foreclosure

Home Values Rising, But Homeowners Still A Long Way From Flush

Adam Allington — Thu, 21 Mar 2013 09:30:00 +0000

So, another week, and yet more news the U.S. housing market is slowly returning to normal.

Numbers released on Tuesday by the Commerce Department show that builders broke ground on homes last month at a seasonally adjusted annual rate of 917,000. That's up from 910,000 in January. And it's the second-fastest pace since June 2008, behind December's rate of 982,000.

Illinois Increasing Mortgage Assistance Funds

The Associated Press — Sun, 17 Mar 2013 16:28:23 +0000

Illinois homeowners facing foreclosure may soon be eligible for up to $35,000 in mortgage assistance.

Gov. Pat Quinn announced that beginning April 1 the Illinois Housing Development Authority is increasing the amount eligible households may receive from the Illinois Hardest Hit program. Currently homeowners may receive $25,000.

Quinn's office says the increase will help an additional 500 families keep their homes.

Judge Halts St. Louis Foreclosure Mediation Ordinance

Rachel Lippmann — Tue, 05 Mar 2013 22:46:35 +0000

Updated at 4:52 p.m. to correct judge's name.

A judge in St. Louis city has halted enforcement of the city's new foreclosure mediation ordinance.

Robert Dierker issued the temporary restraining order today, which prohibits any city officials from enforcing the ordinance. Dierker does take care to note that voluntary participation in mediation is still allowed. A hearing on a preliminary injunction is scheduled for March 20.

The Ins And Outs Of A Hectic Day At City Hall

Rachel Lippmann — Fri, 08 Feb 2013 22:55:13 +0000

The St. Louis Board of Aldermen met today for the last time ahead of the mayoral and aldermanic elections in March and April. Here's what came out (and didn't) of a hectic day at City Hall:

Foreclosure mediation

Aldermen sent Mayor Francis Slay a measure that would require lenders to offer homeowners foreclosure mediation. The homeowners do not have to accept, and there's no requirement to reach an agreement.

Judge Rules St. Louis County Can Move Forward With Foreclosure Mediation Ordinance

Tim Lloyd — Thu, 15 Nov 2012 05:04:13 +0000

Late Wednesday afternoon Associate Circuit Judge Brenda Stith Loftin ruled that St. Louis County does have the authority to enforce a new ordinance that requires banks offer mediation to homeowners on the edge of foreclosure.

St. Louis County Counselor Pat Reddington said their central argument before the court was that they were not trying to regulate banks.

“We’re trying to protect our residents,' Reddington said. "We argued, and the court found, that was in the kind of police power the county has.”