Illinois part of massive foreclosure deal with big banks

Illinois Attorney General Lisa Madigan

UPDATE: Illinois AG Madigan says state will get about $1 billion from settlement. Story is here.

NYT has a rolling update here about who benefits from the settlement.
$26B settlement reached with biggest banks on foreclosures
The deal, reach late yesterday, could provide relief to homeowners and holds financial institutions accountable, according to the New York Times Report. Included in the plan: About $5 Billion will go to states; $17 Billion will go for homeowner relief. Details to come later today.

Headlines from around the state

Good foreclosure news?
Foreclosures seen as leveling, analysts optimistic on prospects for 2012 in Metro East. Belleville News-Democrat.
Real estate markets to watch:
According to a report by WEEK-TV in Peoria, the city has been ranked in the top 10 markets to watch this year. The source was Inman News. Bloomington-Normal also made the top 10.
Sales gains:
Rockford Area REALTORS® sold more home sin January than they have since 2007. Rockford Register Star.
Building Blocks:
Forest View Life has an article on Gov. Pat Quinn’s efforts to address vacant and foreclosed homes. Chicago Agent has a story, too.
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About Jon Broadbooks

Jon Broadbooks is Vice President/Communications for Illinois REALTORS®. He serves as editor of online and print content for the association’s communications including the Illinois REALTOR® magazine and e-newsletters. He conducts spokesperson training seminars and oversees website development for the Association.

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