All Housing Content

All Housing Content

Agency states housing project's case to Hoopeston council

HOOPESTON – Norma Deck would love to live in one of the 25 houses proposed as part of a $4.7 million affordable housing project in Hoopeston.

"It would be like moving into a castle," said Deck, who was comparing the proposed houses to her current living quarters – an older, two-story home that's been divided into four rental units.

Adjusting mortgage payments might free up your budget

In the last year you have:

a. been laid off or had your hours at work reduced.

b. had to care for a new set of triplets at home.

c. developed a medical condition that is expensive to treat.

In other words, your finances have become somewhat strained. You've fallen behind in your mortgage payments, or you anticipate having a tough time making those payments.

What do you do? Consider a renegotiated or modified mortgage.


Ministry sells property on Robinson Court

CHAMPAIGN – Any home sale is a coup in this market, and Restoration Urban Ministries was relieved to get this mortgage off the books.

The Christian-based homeless ministry sold its property on Robinson Court – five duplexes, four homes and an empty lot near Washington and Russell streets – to a local developer for $650,000 on Dec. 1. The asking price was $1.2 million, the appraised value, when the property was listed in October 2007.

2 more Danville families get homes from Habitat for Humanity

DANVILLE – Habitat for Humanity of Danville has sold 41 houses since 1986. The organization will sell two more on Sunday.

Habitat will dedicate two new houses at 3 p.m. Sunday at 1006 and 1010 Chandler St.

Liens filed as Burnham 310 developer fights with subcontractor

CHAMPAIGN – The Burnham 310 apartment project is getting closer to completion, but a dispute between the developer and the structural concrete subcontractor has led to a foreclosure lawsuit and the filing of $4.7 million in mechanics' liens against the developer.

The dispute has led to a number of subcontractors, some of them local, not being paid for work they did months ago.

M2 developers: Condo owners can move in starting in April

CHAMPAIGN – Condominium owners should be able to begin moving into the new M2 on Neil complex in downtown Champaign in early April, the project's developers say.

Meanwhile, a Champaign law firm has agreed to move into the building, joining a bank, restaurant and salon and spa that already made arrangements to move there.

Slower market has creditworthy homebuyers 'asking for a lot'

CHAMPAIGN – If you're thinking of buying a home, now may be a good time to swing a deal.

Buyers can negotiate a lot of extras as a result of the slower real estate market, said Kathy Simmons, president of the Champaign County Association of Realtors.

Foreclosure counseling available on Saturday 'helpline'

CHAMPAIGN – People with questions about home foreclosures can get them answered for free on Saturday, thanks to a "foreclosure helpline" sponsored by Attorneys' Title Guaranty Fund.

Volunteer real estate attorneys will offer legal counsel to anyone calling 1-800-252-0402 from 9 a.m. to noon that day.

Busey CEO tells of merger plans for Illinois, Florida subsidiaries

URBANA – First Busey Corp. plans to consolidate its Illinois and Florida banking subsidiaries, the Urbana-based company revealed this week as it reported third-quarter earnings.

"It makes sense for us from a strategy standpoint and a cost standpoint to merge our banks into one bank," First Busey President and Chief Executive Officer Van Dukeman said. "The resulting bank will be larger and, we believe, more efficient due to the lack of duplicate costs and processes."

Foreclosed properties proving not to be worth risk right now

CHAMPAIGN – Some area real estate agents are getting calls from prospective buyers wondering how to buy a foreclosed home, according to Barb Manka, president of the Champaign County Association of Realtors.

But at least one real estate agent who has bought foreclosed homes and fixed them up is no longer doing so because of the soft market.