"Immigration, economic expansion and demographics all drive the demand for homeownership. Over the next 10 years, one way or another, the US population is expected to grow by over 26 million people. They will create 15 million new households. They will demand 2 million new homes built every year. I believe as the current cycle works itself out, and the correction turns to recovery, home price growth will reassert itself at sustainable rates." He adds, "The question for the state of the economy is simply whether we pull together and deliver a recovery sooner, or we wait and hope until later, at the cost of time, money and human suffering. The state of American business in 2008 and beyond will depend on the choices we make about housing today."
Fannie Mae president and chief executive officer
Daniel H. Mudd 1-8-08
.30% of all the US housing units as of 2006 are in trouble and
needed the new Federal law passed this week. (yes, that is point 30%)
Of the US housing units as of 2006 Illinois has 4.12% of those units.
Less than 2% of the total US housing units were/are in foreclosure trouble.
This is a test Link
October 29, 2008
Mortgage fraud shakedown. The Chicago FBI tells IAR that mortgage fraud has been identified as a “serious threat” affecting entire communities as well as financial institutions and the lending and real estate industries. Read How do you report suspected mortgage fraud? Provide as many details as possible when calling the mortgage fraud hotlines below including property address, suspect name(s), company name(s), and nature of the scheme.
- FBI Chicago Mortgage Fraud Hotline: 312-421-6700
- HUD Mortgage Fraud Hotline: 800-347-3735