About Chicago's West Rogers Park

There have been times where I have gone to Alderman Stone's office for advice regarding real estate issues. He has always been available and has always stood firm where the boundaries and guidelines were. I appreciate his frankness and honesty.

While Alderman Stone has been in office and some would love to see him out of office and see Debra Silverstein representing the ward. Albeit it, Rep. Ira Silverstein is also the Ward's Democratic Committeman.

I think the issue that really threw me today was when I read a comment from the Chicago Tribune reporting that our new incoming Mayor wants people who see his side, like Debra Silverstein. Better yet, here's the quote that ruffled my feathers:

"Emanuel has expressed he wants aldermen who are on his side, as he implements his agenda, including unpopular cuts to fix the city’s budget hole."

Stone and Silverstein fighting for West Rogers Park

Loan Modifications took a huge jump in December by about 20%! Before you go off and get excited, that means that there has been an increase of "trial" or permanent mortgage loan modifications.

The Treasury Department reported on Friday that "at the end of December, 41,793 Illinois homeowners were participating in trial loan modifications Of that, 3,149 consumers had received permanent modifications."

"Chicago is reported to have 40,191 homeowners in trial modifications and 3,036 borrowers receiving permanent loan modfications under the Homeowner Affordable Modification Program. Compared to the national average at year-end, 787,231 homeowners had begun trial modifications since the program's inception last year", according to the Treasury Report.

What this means is that alot of people are awaiting approvals, while the banks are waiting signatures from the consumers who have been approved for the Loan Modification. It appears the fear of reaching out is cooling off, as more and more are applying for Loan Modifications and trying to stay in their homes.

Congrats to those who are putting their best foot foward.

Remember, if you are denied for your loan modification because you do not qualify, real out a real estate professional to help you sell your property in a Short Sale rather then Foreclosure.