5 Articles match "Chicago","Lending"

• The Best from RealtyTrac

  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
• 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 . We cited the story of one subprime lender that was tightening its lending guidelines because of purely market forces — namely it was losing a lot of money because of the high default rate of some of its loans. 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
• How Can Financially-Troubled Homeowners Prevent Foreclosure?
  
  Remember, banks are in the money-lending business, not real estate. If you can’t reach your lender or they are making unreasonable financial demands from you, consider contacting a local community group. 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
  www.foreclosurepulse.com - Tuesday, December 16, 2008
  READ MORE
• Mortgage Reform to Calm Foreclosure Storm
  
  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 for such practices, to establish licensing and registration requirements for residential mortgage originators, to provide certain minimum standards for consumer mortgage loans, and for other purposes." Prohibits lending without due regard to repayment ability. 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
• Mayors Predict Rising Foreclosures in 2008
  
  billion, Dallas and Washington at $4 billion each, and Chicago at $3.9 hear that a lot of homeowners in foreclosure have a hard time finding out who to speak with at the lending institutions. Mounting home foreclosures will lead to “profound” effects on the economy next year, bleeding billions of dollars in lost tax revenues, shrinking job growth and reducing consumer spending in the nation’s major metropolitan areas, according to a new report released this week by the U.S. Conference of Mayors .
  www.foreclosurepulse.com - Tuesday, December 16, 2008
  READ MORE