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housing markets and high foreclosure rates, The Federal Reserve System helped to establish what is now known as NeighborWorks …
Persistent link: https://www.econbiz.de/10010726787
, Indiana and the southern suburbs of Cook County, Illinois. At each of these sites, the local foreclosure problem was (self …
Persistent link: https://www.econbiz.de/10010726795
Starting in the second half of 2007,the foreclosure crisis spread quickly across the Chicago area, seriously affecting … communities of color and vulnerable populations. Although some public, private, and nonprofit responses to the growing foreclosure …
Persistent link: https://www.econbiz.de/10010726800
the past-due and foreclosure rates in these neighborhoods. For illustration purposes in the print version of this article …
Persistent link: https://www.econbiz.de/10010726813
On October 17, 2005, a major U.S. federal bankruptcy reform law took effect. This change (the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, a.k.a. the Bankruptcy Reform Act of 2005) had been over 10 years in the making and represented the culmination of years of effort on the...
Persistent link: https://www.econbiz.de/10010726816
Foreclosure rates are defined as mortgages in the foreclosure process as a percentage of all mortgages. These rates … vary fairly dramatically across states. While the average foreclosure rate in the 50 states and the District of Columbia in ….44 percent in Wyoming. One state that has exhibited high foreclosure rates over the past decade is Indiana. Indiana ranked second …
Persistent link: https://www.econbiz.de/10010726826
foreclosures in lower-income communities. Foreclosure is a continual problem in low-income communities; foreclosures have a more … impact of foreclosure than middle- and upper-income households (Schloemer et al., 2006). The current crisis has reached into … foreclosure. These communities have few traditional financial institutions, such as banks and thrifts, and must largely rely on …
Persistent link: https://www.econbiz.de/10010726832
sharp increase in foreclosure starts1 city-wide in the past two years in particular. Foreclosure starts in Chicago rose … longer, and lower-income households have a more difficult time recovering from the effects of a foreclosure. …
Persistent link: https://www.econbiz.de/10010727592
The Federal Reserve Bank of Chicago’s Consumer and Community Affairs department has, since the mid- 1990s, worked with various Seventh District organizations and agencies to address foreclosures and their harmful impact in communities. Most notably, the Reserve Bank has supported and partnered...
Persistent link: https://www.econbiz.de/10010727593
mortgage loans in foreclosure at year-end 2003 (the latest year for which information is available) was over 500,000. This … translates into $25 billion in foreclosure cost for lenders. ; Of course, lenders are just one stakeholder in the foreclosure … alternatives to the foreclosure process? And if so, what are the advantages of using those alternatives …
Persistent link: https://www.econbiz.de/10010727595