708-598-5999

If you filed bankruptcy and surrendered your home, you probably expected to be finished with the matter once your bankruptcy case was closed.  However, even though you receive a discharge and are not required to pay back the mortgage if you surrendered your home, the bank must still foreclose to obtain title to the property so it can sell it.  Bankruptcy does not automatically give title of the property back to the lender - - only a deed in lieu or a foreclosure can accomplish that. For more … [Read more...]

If you are searching for a “spooky” home in Chicago, you are in luck.  According to a recent analysis, Chicago ranked third in the number of homes for sale near cemeteries. You might think that you can save money if you buy a home next to or very close to a cemetery - - you are wrong.  Homes within feet or yards of a cemetery may take a little longer to sell (and not as long as you might think) but on average they sell for more per square foot.  Homes closest to the cemetery sold for more per … [Read more...]

The government shutdown overshadowed the rollout of the Affordable Care Act (a/k/a Obamacare); however, it rolled out nonetheless.  Many parts of the Act seem confusing but one that is clear is that families with incomes at or below 400% of the federal poverty level will receive tax subsidies to help pay for health insurance.  There are two types of assistance: premium assistance subsidy to reduce health insurance premiums and cost-sharing subsidy to reduce out of pocket health care costs. To … [Read more...]

Most consumer or personal bankruptcy cases never make national news; however, when the Debtor is Casey Anthony that is not the case. From the trustee wanting to publish her story as an asset of the case to creditors suing to keep her responsible for their debts, there is nothing usual about this bankruptcy case. EquuSearch claimed it was owed over $100,000 for expenses in the search for Anthony’s daughter who Anthony already knew was dead.  In court this week, EquuSearch agreed to drop the suit … [Read more...]

For months, both sides have been fighting a war of “words” in the media stating their position about whether Detroit’s bankruptcy should be allowed to proceed. Detroit is the largest public bankruptcy in U.S. history and it took over the bankruptcy spotlight in the news even before the city’s emergency manager and his legal team filed the bankruptcy petition.  Beginning today, Bankruptcy Judge Rhodes will hear testimony and arguments from both sides on the eligibility question.  The trial is … [Read more...]

No one borrows money or goes into debt with the intention of filing bankruptcy.  Most people borrow money when emergencies arise or things come up.  However, there are circumstances that happen to prevent people from paying their bills as they intended. This is when bankruptcy may be the best option to alleviate the debt burden.  If you are struggling to pay your debts but the balances do not go down or you find yourself borrowing money to pay back money, you need to consider bankruptcy. For … [Read more...]

According to financial guru Suze Orman, filing bankruptcy is a better option than sticking your head in the sand and ignoring the problem.  Clients may not like the idea of filing bankruptcy; however, it is a stark reality for many.  By not paying your bills and ignoring the situation, you are still coming to the same result as if you file a bankruptcy - - you bills are not paid. The difference is that your creditors can sue you and obtain judgments without a bankruptcy but with a bankruptcy, … [Read more...]

Most sellers avoid the holidays because the days are shorter, people are busy with holiday activities and the weather may not permit potential buyers from seeing the curb appeal of a home.  However, sellers that are marketing their home during the holidays are usually very motivated to work out a deal to sell the home as quickly as possible. Potential buyers can use this motivation to their advantage to find some great deals on homes during the holidays. To find out why you should buy a home … [Read more...]

A 79-year old widow was forced into bankruptcy when she could not pay her creditors and, in her words, they “threatened to take me to court.”  What should have been a simple no-asset Chapter 7 bankruptcy case has turned into a two-year battle that is now waiting to be heard by a federal appeals court. At issue, the debtor’s rent-controlled apartment.  Her landlord, not a creditor as she has remained current on rent, offered to buy the lease.  The bankruptcy trustee agreed that this lease is an … [Read more...]

Senior citizens are often the targets of financial scams for several reasons.  Seniors typically have some type of retirement money or savings account built up and they usually own their home and other assets.  They are less likely to report the fraud because they are unfamiliar the system or do not even realize they have been scammed.  Con artists often use products or services that appeal to senior citizens such as products that will make them healthier or more secure physically as well as … [Read more...]