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Chicago Mortgages

A collection of news and information related to Chicago Mortgages published by this site and its partners.

Top Chicago Mortgages Articles

Displaying items 45-55
  • Short sale with two different lenders a tough transaction to carry off

    By Ilyce Glink and Samuel J. Tamkin Q: I have a question regarding a short sale. If somebody has a mortgage with one bank and home equity line of credit with another, how would the negotiations work if you found yourself facing a short sale? The value of...
  • In hot market, buy now or later?

    By Ilyce Glink and Samuel J. Tamkin Q: I am a married, 65-year-old retiree. I spent 22 years in the military (with a pension), and then worked another 22 years for corporate America. I want to sell our house when my wife retires in 2015. My wife and I...
  • Are underwater homeowners fighting losing battle?

    Q: We are currently underwater on our primary home mortgage. Our mortgage has been modified twice, and all payments were added to the back of mortgage. Our loan balance was once $216,000 and now is $285,000. The home needs repairs, and we have no money...
  • When refinancing, always shop around

    By Ilyce Glink and Samuel J. Tamkin Q: I recently talked to Chase and Quicken Loans, and Quicken came back and said I could lower my monthly payment by $100 and go from a 5.75 percent to a 4.5 percent interest rate. The payment is only $100 cheaper a...
  • Former Chicago cop pleads guilty in mortgage fraud scheme

    Former Chicago cop pleads guilty in mortgage fraud scheme
    A former longtime Chicago police lieutenant pleaded guilty today to participating in a mortgage fraud scheme involving a Northwest Side real estate mogul and a crooked former suburban police chief. Erroll Davis, 52, choked up as he entered his guilty...
  • Despite signs of a seller's market, it's still a great time to buy real estate

    Home buyers and real estate investors have been in a good mood for years, since around 2007, when the housing crisis began. And why not? Historic low interest rates and home values that have dropped off anywhere from 30 to 60 percent are a potent...
  • Mortgage restriction on renting out property not likely to be enforced

    By Ilyce Glink and Samuel J. Tamkin Q: I have a question about renting a second home that has a mortgage that states "you cannot rent this property." Here's the story. About two years ago I bought a beautiful cabin in Blue Ridge, Ga., that was a...
  • A 1031 exchange gone wrong

    Q: During the process of completing a 1031 exchange, my mortgage broker told us the day before our 180 day limit for closing on our purchase that our lender didn't approve the development. We worked with this broker for six months, got approved and...
  • Whither real estate market as interest rates rise?

    By Ilyce Glink and Samuel J. Tamkin Wouldn't you know it? There are still buyers wondering if now is the time to buy a home. Now, when inventory is extremely low, mortgage interest rates are starting to rise and home prices have seen huge price jumps...
  • Heir of income property wants to minimize tax liability

    By Ilyce Glink and Samuel J. Tamkin Q: I recently inherited a rental property. The property is rented and cash flow is positive, despite the fact that there is a mortgage on the property. Currently, I do not need the income that the property is...
  • Companies hiring for the holidays

    Companies hiring for the holidays
    Every year, it seems as though retailers are prepping for the holiday season earlier and earlier. Before Halloween even arrives, some stores have already started running advertisements or stocking their shelves with gifts for the winter holidays. While,...