Not so golden years for some older homeowners

Not so golden years

Home equity no longer looks like a safe Plan B for a fast-growing group of pre-retirees and seniors.

A new take on impact of foreclosures on home values

A new take on impact of foreclosures on home values 

There's good news and bad news to be found in the latest research regarding the effect of foreclosed homes on neighborhood property values.

Ruling could change course of collection proceedings

Ruling could change course of collection proceedings

Delinquent condominium owners historically have been told to pay up, no matter how well the board took care of the property. But an Illinois...

Emanuel: Eminent domain not 'the right instrument' to address underwater mortgages

Emanuel: Eminent domain not 'the right instrument' to address underwater mortgages

Mayor Rahm Emanuel said Tuesday that he does not support the idea of using eminent domain to seize underwater homes and then refinance those...

Consumer protection bureau to propose new federal mortgage rules

WASHINGTON — New federal rules would require banks to provide homeowners with better information about their mortgages to avoid costly...

Know pitfalls of mortgage-to-lease option

Investors know a good thing when they see one. That's why they are lining up in droves to get their hands on thousands of government-held...

Anyone can invest in real estate, but good planning and flexibility are key to success

Anyone can invest in real estate, but good planning and flexibility are key to success

Real estate investors must be willing to change direction in order to stay afloat or make money.

Regulator nixes push to cut mortgage debt of troubled homeowners

Regulator nixes push to cut mortgage debt of troubled homeowners

WASHINGTON — A key federal regulator has rejected a push by the Obama administration to reduce the mortgage debt of millions of...

Home rental firm enters local market

Home rental firm enters local market

A well-capitalized company in the fast-growing business of turning foreclosed homes into rental properties has purchased its first...

Key question for loan mod: Will it work?

Q: My lender told me I do not qualify for principal reduction on my home loan. I contend that I am not asking for principal reduction;...

Report to call for more stringent protection for Chicago renters in foreclosed properties

Report to call for more stringent protection for Chicago renters in foreclosed properties 

During a typical week last year, 276 Chicago apartments were in buildings that fell into foreclosure, creating upheaval for families who...

Tighter landscaping rules in Naperville draw tepid support

Tighter landscaping rules in Naperville draw tepid support

A Naperville city councilman’s proposal to tighten rules on landscaping at foreclosed homes has been trimmed to only stiffer fines for...

Foreclosure outreach touching few

Foreclosure outreach touching few

Two new reports out of Washington point out what has been a foregone conclusion to many who are the front lines of the foreclosure crisis,...

Mortgage fraud reinvents itself

Appraisal fraud. Mortgage fraud. Foreclosure fraud. Foreclosure rescue fraud. There are so many ways to scam homebuyers, homeowners and...

Navigating the short sale maze

Navigating the short sale maze

Generally speaking, there's almost nothing about a short sale that's short.

Not a ploy when agent states bank's bottom line for REO

Not a ploy when agent states bank's bottom line for REO

Q: We are trying to buy a bank-owned house. The listing price was $115,000, and we offered $90,000 last week. The listing agent wrote back:...

Michael Madigan tax clients unscathed in foreclosure debate

Michael Madigan tax clients unscathed in foreclosure debate

As home foreclosures tear apart neighborhoods throughout the state, an annual battle plays out in Springfield between the banking industry...

Foreclosure homes make up 26% of residential sales, report says

Foreclosure homes make up 26% of residential sales, report says

More than a quarter of U.S. homes sold in the first quarter were bank-owned or in pre-foreclosure, according to a new report from...

Foreclosure activity sinks to a five-year low

Foreclosure activity sinks to a five-year low

Foreclosure activity in the U.S. fell last month to its lowest level since the start of the credit crisis in 2007, driven largely by drops...

Consumer bureau to propose new rules for mortgage servicers

Anyone who has ever fought with a lender over a lost or misapplied house payment should be heartened by the latest news from the new federal...

Law boosts associations' authority in eviction cases

Q: As president of our condominium association, I am aware that the Forcible Entry and Detainer Act allows a condominium association to...

Knowing the difference between HARP and HAMP, and how to get help

Q: The Hope Hotline is for people who are trying to avoid foreclosure, not looking to refinance. We are not able to direct the people to any...

Housing market may be on rebound at last

Housing market may be on rebound at last

The housing market's long, cold winter may finally be heading into a springtime thaw.

Robo-signing deal could be filed in court Friday

Robo-signing deal could be filed in court Friday

A $25 billion federal-state "robo-signing" settlement could be filed in federal court as early as Friday, after which states and the nation'...

Deeply underwater homeowners to get most aid from foreclosure deal

Deeply underwater homeowners to get most aid from foreclosure deal

Homeowners more deeply underwater on mortgages handled by five major U.S. banking firms are prime candidates for getting help from a $25-...

Family finances: New fixes for the housing mess

Foreclosed homes continue to plague communities, the housing market and the economy. Between 2008 and 2011, banks completed 3.2 million...

Foreclosures tick down slightly in February

Foreclosures tick down slightly in February

The number of U.S. homes stuck in foreclosure ticked down slightly in February when compared with the same month a...

'Short sale hell' all too common

'Short sale hell' all too common

Q: I am having a horrible time dealing with my mortgage lender (one of the big five that was just named in the $25 billion foreclosure...

Mortgage underwater? Here's how to stay afloat

Mortgage underwater? Here's how to stay afloat

For the millions of homeowners with mortgages underwater there are no easy answers. Should they keep paying and hope the market improves?...

Debt-relief window closing soon

Debt-relief window closing soon

The window is closing rapidly on one of the most important tax-relief provisions enacted by Congress during the housing crisis to help...

Taking the fear out of foreclosure

Taking the fear out of foreclosure

People fear foreclosure almost as much as they fear death. But unlike death, foreclosure can be prevented.

Foreclosure process caught in state bottleneck

Foreclosure process caught in state bottleneck

More than three years into the housing crisis, the foreclosure process isn't speeding up. It's slowing down.

Some lawyers profit off foreclosure fears, loan modifications

Some lawyers profit off foreclosure fears, loan modifications

A loophole in state and federal laws has made it easy for some attorneys to take advantage of Illinois residents struggling to keep their...

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