Attorneys At Law

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

Attorney for real estate…Halloween edition!

attorney-real-estate-halloween

Attorney searching for real estate shouldn’t be haunting, but sometimes the home can be. About half of the states are caveat emptor, or “buyer beware” in Latin. In certain cases, that may mean beware of the ghosts.

One Laveta Place is a beautiful home on the Hudson River of New York that has been owned by the director and writer of romantic comedy Definitely, Maybe, singer-songwriter Ingrid Michaelson, and reggae artist Matisyahu. It is also reported to be haunted.

In 1991, the owner at the time, Helen Ackley, was sued for not disclosing that the house was haunted when trying to sell. Ackley had even spoken of the hauntings in a Reader’s Digest article explaining ghost sightings and phantom gifts.

The court found that Ackley had deliberately concealed information that could affect the value of the house. Today, real estate sellers are often required to disclose if a house is believed to be haunted.

An attorney for real estate can help you with the ins and outs of your property, including if there are *factors potentially affecting the home’s value or the well-being of the home’s owner.* Though, this may not always be a bad thing as the house on the Hudson has historically sold for significantly more than comparable houses in the area.

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

Business lawyer assistance for you

business lawyer

Business lawyer assistance can safeguard your company and make the law work for you. Putting agreements in writing is a form of organization and a way to commit to honesty. Our attorneys can assist you in setting up your business and ongoing consulting on contracts, partnership agreements, operating agreements, employment agreements, leasing and other day-to-day legal matters. 

When starting a business, you may not think of it right away, but putting agreements in writing is good practice for the long run. As time passes, the initial agreement may be fuzzy and cause simple details to turn into unnecessary issues. At Fausett Law, P.C., we are invested in success of our clients. Establishing a business takes careful planning and detailed legal steps.

Our business formation services include preparation of the Articles of Incorporation, Articles of Organization, as well as Bylaws, Shareholder’s Agreement or an Operating Agreement. We assist with the mandatory filing requirements.

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

Lawyer help…time for fall real estate

lawyer fall real estate

Lawyer help for the fall season includes real estate. It is commonly said that there are many reasons to buy a home in the fall. For buyers, motivated sellers may be more likely to negotiate as the market slows, and for sellers, it is important to find the right buyer. Our lawyers assist buyers and sellers in the negotiation and closing of real estate purchases and sales.

  • The slower season gives involved parties more time to think. Less fast paced bidding wars and more time for decision making is a highlight of the season.
  • It’s a time for honesty. This can be good for both buyers and sellers. Buyers get to see the house when the weather is not at its most beautiful and sunny, and sellers get a chance to show the true integrity of their home.
  • Neighborhood atmosphere reveals itself. While the summer brings folks outside, it also includes vacations, getaways and all of the warm weather glamour. However, the fall brings about routine. It is a good time to get the true feel of a neighborhood.

Our lawyer real estate representation includes the preparation of purchase agreements, financing documents, documents of conveyance, and escrow instructions. We are here to help.

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

Estate planning in Illinois changed– for you

estate planning

Estate planning may seem daunting right now. You might be working from home with the only option of technology to provide workplace connection, you may be experiencing the stress of heading to the office in current times, you may not even have a job at all, or you may be witnessing those around you struggle. However, Illinois has passed a new law to allow virtual estate planning.

Executive Order 2020-14 is called “the Order” and allows notary public and remote witnessing of documents. According to an article in the Daily Herald, “New Illinois law allows virtual estate planning,” these are the highlights:

• Any witnessing required by Illinois law may be completed remotely via two-way audio video technology per the Order’s guidelines.

• The requirement that a person must “appear before” a notary public is satisfied if the notary public conducts the remote notarization via two-way audio video technology provided the notary public is located in Illinois while executing her notarial act.

•The witness and signatory must attest to be physically located in Illinois during the two-way audio-video communication.

•The two-way audio-video recording must be kept for three years by the person signing the document or someone the person signing the document appoints.

With a lot going on, this can hopefully be one way to ease a bit of your burdens. Link to full article below.

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

Full article

Mortgage foreclosure defense: things to know

Mortgage foreclosure defense is a serious matter. If you find yourself in a situation where your mortgage lender is threatening, or has filed a foreclosure action against you, it is important to defend yourself as soon as you can.

One way to avoid mortgage foreclosure is to modify the mortgage. A modification may include:

  • A reduction or change in the loan’s interest rate.
  • A reduction in the loan’s principal.
  • A reduction or elimination of late fees and penalties for non-payment.
  • A reduction in your monthly payment.
  • Forbearance, to temporarily stop making payments, or extend the time for making payments.

Here are the typical steps in a foreclosure case:

  • Default
  • Filing of Foreclosure
  • Personal Service of Summons
  • Foreclosure Judgment and Order of Sale
  • Reinstatement Period Expires (90 days after personal service)
  • Redemption Period Expires (7 months after personal service or 3 months after judgment, whichever is later)
  • Foreclosure Sale
  • Foreclosure Sale Confirmed
  • Right to Possession Expires (30 days after foreclosure sale confirmed)
  • Eviction by Sheriff of Named Parties
  • Recording of Foreclosure Deed

Regardless of where you are in the process, having legal representation can prolong the process of foreclosure greatly, allowing you to stay in your home for more than a year from the filing of the lawsuit.

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