As a partial owner of North Chicago Auto Service, which does car repairs and towing for the city’s police department, Otero-Cintrón makes serving the community central to his business. If a customer is having trouble paying for badly needed...
By Tony Arnold October 28, 2010 A new report shows the foreclosure crisis hit Chicago particularly hard this summer. The numbers from RealtyTrac show the summer in Chicago was not a pleasant one for many home owners. The city...
October 28, 2010 Foreclosure activity is up across most U.S. metro areas, and the Chicago area is no exception. In a report by RealtyTrac Inc., Chicago has seen a sharp increase in foreclosure warnings and has had the...
By Anna Marie Kukec October 26, 2010 The suburbs are heading for more empty homes amid the foreclosure crisis, with little hope in sight as the robo-signing controversy, high unemployment and underwater home prices stall a recovery, the Woodstock...
By Lynne Stiefel October 26, 2010 Even though foreclosure activity looks to be slowing in a few suburbs, rates are increasing in most others, leading the Woodstock Institute to conclude that the crisis hasn’t yet bottomed out in...
By Odette Yousef October 26, 2010 Bank failures have brought a wave of new lenders into many communities. These institutions are larger and more stable than the ones they have replaced, but they don’t have the same relationships...
“If I try to sell this house,” Froylan Sr. says. “They won’t even give me a stick of gum for it.” The Nuñezes’ story is replicating itself on blocks throughout the region. New data from Woodstock Institute found that...
Ninety-five percent of the completed foreclosures became lender-owned instead of selling to a third-party buyer at auction. Lender-owned foreclosed properties often stay vacant for a significant period of time. “The addition of 25,614 lender-owned properties to the region’s vacant...
By Curtis Black October 21, 2010 The problem with Cook County Sheriff Tom Dart’s foreclosure moratorium isn’t that it “delays the inevitable.” It’s that it may not have much impact at all. Two weeks after Action Now called on...
By Richard D. Orol October 21, 2010 WASHINGTON (MarketWatch) — Consumer advocates and bank executives clashed on Thursday over the financial industry’s handling and the severity of the so-called “robo-signing” crisis that the government says could derail the housing...