The HAMP program starts out participants in three-to five-month trial modifications, and if they submit all the necessary paperwork and make payments on time, they are supposed to be entered into a permanent modification. Treasury started reporting on permanent...
By Chris LaFortuneFebruary 25, 2010 Oak Park and River Forest experienced almost three times the number of foreclosures last year as they did in 2005. According to the Woodstock Institute in Chicago, Oak Park had 230 foreclosures in 2009,...
Although these OCC actions come too late to protect millions of consumers who have already been harmed by deceptive marketing and high-cost RALs this tax season, Woodstock Institute welcomes the OCC efforts as a step in the right direction....
By Jane MichaelsFebruary 23, 2010 Foreclosures in much of DuPage and west suburban Cook counties haven’t risen as dramatically as in north and northwest suburban Cook County, but it may only be a matter of time. The Woodstock Institute,...
By Jennifer JohnsonFebruary 23, 2010 Foreclosures continued to hit Park Ridge in 2009, according to a recently released report that shows an increasing number of properties were taken over by financial institutions last year. According to the Feb. 10,...
Their story is not uncommon. In fact, the Illinois Attorney General’s office has seen a sharp rise in complaints against debt settlement companies, culminating in a lawsuit filed earlier this month alleging four companies of abusive and deceptive practices....
By Bill SmithFebruary 22, 2010 The surge in foreclosures in Evanston over the past three years appears to be tapering off, at least temporarily. Data from Blockshopper.com shows that the number of foreclosures tripled from 14 in 2006 to...
The new regulations protect against unexpected fixed interest rate increases by preventing increases for one year after an account is opened; after that, the borrower must receive 45 days of notice before an increase. Credit card issuers will, for...
By Stephen FranklinFebruary 19, 2010 It’s time to fleece the working poor again. That’s what happens to numbers of working poor who eagerly look forward this time of the year to getting money back from Washington because they earned...
February 19, 2010 And so it begins. Tax season. The time of year when tax prep software commercials sandwich prime time TV shows and your friends in the tax prep industry sleep on office couches. For many like myself,...