Renters with existing leases may remain in their units for the remainder of the lease. Landlords must give renters living on month-to-month leases a minimum of 90 days notice before terminating the lease. The bill sponsors were Sen. Jackie...
A federal court ruling has dealt a setback to Chicago's efforts, and to potentially those of municipalities around the country, to maintain some of the vacant properties caught in the limbo of the foreclosure process. Chicago's ordinance, which took...
The Federal Housing Financing Agency argued Chicago can’t make a law on a federal agency nor could it tax the federal government. On Friday, the court agreed. Under the city’s 2011 vacant building ordinance, owners and mortgagees have to...
The Federal Housing Finance Agency (FHFA), which regulates Fannie Mae and Freddie Mac, filed suit against the City of Chicago’s vacant buildings ordinance in December 2011. The ordinance requires mortgagees of a vacant building to register the property with...
Both properties were bought and resold by investors. In Las Vegas, more than half of properties with mortgages are underwater, according to Zillow, a real estate data firm. In Phoenix, the share is a third. Someone who got a...
Many are concerned that unsustainable levels of student debt are preventing young people from buying a home, starting a business, or saving for emergencies. It’s clear that we need better policy solutions to ensure that getting an education doesn’t...
July home sales in Illinois surged 28.5% year-over-year, while median prices jumped 14.2%, providing further proof that a once distraught market is on its way to a healthy recovery. July total home sales in Illinois reached a volume of...
On its face, this sounds like good news, but it’s too soon to break out the champagne. It seems unlikely that the foreclosure crisis over when more than a third of Chicago region homes are underwater and unemployment remains...
Register for the research symposium and bash General Madigan and her team have partnered with consumer advocates on issues such as fair lending, consumer protection, and foreclosure prevention. She was an early supporter of the Consumer Financial Protection Bureau...
CHICAGO—New foreclosure filings in the Chicago six county region dropped by more than a third from the first half of 2012 to the first half of 2013, new data from Woodstock Institute show. Completed foreclosure auctions continue at a...