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powerteamhomes: Deadline to request a foreclosure review was extended three (3) months - Powerteamhomes.com - 02/22/12 12:53 PM
You may have clients who qualify to have their foreclosure case checked by a third party as part of the federal regulators’ independent foreclosure review directive now have until July 31, 2012 to submit their requests. How about notifying your database? This is great info for them either way. The Federal Reserve and the Office of the Comptroller of the Currency (OCC) announced this past Wednesday the 15th the postponing of the deadline to give consumers more time if they believe they suffered financial injury as a result of foreclosures actions from 2009 or 2010.
The independent foreclosure reviews only apply … (0 comments)

powerteamhomes: IRS and “forgiven” mortgage amount(s) - PowerteamHomes.com - 01/16/12 01:04 PM
Some of you keep asking if the IRS will go after stressed sales homeowners for the
forgiven amount they did not pay via the sale of their home that closed for much less than the mortgagenote. Back in 2010 and reported on our Monday’s MEMO’s we gave you the details on it: a two(2) year “stay” on that making it to December 31, 2012.
However, the IRS came up with certain restrictions on it (as they always do), and will revieweach case independently based on the following and more:• Amount forgiven vs. amount actually owed on the mortgage• Value of home … (0 comments)

powerteamhomes: A New Twist to Estate Planning in Illinois - PowerteamHomes.com - 11/21/11 04:45 PM
 
 
 
A new law will soon make it easier to transfer residential real estate upon death while avoiding the time and cost of going through probate.  Governor Quinn recently signed into law the Illinois Residential Real Property Transfer on Death Instrument Act which takes effect January 1, 2012. 
 Under the Act, an owner of residential real estate may execute a Transfer on Death Instrument (“TODI”), which allows the property to pass to one or more designated beneficiaries upon the death of the owner.  The designated beneficiary could be an individual, corporation, trust, partnership, limited liability company, or a … (1 comments)

 
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Paul N. Paterakis Lake Zurich, Long Grove, Hawthorn Woods, Kildeer Real Estate

Lake Zurich, IL

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The Paul Paterakis Power Team-Remax Showcase Homes For Sale

Address: 7159 RFD, Long Grove, IL, 60047

Office Phone: (847) 388-7551

Cell Phone: (847) 366-3455

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