We Won’t be Bribed. Don’t Support the Biden Homebuyer Tax Credit

President Joe Biden has proposed an annual tax credit that would give lower-income Americans $9,600 over the next two years to help with the financing of their first or second home. Sounds great, right? This tax platform will be an unmitigated, $806,400,000,000.00 disaster that our grandchildren’s children will owe eighty years from now. I arrive […]

Chicago Foreclosure Lawyer Explains – 7 Steps to Illinois Mortgage Foreclosure Law

2023 Foreclosure Filings Timeline by Chicago Foreclosure Attorney

Foreclosure can be a daunting and stressful process for any homeowner, and understanding the timeline and key milestones can help you navigate this challenging situation more effectively. In Chicago, the foreclosure process is primarily judicial, meaning it involves the court system and follows a specific timeline with various stages. In this article, we will discuss the critical steps and deadlines in the Chicago mortgage foreclosure timeline to help homeowners gain a better understanding of the process and the options available to them.

SB1872: Illinois Law on Wholesaling Houses

wholesale home real estate

On the first of January, 2020, the State of Illinois passed SB1872, and effectively outlawed real estate wholesaling in Illinois. Undoubtedly, many investors are scrambling to find a business model that fits the new law. So, today we will answer three questions: First, what is Real Estate Wholesaling? Second, why did Illinois make wholesaling houses […]

Illinois Real Estate Disclosure Law – 2022 Form and FSBO Disclosures

2022 Illinois Residential Real Property Disclosure Illinois Disclosure law for for sale by owner disclosures

If you’re looking to sell residential real property in Illinois, it’s important to understand the Illinois real estate disclosure laws. Whether you’re selling a single-family home, a condo, or a four-unit multifamily property, you must file a disclosure form as defined by law. Even if you’re selling the property as-is. In fact, the Illinois Association […]

Quantitative Tightening and Inverted Market Economics of Housing

quantitative tightening and modern monetary theory

Reuters just published an article announcing a leak from the Federal Reserve about the beginning of Quantitative Tightening – https://www.reuters.com/business/calling-time-qe-central-banks-prep-synchronized-asset-cull-2022-04-19/. What, you might ask is that? For the last decade, the Banks have been adding money to their balance sheets at the end of every day. This is called Quantitative Easing. They do this through […]

Eviction Moratorium Ends in Illinois on October 3!

eviction moratorium landslide of cases in illinois

The Illinois eviction moratorium is over on October 3. The new Illinois executive order 2021-23 preserves most covid regulations through October 16 but ends the ban on evictions on October 3. With these new changes, landlords are now able to evict tenants for a variety of reasons, including non-payment of rent. Landlords should be sure […]

Remote Closings in Illinois – Can Real Estate be Contactless?

stay home design for covid19 contactless closings with floorplan

Last week, my entire LinkedIn was buzzing about how to do a “contactless closing.” For many real estate closing attorneys, remote closings represent our best chance of staying normal in our markets. But, Illinois has non-conforming electronic transactions laws. How do we do it? Is there help for doing remote closing in Illinois? What can we do during the COVID era?