Woodstock Institute identifies trends and impacts of the foreclosure crisis and works to limit foreclosures’ negative effects on communities.
This report summarizes some of the successes of the work of the organizations that participated in the Regional Housing Partnership (RHP), which was supported by the Chicago Community Trust.
This report examines the development, implementation, and modification of the Circuit Court of Cook County Mortgage Foreclosure Mediation Program as it related to the court process for handling foreclosure cases to learn lessons that may be applied to address the negative impacts of the next crisis.
In this first part of our Theory of Change series of blog posts and images, Woodstock President Dory Rand explains the ways in which Woodstock Institute is working to achieve our mission of creating a just financial system in which lower-wealth people and communities, and people and communities of color, can achieve economic security and community prosperity. In this series, our research and policy staff will discuss the strategies we use to effect positive, lasting financial systems change.
Illinois’s legislative session is in full swing, and Woodstock is monitoring many bills that fall within the scope of our mission: to create a just financial system in which lower-wealth persons and communities as well as people and communities of color can achieve economic security and prosperity. Here are some of the bills that we are supporting this session.
The Chicago six county region had an 11.2 percent decline in foreclosure filings, and Chicago a 9.6 percent decline, between 2014 and 2015. Chicago Community Areas with the greatest declines from 2014 to 2015 include Armour Square (60 percent), Forest Glen and Oakland (43 percent), and Irving Park (39 percent).
Presented by Spencer Cowan at the South Side Builders Association
By Maureen Foertsch McKinney
Tristian Ellis’ test scores in reading and math dropped dramatically this fall from last. The difference: the Ellis family had its own apartment last year. Now, the family of four stays in a shelter on Chicago’s far north side.
By Dan Weissman
Homes that are underwater — mortgaged for more than they’re worth — represent a much smaller fraction of the housing market than they did a few years ago, according to a new report from RealtyTrac, a real estate data company. However, some parts of the country are doing much better than others.
By James Fuller
The millions lost by expelling federal inmates from Kane County jail can all be balanced out with corresponding expense cuts, according to Kane County Sheriff Don Kramer. But he's still going to need an additional $800,000 to stay out of the red this year.
By Cara Ball
James Woods is enjoying the renovations recently made to his Austin home.
The 45-year resident of Austin was one of dozens of West Siders whose homes got special attention April 25 from Rebuilding Together Metro Chicago, a volunteer organization that works to revitalize low-income housing and communities.
By John Gamino
322 South Laflin is a brick, two-story apartment building with broken windows and an unlocked front door. It wouldn’t look inhabited save for a few bottles of shampoo visible in one of the windows of the upper floor. It completed foreclosure in June of last year, when, like most foreclosures, it was sold back to the mortgage lender, Selene Finance LP.
By Teresa Puente
From an antique mall on the far North Side’s Edgewater to Mexican restaurants in the Lower West Side’s Pilsen and homes on the SouthSide’s Marquette Park, where the Rev. Martin Luther King Jr. once marched for housing justice, there are “Chuy” signs.
By Shawn Davis
RSI started running three foreclosure mediation programs in 2014, which means we’ve spent a lot of time over the last year thinking about how to make mediation services more accessible and increase program usage rates. Such issues can be a challenge and often require creativity, especially with limited resources. Here’s what we’ve learned:
By Alana Semuels
CHICAGO—When he moved back to Chicago after being away for 15 years, Maurice Samuels, 40, never thought he’d live in Woodlawn. He grew up in the area on the South Side of Chicago, and remembered its deterioration well. When he left in his twenties, Woodlawn "used to be run down," he said. There were vacant homes and walking around, he said, you didn't feel safe.
By Amie Schaenzer
As the Chicago area continues to dig itself out from a housing crisis that has hit the suburbs hard in recent years, the first half of 2014 did bring some good news.
By Jessica Wenck
Imagine coming home from work one day to a note on your front door saying your home was no longer yours because it had gone into foreclosure.
By Michael Romain
The detrimental effects of foreclosed properties in neighborhoods is well-documented. They often drag down the real and assessed values of properties within their vicinity; they put a strain on municipal budgets in various ways, such as the necessity of extra policing and upkeep; and they taint a community’s overall appeal.
By Ellyn Fortino
Chicago's six-county region recorded 13,916 new foreclosure filings in the first half of 2014, a nearly 38 percent drop from a year ago and the lowest level reached since 2007, according to a report by the Woodstock Institute.
By Steven Jack
Foreclosures in the Chicago area continue to decline, according to newly released real estate research that indicates foreclosure filings in the first half of 2014 decreased nearly 40 percent from the same time one year ago.
By Robin Amer
When James Kpoto bought his house in Minneapolis’ Jordan neighborhood in 2001, he knew he had made a terrible mistake. He moved to the 2300 block of Ilion Avenue North at the advice of his uncle, also an immigrant from Liberia. But his uncle didn’t tell him how bad crime was there — worse than in most other areas according to police data.
“There were shootings and killings almost every day,” Kpoto recalls. “It was scary.”
By Brian Honea
The number of foreclosure filings in a six-county region in Illinois that includes Chicago dropped by nearly 38 percent from the first half of 2013 to the first half of 2014, falling to its lowest level since 2007, according to data released by the Woodstock Institute on September 4.
By Mary Ellen Podmolik
Initial foreclosure filings during the first half of the year were at their lowest level in the Chicago area since 2007, new data shows, but getting homes through the process and out on the other side continues to slow the local housing market's recovery in some communities more than others.
Completed foreclosure auctions decline gradually
By Steve Sadin
Lake County Circuit Judge Mitch Hoffman of Highland Park has been stemming the tide of foreclosure suits one home at a time, taking his message about the court’s Mortgage Foreclosure Mediation Program on the road.
CHICAGO—The Director of the Federal Housing Finance Agency, Mel Watt, will visit Chicago today to urge homeowners to apply for the Home Affordable Refinance Program (HARP). HARP provides refinance opportunities to homeowners who are current on their mortgages and whose homes are worth less than the outstanding mortgage debt (also known as being underwater). In the absence of a program such as HARP, mortgage lenders do not typically approve refinances for homeowners with underwater homes.
Nearly a year ago, Woodstock launched our online data portal in order to deliver meaningful data on the Chicago six county region for our community partners in a user-friendly way.