Chicago Mortgages

The same mortgage crisis that helped bring about a major recession in 2008 has also wreaked havoc on South Bend’s vacant house problem. That brutal recession left plenty of homeowners unemployed. Without income to pay their mortgages and unable...

Depending on the status of the real estate market the advice regarding renting versus owning can fluctuate, but for older adults ready to make a move, the state of the economy isn't the only consideration. For some they have been living in the same...

It's been two years since the Chicago Association of Realtors conducted an economic briefing for its members because, frankly, any forecast revolved around rising foreclosures and falling home values. But this month, real estate agents gathered in...

In the fight against foreclosure, there could be hope for the underdog. The California Homeowner Bill of Rights went into effect on January 1, and real estate experts say this could be a win for homeowners everywhere. The series of laws includes...

New mortgage servicing rules set to be announced Thursday will provide homeowners with more information about their mortgages and their options should those loans become unaffordable. But the rules that will be detailed by the Consumer Financial...

More than 7,000 homes were sold in the Chicago area last month, capping the best finish for a year since December 2006, just before the local housing market's bubble burst. Despite concerns about federal budget negotiations, unemployment and possible...

Hundreds of would-be homeowners stepped forward in the final two months of last year to claim $15,000 down payment assistance grants from Wells Fargo & Co.'s CityLift program. With no waiting list being kept and the funds all reserved, the program...

The Chicago area's housing market saw the ever-so-small beginnings of a turnaround last year, as excess inventory started to be absorbed and price declines moderated and even showed improvement in some areas. On New Year's Day, the Mortgage Debt...

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...

They're back: Construction cranes. In downtown Chicago. Lots of them, a visible sign of the more than 2,600 luxury rental units that will be added to the apartment market this year. About every downtown neighborhood has a project in the works or in...

Six years after the housing bubble burst, federal regulators are trying to restore confidence in the nation's mortgage industry while continuing to remedy past ills. On Monday, the Office of the Comptroller of the Currency announced an $8.5 billion...

An asking price on a home, particularly in the current market, can be far different from the price it ultimately sells for, but trends in asking prices offer insight into a home seller's confidence and the market's direction. On a national level,...