2 Articles match "2008","Illinois","Prepayment"

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As Foreclosures Mount, Candidates React to the Credit Crisis
With mortgage foreclosures at historic highs, Democrats and Republicans are fighting over a political issue that could have major implications in the 2008 presidential campaign. Meanwhile, the rising flood of foreclosures promises to become a major presidential campaign issue in the weeks and months ahead because an alarming 2 million American homeowners could lose their homes by November 2008. Sensing an opportunity to win votes, the major presidential candidates have come out swinging; proposing a variety of prescriptions to ease the worsening housing slump.Both the White House and Democrat leaders in Congress agree that something must be done to stop the foreclosures.
www.foreclosurepulse.com - Tuesday, December 16, 2008
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Mortgage Reform to Calm Foreclosure Storm
Revises requirements governing prepayment penalties. Illinois House Bill 4050, a pilot program for 10 Chicago zip codes that was enacted in September 2006, was suspended by Gov. Earlier this month, Blagojevich took another shot at the issue, signing into law a new bill that incorporates many of the provisions of 4050 , but applies to all of Cook County and in some cases all of Illinois. 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
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  • Mortgage Reform to Calm Foreclosure Storm
    Revises requirements governing prepayment penalties. Illinois House Bill 4050, a pilot program for 10 Chicago zip codes that was enacted in September 2006, was suspended by Gov. Earlier this month, Blagojevich took another shot at the issue, signing into law a new bill that incorporates many of the provisions of 4050 , but applies to all of Cook County and in some cases all of Illinois. 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
  • As Foreclosures Mount, Candidates React to the Credit Crisis
    With mortgage foreclosures at historic highs, Democrats and Republicans are fighting over a political issue that could have major implications in the 2008 presidential campaign. Meanwhile, the rising flood of foreclosures promises to become a major presidential campaign issue in the weeks and months ahead because an alarming 2 million American homeowners could lose their homes by November 2008. Sensing an opportunity to win votes, the major presidential candidates have come out swinging; proposing a variety of prescriptions to ease the worsening housing slump.Both the White House and Democrat leaders in Congress agree that something must be done to stop the foreclosures.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE