be swelling asset bubbles or raising the risk of high inflation. In testimony prepared for the hearing, Yellen expresses support for the Fed's economic stimulus effort.

LOS ANGELES (AP) — There appears to be a growing appetite among investors for buying homes before they exit the foreclosure process and end up on the market. The foreclosure listing firm RealtyTrac says fewer U.S. homes are completing the foreclosure process because investors are increasingly buying up properties at auction. Some 37,775 homes nationwide completed the foreclosure process in October, down 29 percent from last year.

TACLOBAN, Philippines (AP) — As stricken areas begin burying their dead, the Philippines now faces the monumental task of providing for some 11.5 million people affected by a killer typhoon. Aid is starting to reach some of the more than half a million people displaced by the storm. Authorities say 2,357 people are confirmed dead but it could go much higher.

SEATTLE (AP) — Boeing machinists in the Northwest have rejected decades of job security in exchange for concessions on pensions and health care. Workers would have received a $10,000 signing bonus if they approved the deal. The action could mean production of Boeing's next generation 777 plane could go to another state.

COLUMBUS, Ohio (AP) — Cursive, or handwriting, is becoming an endangered practice and there's a movement emerging to keep it from happening. When the new Common Core educational standards were crafted, classes in penmanship, which once distinguished the literate from the illiterate, were dropped. But at least seven of the 45 states that adopted the standards are fighting to restore cursive instruction.

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