The ripped-off buyer reluctantly signed, says Deerfield Beach, Fla. loan broker Elise Altergott, who handled his refinancing.

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Stories of rescues were of little comfort for Len Gengel of Deerfield Beach, Florida, whose daughter was feared trapped in the Montana Hotel, a five-story structure that pancaked in the quake.

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"This is a real positive for the entire marketplace, and hopefully this is the first sign that credit markets will open up, " says Jack McCabe, an independent housing analyst in Deerfield Beach, Fla.

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