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September, 2007
January 1994–"Planning begins for the Chicago Empowerment Zone. City officials hold meetings with more than 200 community, government and business leaders.
June 30, 1994–"Chicago submits its application to the U.S. Department of Housing and Urban Development.
December 1994–"Mayor Richard M. Daley announces that Chicago will receive $100 million in federal Empowerment Zone funds and $37...
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September, 2007
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September, 2007
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September, 2007
Black and Latino homeowners received high-cost loans from prime lenders in 2005 far more often than their white and Asian counterparts.
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September, 2007
In 2005, African American and Latino homeowners accounted for a far larger share of individuals who got mortgages from subprime lenders, companies that specialize in high-cost loans.
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September, 2007
As Illinois senators convened to discuss gaming last week, state Sen. Jacqueline Y. Collins of Chicago left the floor, headed to Gov. Rod Blagojevich's office and placed in his hand two letters in support of SB 1167–"her bill that would require homebuyer counseling for thousands of Cook County residents in an attempt to stem foreclosure and thwart predatory lending.
The letters represented...
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September, 2007
A son of Mexican immigrants, Agustin Villegas became the first person in his family to purchase a home.
Villegas, 30, had owned that west suburban Berwyn home for about four years when his aunt and uncle sought his assistance in purchasing a west suburban Franklin Park residence about two years ago.
Villegas agreed to co-sign with his uncle. But when Villegas went to fill out the...
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September, 2007
"The Chicago Reporter's detailed analysis of this data raises huge questions about the fairness of lending practices in the Chicago region. Over the coming months, my office will continue to take a hard look at this data and investigate whether the number of high cost loans, which generally equate to subprime loans, is attributable to questionable lending practices and whether these practices...
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September, 2007
Among the Chicago metro area's top 10 lenders for prime-rate mortgages in 2006, black and Latino homeowners often received high-cost loans at disproportionate rates. And for lenders who rarely granted high-cost loans, black and Latino consumers were typically underserved compared to the metro area's totals.
Click here to download an Excel file containing figure for the 10 lenders.
Note...
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