5 Articles match "Chicago","September"

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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 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. 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? Call immediately and ask to speak with the “loss mitigation” specialist.
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. But opponents
www.foreclosurepulse.com - Tuesday, December 16, 2008
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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. But opponents
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • 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
    READ MORE
  • How Can Financially-Troubled Homeowners Prevent Foreclosure?
    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. 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? Call immediately and ask to speak with the “loss mitigation” specialist.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • Mortgage Reform to Calm Foreclosure Storm
    Illinois House Bill 4050, a pilot program for 10 Chicago zip codes that was enacted in September 2006, was suspended by Gov. 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. Called The Mortgage Reform and Anti-Predatory Lending Act of 2007, the bill ( H.R.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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