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.
December 15, 2011 - (RealEstateRama) -- A metro-east resident was sentenced yesterday, December 13, 2011, in the United States District Court in East St. Louis, for participating in a conspiracy to defraud the United States and evade the payment of federal income taxes and for making false statements on a mortgage loan application, the United States Attorney for the Southern District of Illinois, Stephen R. Wigginton, announced today. Belinda Cheri McKinney, 43, was sentenced to 37 months’ imprisonment.
Chicago, IL - December 5, 2011 - (RealEstateRama) -- In a recent study of RE/MAX agents in northern Illinois, agents reported that although this remains a great time to buy a home due to ample inventory and mortgage interest rates at a historic low, earning approval for mortgage financing has become a longer and more difficult task.
WASHINGTON, DC - October 6, 2011 - (RealEstateRama) -- U.S. Representatives Mike Quigley (IL-05) introduced The Mortgage Credit Availability Act of 2011 (H.R. 3084), which authorizes the Director of the Federal Housing Finance Agency (FHFA) to temporarily increase the conforming loan limits for mortgages that originated in high-cost areas.
CHICAGO, IL - September 16, 2011 - (RealEstateRama) -- Governor Pat Quinn today announced a program to help approximately 15,000 Illinois homeowners threatened by foreclosure. The Illinois Hardest Hit program utilizes $345 million in federal funds to support working families having trouble making mortgage payments due to unemployment or under-employment.
August 15, 2011 - (RealEstateRama) -- Three metro-east residents recently pled guilty in United States District Court in East St. Louis, for participating in a conspiracy to defraud the United States and evade the payment of federal income taxes, the United States Attorney for the Southern District of Illinois, Stephen R. Wigginton, announced today. Robert Todd McKinney, 42, and his wife Belinda McKinney, 43, pled guilty on August 11, 2011. John Quinn McKinney, 39, pled guilty on August 9, 2011; while his wife, Chamethele McKinney, 36, pled guilty on August 3, 2011. Robert (Todd) McKinney and John McKinney were both convicted of conspiracy to commit tax evasion, tax evasion, and making false statements to federal officials. Belinda McKinney was convicted of conspiracy to commit tax evasion and loan application fraud. Chamethele McKinney was previously convicted of conspiracy to commit tax evasion, loan application fraud, and federal food stamp fraud.
CHICAGO, IL - June 20, 2011 - (RealEstateRama) -- Governor Pat Quinn has proclaimed June as Homeownership Month in Illinois. Quinn issued the proclamation to raise awareness about state-sponsored affordable homeownership programs and foreclosure prevention assistance available across Illinois to meet the needs of residents in this economy
WASHINGTON, DC - May 3, 2011 - (RealEstateRama) -- Today, U.S. Representative Mike Quigley (IL-05), along with Reps. Tim Walz (MN-1) and Gary Peters (MI-9), introduced legislation to eliminate taxpayer subsidies for yachts. The Ending Taxpayer Subsidies for Yachts Act will amend a tax provision that allows boat owners to write off their mortgage interest payments if they classify their boats as second homes.
CHICAGO, IL - April 29, 2011 - (RealEstateRama) -- This Saturday, U.S. Representative Mike Quigley (IL-05) will host a Housing Information Fair for constituents to answer questions and assist local families with housing issues including loan modifications, mortgage fraud, and the foreclosure process
URBANA, IL - April 8, 2011 - (RealEstateRama) -- A Chicago-area man, Salvatore DiBenedetto, 52, of Downers Grove, appeared in federal court in Urbana today after his arrest on a 16-count indictment charging him with defrauding an Arcola, Illinois bank of approximately $2.5 million from April 2008 to February 2010. The indictment had remained sealed pending DiBenedetto’s arrest and court appearance. DiBenedetto was ordered detained in the custody of the U.S. Marshals Service pending a hearing scheduled on Apr. 12.
SPRINGFIELD, IL - February 23, 2011 - (RealEstateRama) -- Buyer market conditions remain in most Illinois housing markets as low mortgage interest rates helped spur some early buying in January despite typical slower sales for the winter month. More than half of Illinois counties reported year-over-year increases or no change in home sales for January
Durbin Writes to Governor Quinn About Protecting Illinois Servicemembers from Excessive Mortgage Fees and...
WASHINGTON, D.C. - January 28, 2011 - (RealEstateRama) -- U.S. Senator Dick Durbin (D-IL) wrote to Illinois Governor Pat Quinn today, pledging to work together to protect Illinois servicemembers from excessive mortgage fees and foreclosure. Recent news reports have raised concerns that servicemembers are being overcharged for the mortgages and foreclosed upon in violation of their legal rights. Durbin asked Quinn to do all that he can to ensure servicemembers are aware of their rights and the resources available to them.
CHICAGO, IL - November 4, 2010 - (RealEstateRama) -- The office of Congressman Bobby L. Rush (D-IL) released the following statement regarding today's Sun-Times article on an alleged lawsuit filed by New City Bank. This amended statement, though given to the reporter after being reached for comment after 8 PM Wednesday, read in part
High Affordability Conditions for September’s Illinois Housing Market Sales Down for the Month, Stronger...
SPRINGFIELD, IL - October 25, 2010 - (RealEstateRama) -- Record low mortgage interest rates and more affordable home prices benefited buyers in September, although the Illinois housing market remains subdued after the tax credit without stronger signals from the economy in the areas of jobs and improved consumer confidence. According to the Illinois Association of REALTORS® latest report, statewide total home sales (which include single-family and condominiums) in September 2010 totaled 8,024, down 4.7 percent from August’s 8,419 home sales; year-over-year home sales are down 23.4 percent compared to September 2009 sales of 10,470 homes. Year-to-date sales remain positive, up 4.9 percent January through September 2010 with 81,669 home sales compared to 77,860 home sales for the same period in 2009
HUD APPROVES $31.2 MILLION FINANCING PLAN TO REPLACE CRITICAL ACCESS HOSPITAL IN MONTICELLO, ILLINOIS
WASHINGTON, DC - October 5, 2010 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) today announced a commitment to insure a mortgage loan to the John & Mary E. Kirby Hospital in Monticello, Illinois. The $31.2 million loan is made possible through the Federal Housing Administration’s (FHA) Section 242 Hospital Mortgage Insurance Program.