Tax Assessed Value vs. Appraised Value – Understanding the Difference

What is the value of a piece of real estate? In a lot of ways, it really does depend on who you ask. For first-time homeowners, investors, or developers, it’s important to understand what exactly people mean when they talk about the value of a property, and, just as importantly, how this valuation is determined. In particular, there is one common question that tends to come up with some frequency: Why can there often be such //READ MORE

2020-03-11T20:07:25-05:00March 17th, 2020|Community|

Debt Collection Complaints: What the FTC and CFPB Have to Say

For anyone who has struggled with debt, you know how much that financial strain can impact every other part of your life. From negatively affecting your health to limiting your ability to enjoy life, debt can take a serious toll on your well-being and quality of life. This is particularly true when dealing with debt collectors, who may contact you in a variety of ways as they attempt to pursue an outstanding debt.  The fear of //READ MORE

2020-02-27T18:40:43-06:00March 10th, 2020|Community|

In Illinois, How Are My Property Taxes Determined?

Did you know that, as of 2018, Illinois residents paid the second-highest property taxes in the U.S.? That stat comes courtesy of a report brought to our attention by the Chicago Tribune, which found that Illinois came only behind New Jersey in terms of property taxes. Property taxes are collected by state and local governments, and go toward any number of essential functions, including providing funding for schools, infrastructure, public works projects, first responders, and more. //READ MORE

2020-03-05T12:57:49-06:00March 5th, 2020|Community|

When Is a Bankruptcy Case Over?

For people struggling with severe and burdensome debt, bankruptcy can be one way to receive a fresh financial start. Bankruptcy can allow debtors to discharge certain debts and reorganize others, in order to make them less of a month-to-month burden. With that said, it’s important to realize that the bankruptcy process can be long and complex — and many debtors wonder when the process will actually be over and done with for good.  //READ //READ MORE

2020-02-20T15:06:26-06:00March 3rd, 2020|Community|

What Is a Quit Claim Deed?

Growing up, you may have heard that it’s a bad thing to quit. But here in Illinois, many people transferring real estate nevertheless consider a “quit claim deed” as a way to exchange their property quickly.  Here in Illinois, we generally use two words to refer to quit claim deeds — a type of deed which is used to convey property ownership without any warranties, and is often used among close family or friends. You may //READ MORE

2020-02-13T17:47:29-06:00February 25th, 2020|Community|