Attorneys At Law

Attorneys practicing in and around the Chicagoland area. Experienced in the practice areas of Real Estate Law, Mortgage Foreclosure Defense Litigation, Social Security Disability, Business Law, & Estate Law.

Attorneys At Law - Attorneys practicing in and around the Chicagoland area. Experienced in the practice areas of Real Estate Law, Mortgage Foreclosure Defense Litigation, Social Security Disability, Business Law, & Estate Law.

Cook County Senior Property Tax Exemption and Freeze Application Deadline Extended

Senior Tax Exemption for Chicago Bungalow

Senior Exemption Application Deadline Extended

If you have not applied for your Cook County Senior Property Tax Exemption or Property Tax Freeze Application, there is still time.

The deadline for senior homeowners in Cook County to apply for the senior property tax exemption and senior property tax freeze has been extended to Friday, March 2.

Cook County Assessor Joseph Berrios has extended the deadline past the original deadline, previously Friday, March 2.

If you know someone who may be eligible, please let them know. Thousands of eligible homeowners have not renewed their exemptions.

Related post: Real Estate Tax Exemptions Cook County Chicago

 

According to Assessor Joseph Berrios:

Property tax bills Kane & DuPage County“I extended the deadline so all seniors have extra time to return their applications to ensure they receive the expanded exemption savings this year.

It is also important to remember that under Illinois law, seniors are required to reapply annually for both the Senior and Senior Freeze Exemptions.”

Related post: Cook County Assessor Faces Controversy Over Widespread Inequities

 

Many qualifying seniors have not renewed

The assessor’s office said over 270,000 applications were mailed in early January to seniors who received the exemption last year.

Approximately 80,000 seniors who received that notice have not yet renewed their exemptions.

 

Senior Property Tax Freeze Exemption Qualifications

Cook County SealTo qualify for the Senior Freeze Exemption for Tax Year 2017, taxpayers must have:

  • been born prior to or in the year 1952,
  • a total household income of $65,000 or less for [income] Tax Year 2016,
  • owned the property or had a legal, equitable or leasehold interest in the property on January 1, 2016 and January 1, 2017,
  • used the property as a principal place of residence as of January 1, 2016 and January 1, 2017, and
  • been responsible for the payment of 2016 and 2017 property taxes.

 

Download forms

Senior Citizen Property Tax Exemption  Application (PDF)

Senior Property Freeze Exemption Application (PDF)

 

For more information, visit http://www.cookcountyassessor.com/ or call the Assessor’s office at 312-443-7550.

 


* Advertising Material: To the extent that the information in this post is interpreted as attorney advertising in accordance with the Illinois Rules of Professional Conduct or within the meaning of state bar rules from all other localities, this statement is made pursuant to those rules.

Specialties: Specialization claims are prohibited by Illinois Supreme Court Rules and we do not claim to be specialists. The content of this e-mail is organized and presented for the sole purpose of general information. None of the included content should be construed as legal advice. Viewing this e-mail or e-mailing the account holder does not create an attorney-client relationship. NOTICE: This page may be considered advertising material.


The Law Offices of Lora Fausett P.C. provides real estate law services including loan modificationsbuying and selling legal assistanceshort sales and deeds in lieumortgage foreclosure defense, and more.

Located in Glen Ellyn, Illinois and serving clients in DuPageCookKane, Will, and Kendall Counties.

For Information Call 630-858-0090


 

Photo credit: “Chicago bungalow” photo licensed under the Creative Commons Attribution-Share Alike 2.5 Generic license.

Please Join Us in Supporting H.O.M.E. DuPage Home Ownership Resources

Assistance for first time home buyers in DuPage County

H.O.M.E. DuPage, Inc. is a nonprofit organization that provides a full range of services to promote responsible sustainable homeownership, with an emphasis on serving first-time homebuyers, low-income and moderate-income households and homeowners in crisis.

 

When you support H.O.M.E. DuPage, you help preserve homeownership through services that help people achieve their dream of owning a home.

 

H.O.M.E. DuPage Mission

Homeowner crisis foreclosure assistance DuPageH.O.M.E. DuPage helps educate people on managing finances, fixing bad credit, and preparing first-time homebuyers to realize their dream of owning their own home.

