Posts tagged "housing crisis"

Housing activists welcome New York Times coverage, want more gender balance

Housing activists welcome New York Times coverage, want more gender balance
In a city still suffering from a housing crisis that ripped through economically disadvantaged black and Latino communities, an article that throws a national spotlight on Chicago activists’ fight to claim empty and dilapidated houses is a welcome acknowledgement of their struggle. In a May 29 article titled “The Death and Life of Chicago,” The... Read more »

Chicago's use of eminent domain to save homes could be longshot

Chicago's use of eminent domain to save homes could be longshot
Despite impassioned testimony from housing advocates and a cameo appearance by actor John Cusack, it’s far from certain that the city will use eminent domain  to keep troubled borrowers in their homes. To start, Mayor Rahm Emanuel has already stated he opposes the idea, which could mean it’s all but a dead issue. After all,... Read more »

New Illinois law to make foreclosure fraud a felony stalls with no Republican support

New Illinois law to make foreclosure fraud a felony stalls with no Republican support
David Lowery, president of the Chicago Far South Suburban NAACP, kept seeing the same problem over and over again. “Our members were coming to us. They were complaining that they hadn’t even missed payments and were being foreclosed on,” said Lowery.  “Some of the people that were being foreclosed on, they didn’t even know the... Read more »
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Vacant homes to rentals has potential but also potential problems

Vacant homes to rentals has potential but also potential problems
Vacant homes are trouble. There’s no doubt about it. From attracting squatters, falling into disrepair or lowering home values, there’s not a neighborhood in this city that doesn’t have empty homes creating problems. More are piling onto the market every day, with little hope of a quick recovery. So the Federal Reserve has decided it’s... Read more »

Daley agrees on compromise to Sweet Home Chicago ordinance

The first time I heard of the Sweet Home Chicago ordinance was on a chilly December day in 2009. A large group of protesters gathered outside of 2nd Ward Alderman Bob Fioretti’s office on a very chilly day, demanding that Tax Increment Financing District dollars be used to fund affordable housing. It was so cold... Read more »

New ordinance could cut affordable housing funds, advocates say

The Sweet Home Chicago coalition has one clear goal: put more money into creating affordable housing for the city. How? By guaranteeing that 20 percent of Chicago’s Tax Increment Finance dollars end up helping to fix up foreclosed properties or create new affordable housing. But the city’s alderman have been reticent. For months, the battle... Read more »
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Unless politicians act quickly, more than 1,000 families may be left homeless

For 1,037 Chicago families, the future all depends on a relatively small, obscure amendment passing through the U.S Senate. Without it, they may just end up without a place to live, uprooted from the communities where they’ve lived for years, because of a short-sighted law passed 40 years ago. They thought that amendment was going... Read more »

Some Chicago homeowners worse off after loan modifications

Imagine your home is in foreclosure. For a lot of Chicagoans, it’s not hard to dream up. One in five homeowners in the metropolitan area are delinquent by at least one month on mortgage payment. Like so many, you don’t want to lose your home, and so you work with a counselor to get a... Read more »

Modern-day homesteading: Taking back foreclosed homes

You’ve probably seen a foreclosed home or two in your neighborhood. Maybe you even have one on your street. Is it a nuisance? Boarded up, sitting vacant, attracting looters or squatters. What if you or your neighbors got fed up and decided to take the matter into your own hands? That’s just what mortgage broker... Read more »
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News Roundup: Chicago Inspector General makes controversial cost-cutting suggestions

In a recent report, Chicago Inspector General Joseph Ferguson suggested that the city cut several programs and subsidies to make up for the city’s billion dollar budget shortfall. Some service cuts could include free sewer service for senior citizens and subsidized water and sewer usage by certain nonprofit organizations. Other recommendations include cutting quarterly stipends... Read more »