5 Articles match "Illinois","Properties","Report"

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.
www.foreclosurepulse.com - Tuesday, December 16, 2008
READ MORE
Credit Card and Mortgage Debt Fuels Foreclosure
Not surprisingly, more than 115,568 properties entered some stage of foreclosure nationwide in October, according to RealtyTrac’s U.S. Foreclosure Market Report . Among the hardest-hit states were California, Florida, Texas, Michigan, Illinois and Ohio. Debt! No word better describes why millions of Americans are now facing foreclosure.
www.foreclosurepulse.com - Tuesday, December 16, 2008
READ MORE
Foreclosure Filings Soar 90 Percent
foreclosure filings surged 90 percent in May from a year earlier as more homeowners fell behind on their monthly mortgage payments, reported RealtyTrac . Certainly not every community nationwide is seeing an increase in foreclosures, but foreclosed properties are becoming more commonplace and adding to the downward pressure on home prices in many areas.” Meanwhile, the Mortgage Bankers Association, in its quarterly snapshot A growing number of American homeowners across the country are getting foreclosure notices, according to new data released this week by RealtyTrac. U.S.
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.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • FBI: Mortgage Fraud Begets Foreclosure
    The FBI recently came out with its 2006 Mortgage Fraud Report , which somewhat anticlimactically concludes that there is “a strong correlation between mortgage fraud and loans which result in default or foreclosure.” The correlation is apparent in the report’s list of the top states for mortgage fraud: California, Florida, Georgia, Illinois, Indiana, Michigan, New York, Ohio, Texas, and Utah. Six of those states also appeared in RealtyTrac’s list of states with the highest foreclosure rates in 2006. The FBI also lists Arizona, Colorado, Maryland, Minnesota, Missouri, Nevada,
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • Credit Card and Mortgage Debt Fuels Foreclosure
    Not surprisingly, more than 115,568 properties entered some stage of foreclosure nationwide in October, according to RealtyTrac’s U.S. Foreclosure Market Report . Among the hardest-hit states were California, Florida, Texas, Michigan, Illinois and Ohio. Debt! No word better describes why millions of Americans are now facing foreclosure.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • Foreclosure Filings Soar 90 Percent
    foreclosure filings surged 90 percent in May from a year earlier as more homeowners fell behind on their monthly mortgage payments, reported RealtyTrac . Certainly not every community nationwide is seeing an increase in foreclosures, but foreclosed properties are becoming more commonplace and adding to the downward pressure on home prices in many areas.” Meanwhile, the Mortgage Bankers Association, in its quarterly snapshot A growing number of American homeowners across the country are getting foreclosure notices, according to new data released this week by RealtyTrac. U.S.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • Now Homebuilders Face Foreclosure
    in Illinois. “We’re in the worst housing recession in modern history,” Antonio B. Homebuilders, meanwhile, have been frantically selling off properties at huge discounts, laying off employees and selling undeveloped land to raise capital and remain liquid. Many of these homebuilders have lost more than 80 percent of their stock value — and have reported hundreds of million in losses to their balance sheet. For millions of Americans facing foreclosure, the Federal Reserve’s interest rate cut this week was welcome news that could possibly help save thousands of homeowners from default by giving them the opportunity to refinance their adjustable-rate loan into a fixed-rate mortgage with a lower interest rate.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE