5 Articles match "Chicago","Information"

The Latest from RealtyTrac MORE
How Can Financially-Troubled Homeowners Prevent Foreclosure?
Or consider contacting the National Training and Information Center (NTIC) , a Chicago-based nonprofit community network. When you miss several mortgage payments and your lender sends you a notice of default, where do you turn for relief? For the 112,210 Americans who entered the foreclosure pipeline in September, the answer is simple: Talk to your lender at the first sign of trouble.
www.foreclosurepulse.com - Tuesday, December 16, 2008
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New Illinois Housing Law Draws 2nd Suit
Two law suits have been filed against a controversial Illinois law that mandates financial counseling for certain consumers obtaining mortgages or refinancing loans in 10 ZIP code areas in Chicago. The suits — filed by eight consumers and the real estate community — seek to halt the implementation of Illinois House Bill 4050, which took effect September 1. "It's a discriminatory law," said Julie Santos, a Chicago Realtor and co-chair of the Coalition to Rescind HB 4050, a group formed from several community organizations who are collecting signatures in an attempt to repeal the
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 . A statement released by Dean Martinez, Secretary, Department of Financial and Professional Regulation, explained the decision to suspend the law by stating, “the Secretary received and reviewed information that suggests that the prior designation may be detrimental to the Pilot Program’s purpose, namely, to curb predatory lending practices in areas with high rates of foreclosure on residential
www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • The Best from RealtyTrac MORE
  • New Illinois Housing Law Draws 2nd Suit
    Two law suits have been filed against a controversial Illinois law that mandates financial counseling for certain consumers obtaining mortgages or refinancing loans in 10 ZIP code areas in Chicago. The suits — filed by eight consumers and the real estate community — seek to halt the implementation of Illinois House Bill 4050, which took effect September 1. "It's a discriminatory law," said Julie Santos, a Chicago Realtor and co-chair of the Coalition to Rescind HB 4050, a group formed from several community organizations who are collecting signatures in an attempt to repeal the
    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 . A statement released by Dean Martinez, Secretary, Department of Financial and Professional Regulation, explained the decision to suspend the law by stating, “the Secretary received and reviewed information that suggests that the prior designation may be detrimental to the Pilot Program’s purpose, namely, to curb predatory lending practices in areas with high rates of foreclosure on residential
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • How Can Financially-Troubled Homeowners Prevent Foreclosure?
    Or consider contacting the National Training and Information Center (NTIC) , a Chicago-based nonprofit community network. When you miss several mortgage payments and your lender sends you a notice of default, where do you turn for relief? For the 112,210 Americans who entered the foreclosure pipeline in September, the answer is simple: Talk to your lender at the first sign of trouble.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • Bernanke: Free Market Can Curb Foreclosures
    In remarks he made yesterday in Chicago, Federal Reserve Board Chairman Ben S. Bernanke did not rule out using the powers at the governments disposal — disclosure requirements, rules, guidance combined with supervisory oversight, and informal collaboration with the industry — to prevent "fraud and abusive lending and to ensure that lenders employ sound underwriting practices." Bernanke talked extensively about how he believes the Federal Reserve Board should respond to rising foreclosures — specifically in the subprime mortgage market. His conclusion came down in favor of the
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • Mortgage Reform to Calm Foreclosure Storm
    Requires creditors to determine, based on verified and documented information, that a consumer has a reasonable ability to repay the loan, according to its terms, and all applicable taxes, insurance, and assessments. Illinois House Bill 4050, a pilot program for 10 Chicago zip codes that was enacted in September 2006, was suspended by Gov. 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
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