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Southland housing groups cleaning up foreclosures and their aftermath

Slowly, home by home, the fallout from various shady home-loan lending practices that helped produce a flood of foreclosures and vacant homes throughout the south and southwest suburbs is being reversed.

Still, depending on the community, stability in the housing market is something that may not happen for years, and the money needed to tackle the problem on a larger scale simply isn’t there, according to those who are involved with fixing the damage that was done.

In its report summarizing the state of housing activity in Illinois in 2014, the Illinois Housing Development Authority said the “impact of the foreclosure crisis on the housing markets in communities around the state remains significant” despite the marshaling of resources to try to keep people in their homes…Please click here to read Mike Nolan’s story in the Tribune/Daily Southtown.

A related story can be found here in the  International Business Times entitled “Fannie Mae Fails To Maintain Foreclosed Homes In Black And Latino Neighborhoods, Discrimination Complaint Alleges”

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