Archives

August 31, 2011 - (RealEstateRama) -- Mayor Rahm Emanuel today announced the Micro-Market Recovery Program, an innovative new program for Chicago that will address foreclosures and stabilize property values in key neighborhoods throughout the city.

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 - June 9, 2011 - (RealEstateRama) -- U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to the State of Illinois and provide support to homeowners and low-income renters forced from their homes following severe storms and flooding during the month of April.

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

CHICAGO, IL - April 19, 2011 - (RealEstateRama) -- State officials marked National Fair Housing Month today by launching a week-long, free screening of American Casino, a film on the mortgage loan scheme that caused economic disaster for millions of Americans. Illinois Department of Human Rights (IDHR) Director Rocco Claps was joined by Illinois Attorney General Lisa Madigan and Illinois Department of Financial and Professional Regulation, Division of Banking Director Manuel Flores to discuss the state’s efforts to protect individuals from discrimination in housing, mortgage fraud and predatory lending practices. Governor Pat Quinn proclaimed April as Fair Housing Month in Illinois to create greater awareness of state laws that prohibit discrimination in housing.

SPRINGFIELD, IL - March 15, 2011 - (RealEstateRama) -- The Illinois Association of REALTORS® (IAR) today released new data that shows mortgage loans above the current conforming limit have not led to an increase in foreclosures in the Chicagoland region as some have previously thought. The data provides evidence to support those advocating for an increase in conventional loan limits in select areas of northern Illinois.

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 - December 15, 2010 - (RealEstateRama) -- In an effort to clean up the foreclosure process in Illinois, Brent E. Adams, Secretary of the Illinois Department of Financial and Professional Regulation (IDFPR), today released a 9-point “affidavit preparation expectations” plan

Chicago, IL - November 22, 2010 - (RealEstateRama) -- Home prices in the metropolitan Chicago real estate market reached somewhat firmer ground in October even as the volume of homes changing hands continued to decline. Both the median and average price of homes sold in the seven-county metro area were higher for October than during the previous month, while transaction volume was 14 percent lower than in September.

CHICAGO, IL - August 12, 2010 - (RealEstateRama) -- Governor Pat Quinn today issued a statement praising the Obama Administration’s announcement of additional support to “Hardest Hit” states with high unemployment to assist in foreclosure prevention. The U.S. Department of the Treasury will make $2 billion of additional assistance available to unemployed homeowners struggling to make mortgage payments. Illinois is eligible to receive more than $166 million in federal funding to help unemployed homeowners having trouble making mortgage payments

CHICAGO, IL - August 3, 2010 - (RealEstateRama) -- Governor Pat Quinn today signed legislation that will boost affordable housing development across Illinois. Governor Quinn also signed a bill into law that will for the first time create funding to protect Illinois homeowners from foreclosure, and help stabilize communities throughout the state

CHICAGO, IL - May 31, 2010 - (RealEstateRama) - Governor Pat Quinn today signed two bills into law that support Illinois’ servicemembers. The new laws increase foreclosure protections for active-duty servicemembers and expand the War on Terrorism Compensation Act, allowing more servicemembers to receive a $100 service compensation

CHICAGO, IL - May 21, 2010 - (RealEstateRama) -- A new round of more than $1.4 million in federal grant money will enable thousands of homeowners across Illinois to receive free foreclosure counseling, the Illinois Housing Development Authority (IHDA) announced today.

BETHEL, CT - April 26, 2010 - (RealEstateRama) -- Countdown To Buy, a next generation online real estate marketplace that offers fair and effective solutions to buy and sell properties, has opened the door for home buyers in Illinois to easily purchase an affordable and recently foreclosed home right in their local community. Declining prices, record inventories and the current favorable interest rate environment, has made homes more affordable. However, many potential home buyers in Illinois remain on the sidelines because of the lack of trust, transparency, and the increased risk and anxiety surrounding purchasing an “as-is” property in foreclosure.

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.