One of the nation’s largest banks Friday provided details about an agreement with some nonprofit groups in Chicago-area neighborhoods devastated by foreclosures. The deal, revealed Wednesday by WBEZ, stems from the collapse of Oak Park-based banking chain FBOP Corp.
For a sixth year in a row, foreclosure filings climbed in the Chicago region last year. Collar counties saw big year-over-year jumps. That’s according to data from the housing research group Woodstock Institute.
As the Bears get set to host the Seattle Seahawks in their divisional playoff this Sunday, Chicagoans are starting to come together like they did when the Blackhawks glided toward hockey’s Stanley Cup last spring.The excitement brings to mind some words of a 19th century German philosopher: &l
A new study says banks are choosing to walk away instead of completing some foreclosures, leaving buildings abandoned. The housing research group Woodstock Institute says it identified about 2,000 of these vacant homes in Chicago.
Despite drops in foreclosure activity, Illinois has the ninth highest foreclosure rate in the U.S. and starting this month it's likely to get worse. Over the holidays, many lenders put foreclosures on hold nationwide. But that temporary freeze is over now.
A measure to create more affordable housing in Chicago is coming up for a long-awaited vote today in the city council.The ordinance takes aim at a special pot of money Mayor Richard Daley has used for years for economic development.