Foreclosures are on the rise in the United States. After being down for the year of 2020, they’ve began to increase in recent weeks. The month of February saw a rise of 16 percent. So far in 2021, the hardest hit states have been Utah, Delaware, Florida, Illinois, and...
A difficult economy, job losses or reduced hours and a shuttering of storefronts across the nation is making it more difficult for many Chicagoans to meet their financial commitments. While letting the family home go into foreclosure is not an easy decision, it can...
According to recent data, so far 2020 has seen fewer foreclosures than last year. November 2019 saw approximately 50,000 foreclosures. However, as of September 2020 only 10,000 homes were foreclosed upon. This should be good news for homeowners in Chicago, but this...
Landlords and tenants create legal relationships through the lease agreements that they execute. In Chicago, residential leases are governed by the provisions of the Residential Landlord and Tenant Ordinance (RLTO). The RLTO requires the parties to residential lease...
In the grand scheme of things, commercial leases are nothing more than contracts. They are binding, which means that those who break them can be taken to court and potentially face a judgment. Most people want to avoid the costs and headaches associated with these...
Businesses want to be paid for their services. Residents and businesses in Chicago and other areas in Illinois might be interested advice about collecting debts that have been sustained by customers and business partners. Those who have extended credit and not been...
Homeowners in who face foreclosure in Chicago could still be pursued for the remaining balance. Some lenders may file a deficiency judgment as an attempt to collect the difference between the money made on the foreclosure sale and the loan balance. Lenders seldom make...
