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Comment Letter: Urging CFPB to Improve COVID Loss Mitgation Rules to Prevent Foreclosures

Woodstock recently signed on to a letter led by Americans for Financial Reform (AFR) and National Consumer Law Center (NCLC) urging the Consumer Financial Protection Bureau (CFPB) to review their COVID loss mitigation rules and…

Foreclosures decline, driving up prices (Orlando Sentinel)

In 2014, the West Dundee-based firm’s bank-owned property listings numbered 390, compared with 750 the previous year. Prices are up as a result of lower inventory, interest by smaller investors and the general housing market’s…

Chicago-Area Foreclosures Hit Pre-Recession Levels, But The Housing Crisis Is Far From Over (Progress Illinois)

The dramatic dip in foreclosure filings comes after "months of sustained year-over-year declines," the Woodstock Institute said in an announcement last week of the new data. In the city of Chicago, a total of 3,950…

Fewer Chicago Foreclosures, but Illinois Real Estate Still Suffering (Angie’s List)

The data from The Woodstock Institute, a suburban financial nonprofit research and policy organization, shows foreclosure filings — the first step in the foreclosure process — went down 37.7 percent year over year in the…

Chicago-area foreclosures drop 38% in first half of 2014 (Chicago Tribune)

While the number of homes in the six-county region entering the process fell by almost 38 percent from 2013's first half, to just under 14,000 cases, foreclosure auctions decreased by only 17 percent to 13,602…

Report finds fast-tracking foreclosures could save Ohio and Pennsylvania $24 million annually

A fast-track foreclosure process streamlines the foreclosure process in judicial foreclosure states—states in which residential foreclosures must be approved by the Circuit Court. The foreclosure process has a longer timeline for judicial foreclosure states. Illinois…

Policy Brief: Unresolved Foreclosures Patterns of Zombie Properties in Cook County

140123_unresolved_foreclosures_factsheet.pdf This fact sheet summarizes the Unresolved Foreclosures: Patterns of Zombie Properties in Cook County report, which examines the extent to which mortgage servicers are filing for foreclosure and then not pursuing the case to…

The Cost of Foreclosures (Barber Shop Show)

The cure to zombie foreclosures (Housing Wire)

From 2008 to 2010, 8.7% of foreclosures filed in Cook County, Illinois, were zombie foreclosures, accruing to more than 5,800 zombie properties in the city of Chicago. But this is just the beginning. According to…

Unresolved Foreclosures: Patterns of Zombie Properties in Cook County

The report defines a zombie property as a property for which a foreclosure case has been filed but not resolved for more than three years. Because neither the borrower nor the servicer has clear control…

Vacant Buildings and Abandoned Foreclosures in Chicago (Delaware County Times)

Helene Pearson's belief in homeownership was shattered in Roseland, the mostly black Chicago neighborhood where President Obama got his start as a community organizer. Pearson, who bought her two-bedroom bungalow on South Calumet Avenue in…

New Illinois law creates protections for renters impacted by foreclosures

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…

New foreclosures drop to lowest levels since start of the housing crisis

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…

City ordinance requires inspection of foreclosures (The Badger Herald)

Vacant and foreclosed properties in Madison are likely to get a facelift in coming months. The City Council recently approved an ordinance to require financial institutions to inspect, secure and maintain abandoned properties. The measure…

Chicago-area foreclosures down from January 2012 (Chicago Tribune)

By Mary Ellen Podmolik February 14, 2013 Almost 3,800 homes in the six-county Chicago area went into foreclosure last month, a 10 percent increase from December but down dramatically from a year ago. The 3,778…

Foreclosures in 2012 up in Riverside and Brookfield (Riverside-Brookfield Landmark)

By Bob Uphues February 12, 2013 After experiencing a sharp increase in foreclosure filings during the first half of 2012, Riverside and Brookfield ended the year with the number of foreclosures slowing considerably. Through June…

Woodstock Institute- Completed foreclosures skyrocket from 2011 to 2012 (Eighteenth Street Development Corporation)

February 6, 2013 CHICAGO—The Chicago region saw the highest year-over-year growth in completed foreclosure auctions since the beginning of the foreclosure crisis, new 2012 data from Woodstock Institute show. Foreclosure auctions, which signal the completion…