The regulator overseeing government-controlled mortgage giants Fannie Mae and Freddie Mac has announced a policy that could make more loan money available to borrowers.
The Federal Reserve struck an encouraging note Wednesday: It will further cut its bond purchases because the U.S. job market needs less help. And it said the economy had strengthened after all but stalling during a harsh winter.
The amount of Chicagoland’s underwater homes, meaning more is owed on the
property than it is actually worth, increased from 33.7 percent in
December to 34.2 percent in March, according to a report from
CoreLogic released Wednesday.
Although the Chicago are saw a year-over-year decrease on homes with
negative equity, there were still almost 645,000 homeowners that owed
more on their mortgages than their homes were worth at the end of
December.
