From the President: Real estate rebound?
In the six months that my house has been on the real estate market, I received only two offers recently and both started at quite a bit lower than my asking price. I finally accepted one offer at...
Research Corner: Congress should not eliminate funding for a key source of data that helps the government be more efficient
As a researcher, I analyze data for a living, and that is one of the many reasons why I am so concerned about the recent vote in the United States House of Representatives to defund the American...
We need better consumer protections for prepaid cards
The Consumer Financial Protection Bureau held a field hearing in Durham, North Carolina yesterday to hear from advocates, the prepaid card industry, and consumers about what protections are needed for prepaid cards, also known as general purpose reloadable (GPR)...
Testimony of Tom Feltner before the Consumer Financial Protection Bureau in favor of increased consumer protections for general purpose reloadable cards
Testimony of Tom Feltner, vice president of Woodstock Institute, addressing deposit insurance, access to mainstream financial products, and credit products such as overdraft protection or payday loan-like deposit advances for general purpose reloadable cards. 120522_cfpb_prepaid_fieldhearing_0.pdf
Illinois NCRC members call on Congress to extend tax exemption for principal reductions, support job creation
In all, 23 advocates representing 13 Illinois nonprofits went office to office reaching out to legislators, walking them through the impact of vacant properties and sharing client success stories. The Illinois groups were joined by over 750...
New blog opens up conversation on personal finance with young adults
The central drama of the Billfold is the relationship between the blog’s two editors, Mike Dang and Logan Sachon. Dang and Sachon are longtime friends and a self-described “study in contrasts.” Dang is very financially responsible—he saved enough money...
Thank you for helping us honor local leaders and learn about the impacts of income inequality
Illinois Attorney General Lisa Madigan kicked off the Community Investment Awards by describing the important impact the robo-signing settlement will have on Illinois. Not only will the settlement provide a significant number of loan modifications that will help families...
More principal reductions could help lower re-default rates: March 2012 HAMP Analysis
Data released in January by the U.S. Department of the Treasury, which administers HAMP, illustrate interesting information on the characteristics of HAMP and PRA borrowers and modifications. Perhaps unsurprisingly, PRA modifications are much more effective at addressing negative...
Housing collaboratives pioneer ways to make public funds more impactful
Park Forest’s Eastgate neighborhood. In earlier years, Eastgate might not have received significant attention from state and federal initiatives designed to stabilize neighborhoods. Even though the Village has identified it as an area of concern, federal funds...
Attorney General Lisa Madigan to deliver keynote address on impact of robosigning settlement on Illinois
“Attorney General Madigan has worked tirelessly to protect Illinois homeowners from unfair foreclosures,” says Dory Rand, President of Woodstock Institute. “We are pleased to welcome her and look forward to her remarks on how the national mortgage settlement will...