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Formalwear retailer Caché announced plans this week to launch going-out-of-business sales at all of its more than 150 retail locations nationwide. The company, which has failed to generate a profit since 2011, joins a growing list of women’s retailers that have been forced to file for bankruptcy this year. With prom around the corner for many high school juniors and seniors, Caché expects to raise more than $18 million from its going-out-of-business sales to pay its largest creditor. Launched in … [Read more...]

Despite the fact that large corporations and major municipalities take advantage of the benefits and protection of filing for bankruptcy, there is still a stigma for the average individual who uses bankruptcy as a means to deal with overwhelming debt. According to a new Fox Business article, however, people who are struggling financially may actually do more harm than good when they fail to file for bankruptcy.  The article stresses that, “Those who filed bankruptcy saw an improvement in their … [Read more...]

If you are putting your home on the market for the first time, it is difficult to know exactly what to expect once you post the “For Sale” sign in your yard. That’s where your real estate agent can be an invaluable resource to walk your through the entire process. A new Zillow article highlights the top three questions home sellers should ask their agents before listing their homes. Knowing the answers to these questions will not only help set your expectations as offers start to come in, but … [Read more...]

Pending home sales have jumped to their highest level since August 2013 thanks to increased buyer demand. That is the finding of the latest report from the National Association of REALTORS. The promising data, which is based on January 2015 pending home sales, shows an increase for every region nationwide except the Midwest, which decreased 0.7 percent. The South experienced the most significant gain with a 3.2 percent increase. The West saw a 2.2 percent gain. According to Lawrence Yun, the … [Read more...]

The urban legend that Starbucks is good for the neighborhood now has data to support the claim. According to Zillow’s Home Value Index, homes that were located within a quarter mile of Starbucks experienced a 96 percent increase in home value between 1997 and 2014. That’s nearly 30 percent higher than the U.S. average increase for all other home values during the same period. Chicago ranks 4th on the list of U.S. real estate markets that have experienced the greatest property value increases … [Read more...]

Unless you’re expecting to receive a refund, it is difficult to get excited about filing your taxes. Nonetheless, it is the law and failing to file can lead to stiff penalties–even jail time. If you’re one of millions of Americans who have missed filing a tax return, you do not have to wait for the IRS to come knocking on your door to get back on track. There are six simple steps you can take now to help you gain control of the situation. One of the first steps is to file all missing returns as … [Read more...]

Getting your home to stand out in the sea of online listings is one of the biggest challenges for the modern day home seller. According to Trulia, the nation’s second largest online listing website, there are 7 overlooked selling points that first-time buyers love but sellers fail to highlight in their listings. Even though you’re ready to move on to a new property, remembering what originally drew you to your home will help you shine a light on features that you may have now outgrown. For … [Read more...]

With more than 40 percent of Americans between the ages of 55 and 64 having no retirement savings, reverse mortgages continue to be an option for seniors looking for creative ways to generate retirement income. Unlike millennials, nearly 75 percent of senior Americans own their home. A recent Chicago Tribune article takes a careful look at the pros and cons associated with selecting this unique mortgage product, which defers interest and loan payments until the homeowner dies, sells or … [Read more...]

Did you know that in the State of Illinois, anyone can set up shop to prepare your taxes? In fact, only California, Maryland, New York and Oregon require tax preparers to meet certain minimum requirements. So how do you go about choosing a reputable tax preparer who won't overcharge you--or worse, make costly errors on your tax return that could lead to an IRS audit? According to Sandra Block, senior associate editor with Kiplinger’s Personal Finance magazine, there are several things you can … [Read more...]

In an effort to keep its 260 stores open nationwide, America’s largest Christian retail chain has filed for Chapter 11 bankruptcy. Family Christian Stores says it is struggling with excessive debt because of declining sales. The drop in sales started in the wake of The Great Recession and has lingered in large part because of a consumer shift toward buying books, music and movies digitally. Chuck Bengochea, the company’s president and CEO, released a video statement about the filing saying, “I … [Read more...]