Ald. Deborah Graham (29th) announced at a news conference Sunday that she will introduce an ordinance backed by the Chicago Teachers Union requiring vacant buildings to be secured during school hours. Public safety advocates insist that vacant buildings, many of which are caught in a legal limbo following foreclosures, welcome dangerous and criminal activity, and [...]
WASHINGTON – Borrowers are making their mortgage payments on time more frequently compared to a year ago, but delinquency rates remain elevated as government efforts to help homeowners fail to keep pace with job losses that push more homeowners toward foreclosure. At the end of the second quarter of this year, 88.0 percent of U.S. [...]
NEW YORK — Kentucky Attorney General Jack Conway has added his name to a list of state law enforcers who fear that a settlement being negotiated among government officials and big banks isn’t backed by a sufficient investigation into potential wrongdoing. As law enforcers approach a deal with banks to settle allegations that the companies [...]
In America, it’s starting to feel as if there are two housing markets. One for the rich and one for everyone else. Consider foreclosure-ravaged Detroit. In the historic Green Acres district, a haven for hipsters, a pristine, three-bedroom brick Tudor recently sold for $6,000 – about what a buyer would have paid during the Great [...]
Victims of the foreclosure mess and housing crisis are taking to the streets — literally. Street demonstrations are being planned in 10 cities, and in the crowd at the first one you are going to see Dixie Mitchell, a 74-year-old cancer survivor who refinanced her paid-off home to help one of the foster kids in her [...]
Amid a crisis that has affected millions, even homes that would seem to be the safest of bets can face foreclosure. Linda Hatchell of Glen Ellyn, Illinois, for example, now faces the prospect of foreclosure on a home she purchased more than twenty years ago for just one dollar, NBC Chicago reports. The foreclosure case is [...]
Robo-signing practices have wreaked havoc across the housing market for some time now, allegedly even leading to wrongful foreclosures. In Hawaii, though, a recent bank-related incident could best be described as robo-dialing. Bank of America reportedly pestered a grieving widow with up to 48 calls per day over a missed mortgage payment after her husband [...]
In the conventional wisdom, there is nothing President Obama can do to put Americans back to work in large numbers. He is a president supposedly held hostage by vengeful politics, holed up in a White House surrounded by lunatics and impotent hacks, with congressional combat rendering meaningful action impossible. Nonsense. There is one thing the [...]
If anyone in America could plausibly claim immunity to the unemployment crisis, Joe Sangataldo figured to be the guy. He earned his wages at a county social services center in southern New Jersey, where he helped jobless welfare recipients try to find work. In a nation beset by relentless decline, here was a rare growth [...]
WASHINGTON — The Obama administration is considering unveiling new plans next week to revive the ailing housing market and reduce foreclosures, including an effort to help troubled borrowers refinance their mortgages. The administration has been working for weeks on how to implement a mortgage relief program. President Barack Obama could include a nod to the [...]
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