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How Short-Term Rentals Have Impacted Real Estate Prices
In recent years, real estate websites, such as Airbnb and HomeAway, have affected the real estate market nationwide because the supply of short-term rentals has increased eight times since 2011. As a result, Airbnb and similar short-term rentals (STR) have become highly popular investments that look to continue for the foreseeable future. However, there has been considerable debate in many cities about the impact of short-term rentals on the availability and prices of real estate. Many say an ‘Airbnb effect’ hits many communities as hosts t...
Attorney Sadia Covert’s Article Featured in the DCBA Brief
Read Sadia Covert’s article on the Retrieval of Removed Children From Foreign Countries which was recently published on the DuPage County Bar Association website. ...
What To Do If Your Property Is Going Into Foreclosure
If your home is going into foreclosure in Illinois, it is understandable if you are stressed and unsure about the future. However, be aware that if you are behind on your mortgage payments in Illinois, the loan servicer will eventually start the foreclosure process by filing a lawsuit in court. However, it can take 12 to 15 months in Illinois to complete a foreclosure, so you may have time to work things out. In this article, you will learn what to do if your property is going into foreclosure. If you need help, you can count on our foreclosure...
How Rising Interest Rates Are Impacting Mortgage Rates
Anyone interested in buying a home with a mortgage has probably heard about rising mortgage rates recently. Rates have been steadily climbing since 2022 and are almost double what they were a year ago. Whether mortgage rates go up or down, underlying interest rates set by the Federal Reserve always affect them somewhat. Learn more below about how rising rates are affecting mortgage rates. Then, if you need help with your next real estate transaction, the Illinois real estate attorneys at Covert Marrero Covert LLP are ready to assist. Why Do Mor...
How To Know When To Seek A Home Loan Modification
You may have heard about home loan modification if you have a mortgage and struggle to make on-time payments. Loan modifications offer long-term relief for homeowners who cannot afford their mortgages. If your lender approves the plan, you may avoid foreclosure, receive a lower interest rate, and receive other benefits to ease your financial burden. When should you consider a loan modification? Keep reading to learn more, and speak to our Illinois home loan modification attorney at Covert Marrero Covert LLP for more information. Home Loan Modif...
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