3 Articles match "2007","Chicago"

The Latest 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. But opponents
www.foreclosurepulse.com - Tuesday, December 16, 2008
READ MORE
Governor Suspends Controversial Law Affecting Investors
But House Bill 4050 (renamed Public Act 94-280) is now null and void, which should be a relief to real estate investors and prospective homebuyers looking for bargain property in south Chicago . Rod Blagojevich suspended the law on January 19, 2007. Although its intent was to reduce foreclosures in certain blighted areas in Chicago, the law stirred up a public outcry from the It was controversial when it took effect, and it remained controversial until public officials decided enough was enough – roughly a little more than a year later. Responding to the public outcry
www.foreclosurepulse.com - Tuesday, December 16, 2008
READ MORE
Mortgage Reform to Calm Foreclosure Storm
Called The Mortgage Reform and Anti-Predatory Lending Act of 2007, the bill ( H.R. Illinois House Bill 4050, a pilot program for 10 Chicago zip codes that was enacted in September 2006, was suspended by Gov. Although foreclosure filings in Cook County increased from the third quarter to the fourth quarter of 2006, foreclosure activity in the third quarter of 2007 is down 5 percent from a year ago. In an attempt to address the recent downturn in the real estate market — evidenced by rising foreclosures and falling home prices and which many believe may threaten to undermine the overall economy — the House of Representatives yesterday passed a bill that imposes more stringent regulatory oversight of the mortgage industry.
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. But opponents
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • Governor Suspends Controversial Law Affecting Investors
    But House Bill 4050 (renamed Public Act 94-280) is now null and void, which should be a relief to real estate investors and prospective homebuyers looking for bargain property in south Chicago . Rod Blagojevich suspended the law on January 19, 2007. Although its intent was to reduce foreclosures in certain blighted areas in Chicago, the law stirred up a public outcry from the It was controversial when it took effect, and it remained controversial until public officials decided enough was enough – roughly a little more than a year later. Responding to the public outcry
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • Mortgage Reform to Calm Foreclosure Storm
    Called The Mortgage Reform and Anti-Predatory Lending Act of 2007, the bill ( H.R. Illinois House Bill 4050, a pilot program for 10 Chicago zip codes that was enacted in September 2006, was suspended by Gov. Although foreclosure filings in Cook County increased from the third quarter to the fourth quarter of 2006, foreclosure activity in the third quarter of 2007 is down 5 percent from a year ago. In an attempt to address the recent downturn in the real estate market — evidenced by rising foreclosures and falling home prices and which many believe may threaten to undermine the overall economy — the House of Representatives yesterday passed a bill that imposes more stringent regulatory oversight of the mortgage industry.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE