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A news report from Curtis Black’s Newtips Blog, Community Media Workshop While Shorebank struggles to survive – with regulators hesitating to back recapitalization efforts, according to reports – community investment advocates say “Shorebank is worth saving” and suggest that policies that favor big banks don’t take community needs into account. Meanwhile community groups will demand...
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A news report from Curtis Black, Community Media Workshop Bank of America has objected that a new lawsuit by the Illinois attorney general – charging that the bank’s subsidiary, Countrywide Financial Corp., discriminated by steering minority homebuyers into risky subprime loans – covers practices prior to BoA’s takeover of Countrywide in 2008. But those same...
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A news report from AustinTalks.org Dorothy Daniel, 78, never asked the government for a bailout like Bank of America did. But after making payments on time every month for her home of 40 years, she asked for help before she needed it, and now, Daniels, an amputee, is not only fighting for her life but...
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The message – Step Up, US Bank- was loud and clear Tuesday night at Hope Community Church in Austin as over 150 people gathered to voice their concerns over the foreclosure crisis that has hit hard the West Side neighborhood. Two US Bank representatives joined locally elected officials and community activists in search of a...
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Story by: Regan Crisp May 4, 2009 – Chicago homeowners have suffered greatly from the mortgage crisis. According to the Woodstock Institute, property foreclosures in Chicago increased by 85 percent between 2005 and 2007, and aren’t expected to peak until late 2009. Many of the hardest hit neighborhoods in the city are also receiving...
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Story by: Jon DePaolis April 22, 2009 – The foreclosure crisis has devastated neighborhoods all over Chicago, but as described at a community meeting convened by the Rogers Park Community Development Corporation (RPCDC) March 21, Rogers Park has been one of the hardest hit. It has also received relatively little attention since many of...
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Feb. 26, 2009 – Credit experts active in LISC Chicago’s New Communities Program Foreclosure Response Fund say they’re optimistic President Barack Obama’s plan for modifying bad mortgages will begin to cure Chicago’s alarming epidemic of home foreclosures. They do have one regret: Something like this plan should have been implemented two or three years...
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by Curtis Black, Community Media Workshop June 30, 2008 – Low-income tenants with Section 8 rental subsidies are increasingly facing eviction from properties going into foreclosure — often with no warning, and with fewer protections than other renters have. Often they’ve been paying rent throughout the foreclosure process, with no knowledge that their tenancy...
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