Higher mortgage fees proposed for Illinois - Chicago News and Weather | FOX 32 News

Higher mortgage fees proposed for Illinois

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CHICAGO (FOX 32 News) -

Higher mortgage fees are being proposed for Illinois and four other states.

If you have a 30-year fixed rate mortgage of $200,000, that fee would only be an extra $42 a year in mortgage payments for Illinois borrowers.

These fees are coming because it takes more than 500 days to finish a foreclosure in Illinois.

The per day costs are 118 percent of the national average.

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