Posts tagged "government"

Madigan Joins National Mortgage Fraud Unit

Madigan Joins National Mortgage Fraud Unit
Illinois Attorney General Lisa Madigan on Jan. 27 formally joined a national team tasked with holding lenders more accountable for acts that led to the country’s housing crisis. The group, President Obama’s Financial Fraud Enforcement Task Force, will closely investigate questionable lender acts. She joins U.S. Attorney General Eric Holder, Housing and Urban Development Secretary... Read more »

Get Foreclosed, Get Paid?

Get Foreclosed, Get Paid?
Today’s typical foreclosure results in the property being sold at a sheriff’s sale for less — often, much less — than what the bank was owed on the previous mortgage. But that isn’t always the case. Although it’s rare, sometimes the sheriff’s sale fetches a sale price higher than the note, which results in a... Read more »

Foreclosed Properties Offer Incentives

Foreclosed Properties Offer Incentives
As the summer heats up, so too does competition for homes. Multiple offers on a property — a rarity in recent years — is more frequent today as the spring wave of home buyers starts to join up with the swarms of buyers getting antsy (Chicago Public School families, for example, looking to land a... Read more »
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Experts Predict End of 30-Year Mortgage

The New York Times recently published an article discussing what might happen to the lending market if the government formally elects to shut down Fannie Mae and Freddie Mac in the coming years. The loss of these two government-run lending powerhouses, the article supposes, could signal the end of borrower luxuries like low interest rates,... Read more »