Several proposals under consideration in Washington right now could dramatically impact the availability of mortgage credit. The U.S. Department of the Treasury released a white paper outlining a three plans for restructuring the housing finance system, all of which...
By Becky Yerak July 23, 2011 On the sixth floor of Diamond Bank’s headquarters on the outskirts of Woodfield Mall, Chief Executive Matt Gambs tells how he once had visions of building his Schaumburg-based thrift into a $500...
‘Keeping current homeowners in their homes should be a top priority,” said Sarah Duda, senior research and project associate at the Woodstock Institute, a nonprofit research firm and financial reform advocate. ‘Preserving the opportunity for people to purchase a...
110720_vacantproperties_chicagocitycouncil_feltner_0.pdf
When talking about “risk” with the old school banking regulators, such as the Office of the Comptroller of the Currency, the Federal Reserve Board or the FDIC, the conversation was usually about “safety and soundness,” or risk to the...
Rent-to-own transactions allow customers to purchase household goods, such as furniture, electronics or other items, by making a low down payment and signing a contract agreeing to make periodic payments for one to two years. If they...
By Michelle Manchir July 20, 2011 Rep. Emily McAsey, a Lockport Democrat who represents the Bolingbrook area in the Illinois General Assembly, urged homeowners struggling with foreclosures to seek assistance from legitimate sources and avoid scams. The...
By Dennis Rodkin July 20, 2011 Some Chicago-area homeowners at risk of foreclosure may get the lifeline they need from the new $100 million Mortgage Resolution Fund, announced by Governor Quinn this past Friday. “We’re going upstream...
By Jacob Gaffney July 20, 2011 Political deadlock mixed with terrible housing market conditions will eventually turn America into a society of renters, according to the latest Housing Market Insights report from Morgan Stanley (MS: 21.72 +3.53%). High...
By Sylvia Puente July 13, 2011 “Prices are low! Mortgages are cheap!” The headline from a recent report from CNN Money enticed would-be homeowners. However, as the headline concluded, reality set in: “But you can’t get one.”...