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Christian Chase knows foreclosures. He should—his past seven homes have all been foreclosures that he bought, cleaned up and (except for the one he lives in now) put back on the market.
“To me, it doesn’t make sense to buy something on the retail market when you can buy a [foreclosed home] so far under the market,” Chase says. And these days, deeply discounted distress-sale properties are virtually..

By now, it’s pretty well known that the foreclosure crisis is no longer limited to lower-income households. Large numbers of middle- and upper-income homeowners are falling into default, too. But a new report from the Woodstock Institute points out that, in many parts of the Chicago region, more affluent households are far less likely than lower-income homeowners to get specialized counseling about the foreclosure process—and that could potentially…

Bill Rancic, the Chicagoan who first won Donald Trump’s TV reality show The Apprentice, has turned out to be the buyer of a foreclosed condo at the Park Tower that I wrote about here in early June. Rancic had also shown up in the July issue of Chicago after he and his wife sold a Gold Coast graystone for…