3 Articles match "2006","Illinois","Properties"

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Legislating Lower Foreclosure Rates?
An Illinois law intended to help reduce foreclosures is drawing cries of discrimination from some of the people it is trying to protect, according to the Chicago Defender newspaper. “Nearly 60 days after Illinois House Bill 4050 went into effect to supposedly protect consumers from predatory lenders, a coalition of Black and Latino city residents say the new law is actually destroying property values in select minority communities.” The law is a pilot program that is being applied in 10 Chicago zip codes chosen for their high foreclosure rates, among other factors.
www.foreclosurepulse.com - Tuesday, December 16, 2008
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Foreclosure Filings Soar 90 Percent
Certainly not every community nationwide is seeing an increase in foreclosures, but foreclosed properties are becoming more commonplace and adding to the downward pressure on home prices in many areas.” Meanwhile, the Mortgage Bankers Association, in its quarterly snapshot of the mortgage market released today, reported that the percentage of payments that were 30 or more days past due for one-to-four unit residential properties was 4.84 A growing number of American homeowners across the country are getting foreclosure notices, according to new data released this week by RealtyTrac.
www.foreclosurepulse.com - Tuesday, December 16, 2008
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FBI: Mortgage Fraud Begets Foreclosure
The FBI recently came out with its 2006 Mortgage Fraud Report , which somewhat anticlimactically concludes that there is “a strong correlation between mortgage fraud and loans which result in default or foreclosure.” The correlation is apparent in the report’s list of the top states for mortgage fraud: California, Florida, Georgia, Illinois, Indiana, Michigan, New York, Ohio, Texas, and Utah. Six of those states also appeared in RealtyTrac’s list of states with the highest foreclosure rates in 2006. The FBI also lists Arizona, Colorado, Maryland, Minnesota, Missouri, Nevada,
www.foreclosurepulse.com - Tuesday, December 16, 2008
READ MORE
  • The Best from RealtyTrac MORE
  • Legislating Lower Foreclosure Rates?
    An Illinois law intended to help reduce foreclosures is drawing cries of discrimination from some of the people it is trying to protect, according to the Chicago Defender newspaper. “Nearly 60 days after Illinois House Bill 4050 went into effect to supposedly protect consumers from predatory lenders, a coalition of Black and Latino city residents say the new law is actually destroying property values in select minority communities.” The law is a pilot program that is being applied in 10 Chicago zip codes chosen for their high foreclosure rates, among other factors.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • FBI: Mortgage Fraud Begets Foreclosure
    The FBI recently came out with its 2006 Mortgage Fraud Report , which somewhat anticlimactically concludes that there is “a strong correlation between mortgage fraud and loans which result in default or foreclosure.” The correlation is apparent in the report’s list of the top states for mortgage fraud: California, Florida, Georgia, Illinois, Indiana, Michigan, New York, Ohio, Texas, and Utah. Six of those states also appeared in RealtyTrac’s list of states with the highest foreclosure rates in 2006. The FBI also lists Arizona, Colorado, Maryland, Minnesota, Missouri, Nevada,
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • Foreclosure Filings Soar 90 Percent
    Certainly not every community nationwide is seeing an increase in foreclosures, but foreclosed properties are becoming more commonplace and adding to the downward pressure on home prices in many areas.” Meanwhile, the Mortgage Bankers Association, in its quarterly snapshot of the mortgage market released today, reported that the percentage of payments that were 30 or more days past due for one-to-four unit residential properties was 4.84 A growing number of American homeowners across the country are getting foreclosure notices, according to new data released this week by RealtyTrac.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE