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How Rising Interest Rates Are Impacting the Real Estate Market

On May 4th, 2022, The Federal Reserve announced that short-term interest rates would increase by 0.50% to combat inflation and stabilize the economy post-pandemic. The rising interest rates have broken records and have had a noticeable impact on the real estate market, particularly for investors. This is nothing new. Interest rates have historically been reduced to support an ailing economy by stimulating growth. It’s what happened during the recession and when the Covid-19 pandemic first hit. The downside was inflation, which increased inter...

Do DUI Arrests Increase in Illinois During the Summer?

Summer accounts for 28% of driving fatalities in Illinois and the US, making it the deadliest season. The Fourth of July, Labor Day, Memorial Day, and other summer holidays are considered the deadliest for DUI-related car accidents. If you are charged, you can face hefty fines and jail time. The charge can also compromise your job prospects, harming your home life. Defense Illinois DUI lawyers can help you avoid such situations or reduce the charges. How to Avoid A DUI During Summer? Whether you are partying with friends or celebrating a nation...

How Have Rising Real Estate Prices Affected Short Sales in Illinois?

Real estate market prices will continue to increase throughout the year, and sales are forecasted to decrease. In February, for instance, the median price in Illinois rose, but homes in the state still sold rapidly despite a sparse inventory. At this time, the increase in real estate prices slowed, but the industry remained competitive. A short sale during this time may yield the same results that it would in a stable economy, but expect a faster sale. Experienced Illinois short sale attorneys can help you set up a short sale quickly and effici...

How Does a Deficiency Judgment In Illinois Work?

The Illinois foreclosure process can be complex and have long-lasting financial repercussions. In the state, lenders can also get a deficiency judgment against defaulting borrowers to acquire an outstanding balance of a loan post-foreclosure. At this point, borrowers should consider hiring an experienced and determined Warrenville foreclosure defense attorney. What Is A Deficiency Judgment? A lender can ask the court to pass a deficiency judgment if they want to pursue an outstanding balance on a loan after a property is foreclosed. The debt an...

Is It A Good Time For A Home Loan Modification?

While the Covid-19 pandemic is ending, homeowners are still falling behind on mortgage payments as they build back their finances. Foreclosures hit record low rates in 2021 due to government relief efforts, but will that trend end as the housing market normalizes? A home loan modification is a good idea for homeowners who face foreclosures down the road despite these relief programs. What Is A Home Loan Modification? A home loan modification is ideal for homeowners who want to leave forbearance but are not eligible for refinancing. If your fina...

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