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.

H.O.M.E. DuPage Road Rally Fundraiser 2017

SAVE the DATE for H.O.M.E. DuPage, Inc‘s 3rd Annual Road Rally taking place Saturday, September 30th!

What is a Road Rally?

All Road Rally participants meet at one gathering place for the kickoff. All teams are then given a clue to solve, (based on the movie THE BUCKET LIST ) which then reveals the next destination. Once you reach the destination, you search for a nameplate which contains the next clue envelope to open. Once that clue is solved, it will get you to another destination. In addition to clues,

Once you reach the destination, you search for a nameplate which contains the next clue envelope to open. Once that clue is solved, it will get you to another destination. In addition to clues,

Once that clue is solved, it will get you to another destination. In addition to clues, along the way, there are photo ops to take, and additional activities to complete (much like the Amazing Race). Points are accumulated for solved clues, as well as completed

Points are accumulated for solved clues, as well as completed photos and extra activities. The team that accumulates the most points in the allotted time wins.

This is NOT a race, it is a great team-building and bonding experience, where you awarded points on problem-solving skills and fun photos, all while having fun along the way.

Remember, it is very helpful to watch the movie THE BUCKET LIST.

LOCATION:
Northside Park
1229 N. West Street
Wheaton, IL

DATE: Saturday, September 30th

TIME: Pre-Rally Check-in and Information 1:30 pm

ENGINES START: 2:00 pm SHARP!!

POST RALLY PARTY: 7:00 pm

Participant Fee: $35.00 per person up until September 15th, after September 15th, $50.00 per person. Each team may have as many participants as you have seat belts for in your car. Participant Fee includes all the Rally fun, a special Rally dinner, and prizes.

Watch for Registration Details Coming Soon!

ALL PROCEEDS BENEFIT H.O.M.E. DuPage, Inc.


* 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. are experienced in the practice of real estate law, mortgage foreclosure defense litigation, social security disability, business law, and estate law.

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

For Information Call 630-858-0090


 

President Trump Suspends Mortgage Fee Rate Cuts

On his first day in office, President Donald Trump signed an executive order reversing a recently passed Obama administration policy that reduced the fee rate for Federal Housing Administration backed loans.

What is the change?

The administration canceled a reduction in the Federal Housing Administration’s annual fee for most borrowers.

The cut passed during the final days of the Obama administration would have reduced the annual premium for someone borrowing $200,000 by $500 in the first year.

When the fee rate policy change was announced by Obama’s Housing and Urban Development secretary Julian Castro in January, it was criticized by Donald Trump and Republicans.

What are the fees for?

The premiums fund the Mutual Mortgage Insurance Fund, which bails out lenders if borrowers default on their mortgages. Republicans argued the fee reductions put taxpayers at risk by lowering the funds the FHA has to deal with mortgage defaults.

FHA mortgage loan fees were raised during the housing recession to cover program losses. The Obama policy cutting them would have returned them to almost to the level they were before the housing bubble burst in 2008.

A letter from HUD to lenders and the real estate industry announced they would “suspend indefinitely” the rate reduction, stating “more analysis and research are deemed necessary to assess future adjustments while also considering potential market conditions in an ever-changing global economy that could impact our efforts.”

What was the response to the change?

The responses to the Trump administration policy were mixed.

Senate minority leader Chuck Schumer denounced the move, while the nominee for Secretary of HUD Ben Carson criticized the new policy when it was implemented by the outgoing administration.

Some housing industry groups approved of the change, saying it would increase home buying by offsetting recent rises in mortgage rates.

Other critics included the President of the National Community Reinvestment Coalition, John Taylor, who asked through a spokesman: “Exactly how does raising the cost of buying a home help average people?”

President of the National Association of Realtors, William E. Brown, said the fee rate cuts would have allowed more people to qualify for a mortgage because it would allow them to meet the debt-to-income ratio required for borrowing money.

The mortgage rate fee hikes were originally implemented during the Obama administration when FHA was under severe stress because of the financial crisis. In 2013 the agency was bailed out by the for $1.7 billion after a huge wave of mortgage defaults.

What does it mean?

In their letter to the real estate industry, HUD stated that “FHA is committed to ensuring its mortgage insurance programs remains viable and effective in the long term for all parties involved, especially our taxpayers.”

With this recent policy change, potential home buyers and the real estate industry will need to wait and see what the effects on the housing market will be.


* Advertising Material: To the extent that the information in this e-mail 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. provide real estate law attorney services including short sales and deeds in lieuloan modifications and workouts, and buying & selling assistance.

For Information Call 630-858-0090


Sources:

Trump Reverses Obama’s Mortgage Fee Cuts on First Day – Bloomberg

Trump’s first executive action: Cancel Obama’s mortgage premium cuts – USA Today

Trump’s Mortgage Fee Cut Reversal: What it Really Means for House-Hunters – Fox Business

HUD Official Website

Join Us For Our Boomerang Buyers Lunch & Learn

BOOMERANG BUYERS – ARE THEY READY TO GET BACK IN THE MARKET?

Join us for lunch and learn from the professionals.
Market, buyer, dhoc

  • You will learn where a buyer is now from a banks perspective.
  • Learn about DHOC’s very own Counselor in the Court Program
  • You will learn what are the legal aspects of a boomer-ang buyer

Wednesday, November 16th
11:30 am – 1:00 pm
1600 E. Roosevelt Rd
Wheaton, IL

REGISTER TODAY AT WWW.DHOC.ORG

Lunch will be sponsored by CityWide Title Corporation.

THE DUPAGE HOMEOWNERSHIP CENTER IS A NON-PROFIT HUD CERTIFIED HOUSING COUNSELING AGENCY PROVIDING FREE SERVICES TO PROMOTE AND PRESERVE HOMEOWNERSHIP IN DUPAGE COUNTY.

You’re Invited: Beer Tasting at DHOC

invite

Friends of DuPage Homeownership Center (DCOH)

Come learn about the services of the DuPage Homeownership Center at this free BEER TASTING networking event.

Wednesday, July 13
5:30 pm – 7:00 pm
1600 E. Roosevelt Rd
Wheaton, IL

RSVP to Anne O’Dell by Friday, July 8 at 630-260-2506 or anne@dhoc.org

The DuPage Homeownership Center 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- and moderate-income households, and homeowners in crisis.