For the first time in more than 30 years, bankruptcy experts are revamping the forms people use to file for bankruptcy. The new official bankruptcy forms, which are expected to become available on Dec. 1, are designed to be less confusing and free of legal jargon to make it easier for the average person to complete. However, during the recent public comment phase for the new forms, critics complained that the simpler format may mislead filers into incorrectly thinking they can handle their own … [Read more...]
8 Real Estate Professionals That Help You Sell Your Home
November 23, 2015 by
Selling your home, especially during the slow winter season, can be a major challenge—even if you have a house full of must-have features. But, the right team of professionals working with you to get your home sold can make a stressful process flow more smoothly. According to Trulia, there are eight key real estate professionals every seller should have on their team to help them get to closing as quickly as possible. In addition to working with a real estate agent, Trulia recommends hiring a … [Read more...]
Down Payment Assistance: Resources That Can Help
November 19, 2015 by
For many aspiring homeowners, the down payment is a major barrier to achieving homeownership. But if you have a strong credit history and a good source of income, it doesn’t necessarily have to be. According to a recent article by Credit.com, there are a variety of down payment assistance programs offered by lenders, nonprofit organizations, and state and local housing authorities that could get you your dream home sooner. In Illinois, the 1stHomeIllinois program offers up to $7,500 in cash … [Read more...]
5 Things to Look for When Buying Your First House
November 17, 2015 by
If you’re looking to transition from renting to homeownership in the near future you may be the perfect candidate for a starter home. By their very nature, starter homes are not designed to be your forever home. But, if you’re new to the real estate market, you may not know what to look for when buying your first house. Thankfully, a new article from Trulia, the online real estate authority, offers insight into the five standout characteristics your starter home should have. One of the most … [Read more...]
11 Smart Ways to Make Money When Moving to a New House
November 13, 2015 by
Even if you do it yourself, moving to a new house is expensive. Thankfully, a new article on Realtor.com offers 11 smart ways to get back some of the cash you’ll shell out for a moving truck, boxes, bubble wrap and packing tape. You can help save the Earth and make a few bucks back by recycling your moving boxes with a service called BoxCycle. They offer between .50 cents and $2 per box, depending on the size. Another smart tip, especially if you’re downsizing to a home with less closet space, … [Read more...]
3 Reasons You Should Not Buy the Best House on the Block
November 11, 2015 by
While it may be great for bragging rights, buying the best house on the block is not the best financial move according to real estate writer Jamie Wiebe. In a recent article for Realtor.com, she explained three reasons why homebuyers should think twice before making an offer on the best house on the block. One of the most compelling reasons she offers is that someday you will more than likely need to sell it. Even if you think you want to live in the home forever, a job transfer, divorce or loss … [Read more...]
How to Choose a Tax Preparer for Filing Season
November 9, 2015 by
With just two months until tax filing season begins, the IRS is helping taxpayers get ready with a new tax preparedness series. The latest installment in that series offers 10 tips on how to choose a tax preparer. To avoid hiring an unethical tax preparer or being the victim of a tax scam, the IRS encourages you to research your tax preparer’s history with the Better Business Bureau before providing them with your tax information. They also now offer a searchable online directory that allows you … [Read more...]
Denial Rates Down for Minority Borrowers
November 5, 2015 by
Mortgage approvals are getting slightly easier for minority borrowers according to the latest research released this week by Zillow. While mortgage approvals for Hispanic and black mortgage applicants are still not on pace with white and Asian borrowers, the denial rates have decreased for both minority groups across the nation. For black borrowers, the denial rate dropped 4.1 percent between 2013 (27.6 percent) and 2014 (23.5 percent). Hispanic borrowers experienced a 3.1 percent drop in the … [Read more...]
Home Flippers See Significant Bump in 3rd Quarter
November 3, 2015 by
The declining trend of house flipping is making a comeback in many markets nationwide according to Realty Trac’s third quarter 2015 U.S. Home Flipping Report. The report reveals that real estate investors flipped 18 percent more homes last quarter than they did during the same quarter in 2014. Home flippers in Pittsburgh led the nation with the greatest ROI at 78.4 percent. Five Cook County zip codes (60652, 60402, 60629, 60638, and 60634) also made the top 20 list for average gross flipping … [Read more...]
11 Tips on How to Winterize a Vacant House
October 28, 2015 by
If you’ve already moved into your new dream home, but your old home is still sitting vacant on the market, it may be necessary to think about prepping the property for the winter cold. A recent article from RISMedia’s House Call offers 11 tips on how to winterize a vacant house. Bursting pipes are one of the biggest risks vacant homeowners face once temperatures dip toward freezing. To keep this problem at bay, be sure to drain and disconnect outdoor garden hoses and hire a professional plumber … [Read more...]