H.O.M.E. DuPage also helps current homeowners in crisis.

When the foreclosure process begins, there is still hope. In 2017, H.O.M.E. DuPage assisted over 300 local families in crisis.

 

H.O.M.E. DuPage Wish List

You can help support H.O.M.E. DuPage Inc. through your financial donations or by providing items on their wish list.

Other ways to help:

 

Make a Donation

They need your help to be able to continue to provide vital services to our community.

Your tax-deductible donation to H.O.M.E. DuPage, Inc. will go to work right here in DuPage County:

  • helping a mother and her son (both suffering medical crises) save their home from foreclosure
  • giving a single mom the opportunity to become a homeowner for the first time
  • teaching a young couple to successfully manage their money with the help of a Financial Coach

Donate to HOME DuPage

 

We hope that you can help support DuPage County residents to achieve their dream of homeownership.


* Advertising Material: To the extent that the information in this post is interpreted as attorney advertising in accordance with the Illinois Rules of Professional Conduct or within the meaning of state bar rules from all other localities, this statement is made pursuant to those rules.

Specialties: Specialization claims are prohibited by Illinois Supreme Court Rules and we do not claim to be specialists. The content of this e-mail is organized and presented for the sole purpose of general information. None of the included content should be construed as legal advice. Viewing this e-mail or e-mailing the account holder does not create an attorney-client relationship. NOTICE: This page may be considered advertising material.


The Law Offices of Lora Fausett P.C. provides real estate law services in DuPage, Kane, Kendall and Cook counties including buying and sellingshort salesmortgage foreclosure defense and more.

For Information Call 630-858-0090


Illinois State Tax Lien Registry

Illinois home with tax lien

On January 1, 2018, the new State Tax Lien Registration Act went into effect, changing how state tax liens are filed in Illinois.

The act created a single centralized Illinois State Tax Lien Registry for filing notices of tax liens.

 

What is Statewide Tax Lien Registry?

The Statewide Tax Lien Registry is an online, searchable database of Illinois tax liens filed or released by the Illinois Department of Revenue (IDOR). The registry documents all active tax liens as of January 1, 2018, and all future lien filings and releases.

Registry Website: Illinois State Tax Lien Registry

IDOR will no longer be recording its liens or releases with local county recorders.  Going forward, IDOR will maintain its own searchable Illinois State Tax Lien Registry and you can no longer search for liens through your county.

 

Illinois State Tax Lien Registry Video

 

How to know if a tax lien has been filed?

Anyone can search the Illinois State Tax Lien Registry. The registry is the only location available to search liens filed by the Illinois Department of Revenue. You will no longer be able to inquire through each individual county.

 

How to access the Illinois Tax Lien Registry?

You can access the registry through the “Lien Registry” link under the “Quick Links” section on the Illinois Department of Revenue website at tax.illinois.gov, or visit this direct link.

 

How do I find a tax lien?

When you are at the Statewide Tax Lien Registry, you can search for a tax lien using multiple forms of search criteria including:

  • Lien ID
  • FEIN
  • Business name
  • Lien filed or released date
  • Taxpayer first and last name
  • Street address
  • Combination of above

Seal of IllinoisSearch results are dependent on how the taxpayer is registered with the department. A general search or using a partial name could provide multiple results.

Search results will appear as a list of liens at the bottom of the screen. If no tax lien appears in the list area, you may want to modify search criteria to assure you have the correct information.

The results row will identify specific information about the lien, such as the date filed and the date released if applicable. For more information on a specific lien, click on the blue “Lien ID” hyperlink. The lien detail will now be visible.

Any questions about the status or the validity of the tax lien must be addressed by the taxpayer. The taxpayer is the only person who may contact the department about the lien. Call by phone at 217-785-5299.

 

Due diligence recommended

Because this tax lien system is new, property owners with existing tax liens before January 1, 2018, should perform due diligence that includes searching both the Illinois State Tax Lien Registry and your county recorder office to ensure all relevant state tax lien information is discovered.

