Articles Posted in foreclosure

When we hear about foreclosure in Chicago, Illinois and legal service plans we always think that someone was laid off from work and cannot afford to cover the mortgage payments on their home. However, that is not always the case; in fact often times foreclosure issues hit people who have steady jobs. So what happened that forced people into a financial bind and could cost them their own homes? The problem is that companies that have stayed in business have struggled to increase salaries while the cost of living has still managed to go up every year. Believe it or not despite being in a recession the cost of living for today is much higher than it was a decade ago when the economy was considered to be thriving. Take a look at some of the increases we have had to deal with since a decade ago.

Fuel had an average cost of $1.50 in the year 2000

Water and sanitation was less than $30 a month in many areas in the year 2000