| Apr 5, 2014
| 5:00 AM
The real estate market has long worked on a simple system: If you want to buy a new house, sell the old one and use the equity for a down payment.
But the last few years of low ownership costs and rising rents have some move-up buyers trying a new...
| Mar 10, 2014
| 5:09 PM
The undercover informant who secretly recorded meetings with Ald. Howard Brookins as part of an FBI sting testified Monday that he also wore a wire for authorities after his 2008 arrest in a federal mortgage-fraud investigation.
Mhde Askar, who...
| Jan 25, 2014
| 8:44 PM
WASHINGTON — As Ben S. Bernanke walks away from the Federal Reserve's marble headquarters on the Mall after presiding over his last policy meeting Wednesday, he will leave behind a bittersweet legacy.
On one hand, his unprecedented efforts to...
| Dec 20, 2013
In the historic Golden Dome field house in Garfield Park, bank executives and charity leaders gathered in August to trade hugs and self-congratulatory speeches.
Nonprofit groups on the West Side were helping restore communities by renovating homes...
| Jan 10, 2013
| 9:13 AM
Government officials are unveiling new mortgage lending guidelines designed to curtail risky loans that led to the housing bust.
From the Chicago Tribune: For most borrowers, the rules will mean no more interest-only mortgages, no more loans where...
| Aug 8, 2011
| 5:27 PM
Investors watched stock markets swoon and economists fretted about the nation's fragile recovery on the first day of trading after the unprecedented downgrade of the nation's credit rating.
But amid the gloom Monday were a few bright spots for consumers:...
| May 6, 2011
Your mortgage payments are up to date, and you pay your bills on time. Your credit score is above average.
Uh-oh. Could be trouble.
How could this be a problem? Alas, we live in a surreal age, creditwise. If you have those good credit characteristics...
| Dec 9, 2011
| 8:13 AM
For homeowners looking to upgrade — or downsize — their residences, it's a difficult chicken-or-egg question: Which comes first, buying a new place to live or selling an old one? Each situation presents a potentially thorny set of issues.
| Dec 21, 2011
| 1:08 PM
WASHINGTON—Illinois Atty. Gen. Lisa Madigan and federal officials today announced a $335 million national settlement with Bank of America stemming from former mortgage giant Countrywide allegedly steering minority borrowers into subprime loans and...
| Jan 6, 2012
Like many homeowners, John Kennedy bought his Chicago condo when home prices were high. But when he got married and wanted a bigger place, selling his condo seemed out of the question because he owed more on his home than it was worth.
The solution for...
| Jun 20, 2011
| 3:53 PM
Two DuPage businesswomen who illegally used money from customers at their Wheaton title company for their personal use each were sentenced today to 10 years in prison and ordered jointly to pay $1.8 million in restitution.
Pamela Williams, 58, of Darien,...