Category: Mortgages, finance
Illinois AG sues unlicensed mortgage brokers – again
The Mortgage Fraud Blog is a good way to keep current on litigation around the country against dishonest mortgage brokers.
It rarely reports on Illin [...]
Yo '07: will low mortgage rates spur Chicago housing market?
New Homes Magazine is back from its little winter hibernation. The February issue, which spotlights new loft developments and neighborhoods on the Sou [...]
Chicago deals: Mortgage offers aplenty
Another way developers are trying to distract Chicagoans from Da Bears is by offering mortgage deals on new homes. Anchor General is offering a 1 perc [...]
Gov. Blagojevich suspends mortgage counseling law
A law requiring home buyers with poor credit in certain South Side neighborhoods to get mortgage counseling has been suspended by Gov. Blagojevich, ac [...]
A horror story from the front
Dan Green, at The Mortgage Reports, has a tale suggesting that the impact of HB 4050 may be even worse than has been previously reported. [...]
South Siders call for end to mortgage lending law
The Chicago Sun-Times reports on a call from a coalition of groups to rescind a state law that requires home buyers to undergo mortgage counseling b [...]
Yo '07: Are we headed for 10 percent price drops?
The price of homes in many parts of downtown Chicago, outerlying neighborhoods and the suburbs could flatten out or even drop as much as 10 percent in [...]
Minority Chicagoans and Chicago neighborhoods will feel pain of high-cost home loans
Yo reader "George Costanza" beat us to the punch by posting this New York Times article in the comments section of a previous post, but we want to dra [...]
Illinois predatory lending laws should go after predators, not prey
It's unfortunate that the debate over a new law designed to curb predatory lending in Illinois has turned ugly. At a press conference announcing the l [...]
Chicago property taxes could rise 36%
A new study by The Civic Federation estimates that Chicago homeowners could see their property tax bills rise by 36 percent in 2007 if the 7 percent t [...]
Mortgage fraud – the new street hustle
If you missed the Chicago Tribune's recent multimedia report on mortgage fraud, you missed some great reporting.
The Trib's multi-part story highligh [...]
A crackdown that cracks me up
A recent press release from the Governor's office touts the results of a "crackdown" on unlicensed mortgage brokers in Illinois.
According to the pre [...]
Mortgage fraud is soaring
Many housing numbers may be trending down but at least one is up sharply: mortgage fraud.
Reports of possible mortgage fraud are up 35% in the first [...]
Exotic mortgages are "time bombs" for moderate-income homebuyers
In the September issue of New Homes Magazine, out today, columnist Don DeBat warns of the dangers "exotic" mortgages, like interest-only adjustable-ra [...]
Is a total meltdown a soft landing?
I'm just back from the Inman Real Estate Connect conference in San Francisco.
On stage, all of the observers were talking about a "soft landing" for [...]
City resurrects mortgage program for 1st-time buyers
With interest rates on the rise, Chicago has resurrected its City Mortgage program, which offers first-time buyers discounted mortgage rates and help [...]
Hometown appraisal fraud
An FBI sting operation netted residents of Wilmette and Highland Park in an appraisal scam that inflated the value of a rundown property by more than [...]
A 57-percent spike in housing activity
Actually, it's a huge increase in the rate of Chicagoland foreclosure filings, according to RealtyTrac, which reports that Chicago foreclosures were u [...]
Some frightening stats on Illinois mortgage brokers
The St Louis Post-Dispatch brings news about an expanding crackdown on unlicensed mortgage loan originators in Illinois. Deep into the article we find [...]
Illinois has steady increase in mortgage fraud
That's the Midwest for you. Steady.
According to a study recently released by the Mortgage Bankers Association, Illinois now ranks fifth in the natio [...]