Mortgage

Mortgage

130 Families Pre-Qualified for Affordable Mortgage Products at State of Illinois Homebuyer Expo

CHICAGO, IL - March 25, 2013 - (RealEstateRama) -- Approximately 130 families who attended the first-ever State of Illinois Homebuyer Expo over the weekend are now on the path to homeownership. After pre-qualifying for safe and affordable mortgage products featuring thousands of dollars in down payment and closing cost assistance, the next step for these families is to find their dream home

Sen. Kirk’s Vote on Cordray Disappoints

WASHINGTON, D.C. - March 21, 2013 - (RealEstateRama) -- The Senate Banking Committee voted earlier today 12-10 along party lines in favor of the confirmation of Richard Cordray as director of the Consumer Financial Protection Bureau (CFPB). Cordray’s nomination now goes to a vote by the full Senate. Unfortunately for Illinoisans, Senator Mark Kirk voted against Cordray, who has earned widespread, bipartisan praise for his work leading the CFPB

February home sales in Illinois up 16.2 percent from a year ago; statewide median...

SPRINGFIELD, IL - March 21, 2013 - (RealEstateRama) -- Illinois home sales increased 16.2 percent over previous-year levels in February and median prices increased 5.1 percent, according to the Illinois Association of REALTORS®.

Governor Quinn Announces Illinois Hardest Hit Increasing Mortgage Assistance to $35,000 per Homeowner

CHICAGO, IL - March 15, 2013 - (RealEstateRama) -- Governor Pat Quinn today announced that the Illinois Housing Development Authority is increasing the mortgage assistance available through the Illinois Hardest Hit program to $35,000 per household across the state, effective April 1. The governor also announced that Illinois Hardest Hit has reached a milestone, having recently helped its 7,000th homeowner avoid foreclosure. Today's announcement will help an additional 500 working families keep their homes and is part of the governor's commitment to strengthen Illinois' communities

Governor Quinn Signs Landmark Legislation to Strengthen Communities Across Illinois

CHICAGO, IL - February 8, 2013 - (RealEstateRama) -- Governor Pat Quinn today signed a landmark law that will strengthen communities across Illinois by responsibly fast tracking the foreclosure process and investing more than $120 million to help more families keep their homes. The law will help restore neighborhoods and property values by significantly shortening the foreclosure process to a few months, down from what now takes nearly two years. Today’s signing is the latest action by Governor Quinn to help working families stay in their homes, which will stabilize and grow the Illinois housing market

MADIGAN: DEADLINE FOR FORECLOSURE SETTLEMENT CLAIMS JAN. 18

Chicago, IL - January 14, 2012 - (RealEstateRama) -- Attorney General Lisa Madigan today reminded eligible Illinois borrowers that the deadline to file a claim form to receive a payment under the National Mortgage Foreclosure Settlement is Friday, January 18

MADIGAN SUES “FORENSIC LOAN AUDIT” SCHEMES FOR RIPPING OFF HOMEOWNERS SEEKING LOAN SAVINGS, HELP...

Chicago, IL - December 18, 2012 - (RealEstateRama) -- Attorney General Lisa Madigan today sought to crack down on a new form of “mortgage rescue fraud,” filing lawsuits against two companies for preying on struggling homeowners and promising loan assistance while actually adding to their targets’ financial hardship

MADIGAN URGES CONGRESS TO EXTEND TAX RELIEF TO STRUGGLING HOMEOWNERS

Chicago, IL - November 20, 2012 - (RealEstateRama) -- Attorney General Lisa Madigan today joined 41 of her counterparts in calling on Congress to extend tax relief for homeowners who have mortgage debt canceled or forgiven because of financial hardship or declining home values.

MADIGAN: ILLINOIS IN TOP 5 STATES FOR RELIEF TO HOMEOWNERS FROM NATIONAL FORECLOSURE SETTLEMENT

Chicago, IL - November 19, 2012 - (RealEstateRama) -- In responding to the second report issued by the national foreclosure settlement’s independent monitor, Attorney General Lisa Madigan today outlined the direct relief Illinois borrowers have received as a result of the $25 billion settlement reached earlier this year with the nation’s five largest bank mortgage servicers over allegations of widespread “robo-signing” and other fraudulent practices involved in servicing loans of struggling homeowners.

