Thread: There have been 17 bank failures in IL. Second only to Georgia. WTF is that about?

Edited on Tue Oct-27-09 03:30 PM by Hassin Bin Sober Except for the large thrifts that dabbled in sub-prime, I'm going to hazard a somewhat educated guess (I'm a mortgage banker) that most if not all the sub-prime lenders are already kaput. Have been for over a year. A small bank like First Du Page may have service a sub-prime customer by brokering the loan but they would never carry ...

first I agree with your thoughts on the major sub prime lenders. Are you suggesting that commercial real estate is the problem leading to so many IL bank failures?

.. for commercial properties AND residential projects.

that was intended to cover Escrowed Property Taxes. Some of the banks that took over those accounts are working with the county, but BofA is stalling. And of course those homeowners are still responsible for coming up with those tax payments, even though they thought they were secure in an Escrow acct. Nice, huh?