5 Articles match "Chicago","January","Real Estate"

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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 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 . Still, he ended on a positive note: "All that said, given the fundamental factors in place that should support the demand for housing, we believe the effect of the troubles in the subprime sector on the broader housing market will likely be limited, and we do not expect significant Bernanke talked extensively about how he believes the Federal Reserve Board should respond to rising foreclosures — specifically in the subprime mortgage market.
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. RealtyTrac wants to know. Posted 01-11-2008 11:33 AM by Octavion 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
    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 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
    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 . Still, he ended on a positive note: "All that said, given the fundamental factors in place that should support the demand for housing, we believe the effect of the troubles in the subprime sector on the broader housing market will likely be limited, and we do not expect significant Bernanke talked extensively about how he believes the Federal Reserve Board should respond to rising foreclosures — specifically in the subprime mortgage market.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • 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. Illinois House Bill 4050, a pilot program for 10 Chicago zip codes that was enacted in September 2006, was suspended by Gov. Called The Mortgage Reform and Anti-Predatory Lending Act of 2007, the bill ( H.R. 3915 ) claims to "amend the Truth in
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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