Illinois RealEstateRama

CHICAGO, IL - January 5, 2010 - (RealEstateRama) -- A new free bilingual Web site (ILHousingsearch.org) featuring statewide property listings is available now to help Illinois residents find their next rental home. ILHousingsearch.org was created by the administration of Governor Pat Quinn to allow users to search through a range of features to find a home that fit their needs

CHICAGO, IL - December 30, 2009 - (RealEstateRama) -- The Illinois Department of Financial and Professional Regulation (IDFPR) announced today that starting January 4, 2010 mortgage brokers and mortgage bankers will use the Nationwide Mortgage Licensing System (NMLS) for license applications and renewals. Loan originators will also begin transitioning onto the NMLS for their new individual licensing credentials required in 2010. The national data base ensures that any mortgage loan professionals moving to Illinois will be able to demonstrate competency and a record clear of disciplinary actions in any other state in the nation.

SPRINGFIELD, IL - December 22, 2009 - (RealEstateRama) -- Pent-up buyer demand plus low interest rates and the homebuyer tax credit incentive yielded a second month of double-digit gains for Illinois home sales in November, in stark contrast to home sales one year ago in November 2008. According to the Illinois Association of REALTORS® latest report, statewide total home sales (which include single-family and condominiums) in November 2009 reached 10,361 homes sold, up 64.0 percent from November 2008 sales of 6,317, marking the third consecutive month of year-over-year sales increases in Illinois. The statewide median price in November 2009 was $155,000 down 4.3 percent from $162,000 in November 2008. The median is a typical market price where half the homes sold for more, half sold for less

December 18, 2009 - (RealEstateRama) -- Robert D. Grant, Special Agent-in-Charge of the Chicago office of the Federal Bureau of Investigation (FBI) and Patrick J. Fitzgerald, United States Attorney for the Northern District of Illinois, announced today the filing of criminal charges against four west suburban men in connection with a mortgage fraud scheme.

Springfield, IL - December 15, 2009 - (RealEstateRama) -- More optimism in terms of year-over-year home sales increases is projected in 2010 while the declines in median prices continue but at a lower rate of decline, according to the 2010 Illinois Housing Market Forecast released by the Illinois Association of REALTORS® and prepared by economists from the University of Illinois Regional Economics Applications Laboratory (REAL).

Amendment to Wall Street reform bill will shine light on loan modification process, help working families get straight answers, and prohibit egregious delay tactics or non-disclosure. WASHINGTON, DC - December 10, 2009 - (RealEstateRama) -- Today, Congressman Mike Quigley (D-IL) offered an amendment to provide greater fairness and transparency to homeowners who may have been improperly denied a loan modification on their mortgage without any explanation. The measure, an amendment to H.R. 4173 – the Wall Street Reform and Consumer Protection Act of 2009, was in direct response to horror stories shared by constituents and taxpayers across the country. Quigley’s amendment has the strong support of a broad coalition of consumer advocates, including the NAACP, AFL-CIO, and National Fair Housing Alliance

December 10, 2009 - (RealEstateRama) -- Working to reduce burdens on our families, small businesses, and veterans, Rep. Debbie Halvorson (IL-11) today voted to pass the Tax Extenders Act of 2009, H.R.4213, which would extend a number of tax relief provisions through 2010.The Tax Extenders Act of 2009 contains three pieces of individual legislation sponsored by Halvorson, which were included into the larger bill. The first, H.R. 2146, would extend an additional standard deduction for state and local real property taxes for homeowners, which would save homeowners money on their tax returns.

CHICAGO, IL - December 7, 2009 - (RealEstateRama) -- Congressman Mike Quigley (D-IL) and his staff recently volunteered with the Young Leaders of Korean American Community Services (KACS) at an event to weatherize over a hundred living units for local senior residents

SPRINGFIELD, IL - November 23, 2009 - (RealEstateRama) -- Illinois home sales took a double-digit jump in October as buyers took advantage of unprecedented buyer-market conditions with record low mortgage interest rates, affordable home prices and the federal first-time homebuyer tax credit. According to the Illinois Association of REALTORS® latest report, statewide total home sales (which include single-family and condominiums) in October 2009 reached 10,986 homes sold, up 24.2 percent from October 2008 sales of 8,846. The Illinois median price in October 2009 was $157,000 down 7.6 percent from $170,000 in October 2008. The median is a typical market price where half the homes sold for more, half sold for less

CHICAGO, IL - November 20, 2009 - (RealEstateRama) -- Today, the Illinois Housing Development Authority (IHDA) Board of Directors approved allocating a $1.4 million federal grant to fund free foreclosure counseling help for homeowners throughout Illinois

CHICAGO, IL - November 18, 2009 - (RealEstateRama) -- Thirty-four Illinois homeowners were made whole this month when the Illinois Department of Financial and Professional Regulation (IDFPR) repaid all the money lost from their escrow funds earlier this year. The homeowners were in default for taxes and insurance coverage after Chicago-based American Escrow, LLC went out of business without making the obligatory property tax and insurance payments from their escrow accounts.

MANTENO, IL - November 16, 2009 - (RealEstateRama) -- The Illinois Department of Veterans’ Affairs (IDVA) held an open house today at the Prince Home at Manteno to bring awareness to the resources the State of Illinois provides for homeless and disabled veterans. IDVA Director Dan Grant was joined by State Rep. Lisa Dugan (D-Kankakee) and State Sen. Toi Hutchinson (D-Chicago Heights) at the facility, which was the first in Illinois to provide permanent supportive housing for homeless veterans.

SPRINGFIELD, IL - November 9, 2009 - (RealEstateRama) -- The first-time buyer tax credit built third-quarter momentum as home sales marked the first positive year-over-year increase in more than three years while price declines moderated but continued to be influenced by entry-level and distressed sales, according to the Illinois Association of REALTORS® (IAR). Statewide home sales (which include single-family and condominiums) totaled 32,460, up 0.3 percent from 32,358 home sales in the third quarter of 2008. The third quarter median home sale price was $165,000, down 12.9 percent from $189,500 in the third quarter of 2008. The median is a typical market price where half the homes sold for more, half sold for less.

Washington, DC - November 6, 2009 - (RealEstateRama) -- Rep. Bill Foster (IL-14) voted in favor of the Emergency Unemployment Compensation Extension Act, H.R. 3548, to provide aid to those hurt by the economic recession and to continue his efforts to stimulate the economy. The bill passed by a bipartisan vote of 403-12, and now goes to the President for his signature

November 6, 2009 - (RealEstateRama) -- Congressman Danny K. Davis (D-IL07) today spoke out for, and voted in favor of, extending Unemployment Benefits, the Home Buyer Credit and a Small Business Net Operating Loss Carryback. The vote today approved amendments added by the Senate to the legislation passed by the House of Representatives six weeks ago. The legislation is expected to be signed by President Obama tomorrow. The provisions of the bill include the following.

November 6, 2009 - (RealEstateRama) -- Working to help those hardest hit by the struggling economy, and provide greater opportunities to realize the American dream, Rep. Debbie Halvorson (IL-11) today voted to pass the bipartisan Emergency Unemployment Compensation Extension Act."All across our district our friends and neighbors are in danger of losing their unemployment benefits, and our economy is struggling to recover, this bill is a big step in turning that around," said Halvorson. "By extending these benefits we are helping our communities today so they can be stronger and more prosperous tomorrow.

Washington, D.C. - November 6, 2009 - (RealEstateRama) -- The U.S. House of Representatives voted today to extend two economic stimulus provisions championed by Congresswoman Melissa Bean to aid struggling small businesses and support the recovering housing market.

November 5, 2009 - (RealEstateRama) -- Congressman Phil Hare (D-IL) today voted for legislation that will extend both unemployment benefits and the first-time homebuyer tax credit. The bill now heads to the President’s desk. Hare has been a strong supporter of extending unemployment benefits during this recession. In September, Hare voted to extend these benefits for 13 additional weeks. After being amended by the Senate, today’s bill would extend benefits in Illinois by 20 weeks, where the unemployment rate is currently over 10 percent.

November 5, 2009 - (RealEstateRama) -- Congressman Phil Hare (D-IL) today voted for legislation that will extend both unemployment benefits and the first-time homebuyer tax credit. The bill now heads to the President’s desk. Hare has been a strong supporter of extending unemployment benefits during this recession. In September, Hare voted to extend these benefits for 13 additional weeks. After being amended by the Senate, today’s bill would extend benefits in Illinois by 20 weeks, where the unemployment rate is currently over 10 percent.

Radon Poster Contest launched to increase awareness of radon hazards. SPRINGFIELD, IL - November 3, 2009 - (RealEstateRama) -- November is Lung Cancer Awareness Month, and the Illinois Emergency Management Agency (IEMA) is encouraging people to check their homes this month for a radioactive gas that is the second-leading cause of lung cancer in the United States. Radon gas, which comes from the decay of naturally-occurring uranium in the soil, has been found in homes in every county in Illinois.

CHICAGO, IL - November 3, 2009 - (RealEstateRama) -- Governor Pat Quinn today urged eligible Illinois households to apply for winter heating assistance through the Low Income Home Energy Assistance Program (LIHEAP). The state received $174.6 million in federal funds to assist low-income families for this winter season.

SPRINGFIELD, IL - October 30, 2009 - (RealEstateRama) -- Governor Pat Quinn today recognized hundreds of volunteers for their hard work and dedication towards improving their communities. The Governor’s Home Town Awards were given for 46 projects during a ceremony at the Executive Mansion in Springfield

SPRINGFIELD, IL - October 26, 2009 - (RealEstateRama) -- Statewide Illinois home sales increased year-over-year in the month of September for the first time since March 2006 with first-time buyers driving the rebound in sales. According to the Illinois Association of REALTORS® latest report, statewide total home sales (which include single-family and condominiums) in September 2009 reached 10,350 homes sold, up 3.3 percent from September 2008 sales of 10,018. The Illinois median price in September 2009 was $160,000 down 9.3 percent from $176,450 in September 2008. The median is a typical market price where half the homes sold for more, half sold for less.

October 19, 2009 - (RealEstateRama) -- Congressman Phil Hare (D-IL) today was joined by local citizens and realtors in Moline, Canton, and Macomb to call for an extension of the $8,000 first-time homebuyer tax credit. The credit is set to end on December 1, 2009.

Washington, DC - October 16, 2009 - (RealEstateRama) -- U.S. Representative Judy Biggert (R-IL-13th) today introduced legislation, the Suspend ACORN Certification (SAC) Act, aimed at preventing the misuse of public resources designated for federally-approved housing counseling activities

Washington, DC - October 16, 2009 - (RealEstateRama) -- U.S. Representative Judy Biggert (R-IL-13th) today introduced legislation, the Suspend ACORN Certification (SAC) Act, aimed at preventing the misuse of public resources designated for federally-approved housing counseling activities

WASHINGTON, DC - October 14, 2009 - (RealEstateRama) -- Last week, U.S. Representative Mike Quigley (D-IL) voted to extend the First-Time Homebuyer tax credit for members of the Armed Services who served abroad this past year. H.R. 3590, which extends the credit for qualifying military personnel through November 30, 2010, passed the House of Representatives overwhelmingly by a 416-16 vote. The current tax credit is set to expire on November 30, 2009.

Must Close Before December 1, 2009 to Qualify for Advance Loan on Federal Credit. CHICAGO, IL - October 12, 2009 - (RealEstateRama) -- With the federal tax credit deadline fast approaching, the Illinois Housing Development Authority (IHDA) reminds potential first-time homebuyers to take advantage of the Home Start Tax Advance Loan. The deadline for the loan, which offers up to $6,000 in down payment assistance, is December 1, 2009.

Washington, DC - October 9, 2009 - (RealEstateRama) -- Continuing his efforts help military service members and their families, Rep. Bill Foster (IL-14) voted in favor of the Service Members Home Ownership Tax Act of 2009, which would extend the deadline for utilizing the first-time homebuyer tax credit of $8,000 for qualifying service members that was included in the stimulus. The bill passed by an overwhelmingly bipartisan vote of 416-0.

Washington, DC - October 8, 2009 - (RealEstateRama) -- U.S. Representative Judy Biggert (R-IL-13th) today introduced two related measures aimed at promoting economic recovery by strengthening the housing sector, boosting homes sales, and stabilizing property values. Both bills are fully offset to remain budget neutral and would extend or amplify the popular first-time home buyer (FTHB) tax credit, which is set to expire at the end of November