• New Home Construction Suffers Alongside Struggling Housing Market

    Around 54,000 new homes were built in the Chicago area in 2005, but only about 3,000 building permits have been issued so far this year to start construction on new housing, Voice of America reported on September 2, 2011. “The new home construction, at least in Chicago, is down over 90 percent from where it was in 2007,” Hine Lumber President Doug Jones told VOA. Hines is down to four locations and “a little over 100” employees after having 27 locations and more than 1,200 employees at its peak.

    The roughly 323,000 new homes sold in the United States in 2010 was the worst year on record since 1963, according to VOA. Builder Hal Stembridge, who started his construction business in 1979 during a recession, directed his anger at the government when he told VOA, “They’ve bailed out the banks. They’ve bailed out Wall Street. They’ve bailed out the car companies. But the largest employer in the United States is still suffering and that’s homebuilding.”

    New home or old, all of us have somehow felt the impact of the economic downturn. If you do not want to wait any longer while the government bails out everybody else, you should take control of your destiny and get deserved relief today. Our bankruptcy law firm can help you with a bankruptcy means test and determine if the Chapter 13 or Chapter 7 process is right for you to help end creditor harassment. If you want an affordable bankruptcy now so you can eliminate bills and stop foreclosure, call one of our Chicago bankruptcy attorneys today.

    Benjamin Brand Services – Chicago bankruptcy lawyers

  • Chicago One Of Five ‘Choice Neighborhoods’

    Chicago was one of five U.S. cities to get an inaugural “Choice Neighborhoods Initiative” grant, receiving $30.5 million in federal grant funds to redevelop a Woodlawn housing project as part of a nationwide effort to revitalize certain neighborhoods. Crain’s Chicago Business reported on August 31, 2011, that the funds are part of the U.S. Housing and Urban Development program that will give five cities a total of $122 million. The other four cities are Boston, New Orleans, San Francisco and Seattle.

    HUD Secretary Shaun Donovan said the $30.5 million grant will be used to try to leverage up to $272 million in total investments from various organizations, according to the Chicago Tribune. Much of the award will go to the not-for-profit Preservation of Affordable Housing (POAH), a nonprofit that is redeveloping Grove Parc Plaza, a federally subsidized 504-unit building built in the 1960s on Cottage Grove Avenue.

    If you are finding it harder to hang on to your own neighborhood house these days, you can get deserved relief today by learning how to file for bankruptcy . Whether you need to eliminate bills and stop foreclosure or just want to end creditor harassment, our experienced firm can provide you with all the necessary Chapter 13 or Chapter 7 bankruptcy information you need to reach a productive debt settlement. If you are unsure whether or not you need to fill out a bankruptcy means test , contact our office today to schedule a free initial consultation and start receiving the advice and the peace of mind you have been seeking.

    Benjamin Brand Services – Chicago bankruptcy lawyers