| Aug 27, 2013
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...
| Jan 10, 2013
| 9:13 AM
Government officials are unveiling new mortgage lending guidelines designed to curtail risky loans that led to the housing bust.
From the Chicago Tribune: For most borrowers, the rules will mean no more interest-only mortgages, no more loans where...
| Dec 18, 2012
| 11:34 AM
The cash-strapped Museum of Broadcast Communications will have more time to pay off its newhome after receiving a three-year extension on its mortgage, according to an email this week from founder Bruce DuMont.
“We are moving forward,”...
| May 2, 2013
| 3:04 PM
A Chicago man was sentenced to more than 12 years in federal prison after having been convicted of engaging in a mortgage fraud scheme involving 65 real-estate transactions on the South Side.
The scheme which netted Fred Haywood, 42, about $700,000...
| Nov 4, 2012
More than a third of potential borrowers would be willing to pay a higher rate if the mortgage came with superior service, according to a new survey.
The poll by the Carlisle & Gallagher Consulting Group didn't say how much more the 34% were willing to...
| Apr 7, 2013
More than 50 struggling Chicago-area homeowners last year placed their faith and their savings into the hands of Washington National Trust, which promised to save their homes from foreclosure.
The homeowners, most of them Hispanic and living in Aurora,...
| Sep 2, 2012
WASHINGTON — If you're underwater and facing financial distress, what might Fannie Mae's and Freddie Mac's new short-sale-reform policies mean for you? Potentially a lot — even if you are current on your mortgage payments and never imagined...
| Sep 17, 2012
| 1:11 PM
As institutional investors look for better returns in a low-interest-rate environment, Conning has partnered with an Illinois-based lender and underwriter to allow its customers to invest in commercial-mortgage loans.
The commercial mortgage loans will...
| Jan 25, 2011
| 6:31 PM
Text of President Barack Obama's State of the Union address, as provided by the White House:
Mr. Speaker, Mr. Vice President, members of Congress, distinguished guests and fellow Americans:
Last month, I went to Andrews Air Force Base and welcomed...
| Oct 14, 2011
Sometimes it's hard to escape the notion that our lives are being slowly, inevitably reduced to a single database.
For instance, if you thought your current credit report told the full story of your financial persona, it's nothing compared to what's on...
| Jan 6, 2012
Like many homeowners, John Kennedy bought his Chicago condo when home prices were high. But when he got married and wanted a bigger place, selling his condo seemed out of the question because he owed more on his home than it was worth.
The solution for...
| Dec 9, 2011
| 8:13 AM
For homeowners looking to upgrade — or downsize — their residences, it's a difficult chicken-or-egg question: Which comes first, buying a new place to live or selling an old one? Each situation presents a potentially thorny set of issues.