April

Blog Posts in April, 2012

  • How Does Foreclosure Affect Children?

    The national foreclosure crisis is often discussed in terms of property values, abandoned properties, and document fraud. However, there are other effects of foreclosure that are not widely discussed. One such effect is impact that foreclosure has on ...
  • Can I Be Arrested For Failing To Pay My Debts?

    The United States abolished debtor's prisons in the 1830s. Less-than-scrupulous debt collectors are using a loophole in Illinois state law to bring them back. The difference between the 1830s and the 2010s is that now, debtors are being jailed ...
  • Illinois Attorney General Lisa Madigan has announced that $20 million of the funds Illinois will receive from the foreclosure fraud settlement will be used to fund legal assistance programs in Illinois. AG Madigan stated: "We need to give homeowners ...
  • Beware of Mortgage Foreclosure Scams

    This is probably one of my most frequent topics on the blog. Every time there is media attention devoted to a new development in the mortgage foreclosure crisis, it seems prudent to restate this warning: beware of mortgage foreclosure scams. With the ...
  • The City of Chicago's Abandoned Property Pivot

    When the City of Chicago first began addressing the challenge of abandoned properties, it was focusing the majority of its efforts on buying, rehabbing, and reselling abandoned properties. However, as WBEZ reports, this was often easier said than ...
  • ProPublica: The Great American Foreclosure Story

    ProPublica has released an eBook entitled, " The Great American Foreclosure Story. " It is available as a web page, and runs about 16 pages of text. They are well worth reading. Of particular interest is a look at why programs like HAMP ...
  • This summer, the Consumer Financial Protection Bureau will formally propose new rules for mortgage servicers. The rules will be finalized by January 2013. The CFPB has released a factsheet about the rules that it is currently considering. You can ...
  • Data Shows Major Spike in Chicago Foreclosures

    If you haven't had a brush with foreclosure yourself in recent years, you probably know someone who has. Although talk of economic recovery seems to rekindle with every other news cycle, long-terms stats regarding foreclosures in the Chicago ...
  • Even though the much ballyhooed foreclosure fraud settlement has been a bit of a letdown, it has not stopped federal regulators from suggesting that fines be levied against eight more mortgage lenders/servicers. The Federal Reserve has recommended ...