4 Articles match "GOV","Illinois"

The Latest from RealtyTrac MORE
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. One such
www.foreclosurepulse.com - Tuesday, December 16, 2008
READ MORE
Governor Suspends Controversial Law Affecting Investors
Responding to the public outcry of legislative redlining, equal protection violations, and racial discrimination against minority residents living in certain Chicagoland areas, Illinois Gov. 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. 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 .
www.foreclosurepulse.com - Tuesday, December 16, 2008
READ MORE
As Foreclosures Mount, Candidates React to the Credit Crisis
39;” By contrast, Illinois Sen. New Mexico Gov. With mortgage foreclosures at historic highs, Democrats and Republicans are fighting over a political issue that could have major implications in the 2008 presidential campaign. Sensing an opportunity to win votes, the major presidential candidates have come out swinging; proposing a variety of prescriptions to ease the worsening housing slump.Both the White House and Democrat leaders in Congress agree that something must be done to stop the foreclosures.
www.foreclosurepulse.com - Tuesday, December 16, 2008
READ MORE
  • The Best from RealtyTrac MORE
  • 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. One such
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • Governor Suspends Controversial Law Affecting Investors
    Responding to the public outcry of legislative redlining, equal protection violations, and racial discrimination against minority residents living in certain Chicagoland areas, Illinois Gov. 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. 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 .
    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. Earlier this month, Blagojevich took another shot at the issue, signing into law a new bill that incorporates many of the provisions of 4050 , but applies to all of Cook County and in some cases all of Illinois. 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
  • As Foreclosures Mount, Candidates React to the Credit Crisis
    39;” By contrast, Illinois Sen. New Mexico Gov. With mortgage foreclosures at historic highs, Democrats and Republicans are fighting over a political issue that could have major implications in the 2008 presidential campaign. Sensing an opportunity to win votes, the major presidential candidates have come out swinging; proposing a variety of prescriptions to ease the worsening housing slump.Both the White House and Democrat leaders in Congress agree that something must be done to stop the foreclosures.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE