7 Articles match "Chicago","Properties"

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• Foreclosure Spat Brews in Chicago
  
  Foreclosure Spat Brews in Chicago The Wall Street Journal While many banks are taking pains to work out troubled commercial-property loans rather than foreclosing, Bank of America Corp. has lost its patience with a developer who took on a notoriously...( read more
  Foreclosure Pulse - Wednesday, November 18, 2009
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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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• 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.
  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 . Although its intent was to reduce foreclosures in certain blighted areas in Chicago, the law stirred up a public outcry from the get-go due to the pilot program zeroing in on 10 zip codes chosen for their high foreclosure rates, but heavily populated by minority communities — especially African Americans and Hispanics. 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.
  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). 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. The Tigers have given local fans a chance to momentarily forget about another dubious distinction: that they reside in a city with one of the highest foreclosure rates in the nation .
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• How Can Financially-Troubled Homeowners Prevent Foreclosure?
  
  For lenders, foreclosures are costly — often entailing heavy payouts for legal fees, realty brokerage commissions, repairs, property taxes, maintenance and carrying costs. 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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• March Mania and RealtyTrac's Sweet 16 Foreclosure List
  
  Chicago, IL — Opening Bid: $85,000 WEST REGION SEMIFINAL Savvy buyers west of the Rockies don’t have to read any John Wooden books to spot these easy free throw investment opportunities. SW, Albuquerque, NM — Opening Bid: $83,892 SOUTH REGION SEMIFINAL With many homeowners singing the post-Katrina blues in Louisiana and Mississippi, buying a foreclosure property is a slam dunk for seasoned real estate investors. Each spring brings the beginning of the real estate sales season and the end of college basketball, culminating with March Mania and the much awaited NCAA Sweet 16 playoff.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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