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.

Home Buyer Education Class – July 14, 2018

Assistance for first time home buyers in DuPage County

Date: July 14
Time: 9:00 am – 5:00 pm
Location: HO.M.E. DuPage, Inc . 1600 E. Roosevelt Rd. Wheaton, IL

 


>> REGISTER HERE


 

Description:

Homebuyer Education is an 8 hour class by H.O.M.E. DuPage, Inc for the market-ready first time home buyer.

Our goal is to empower you to make informed decisions and become successful homeowners.

There is a $40.00 non-refundable registration fee per household. You must pay this fee before your registration be complete.

Please be advised that due to course length and classroom size, childcare is not provided, so we kindly as that you make accommodations accordingly.

For the optimum experience, please plan to arrive 10 to 15 minutes before class begins. Anyone arriving more than 20 minutes after class starts will need to reschedule. HOMEBUYER EDUCATION classes are typically held once per month.


>> REGISTER HERE


 

Presenters:

Kim Murphy
Draper and Kramer Mortgage
630-235-3917 (cell)
kim.murphy@dkmortgage.com

Kim has a passion for helping people and providing exceptional service. She utilizes a variety of lending programs to meet individual needs and will keep you informed every step of the way.

 

Kirk Fausett
Coldwell Banker
630-442-9421 (cell)
781-547-3619 (office)
Kirk.Fausett@cbexchange.com

Kirk is dedicated to meeting your real estate needs by providing “old fashioned” customer service combined with modern marketing. He is always working to meet and exceed his client’s expectations.

 

Bruce Fisher
White Glove Building Inspections
630-428-4555
www.whitegloveinspections.com

Bruce educates you about the condition of the home before you invest! He has an extensive background in general contracting, construction remodeling and mechanical systems in residential construction. Bruce has been providing inspections since 1982.

 

Timothy Barnes
TMB Law
630-207-5391
timothy.m.barnes@me.com

Tim has been practicing law since 2009 – in addition to real estate, he also handles wills, trusts, probate, divorce and more. Tim handles all cases personally and is always available outside of routine office hours by appointment.


>> REGISTER HERE

 


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

 


Illinois Foreclosure Rates Dropping but Still Among Nation’s Highest

Foreclosure home in Illinois

Photo by respres licensed under the Creative Commons Attribution 2.0 Generic license

As the national economy improves, we are beginning to see some improvements in the Illinois real estate market.

The number of Illinois homes that have entered into the foreclosure process fell 10 percent since May, according to a report by the real estate market research firm Attom Data Solutions.

Foreclosures in Peoria are down 23%, foreclosures in and Champaign-Urbana are down 55 percent, and Rockford, with some of the highest foreclosure rates in the nation, fell 25 percent in the past 12 months ending in May.

Attom Data Solutions Vice President Daren Blomquist has said foreclosure starts are a “good barometer of the immediate financial condition of homeowners in Illinois”.

Model Home TaxBecause of the improving economy and falling unemployment rate, people that have bought homes in Illinois since the recession have seen their home values rise.

With the improved economy and real estate market, it has become easier for people to sell their homes if they need to, rather than facing foreclosure.

“If they do lose their job, they’ll typically have the equity in their home to get out of trouble,” he said Mr. Blomquist.

Illinois has second highest property taxes in nationOne major problem with home values in Illinois is that the high property taxes tend to suppress home values, thus lowering equity.

Even with the lowering number of foreclosures, Illinois has the sixth-highest foreclosure rate in the U.S.

Related post: Illinois has second highest property taxes in the nation


* 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


Illinois Underwater Homes Trap Homeowners in Place

DuPage County Property

Illinois home values in some areas have never fully recovered from the real estate market crash, trapping some homeowners in houses that they are ready to move out of.

 

Trapped in their underwater mortgages

For example, Steinar Andersen of Huntley Illinois is ready to move out of the state. He is a disabled veteran who cannot work because of service-related injury who still owes $187,000 in principle on his home.

“We really should be living in Arizona as it is more “disability friendly” and the property taxes are much less,” he said. He can’t though because he is so far underwater on his home loan.

Another example is Collen Percy and her recently retired husband, currently living in Plainfield.

“We’re stuck,” she said. “We would love to sell and go live in a smaller home so we don’t have the upkeep and tax burden.”

Unfortunately, they are $85,000 underwater on their suburban Plainfield home. They’re concerned that rising property taxes are further eroding their home’s value, pushing the opportunity to sell even further into the future.

Related: High Property Taxes Sending Illinois Homeowners Towards a Cliff 

 

Illinois has the highest rate of underwater homes

Edge of CliffA study of negative equity by real estate site Zillow found that nationwide, less than 10% of homeowners have negative equity in their homes.

In Illinois however, 16.4 percent of homeowners owe more on their mortgage than their home is valued at. Nationally, only the State of Louisiana had a higher rate.

In Chicago, the negative equity rate is at 20%, overtaking Las Vegas as the city with the highest negative equity rate in the nation.

 

Difficulty selling

The combination of negative equity and high property taxes can mean homeowners who want to relocate can’t actually sell their homes.

“It makes it difficult to move for a new job opportunity to relocate elsewhere,” Zillow economist Sarah Mikhitarian said.

The high property tax rates in Illinois serve to help slow or decrease the value of homes.

Related: Illinois Has Second Highest Property Taxes in Nation

Home prices in Illinois, while up since 2013, are still down 10 percent compared with the market peak in 2006, according to data from the Federal Housing Finance Agency.

Illinoisans need reforms to make owning a home more affordable, and staying in or moving to the Land of Lincoln more attractive.

 

 

You may call The Law Offices of Lora Matthews Fausett P.C. with your questions:  630.858.0090


* 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


Model Home Tax Exemption

Model Home Tax


About the Model Home Tax Exemption

Add value when representing the seller of a model home by finding out if they qualify for the Model Home Tax Exemption.

 

This valuable tax exemption applies to Single Family Homes, Townhomes, or Condominiums that are not being occupied as a dwelling, but rather are used as display or demonstration homes for prospective buyers.

The model home need not be vacant – staging, furnishings, and appliances are allowed, as well as offices and office equipment to further sales activities.

Once applied, the model home exemption functions to assess the model home at the same assessed value as the property had prior to construction.

This means huge tax savings for the owner. A property is eligible for this exemption for a maximum of ten years, and an owner is limited to no more than 3 models homes claiming the exemption within a 3-mile radius.

 

Law Offices of Lora Matthews Fausett, P.C.Contact our office for more information, and to see if your client may be able to utilize the model home exemption.

Call (630) 858-0090

 


 

* 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.


 

Repeat Client and Referral Discounts

TO OUR VALUED REALTOR PARTNERS:

$50-$100 Discount

It is our pleasure to serve you and your clients!

$50-$100 Off

As a token of our appreciation, we are pleased to provide repeat customers with a $50.00 discount.

In addition, should they refer someone to our office and that person utilizes our services we are happy to provide an additional discount of $100.00 on any future services to the referring client.

 


* 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