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Quick Hit
by Michael Joyce
4:51pm
Thu Jul 30, 2015

New Housing Campaign Casts Spotlight On Those At Risk Of Foreclosure, Eviction

Demonstrators gathered outside of several downtown financial institutions this week to launch a social media campaign highlighting the fact that while the financial crisis might be over, many are still at risk of eviction from their homes.

The demonstration began outside of the Citibank on 11 South LaSalle St. Tuesday, where demonstrators chanted, "We got sold out, banks got bailed out."

The ralliers continued on to four other financial institutions in the area: Chase Bank, Bank of America, Wells Fargo, and Fannie Mae.

This demonstration marks the launch of the Fannie/Freddy 99 Coalition's national social media campaign, called "We Are the Faces of Eviction."

PI Original
by Ellyn Fortino
3:07pm
Mon Sep 8, 2014

Chicago-Area Foreclosures Hit Pre-Recession Levels, But The Housing Crisis Is Far From Over

Chicago's six-county region recorded 13,916 new foreclosure filings in the first half of 2014, a nearly 38 percent drop from a year ago and the lowest level reached since 2007, according to a report by the Woodstock Institute. Local housing activists working to help struggling homeowners offer their take on the new data as well as policies meant to stymie the ongoing negative effects of foreclosures.

PI Original
by Ellyn Fortino
12:18pm
Tue Sep 2, 2014

Housing Needs Grow For An Aging America; Low-Income Illinoisans Struggle To Find Affordable Rentals

Progress Illinois takes a look at two recently-released housing reports. One highlights the growing housing needs of America's aging population, while the other examines the shortage of affordable rental units available for low-income households at the state and national levels.

Quick Hit
by Ellyn Fortino
2:47pm
Fri Jul 11, 2014

FHFA: 36,000 Underwater Chicago-Area Homeowners Eligible For Refinance Program (VIDEO)

Thousands of Chicago-area residents are eligible for, but have not taken advantage of, the federal Home Affordable Refinance Program, or HARP, which provides refinance opportunities for certain underwater homeowners.

Nearly 36,000 borrowers in the Chicago metro area are eligible to save between $2,000 to $3,000 annually by refinancing their mortgages as part of the program, according to the Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac.

PI Original
by Ashlee Rezin
11:22am
Wed Aug 21, 2013

Protesters Call On Fannie Mae, Bank Of America To Change Lending, Foreclosure Policies (VIDEO)

Protesters took to a downtown Bank of America branch and Fannie Mae’s corporate offices in Chicago Tuesday to urge one of the nation’s largest home mortgage servicers and the largest home mortgage investor to change their lending and foreclosure policies. Progress Illinois was there for the action. 

Quick Hit
by Aricka Flowers
4:19pm
Thu Jul 18, 2013

Local Groups Voice Displeasure With Kirk's Votes On Nominations

Two local groups have voiced their displeasure with U.S. Sen. Mark Kirk's (R-IL) votes on the nominations of Mel Watt for the head of the Federal Housing Finance Agency (FHFA) and Gina McCarthy for the job of administrator of the U.S. Environmental Protection Agency.

Quick Hit
by Ellyn Fortino
1:17pm
Fri May 17, 2013

Report: Chicago Homeowners Lost $3.1 Billion In Wealth Last Year, Communities Of Color Hit The Hardest

The city of Chicago lost more than $3.1 billion in wealth, or about $2,900 per household, in 2012 as a result of the foreclosure crisis, according to a new report from the Alliance for a Just Society.

And more than $192 billion in homeowner wealth was lost nationally last year, the new analysis shows.

Communities of color in Chicago saw more foreclosures and lost wealth per household compared to other communities.

In 2012, the average Chicago household in zip codes with the highest concentration of people of color lost $3,700 in wealth, the “Wasted Wealth” (PDF) report found.

In comparison, the average wealth lost in segregated white communities was about $1,300 per household.

“Seeing this loss of wealth per household is profound," said the Rev. Marilyn Pagán-Banks, president of IIRON, which also worked on the release of the report. "People of color in Chicago, whose majority equity holdings remain in real estate, have been particularly affected by the crisis.” 

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