Homeownership in Illinois comes with an often-confusing residential real estate tax. It’s important to understand how property taxes work as a homeowner. In fact, paying taxes on residential property taxes in Illinois is something that’s done based on the past rather than the future. Here...
Mortgages are long-term loans secured by real estate and include the principal amount you borrowed against the home as well as interest charged by the lender. Where many people get confused is how much they end up paying in interest over the life of the...
Title insurance is something people don’t usually hear about until they decide to buy a home. It’s a unique type of insurance because unlike most policies where you pay to protect against incidences that will happen in the future, your title insurance policy actually protects...
Title insurance protects homeowners and/or mortgage lenders when legal ownership of a property or home is questioned. Although you might think this is unnecessary, disputes over title ownership do come up even after you purchase residential real estate. With a title insurance policy in place,...
When it’s time to sell a home, sellers are often unsure of the line separating personal and real property. Items like beds and tables go with you, but what about appliances, ceiling fans, or light fixtures? Your real estate agent will draw up a contract...
The size and scope of a real estate transaction should not be underestimated. As we’ve noted before, buying or selling a home is one of the most consequential decisions you’ll make in your life, so getting it right is critical. When you sell, the goal...
As the COVID-19 pandemic continues to threaten and disrupt everyday life, we search for the silver linings, and we’ve identified a helpful one for you: If you’re a homeowner looking to cash in on a lower mortgage refinancing rate, now is a good time. At...
The world has changed since our last blog post, and it’s fair to say life is very different as we make our way through the coronavirus outbreak. Every industry in America (and the world for that matter) has been impacted, including real estate. Illinois has...
Despite the mortgage relief provided by The CARES Act, lenders are tightening requirements when it comes to employment verification. In pre-pandemic times, lenders made fewer verification checks, but with more than 22 million Americans filing for unemployment, they are being more hawkish. If you are...
COVID-19 is disrupting our lives in every way imaginable, prompting people to ask, “What kind of help is out there for me?” The federal government has responded with The CARES (Coronavirus Aid, Relief and Economic Security) Act, offering $2 trillion in financial relief to individuals...
