illinois foreclosures: Illinois foreclosures still way up! - 07/11/08 01:13 AM
FRONT PAGE OF THE DAILY HERALD!
Significantly more Chicago area households received some type of foreclosure notice this June than last, suggesting the local foreclosure problem stands to get worse before it gets better.
June foreclosure filings - including default notices, auction sale notices and bank repossessions - increased by 76 percent in Lake County, 53 percent in Cook County, 36 percent in McHenry County, 31 percent in Kane County and 30 percent in DuPage County compared with the same month a year earlier, according to statistics from RealtyTrac Inc.
Statewide, June foreclosure filings increased by 42 percent over the previous … (0 comments)

illinois foreclosures: Agents Listing A Short Sale On Their Own Home - 07/10/08 01:23 AM
 Agents Beware!   The lender can take 100% of your commission and apply it to what's owed the lender if they catch you being the agent of your own Short Sale. 
Think about it.  As the Seller you are not allowed to profit anything from a Short Sale, so why wouldn't the lender take the commissions if they were going to you?  You are asking them to forgive tens of thousands of dollars in debt and you want to try and walk away with a few thousand of that?
In my office, listing your own Short Sale is NOT allowed!  Agents are too emotionally attached to … (9 comments)

illinois foreclosures: New Short Sale Book! - 06/23/08 02:48 PM
   Tim and Julie Harris do it again!  What an awesome idea.
A big thanks to Tim and Julie Harris for allowing me to co-author this book!  I'd recommend it to any agent that needs more help understanding the short sale process.  247 pages of facts, myths, secrets, etc.  And a big thanks to my proof reader and short sales coordinator, Stacy that edited and corrected hundreds of little mistakes!
Got a client that is being foreclosed on and sitting on the fence?   Get them a copy!
This book has a State By State Guide as to how the foreclosure process works … (13 comments)

illinois foreclosures: Upcoming Lake In The Hills Events - 06/16/08 12:07 PM
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847-960-7460
 
Bike Rodeo
The Police Department … (0 comments)

illinois foreclosures: PMI Short Sale question - 06/16/08 12:02 PM
Question for all of you Short Sale Experts
I pride myself on my 100% of my short sales have closed reputation.  But today I got a new closing condition thrown at me!  Citi Mortgage wants my seller to pay the PMI Company $13,000.  We agreed and went back and found another buyer that was willing to come up the $13,000 they were looking for, so i submitted the new HUD to the lender and on the PMI line I put the $13,000.
Citi Mortgage emails me back this:  "I will send you the approval letter and note and just follow the terms of … (10 comments)

illinois foreclosures: Shocking Chicago Illinois Foreclosure Numbers - 04/27/08 04:07 AM
Home owners, if you think you are alone..think again!  Here is a startling report I put together this morning.
I thought it would be a good idea to update this every month so we can watch the trends and hopefully realize when this cycle will come to an end. (Which by the way I don't think will be for at least another year) but that's just my opinion.
Brokers and agents....WAKE UP!!  Get with the times..I am sooooo tired of hearing agents tell me they are taking jobs at Starbucks or Lowes, etc because they can't survive in this market.  OMG..look at the number of … (16 comments)