Foreclosure Research - Press

April 10, 2012
By Ashley Gross April 10, 2012   This week, we’re examining how a city turns around neighborhoods that have been walloped by the foreclosure crisis.   The housing research organization Woodstock Institute reports that, since 2006, about 100,000 homes have gone into foreclosure in Chicago. But they...
April 9, 2012
By Nick Carey April 9, 2012   Mercedes Robinson-Duvallon turned 83 in February, but there was little time for celebration.   On her birthday, as she sat in a wheelchair recovering from surgery, sheriffs' deputies arrived to evict her from the Miami home where she has lived since 1966. A year...
March 6, 2012
By Anna Maria Andriotis March 6, 2012     Foreclosures and other distressed properties account for more than a third of all home sales, and data released today suggests that figure may soon grow even bigger.   Lenders in January took back nearly 91,100 distressed properties, which includes...
February 25, 2012
By Maudlyne Ihejirika February 25, 2012   Only strident remedies — such as a national moratorium on foreclosures and offering financial aid to “underwater” homeowners — can help stem a crisis sending severe reverberations through poor and minority communities, members of an Operation PUSH panel...
February 14, 2012
By Alison Burdo February 14, 2012   Homeowners’ aggravation continues despite the $25 billion foreclosure settlement the federal government reached last week with five mortgage servicers to compensate for loan servicing and foreclosure abuses. Borrowers, like Vivian Ojikutu, await more information...
February 13, 2012
By Blair Kamin February 13, 2012   Cicero, infamous for its history of corruption, and Jeanne Gang, famous for her futuristic buildings, would seem an unlikely pair. But something unexpected has brought them together: America's foreclosure crisis.   On a recent morning, Gang drove her gray Toyota...
February 13, 2012
By Dawn Turner Trice February 14, 2012   Morgan Davis, 26, who's black, grew up in west suburban Oak Park, a community long praised for its work on behalf of maintaining racial diversity.   Patricia Fron, 27, who's white, grew up in southwest suburban Alsip, a predominantly white, working-class...
February 10, 2012
By Matthew Blake February 10, 2012   A coterie of Illinois housing advocates say a foreclosure settlement made with five big banks does not do enough to hurt the financial institutions or help struggling homeowners.   “The punishment doesn’t fit the crime,” argues Kristi Stanford, spokeswoman from...
February 9, 2012
By Jamey Dunn February 9, 2012   Under a national settlement reached by states and five of the nation’s largest banks, Illinois would get $1 billion in relief for borrowers whose homes are in danger of foreclosure.   The $26 billion settlement announced today came in response to the nation’s...
February 9, 2012
By Sandra Guy February 9, 2012   Just because you are behind on your mortgage payments or owe more on your home than it is worth doesn’t mean you will see relief from a historic $25 billion settlement that federal officials and state’s attorneys general announced Thursday with the nation’s five...
February 7, 2012
By Matthew Blake February 7, 2012   Illinois Gov. Pat Quinn recently introduced a new pilot program to rehabilitate vacant, foreclosed upon properties in Cook County and give assistance to homeowners.   The multi-pronged Illinois Building Blocks program comes in addition to a menu of local, state...
January 31, 2012
By Yana Kunichoff January 31, 2012     From the window of Ruth Long's apartment in Chicago's Edgewater neighborhood, where she has lived for 33 years, Long can see a McDonald's where a man was shot, a building from which five families were forced out by development before the housing crash, and a "...
January 25, 2012
By Jon Prior January 25,  2012   Even if the promising mortgage refinancing plan President Obama announced Tuesday night passes Congress, critics say it will fall short of solving the deepest housing problems.   The White House did not release great amounts of detail, but the plan would help...
January 23, 2012
By Yana Kunichoff January 23, 2012     Chicago is a city of neighborhoods, and Mayor Rahm Emanuel couldn't agree more: This year, he began the second section of his neighborhood-based redevelopment plan that focuses recovery on some of the hardest-hit communities.   Humboldt Park, Chatham, Chicago...
January 23, 2012
By Megan Cottrell January 23, 2012   This program might just be the best hope we have of moving forward in this housing crisis, especially in devastated neighborhoods. But it's also another twist in the history of real estate and race, one that strikes me as a bit ironic and disturbing.Is it just...
