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| Foreclosures |
Durbin: New Report Shows Foreclosure Crisis Has Rising Impact on Middle Class
March 15, 2010 Posted by Illinois RealEstateRama
Foreclosures not limited to predatory lending as more homeowners are “underwater”. CHICAGO, IL - March 15, 2010 - (RealEstateRama) — More homeowners across Chicago find themselves at risk of foreclosure as property values drop and families struggle with unemployment, U.S. Senator Dick Durbin (D-IL) said today at a news conference to release National People’s Action’s 2009 Chicago Foreclosure Report.
Rep. Foster Introduces Bill to Promote Responsible Homeownership and Neighborhood Stabilization
March 12, 2010 Posted by Illinois RealEstateRama
Washington, DC - March 12, 2010 - (RealEstateRama) — Yesterday, Congressman Bill Foster (IL-14) introduced legislation that will promote neighborhood stabilization by incentivizing short sales as a preferable alternative to foreclosure
Durbin: $98 Million in Recovery Act Funding Will Be Used to Put Chicagoans Back to Work and Mitigate Foreclosure Crisis
January 26, 2010 Posted by Illinois RealEstateRama
CHICAGO, IL - January 26, 2010 - (RealEstateRama) — U.S. Senator Dick Durbin (D-IL) today announced that the U.S. Department of Housing and Urban Development (HUD) has awarded the City of Chicago a Neighborhood Stabilization Program (NSP) grant in the amount of $98,008,384 through the American Recovery and Reinvestment Act. These grants are competitively awarded to local governments and non-profit housing developers to spur economic development and create jobs in hard-hit communities
$1.4M Grant to Provide Free Foreclosure Mitigation Counseling to Struggling Homeowners
November 20, 2009 Posted by Illinois RealEstateRama
CHICAGO, IL - November 20, 2009 - (RealEstateRama) — Today, the Illinois Housing Development Authority (IHDA) Board of Directors approved allocating a $1.4 million federal grant to fund free foreclosure counseling help for homeowners throughout Illinois
Durbin Discusses Next Steps to Address Foreclosure Crisis
September 3, 2009 Posted by Illinois RealEstateRama
CHICAGO, IL - September 3, 2009 - (RealEstateRama) — U.S. Senator Dick Durbin (D-IL) today met with members of the Southwest Organizing Project (SWOP) to discuss the state of the foreclosure crisis on Chicago’s southwest side and to discuss a several legislative proposals he is considering introducing in the Senate this fall. One proposal would give homeowners facing foreclosure the right to temporarily remain in their homes by paying fair-market rent to the bank, another would provide funding to support mandatory arbitration programs in which homeowners and banks sit down face to face to work out loan modifications, and a third would extend the tax credit for first time home buyers enacted earlier this year to further reduce excess housing inventory that is dragging down sale prices.
Schock Amendment to Prevent Future Foreclosures Passes House
July 24, 2009 Posted by HUD
July 24, 2009 - (RealEstateRama) — The House unanimously approved an amendment offered by Congressman Aaron Schock (R-IL) today to H.R. 3288, the Fiscal Year 2010 (FY 10) Transportation, Housing and Urban Development Appropriations Act.
HUD Secretary announces disaster assistance for Illinois storm victims
July 7, 2009 Posted by HUD
WASHINGTON, DC - July 7, 2009 - (RealEstateRama) — U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to six storm-ravaged counties in Illinois and provide support to homeowners and low-income renters forced from their homes following last month’s severe storms, flooding, and tornadoes.
