Chicago Mayor Rahm Emanuel Wednesday announced a new foreclosure initiative that relies on community groups to identify abandoned properties.Standing in front of a rehabbed bungalow home in the Auburn-Gresham neighborhood, Emanuel laid out details for what the city calls the Micro-Market Recovery Pr
The city of Chicago could be near the end of a five-year legal battle for control of a former industrial site with potential to help form a 24-acre park. If an eminent-domain settlement holds up, the land could be an asset for a Mexican-American area of the Southwest Side.
A new report suggests Illinois' rate of home foreclosure fell 3.5 percent between June and July. The RealtyTrac Group said the foreclosure rate is now almost 50 percent lower than last year. But there's still some bad housing news: a report from the Illinois Association of Realtors sa
On any given day, the Cook County Jail holds hundreds of inmates picked up on criminal charges who also happen to be wanted for an immigration violation. Sheriff Tom Dart’s office keeps them up to 48 hours beyond when the criminal cases would allow them out.
When you are the nation's largest owner of foreclosed homes, even little things can get expensive fast. Such is the case for mortgage giant Fannie Mae, which as of March 31 had a mind-boggling 153,000 foreclosed homes on its books.One example — mowing the lawn.
The role of fraud in the housing crisis is getting attention this week at a Chicago gathering of attorneys general from states across the country.Since last year, the AGs have been looking into procedures of the nation’s largest mortgage servicers, led by Bank of America, Wells Fargo and JPMorgan Ch