Rising Interest Rates Prompt Decrease in Mortgage Apps

Mortgage applications decreased 5.5 percent last week following a spike in interest rates according to the Weekly Mortgage Applications Survey conducted by the Mortgage Bankers Association. The survey’s 30-year fixed rate of 4.22 percent is at its highest level since October 2014. Increasing rates have had an impact on both new mortgage apps and refinance activity. Mike Fratantoni, chief economist for the Mortgage Bankers Association told HousingWire, “Rising rates continue to create volatility … [Read more...]

The IRS Fresh Start Program

The IRS has recently updated its procedures for the collection of past-due taxes to include a "Fresh Start" program.  The program is designed to offer some relief to individuals and businesses which owe  "smaller amounts" to the IRS, and are not out of compliance with Tax Filing requirements, or to those which can be brought into compliance within an acceptable period of time. To begin, taxes are high and there is an incredible, and ever increasing, burden of compliance and paperwork coming … [Read more...]


A man using the telephone number listed above has been calling people and identifying himself as working with the Internal Revenue Service Criminal Investigation Division.  He then follows up by telling the person he called that they owe the IRS money and then proceeds from there. This is a scam.  The IRS Criminal investigation Division does not call people and tell them that they owe money.  The IRS Criminal investigation investigates tax fraud. If you receive a call from this individual … [Read more...]


A bank can be engaged (as well as they seem to become engaged) in the process of evaluating your home mortgage loan for modification and at the same time  go after ownership of your residence through judicial foreclosure. Although Illinois homeowners continue to struggle with their mortgage payments and try to avoid foreclosure, many banks and mortgage companies continue to pursue foreclosures against borrowers seeking loan modifications while the application for modification is still under … [Read more...]

One Law Firm’s Opinion: State of Illinois Department of Revenue at War With Tavern Owners. Wake Up Call to An Industry.

We have had a substantial increase in the owners and operators of Tavern's, Bar's and similar establishments coming to our office with the same complaint:  "The Illinois Department of Revenue has just presented me with an enormous bill for Sales Tax.  I'll never pay this.  They have just put me out of business.  What can I do?" Wake up call to an industry, we do a fair amount of work against the Illinois Department of Revenue, particularly through Administrative Hearings.  The word we are … [Read more...]