Posts tagged "Mortgages"

Positive news on the negative equity front

According to the latest CoreLogic statistics, 30.1% of all homeowners with a mortgage in the Chicago-Joliet-Naperville area owed more on their homes than they were worth, i.e. they were in “negative equity” territory. That’s the bad news. The good news is that there was a significant decrease in the number of local homeowners in negative... Read more »

Don't take FHA approval for granted

In 2006 the Federal Housing Administration (FHA) insured only 1 in every 50 new mortgage loans in Chicago. In 2009 the FHA insured one in every 5 new loans, and in 2010 one in every 7 was FHA-insured, according to Mortgage Bankers Association data reported by Crain’s. The availability of an FHA-backed mortgage is still... Read more »