 

Vist the Illinois Statewide Tax Lien Registry

 


* Advertising Material: To the extent that the information in this post is interpreted as attorney advertising in accordance with the Illinois Rules of Professional Conduct or within the meaning of state bar rules from all other localities, this statement is made pursuant to those rules.

Specialties: Specialization claims are prohibited by Illinois Supreme Court Rules and we do not claim to be specialists. The content of this e-mail is organized and presented for the sole purpose of general information. None of the included content should be construed as legal advice. Viewing this e-mail or e-mailing the account holder does not create an attorney-client relationship. NOTICE: This page may be considered advertising material.


The Law Offices of Lora Fausett P.C. provides real estate law services including buying and sellingshort salesmortgage foreclosure defense and more.

For Information Call 630-858-0090


 

Real Estate Tax Exemptions in DuPage County

In this post, we will list the real estate tax exemptions available to qualified homeowners in DuPage County, Illinois.

Paying your ever-increasing property taxes is a reality of home ownership whether you are in DuPage, Kane or Cook County.

However, some homeowners in DuPage County may be eligible for real estate tax exemptions for a portion of their home value, which can amount to significant savings, especially for people on fixed incomes.

With the cost of property taxes in DuPage County being some of the highest in the state, it is important that you take advantage of every exemption that you qualify for.

This information has been collected for your convenience and is also available at the DuPage County Treasurer Website.

 

List of DuPage County Property Tax Exemptions

  • Disabled Persons’ Homestead Exemption
  • Disabled Veterans’ Standard Homestead Exemption
  • Homestead Exemption for Veterans with Disabilities
  • Homestead Improvement Exemption
  • Residential Exemption
  • Returning Veterans’ Homestead Exemption
  • Senior Citizens Assessment Freeze
  • Senior Citizens Homestead Exemption

 

Disabled Persons’ Homestead Exemption

The Disabled Persons’ Homestead Exemption provides qualifying homeowners an annual $2,000 reduction in the assessed value of the property owned and occupied on January 1 of the assessment year by the disabled person who is liable for the payment of the property taxes.

You can contact your Township Assessor for more information.

To qualify:

  • You must be disabled or become disabled during the assessment year
  • The applicant must own or have a legal or equitable interest in the property, or a leasehold interest of a single-family residence. The applicant must occupy the property as your principal residence on January 1 of the assessment year and is liable for the payment of the property taxes.

You will need to file a completed PTAX-343 application form with additional documentation (Proof of Ownership) demonstrating eligibility.

Additional information and detailed requirements at DuPage County Treasurer website

 

Disabled Veterans’ Standard Homestead Exemption

Veteran Homeowner ExemptionProvides qualified veterans an annual reduction in the assessed value of the primary residence occupied by a disabled veteran each year depending on the percentage of the veteran’s service-connected disability.

Typical annual tax savings range from $140 to $280 for $2,500 to $5,000 reduction of assessed value.

Contact the DuPage County Supervisor of Assessments Office at 630-407-5858 for more information.

To qualify:

  • Applicant must be an Illinois resident who is a veteran with at least a 30% service-related disability as certified by U.S. Department of Veterans Affairs.
  • The home must be owner-occupied by the disabled veteran or the surviving unmarried spouse of the disabled veteran as of January 1st of eligibility year, and the property value must not be more than $750,000.
  • You will not be eligible if you are claiming exemption under the Disabled Persons Homestead Exemption or the Disabled Veterans Homestead Exemption

You will need to complete and file a PTAX-342 application form along with the required documentation with the Supervisor of Assessments.

Additional information and detailed requirements at DuPage County Supervisor of Assessments website

 

Homestead Exemption for Veterans with Disabilities

The property must be owned and used exclusively by a 70% or more disabled veteran. Provides for an exemption for property taxes.

Contact the Supervisor of Assessments Office.

 

Homestead Improvement Exemption

DuPage County real estate tax deferralThe Homestead Improvement Exemption provides an exemption of up to $25,000 of assessment increase due to home improvement. This exemption can continue for four years.

Contact your Township Assessor’s office for more information.

