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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.

Fannie Mae Announces A Great Marketing List Price Guidance Tool That Can Help Your Clients

How to Request List Price Guidance

Fannie Mae announces the expansion of the HomePath® for Short Sales website,  a communication tool created to help real estate professionals efficiently complete short sales and resolve challenges directly with Fannie Mae.  The website’s new functionality allows listing agents to request list price guidance directly from Fannie Mae prior to listing their client’s property.
How to Request List Price Guidance

  1. Use the Loan Lookup  to determine if Fannie Mae owes your client’s loan
  2. Have the homeowner complete and sign the Fannie Mae Homeowner Authorization form before starting the process of determining a Homeowner’s Eligibility
  3. Contact the servicer to determine a homeowner’s eligibility, in most cases a Borrower Response Package will be required. Click here to view a helpful job aid
  4. Once a homeowner’s eligibility has been determined, register  as a listing agent in the HomePath Short Sale portal
  5. Log into the portal and submit your list price guidance request directly from Fannie Mae.

Resources
Click here to access helpful training materials on the list price guidance request process.

Questions
If you have any questions about the HomePath Short Sale Portal’s functionality please call 1-866-894-0205. If your question or issue does not relate to the HomePath Short Sale Portal, you will be directed to the Fannie Mae resource center 1-800-7Fannie or to the Fannie Mae Short Sale escalation desk.

An Important Change in Closing Table Procedures

The Illinois Department of Revenue (IDOR) is providing a new application, called MyDec, to electronically file real property transfer tax declarations and to print revenue stamps at our website at tax.illinois.gov. MyDec will replace the EZ Dec application currently used in Cook County and the city of Chicago by individuals, law firms and settlement agencies. Cook County and the city of Chicago will be the pilot users, but soon, the MyDec application will be available to every county in Illinois.

On the afternoon of June 12, 2014, EZ Dec will no longer be available.  It is being replaced by MyDec at tax.illinois.gov.  MyDec will become available on Monday, June 16, 2014. 

  • Declarations that were fully submitted for closing prior to that time will be converted into MyDec. Any declarations not submitted (“open” or “inactive” status in EZ Dec) before 2 p.m. on Thursday, June, 12, 2014, will not be converted and will not be retrievable in the new system. Review your accounts ahead of the scheduled transition date and time to verify that your declarations are either in “Submit for Closing” or “Accepted” status if you want to retain access to them. Declarations left in an “Open” or “Inactive” status will have to be recreated in MyDec after conversion.  

Click here for important information about how to prepare for the transition from EZ Dec to MyDec, including Informational Bulletin FY2014-15.  

Note: Prior to the implementation of MyDec, the Illinois Department of Revenue will contact current EZ Dec Account Administrators via email with additional information necessary to associate new MyDec accounts with those previously managed through EZ Dec.

   

 

 

 

Real Estate Committee MCLE – 6/12/14

 Real Estate Cte MCLE Export to Your Calendar

6/12/2014

When: 6/12/2014
11:45
Where: Attorney Resource Center
505 N. County Farm Rd.
Wheaton, Illinois  60187
United States
Presenter: Tammy Rentauskas
Contact: Leslie Monahan
lmonahan@dcba.org
Phone: 630-653-7779

 

REGISTRATION INFORMATION
Online registration is available until: 6/12/2014

DETAILS

As of March 2013, the Department of Housing and Urban Development changed how it preforms closings on HUD owned properties. If you are unsure of where, or how to begin this transaction – you will want to attend this presentation of the ins and outs of closing a HUD Buyers Select transaction.  Speaking about this topic will be Tammy Rentauskas, from Fidelity National Title, an accomplished veteran of the title insurance industry boasting over 20 years of experience specializing in the dynamic and ever-changing field of escrow closings.NOTE:  You must be a current DCBA member to receive credit for MCLE Committee meetings.

Lunch Info:Lunch at the Attorney Resource Center (ARC) is free!

Please register using the link above to ensure there are enough handouts and food for all attendees.

Analysis of Changes to Multi-Board Residential Real Estate Contract 5/8/14

Real Estate Committee MCLE Meeting – May 8, 2014

11:45 am – 1:00 pm

Speakers:  Robert Borla & Joe Fortunato

The presentation will provide details of the anticipated changes to the Multi-Board Residential Real Estate Contract 5.0, with emphasis on the major revisions and the policy decisions that provided the rationale for the changes.  The presentation will also reference changes in lending practices and procedures that provided the impetus for changes, as well as the experience of lawyers using other contract forms and changes to our form that results from such experience.

The presentation will reference the less obvious yet still relevant amendments, some made in response to recent case law and most of which affect lawyers to a greater degree than real estate brokers.

These amendments also have an impact on the legal rights and responsibilities of the parties to the contract.  Finally, we will discuss changes in format and usage suggested by brokers.

Event Info:

Attorney Resources Center
3rd Floor
DuPage Judicial Center
505 N. County Farm Road
Wheaton, IL 60187

Lunch at the Attorney Resource Center (ARC) is free!

Please Register online by clicking here to ensure there is enough food for all attendees.

You must be a current DCBA member to receive credit for MCLE Committee meetings.

Affordable Housing Breakfast – May 15, 2014

Please join us Thursday, May 15, 2014
7:30 – 9 am

Location: Wheaton College
Anderson Commons – 1st Floor of the Todd Beamer Center
(East side of Soderquist Plaza, north of College Ave., Wheaton)

Agenda
Welcome, Opening Prayer/Reflections
Dr. Vincent Bacote, Director
Wheaton College Center for applied Christian Ethics

Introductions and Announcements
Debra Olson
DuPage Homeownership Center

Homes for a Changing Region:
Update on Regional Solutions to Suburban Housing and Community Development

Robin Snyderman, Principle
BRicK Partners, LLC
and
Andrew Williams-Clark, Principal Planner
Chicago Metropolitan Agency for Planning (CMAP)

COST – $15 (pay at the door)
RSVP by Thursday, May 8th to
Joy.E.Trieglaff@wheaton.edu or (630) 752-5886

DHOC thanks Bill Ware and InLand Home Mortgage for the generous donation to underwrite a portion of this event’s costs.

Parking available north of Soderquist Plaza, Howard St. to University Place west to Chase St. north, or south of the plaza, College Ave. to Chase St.

For additional information, please contact
Jennie Petrine at (630) 260-2500, ext. 2501 or jennie@dhoc.org.