| Jun 29, 2014
It was the worst U.S. economic calamity since the 1930s.
Over 18 months, the Great Recession erased trillions of dollars in wealth, destroyed 8 million jobs and robbed tens of thousands of their homes. More than half of adults lost a job or saw a cut in...
| Jun 26, 2014
| 1:56 PM
Amid flagging interest for the Home Affordable Refinance Program, Fannie Mae and Freddie Mac are taking their pitch on the road, with the first stop in Chicago next month.
Mel Watt, director of the Federal Housing Finance Agency, is scheduled to meet...
| Jun 20, 2014
| 10:49 AM
HOUSTON — Ever heard the phrase "damned with faint praise"? That's what continually came to mind about the state of the housing recovery as journalists and industry representatives came together here for the annual conference of the National...
| Jun 14, 2014
| 11:20 AM
Vera Johnson from Seattle is barely making do, let alone saving for retirement.
"I try to remain in the present moment and not live in fear of the future," said Johnson, who has neither retirement savings nor a college fund for her two children. "My...
| Jun 6, 2014
| 10:34 PM
Much of what Los Angeles City Atty. Mike Feuer alleges in his lawsuits against four big banks for their mortgage and foreclosure practices isn't debatable.
In his latest lawsuit filed May 30 against JP Morgan Chase, Feuer alleges that mortgage lenders...
| Jun 4, 2014
| 8:14 PM
| Jun 3, 2014
| 11:20 AM
Debt on Chicago's Willis Tower, formerly the tallest U.S. building, was put in special servicing after the borrower requested a loan modification, Fitch Ratings Inc. says.
"The borrower anticipates significant capital costs going forward in order to...
| Apr 19, 2014
| 5:49 PM
New lending rules, fluctuating mortgage interest rates and slowly rising home prices haven't dampened enthusiasm for home purchases, but the combination is prompting a question from consumers to lenders.
Do I qualify?
"It's a different environment for...
| May 12, 2014
| 2:22 PM
Chicago-area homebuilders are playing a game of catch-up after a rough winter delayed construction.
And while they remain concerned about the broader economy and its effect on consumers' outlooks and their wallets, builders are smiling again.
| Apr 22, 2014
| 11:02 AM
Sales of existing single-family homes and condominiums in the Chicago area fell for a third consecutive month in March, compared with a year ago, but the double-digit decline isn’t as bad as it seems.
While the total sales volume was down 11.1...
| Apr 25, 2014
| 12:14 PM
A Chicago man has received a six-year prison sentence after pleading guilty to criminal mortgage rescue fraud.
Warren Jackson, 44, received the sentence in Cook County Circuit Court Thursday in connection with activities that caused losses of more than...
| May 3, 2014
| 5:51 PM
As part of the NBA's sweeping sanctions against Clippers owner Donald Sterling over his controversial racial remarks, NBA Commissioner Adam Silver is urging the league's other owners to push for the Clippers' sale.
Silver said that if three-quarters...