5 Articles match "Chicago","Houses","January"

• The Best from RealtyTrac

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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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• Recession Risk Rising
  
  We can’t take growth for granted,” Bush said last week in Chicago, acknowledging that “recent economic indicators have become increasingly mixed.” Speculation is mounting that Bush could unveil a stimulus package for the economy in his annual State of the Union address which he is due to deliver on January 28. interest rate cuts may be needed to shore up economy in the face of a prolonged housing slump. Amid fears the economy could be slipping into a recession , President George W. Bush abandoned his usually sunny rhetoric last week and painted a darker picture of
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• 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 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 of legislative
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Bernanke: Free Market Can Curb Foreclosures
  
  In remarks he made yesterday in Chicago, Federal Reserve Board Chairman Ben S. His conclusion echoes the conclusion this blog came to back in January in a post titled Defaults Drive Subprime Lending Restraint . Bernanke was not overly optimistic about the near-term future of the housing market, pinpointing the "cooling of the housing market" as a major contributor to the economys slowdown in 2006. Bernanke talked extensively about how he believes the Federal Reserve Board should respond to rising foreclosures — specifically in the subprime mortgage market. His
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Mortgage Reform to Calm Foreclosure Storm
  
  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. The White House issued a Statement of Administration Policy on H.R. Called The Mortgage Reform and Anti-Predatory Lending Act of 2007, the bill ( H.R. 3915 ) claims to "amend the Truth in Lending Act to reform consumer mortgage practices and provide accountability
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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