Inside these posts: Treasury Department

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Aug. 20, 2010 at 12:14 p.m.
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Filed under: Economy, Housing, Mortgages, Policy, Real estate, Updated

Fewer homeowners received mortgage help in July

By Mary Ellen Podmolik

The Treasury Department said Friday that the nation’s housing market “remains fragile” and reported that far fewer delinquent mortgage borrowers received loan modifications through a federal government program in July than they did in June. Get the full story »

Aug. 12, 2010 at 7:09 a.m.
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Filed under: Autos, Bankruptcy, Earnings

GM posts $1.3B profit ahead of IPO expected Friday

By CNN

General Motors posted its second straight profitable quarter Thursday, putting it in position to move ahead with the sale of shares to the public that is needed to repay taxpayer assistance it received last year.

The No. 1 automaker in terms of U.S. sales reported earnings of $1.3 billion in the quarter after the payment of dividends on preferred shares held by the U.S. Treasury. That was a stark turnaround from the $12.9 billion it lost in the year-earlier period when the company went into bankruptcy. Get the full story »

Aug. 11, 2010 at 11:22 a.m.
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Filed under: Housing, Mortgages, Policy, Politics, Real estate

Obama administration to help Illinois homeowners

By Mary Ellen Podmolik

Illinois will receive $166.4 million in foreclosure prevention funds to help unemployed homeowners who are struggling to make their mortgage payments, the Obama administration announced Wednesday.

Illinois is among 17 states and Washington, D.C., to receive part of a $2 billion Treasury Department Hardest Hit Fund. All of the areas were selected because their unemployment levels are above the national average over the past 12 months. Each of the states will use the funds to temporarily help eligible homeowners pay their mortgages while they look for jobs or take job training. Get the full story »

Aug. 2, 2010 at 1:00 p.m.
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Illinois No. 5 in HIRE Act eligibility

By Julie Wernau

Approximately 260,000 unemployed workers in Illinois are eligible for employment under the HIRE Act, according to a state-by-state breakdown released today by the Treasury Department, placing Illinois fifth in the nation for states with the largest number of workers whose employers could qualify for HIRE act tax exemptions and tax credits. Get the full story »

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