Tagged: foreclosure

So, another week, and yet more news the U.S. housing market is slowly returning to normal.

Numbers released on Tuesday by the Commerce Department show that builders broke ground on homes last month at a seasonally adjusted annual rate of 917,000. That's up from 910,000 in January. And it's the second-fastest pace since June 2008, behind December's rate of 982,000.

Illinois homeowners facing foreclosure may soon be eligible for up to $35,000 in mortgage assistance.

Gov. Pat Quinn announced that beginning April 1 the Illinois Housing Development Authority is increasing the amount eligible households may receive from the Illinois Hardest Hit program. Currently homeowners may receive $25,000.

Quinn's office says the increase will help an additional 500 families keep their homes.

The program is funded through the U.S. Department of the Treasury. Quinn says it has helped more than 7,000 homeowners avoid foreclosure since 2011.