Many of us have heard of the governments attempts to alleviate pressure on the housing market. One such move was to allow homeowners to refinance to 105% of appraised value. This has now changed to allow homeowners to refinance to 125%. Everyone welcome positive moves to help out homeowners but I think everyone agrees it kind of scary that the government, in this case Fannie Mae find it necessary to take these measures.
Illinois saw another crushing defeat last week with the closures of six small banks. The list includes Founders Bank, a standard fixture on the South side of Chicago.
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