The $25 billion mortgage settlement with big banks means about 1$ billion in relief to Illinois homeowners.People who owe more than their homes are worth and have fallen behind on payments may qualify for loan reductions, while other people who are underwater but current on their loans may be able t
The real estate market is moribund. Prices have plummeted. So who knew that people were still making big bucks from flipping properties?Turns out, speculators have found new ways to profit amid the wreckage of the housing boom.
Updated on 11/15/11 at 11:20 a.m.A new study shows that Cook County’s persistent shortage of affordable rental housing has gotten even worse in recent years.For years, the constraint on affordable housing came from the overheated real estate market.
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
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.
There’s not a whole lot to laugh about when it comes to the housing crisis.But tonight, neighbors in one condo association aim to find humor in their misery – and raise some cash to help them out of their financial hole at the same time.Say you live in a condo building with a third of th