January 10, 2012
By Mary Morrison January 10, 2012     Chicago is near the top of one list that won’t generate much civic pride: the number of foreclosed homes the federal government owns and has and put up for sale.   The Chicago area is among six U.S. metropolitan areas with the most foreclosed homes that have...
December 14, 2011
By Mary Ellen Podmolik December 14, 2011   The Cook County Board on Wednesday passed a vacant building ordinance that largely mirrors one adopted by the city of Chicago and now the subject of a federal lawsuit.   The county measure, passed without opposition, requires a property's mortgagee to pay...
December 14, 2011
By Lisa Donovan December 14, 2011   Owners of problem vacant buildings across stretches of unincorporated Cook County will have to clean up their act or pay fines of up to $1,000 a day under a measure passed easily by the county board Wednesday.   Before the vote, elected leaders and community...
December 1, 2011
By Mary Morrison December 1, 2011   New Chicago-area loans insured by the Federal Housing Administration fell dramatically last year.   Lenders made 32,413 FHA-insured loans to local homeowners in 2010, down almost 36% from 50,504 in 2009, according to the Mortgage Bankers Assn. That figure...
November 8, 2011
November 8, 2011     The Interfaith Housing Center of the Northern Suburbs recently was awarded a $52,500 grant to notify homeowners in foreclosure in the North Suburbs of free help that is available.   The center is hiring two people to begin this month contacting homeowners who already have...
November 3, 2011
By Megan Cottrell November 3, 2011     In late July, the Chicago City Council passed an ordinance designed to clean up the thousands of vacant properties left decaying in the wake of foreclosure crisis. That ordinance would hold lender and mortgage servicers accountable for the maintenance of...
November 3, 2011
By Mary Morrison November 3, 2011     The Chicago-area homeownership rate edged lower in the third quarter, a trend likely to continue as more people lose their homes to foreclosure and others either can’t get a mortgage or are afraid of buying.   The percentage of local homes occupied by their...
November 2, 2011
By Amy Biegelsen November 2, 2011   Raccoon infestations. Squatters. Fires. Drug dealers.   Second Ward Chicago Alderman Robert Fioretti has a lot of headaches thanks to vacant properties in his district. The foreclosure crisis has only compounded them.   The thing that really gets Fioretti,...
November 1, 2011
By Angela Caputo November 1, 2011   When Stephen Henry moved back to Roseland in 2009 to pastor the church he’d grown up attending, one of the first things he did was size up the neighborhood. The technology consultant-turned-pastor hadn’t lived there in more than two decades after moving to...
October 25, 2011
By Mary Morrison October 25, 2011   A federal program to modify delinquent home loans is helping more struggling local homeowners than it did last year but still not enough, according to local housing advocates.   More than 35,700 Chicago-area home loans were modified permanently through the...
October 25, 2011
By Kyle Clapham October 25, 2011 At first glance, recent data suggests dramatic improvement in Chicago-area foreclosures.   In the six counties that comprise the region, there were 8,515 foreclosure auctions in the first half of 2011, a 51 percent drop from 17,331 during the first half of 2010,...
October 20, 2011
By Kerry Curry October 20, 2011 Poverty rates rose to 15.3% in 2010 from 14.3% 2009 as the nation's economic malaise and housing crisis persist, according to Census Bureau data released Thursday.   Some 3.3 million more people were living in poverty in 2010 than in 2009 — or 46.2 million people...
October 19, 2011
By David Unger October 19, 2011   At a Chicago city council committee meeting Monday, Ald. James Balcer (11th) raised a seemingly simple question. The topic was proposed changes to the city’s vacant property ordinance.   “If you’re in foreclosure,” he asked, “up until the bank takes possession,...
October 3, 2011
By James O'Shea and Bridget O'Shea October 3, 2011     In November 2004, Wanda Carter bought a home at 6548 South Morgan Street on the South Side and thought she got a good deal.   A bank lent her $142,000, which covered the sale price and loan fees, and provided $20,000 to fix up the place. To...
September 30, 2011
By Jennifer T. Lacey September 30, 2011 When the property at 4845 W. Van Buren St., went into foreclosure this year, it became one more address on a growing list of abandoned properties in Austin.   With its crumbling facade, the two-flat sits on a well-shaded, quiet street among vacant lots and...

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