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3 Articles match "Illinois","January","Real Estate"
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The Latest from RealtyTrac
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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. One such
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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 . 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. Rod Blagojevich suspended
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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The Best from RealtyTrac
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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
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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 . 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. Rod Blagojevich suspended
www.foreclosurepulse.com
- Tuesday, December 16, 2008
-
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
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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