3 Articles match "Chicago","Residential"

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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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Mortgage Reform to Calm Foreclosure Storm
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." Some of the primary components of the bill: Prohibits steering incentives to mortgage originators, including incentive compensation and any yield spread premium based on, or varying with, the terms of a residential mortgage loan. 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
Prepared by forecasting and consulting firm Global Insight , the report said weak residential investment, lower spending and income in the construction industry and curtailed consumer spending because of falling home values will combine to hold back the nation’s economic activity. billion, Dallas and Washington at $4 billion each, and Chicago at $3.9 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.
www.foreclosurepulse.com - Tuesday, December 16, 2008
READ MORE
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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
    READ MORE
  • Mortgage Reform to Calm Foreclosure Storm
    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." Some of the primary components of the bill: Prohibits steering incentives to mortgage originators, including incentive compensation and any yield spread premium based on, or varying with, the terms of a residential mortgage loan. 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
    Prepared by forecasting and consulting firm Global Insight , the report said weak residential investment, lower spending and income in the construction industry and curtailed consumer spending because of falling home values will combine to hold back the nation’s economic activity. billion, Dallas and Washington at $4 billion each, and Chicago at $3.9 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.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE