Chicago Illinois Real Estate Blog

Homeowners who are having trouble with their mortgages seem to get the same advice wherever they turn: at the first sign of trouble, call your lenders and see if you can work out a payment plan. But that means figuring out who owns your mortgage — which is not as easy as it looks.
I have [...]

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Two years ago, Jason Pietrucha read the foreclosure writing on the wall.
The mortgage broker saw California’s growing default rate and prepared for the home-loan tsunami to hit Illinois.
Switching to real estate sales, Pietrucha deals almost exclusively in properties in various stages of mortgage distress. He’s one of a growing number of agents and others who [...]

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WASHINGTON - Rates on 30-year mortgages kept surging this week, rising to the highest level in nearly nine months, reflecting more concerns about what the Federal Reserve will do to combat a growing inflation threat.
Freddie Mac, the mortgage company, reported Thursday that 30-year fixed-rate mortgages averaged 6.42 percent this week. That was up sharply from [...]

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