To qualify:

  • If an existing primary residence which is used exclusively for residential purposes experiences an assessment increase resulting from a physical change made to the property, such a new addition or improvement, the amount of assessed value directly related to this change may be deducted from the total taxable assessed value of the property, for a period of four years.
  • The maximum deduction is $25,000 of assessed value.

Additional information and detailed requirements at DuPage County Supervisor of Assessments website

 

Residential Exemption

This General Homestead Exemption reduces the net taxable assessed value by a maximum of $6,000

To qualify:

  • Own and occupy the property as a principal residence.
  • Alternately, occupy the property as a principal residence and you have an equitable legal estate and are responsible for the payment of the real estate taxes.
  • In most cases, the Township Assessor will automatically grant the exemption on behalf of the taxpayer without requiring a formal application.  If you have any questions about your exemption status, please contact your Township Assessor.

Additional information and detailed requirements at DuPage County Supervisor of Assessments website

 

Returning Veterans’ Homestead Exemption

Real Estate Home Buying MythsThe Returning Veterans’ Homestead Exemption provides for a one-time $5,000 reduction in the assessed value of the veteran’s principal residence for two consecutive tax years when the veteran returns from active duty in an armed conflict involving the armed forces of the United States.

Contact the DuPage County Supervisor of Assessments Office at 630-407-5858 for more information.

To qualify:

  • Must be an Illinois resident who has served as a member of the U.S. Armed Forces, Illinois National Guard, or U.S. Reserve Forces and returned from active duty in an armed conflict involving the armed forces of the U.S;
  • Must own or lease and occupy the property as a primary residence and be liable for paying the property taxes.
  • File a completed PTAX-341 application form with additional documentation demonstrating eligibility (Proof of Ownership form).

Additional information and detailed requirements at DuPage County Supervisor of Assessments website

 

Senior Citizens Assessment Freeze

The Assessment Freeze Homestead Exemption provides seniors with limited income protection against real estate tax increases due to rising property values. It is not a tax freeze or a tax reduction and does not protect against increased taxes due to tax rate increases.

For applications or questions concerning the exemption, please call the DuPage County Supervisor of Assessments Office at 630-407-5858 for more information.

To qualify:

  • You must establish age, ownership, and residency, by applying for the Senior Homestead Exemption (which requires you to be age 65 by December 31st of the assessment year for which the application is made).
  • Have a total household income (before deductions) of $55,000 or less for the calendar year prior the application year.
  • Effective for the 2018 pay 2019 tax year, the maximum allowable household income is $65,000.
  • Own and occupy the property on or before January 1st of the application year and prior base year.
  • Be liable for payment of real estate taxes on the property.
  • Eligible senior taxpayers must complete a signed and notarized application/affidavit.

Additional information and detailed requirements at DuPage County Supervisor of Assessments website

 

Senior Citizens Homestead Exemption

Property tax bills Kane & DuPage CountyThe Senior Citizens Homestead Exemption lowers the taxable value of the property by $5,000.

To qualify:

  • You must be age 65 by December 31st of the assessment year for which the application is made.
  • Complete an application (PDF) and supply proof of age and property ownership.
  • Own and occupy the property.
  • Be liable for the payment of real estate taxes on the property.

Additional information and detailed requirements at DuPage County Supervisor of Assessments website

 


* Advertising Material: To the extent that the information in this post is interpreted as attorney advertising in accordance with the Illinois Rules of Professional Conduct or within the meaning of state bar rules from all other localities, this statement is made pursuant to those rules.

Specialties: Specialization claims are prohibited by Illinois Supreme Court Rules and we do not claim to be specialists. The content of this e-mail is organized and presented for the sole purpose of general information. None of the included content should be construed as legal advice. Viewing this e-mail or e-mailing the account holder does not create an attorney-client relationship. NOTICE: This page may be considered advertising material.


The Law Offices of Lora Fausett P.C. provides real estate law services including buying and sellingshort salesmortgage foreclosure defense and more.

For Information Call 630-858-0090


 

Protect Yourself Against Real Estate Closing Wire Transfer Scam Targeting Chicago Area

Beware online wire transfer fraud

How to Protect Yourself Against Real Estate Closing Wire Transfer Scam Targeting Chicago Area Home Buyers

In a sad but no longer rare occurrence, a Chicago area couple has lost their life savings in a wire fraud scam that has been targeting home buyers across the United States.

