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.
More than 10 percent of the rental units in some of Chicago’s community areas are at risk of foreclosure, and those neighborhoods are mostly in African-American and Hispanic communities, according to a new study.The Lawyers’ Committee for Better Housing’s Tenants in Foreclosure Intervention Project
Home prices around the country have fallen into a double dip. After declining around 30 percent from their peak, they started to rise a bit last summer with the help of a federal tax credit.But with that stimulus gone, prices are now sliding again to new lows.
The chairman of the Chicago Housing Authority board of commissioners is donating his $100,000 stipend to a college scholarship fund for public housing residents.James Reynolds is also kicking in another $25,000 of his own money to Windows of Opportunity, the CHA nonprofit, to start a special board o