By most measures, the U.S. housing market’s rebound from its recessionary slump remains intact. Recent data continue to trend up, with CoreLogic reporting June 3 that its home price index rose by 10.5 percent in April from a year ago, although the gain was less than the 11.1 percent rise in March.
Welcome Home Illinois is a limited initiative, with about $30 million reserved to fund the down payment assistance component of the program. Its goal is to assist about 3,000 buyers throughout the state, according to Cami Freeman, director of marketing and communications at IHDA.
In case you didn’t know, the sun has set on many real estate related tax provisions as the clock struck midnight on New Year’s. And their elimination could change the way you do taxes in 2014.
New guidance by the U.S. Department of Housing and Urban Development (HUD) put into place August 15 jumpstarts the process of returning to home ownership for prospective buyers who previously went through foreclosures, short sales or bankruptcies.
Although government-backed mortgage enterprises Fannie Mae and Freddie Mac backed roughly nine out of 10 mortgages last year, the drive to make them go away is gaining traction on Capitol Hill.
Of the 50 metro areas that had the highest share of working households with a severe housing cost burden in 2011, Chicago ranked number 12
For residents of Cook County and most of the surrounding Chicago suburbs, the (FHA) loan limit on a single-family residence for 2013 has climbed to $410,000
With mortgage rates lingering at their historic lows, there is infinite possibility (and opportunity!) for first-time home buyers and previous homeowners to take advantage of great deals in Chicago real estate. But there are still a few details to straighten out on your end.
According to the Federal Housing Finance Agency (FHFA), the number of refinancing projects fulfilled through the Obama administration’s mortgage finance program has more than doubled since last May. On top of this positive news, mortgage rates are continuing to plummet, leading experts to believe that the trend will continue.
Inheriting a Chicago home and in turn re-gifting it to a family member sounds like a straightforward endeavor, but beware—there’s serious red tape involved. Here’s a scenario: your sibling just graduated college, can’t find a job and is down on her luck, so you decide to let her to live…
Most home buyers realize that when getting a mortgage loan, the bank runs a credit check to determine your payment history, level of debt, etc. A positive credit report score often means that your loan will be approved. But there is still room for caution, as described below. In many…
Have you heard about Obama’s Loan Modification Plan? The program is meant to help Americans who are struggling to cover their mortgages by securing payment schedules that are more manageable with their current situations. Definition of Loan Modification: Simply put, a loan modification is a process in which the terms…