Chicago Mortgages

The cash-strapped Museum of Broadcast Communications will have more time to pay off its newhome after receiving a three-year extension on its mortgage, according to an email this week from founder Bruce DuMont. “We are moving forward,”...

Many segments of the local housing market continue to bounce along the bottom or suffer small declines, but purchase demand for small rental buildings is on the increase and with it, the prices. Selling prices on two- to four-unit buildings in Cook...

A land bank that would acquire, manage and repurpose vacant and abandoned properties in Cook County is one step closer to reality. Two months after its formation, an advisory committee appointed by Cook County Board President Toni Preckwinkle is...

The easy way to shop for a mortgage is to compare interest rates or search for the lowest monthly payments. But that's not the best way, and an awful lot of homeowners are paying more for a mortgage than they should be because it's hard to directly...

The Illinois attorney general's office filed lawsuits Tuesday against two companies, alleging they bilked struggling Chicago-area homeowners by charging them for "forensic mortgage loan audits.'' The companies convinced homeowners that an audit of their...

This story contains corrected material, published Dec. 11, 2012. Although she is an attorney with decades of experience, Mary Flynn joined the ranks of the unemployed after the social services agency she worked for cut jobs this year. Unable to keep up...

More homes were sold in the Chicago area last month than in any October since 2006, fueled by low interest rates and buyer sentiment that prices may finally be stabilizing and, in some areas, moving off the bottom. Sales of existing single-family...

Almost 8 percent of home mortgage loans in Illinois were delinquent at the end of September, and the state remains one of the worst in the nation for foreclosures, the Mortgage Bankers Association said Thursday. The group's quarterly delinquency...

A Pilsen neighborhood group has partnered with a North Carolina-based federal credit union to acquire almost 1,100 Chicago-area mortgage loans, with the goal of preserving homeownership in several largely Hispanic communities. Self-Help Federal Credit...

A Yorkville homeowner's lawsuit alleging that her lender botched her efforts to modify her mortgage will be allowed to proceed and she can seek class-action status, a federal court judge ruled this week. The Monday ruling by U.S. District Court Judge...

Rents are up. Home price declines are shrinking. Mortgage rates are so low they're hard to believe. The situation is prompting would-be homeowners to ask themselves whether this is the time to buy. But they're also asking themselves whether they're truly...

More than a third of potential borrowers would be willing to pay a higher rate if the mortgage came with superior service, according to a new survey. The poll by the Carlisle & Gallagher Consulting Group didn't say how much more the 34% were willing to...