STATEMENT FROM ATTORNEY GENERAL MADIGAN ON FIRST PROGRESS REPORT ON NATIONAL FORECLOSURE SETTLEMENT

Chicago, IL - August 30, 2012 - (RealEstateRama) -- In responding to the first report issued by the national foreclosure settlement’s independent monitor, Attorney General Lisa Madigan today outlined the direct relief Illinois borrowers have begun to receive as a result of the $25 billion settlement reached earlier this year with the nation’s five largest bank mortgage servicers over allegations of widespread “robo-signing” and other fraudulent practices involved in servicing loans of struggling homeowners.

MADIGAN ANNOUNCES $4.7 MILLION GRANT FOR FREE LEGAL HELP FOR CHICAGO AREA HOMEOWNERS

Chicago, IL - August 28, 2012 - (RealEstateRama) -- Attorney General Lisa Madigan today announced that her office has distributed $4.7 million in funding from the national foreclosure settlement reached earlier this year to LAF (Legal Assistance Foundation). Madigan said the grant will help provide much-needed legal services to struggling homeowners in Chicago and suburban Cook County.

Governor Quinn Signs Housing Bills to Support People with Disabilities and Protect Homeowners from...

CHICAGO, IL - August 6, 2012 - (RealEstateRama) -- Governor Pat Quinn today signed two new housing laws to provide people with disabilities with more access to affordable rental housing, and to further protect homeowners from mortgage fraud. The supportive housing law makes $10 million in rental housing subsidies available over 15 years to eligible landlords. In addition, the governor announced the commitment of up to $40 million in Illinois Jobs Now! capital funds for developers of permanent supportive housing. These laws build on the governor’s strong commitment to providing more housing options for people with disabilities, and to protecting consumers from predatory lenders.

MADIGAN ANNOUNCES $3 MILLION IN FUNDING FOR FORECLOSURE MEDIATION PROGRAMS

Chicago, IL - July 17, 2012 - (RealEstateRama) -- Attorney General Lisa Madigan announced that up to $3 million in funding from the national foreclosure settlement reached this year will be used to fund new mortgage foreclosure mediation programs in Illinois counties where such programs currently do not exist.

Attorney General Lisa Madigan, DOJ settle racial discrimination suit against Wells Fargo for $175...

Chicago, IL - July 13, 2012 - (RealEstateRama) -- Attorney General Lisa Madigan together with the Department of Justice announced a $175 million nationwide settlement today with Wells Fargo over allegations that the bank steered borrowers of color into subprime loans more frequently than comparable white borrowers and charged borrowers of color more money for their mortgages than white borrowers were charged. The settlement will provide at least $15 million in restitution to impacted Illinois borrowers, while an additional $7 million will create a fund for down payment assistance. Currently, approximately 3,300 Illinois borrowers are estimated to be victims of discrimination by Wells Fargo.

Illinois Joins Multi-State Settlement with Five National Banks

CHICAGO, IL - February 13, 2012 - (RealEstateRama) -- Governor Pat Quinn today announced that Illinois mortgage regulators have joined with their counterparts across the country to accept the terms of a national settlement with five of the nation’s largest banks. Under the settlement, more than $1 billion will go to help struggling Illinois homeowners and those affected by improper foreclosures.

Popular

Investigation by CHA and HUD Inspectors General ends with guilty plea...

The Chicago Housing Authority will receive restitution for money stolen by a former contractor and her husband after the pair pleaded guilty to stealing funds intended for the Housing Choice Voucher (HCV) program, a crime that was exposed following an investigation by the CHA’s Office of the Inspector General.

Recent

Inspector General investigations result in trio of felony convictions for theft...

Three investigations conducted by the Chicago Housing Authority’s Office of the Inspector General (CHA OIG) recently resulted in three new felony convictions for theft of government funds, including one in which the defendant was sentenced to more than six years in the Illinois Department of Corrections.

Editors’ Picks

Quigley Fights to Expand Affordable Housing and Protect Vital Infrastructure Investments

Today, U.S. Representative Mike Quigley (IL-05) fought to expand federal housing assistance and protect funding and eligibility for vital infrastructure programs that improve the economy and support local communities, including projects in Chicago and Cook County. His efforts come as the House Appropriations Committee considers the FY15 Transportation, Housing and Urban Development (THUD) Appropriations bill Fisher Investments Jay Carlson