5 Articles match "Chicago","May"

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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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• 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.” 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 the economy’s condition. “We
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Foreclosures Fade in World Series Spotlight
  
  Detroit’s Wayne County reported 4,190 properties entering foreclosure in September, the second most only behind Chicago’s Cook County (whose fans didn’t have any team to cheer in the playoffs this year). If that happens, foreclosure investors willing to take a chance on the city now may be amply rewarded in the not-so-distant future. Posted 10-25-2006 10:30 AM by darenb Filed under: Foreclosure Trends , Real Estate Trend The Detroit Tigers are the feel-good story of this year’s World Series, having made it to baseball’s big dance only three years after posting 119 losses — one of the worst records in history.
  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. For some, the self-correcting pullback may seem too late and too severe. Bernanke conceded that implementing rules, which the Home Ownership Equity Protection Act (HOEPA) gives the Federal Reserve the authority to do, may be necessary in some cases as long as the rules are "drawn sharply, with bright lines and address practices that are never, or almost never, legitimate." 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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• 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 Lending
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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