5 Articles match "Chicago","January"

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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. But opponents
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 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
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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 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 free market: "Credit market innovations have expanded opportunities for many households.
www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • 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
  • 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. 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 the economy’s condition. “We
    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 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
  • 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 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 free market: "Credit market innovations have expanded opportunities for many households.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • Mortgage Reform to Calm Foreclosure Storm
    Illinois House Bill 4050, a pilot program for 10 Chicago zip codes that was enacted in September 2006, was suspended by Gov. Rod Blagojevich in January of this year after receiving criticism for discriminating against minority homeowners and homebuyers. 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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