We are warning all home buyers to be aware of this all-too-common banking wire transfer scam and to be vigilant when conducting large financial transactions online. 

In this post, we will relate the sad story of Chicago area victims of a real estate wire transfer scam, how the scam works, and how to protect yourself.

 

Chicagoland victims of wire fraud

wire transfer paymentWilliam and Nancy Skog dreamed of retirement in a riverfront home in Wilmington, IL.

As they were in the final process of buying their dream home with their life savings, the received an email that appeared to be from their real estate attorney‘s email address.

What they didn’t know is that the email actually came from a criminal that was spoofing their attorney’s email address.

Besides appearing to be from a trusted email address, the message also included an attachment with the company letterhead, the address of the home they were buying, the title insurance company information and even the exact balance they owed. The enclosed documents even included fake signatures from their lawyer.

When the Skog’s went to their actual closing, they learned that the money for their dream home had never arrived. They were out of $307,000.

 

How the real estate closing wire transfer scam works

Fraud AlertScam artists are hacking into the email accounts of title companies, real estate agents and home buyers in search of home purchases with upcoming payments.

Once they have found an impending home purchase transaction, they contact the home buyers and impersonate the title agency or escrow agent. This may include spoofed email addresses and emails containing fake documents that include the title company letterhead and names of agents the victim trusts.

The scammer, whom the victims will mistakenly believe is an agent they know or one of their representatives, instructs the homebuyers to wire the funds needed to close.

This will often be hundreds of thousands of dollars. The unsuspecting victim will do a wire transfer of their funds which ends up actually going into the scammer’s bank account. The hacker will then withdraw the money as quickly as possible and disappear.

The hacker and the bank account are often offshore in foreign countries, making recovery of the funds nearly impossible.

According to the FBI, scammers have targetted over a billion dollars in real estate transactions in 2017 alone.

Related: Beware online banking fraud

 

How to protect yourself against wire transfer fraud

  • Caution signNever wire money based on an email without verifying the transaction over the phone with your attorney or title company first.
  • Call the phone numbers you already have with your contacts, not phone numbers sent via email that could belong to a scammer.
  • Beware of an email that gives you instructions that differ in any way from the ones you have already discussed.
  • Always verify the transaction with a known contact by phone before wiring the money.
  • Speak with the title company and verify with them the bank where the money is going, the dollar amount and most importantly, the account number.
  • Instead of emailing any personal information or signed authorization, send personal information by fax.
  • Follow up with your contact afterward.
  • If you believe you have been scammed, contact the FBI Internet Crime Complaint Center within 72 hours.
  • You can ask if you can use a cashier check at closing rather than a wire transfer.

Please use caution before completing any real estate transaction with a wire transfer.


* Advertising Material: To the extent that the information in this post is interpreted as attorney advertising in accordance with the Illinois Rules of Professional Conduct or within the meaning of state bar rules from all other localities, this statement is made pursuant to those rules.

Specialties: Specialization claims are prohibited by Illinois Supreme Court Rules and we do not claim to be specialists. The content of this e-mail is organized and presented for the sole purpose of general information. None of the included content should be construed as legal advice. Viewing this e-mail or e-mailing the account holder does not create an attorney-client relationship. NOTICE: This page may be considered advertising material.


The Law Offices of Lora Fausett P.C. provides real estate law services including loan modificationsbuying and selling legal assistanceshort sales and deeds in lieumortgage foreclosure defense, and more.

Located in Glen Ellyn, Illinois and serving clients in DuPageCookKane, Will, and Kendall Counties.

For Information Call 630-858-0090


Sources
Wired Away: Couple loses life savings during home purchase – ABC 7 Chicago
Protecting Your Property: Scams That Put Homebuyers and Homeowners in Danger – US News & World Report
FBI: Hackers scam homebuyers out of millions — and it’s getting worse  – Chicago Tribune
Buying a Home? Don’t Lose Your Down Payment to Wire Fraud – Come Home North Shore