press release

This week: What’s next for housing finance?

The U.S. Department of the Treasury recently released a report to Congress outlining three options for the future structure of the housing finance system. Panelists will discuss current challenges facing mortgage lending and the impacts of potential changes to housing finance on access to credit for affordable housing, rental housing, traditionally underserved groups, and more.

Call for Nominations: Woodstock’s 2011 Community Investment Award

Written by Tom Feltner on March 14, 2011 - 2:08pm

At Woodstock’s annual Community Investment Reception to be held in Spring 2011, we would like to recognize the accomplishments of community-based organizations, financial institutions, and the media that exemplify what it means to work locally with a national impact.

Please consider taking a moment to share with us those members of the economic justice community for this important award.

Woodstock Institute, Chicago area nonprofits present foreclosure prevention proposals to Senator Dick Durbin in Roseland

Woodstock Institute Senior Vice President Geoff Smith presented the findings of a new report that found that thousands of foreclosed, vacant homes in the City of Chicago are likely poorly maintained, lack clear ownership, and threaten to destabilize neighborhoods. “The steward relationship between loan servicers and the homes in our neighborhoods is broken,” noted Smith.

Chicago region foreclosures continue to rise in 2010, despite year-end “robo-signing” moratoria

The data show that:

Growth in new foreclosure filing activity continues to be concentrated in the region’s middle- and upper-income urban and suburban communities.

Counties with the greatest increases in new foreclosure filings between 2009 and 2010 include McHenry County (33 percent increase) and Will County (21.4 percent).

Don’t let the Payday Grinch steal your holidays

Like the Grinch of Whoville fame, the Payday Grinch can put a real damper on the holiday season. Instead of stealing gifts and holiday ham, the Payday Grinch offers short-term financial products with high fees that can sap working families’ assets and threaten their financial security. Families are struggling to make ends meet, between the weak economy and the pressures of holiday shopping, so the temptation to visit the Payday Grinch can be particularly strong.

Was the financial crisis caused by criminal activity? Come see “Plunder” and join the debate

That’s the question that journalist and filmmaker Danny Schechter asks in his latest film, “Plunder: the Crime of our Time.” “Plunder” argues that the financial crisis was built on a foundation of criminal activity in the housing market, not just poor underwriting or unsustainable mortgage products.

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