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Just three years after its previous bankruptcy filing, A&P is once again seeking bankruptcy protection. According to The Wall Street Journal, the nation’s oldest supermarket chain filed Chapter 11 on Sunday signaling what many say is the end for the iconic brand. The company has struggled with stiff competition from every angle including the ubiquitous Wal-Mart, the health conscious Whole Foods, and the deeply discounted Aldi’s. In its court filing, A&P said it has found bidders for 120 … [Read more...]

Homebuilders are feeling more confident than ever about the new home market according to the latest housing market index released this week by the National Association of Home Builders. A score higher than 50 signals that most builders feel the market is positive. July’s score came in at 60. “This month’s reading is in line with recent data showing stronger sales in both the new and existing home markets as well as continued job growth,” says David Crowe, chief economist for the association. … [Read more...]

Homebuyers looking for step-by-step guidance for buying their first home have a new educational tool thanks to Fannie Mae. The nation’s leading source for residential mortgages launched a new free mobile app this week for iOS and Android devices. The HOME app features an affordability calculator to help buyers determine how much house they can afford to buy as well as a savings calculator that helps them develop a savings plan for a down payment. The app also features a tool that shows buyers … [Read more...]

When it comes to something as important as buying or selling a home, the last thing you want to feel is buyer’s (or seller’s) remorse. In a new article for Trulia, personal finance and real estate guru Paula Pant shares five smart strategies for helping buyers and sellers make smart decisions they can live with long after closing the deal. For buyers of fixer-uppers, she stresses the importance of knowing your remodeling tolerance. Instead of getting caught up in the allure of the reduced price … [Read more...]

Mel Reynolds, former U.S. Congressman from the 2nd Congressional District in Illinois, failed to appear in federal court Monday for arraignment on charges that he allegedly failed to file required tax returns for four consecutive years. According to his attorney, Reynolds traveled overseas early last month to visit his daughter who recently fell ill, which made it impossible for him to return home in time for court. The rescheduled hearing is July 30th, at which time Reynolds’ attorney says he … [Read more...]

Chicago’s industrial real estate market continues to heat up in July as Whirlpool seals the deal on a new lease agreement to open what some speculate will be a finished goods warehouse in Joliet's Clarius Park. The appliance maker’s long-term lease of 752,000 square feet of a 1-million-square-foot building marks the third largest industrial real estate deal closed in the area this year. According to Crain’s Chicago Business, the warehouse’s close proximity to the interchange of interstates 80 … [Read more...]

Although the pace is beginning to slow, several metro areas nationwide experienced home price gains of five percent or greater between April 2014 and April 2015, according to the latest Standard & Poor’s/Case-Shiller’s U.S. National Home Price Index. Denver and San Francisco earned the top spots on the list with year-over-year price growth of 10.3 percent and 10 percent respectively. Dallas (8.8 percent), Miami (8.5 percent) and Tampa (7.6 percent) also made the list of top performers. … [Read more...]

A divided Supreme Court upheld a legal standard on Thursday that makes housing discrimination illegal—even in cases where it is not intentional. In a 5-4 decision, the Supreme Court ruled that the Texas Department of Housing and Community Affairs was liable for violating the Fair Housing Act when it incorrectly allocated low-income housing tax credits to neighborhoods that were already heavily populated by minorities. To help combat subtle discriminatory practices, the legal standard known as … [Read more...]

Struggling under the weight of up to $500 million in debt, storied gun maker Colt Defense has filed for chapter 11 bankruptcy. The 179-year-old gun manufacturer once thrived with government contracts and a strong consumer following. However, since 2009 the company’s government sales have dropped from 60 percent of total sales to less than 10 percent. On the consumer side, an investment in smart gun technology designed to make guns safer backfired with gun owners, contributing to a decline in … [Read more...]

Lenders will have two additional months to comply with the Consumer Financial Protection Bureau’s much-anticipated TRID rule. The new mortgage disclosure rule, which requires homebuyers to receive more time and information to understand the terms and cost of their mortgage, will take effect on Oct. 1 instead of Aug. 1. CFPB Director Richard Cordray told the media last week that he believes the additional time “would better accommodate the interests of the many consumers and providers whose … [Read more...]