2 Articles match "Illinois","Report","Standards"

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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. Local mortgage
www.foreclosurepulse.com - Tuesday, December 16, 2008
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Now Homebuilders Face Foreclosure
in Illinois. “We’re in the worst housing recession in modern history,” Antonio B. The builders most at risk are Standard Pacific Homes of Irvine Calif., K. 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
  • 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. Local mortgage
    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. The builders most at risk are Standard Pacific Homes of Irvine Calif., K. 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