Mortgage defaults in the Chicago metropolitan area surged in the second quarter, rising 60% from the level recorded in the first quarter, according to ForeclosureS.com, a Fair Oaks, Calif.-based investment advisory firm."As of mid-August, 17,467 homes were in some stage of foreclosure in the Midwestern region that includes Chicago, Gary, Ind., and Kenosha in southern Wisconsin," said Alexis McGee, president of ForeclosureS.com. Ms. McGee said job losses in the manufacturing sector, growing consumer debt, and rising energy costs are "putting the squeeze" on the middle class in the Midwest. The company can be found online at http://www.foreclosures.com.
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25