GREAT news for Illinois first-time home buyers!
The Illinois Department of Human Services has a program to assist families and individuals purchase their first home! This program is called Assets Illinois. The goal of this program is to help 850 families and individuals each year purchase their first home. Don’t miss out on this $2,000 grant! Click here to learn more or contact Amy at (847) 877-9881.
Short Sale FAQ
by Tim and Julie Harris
Q: Do I have to miss a payment to do a Short Sale?
A: No. Late last year most major lenders started accepting short sale offers from sellers who have never missed a payment.
Q: I just missed a payment and I know I will miss more…how long does the foreclosure process take and is there time to do a short sale?
A: The foreclosure process takes differing times depending on your state. In the Illinois a foreclosure can take over a year. Generally speaking a well priced short sale being processed by an educated short sale listing agent will sell and close in less than 140 days.
Q: I owe more than my home is worth and I can’t make the payment. Do I have to somehow qualify for a short sale?
A: The simple answer is NO. If someone can’t make their payment and they are otherwise insolvent, they qualify for a short sale. Note: insolvent simply means their total debts are great than their assets.
Click here to learn more about short sales.
The military has long been part of the history of Chicago and the northern suburbs, especially the Navy and the Marines. Great Lakes Navy Base was founded in 1911 and in 2000 Marine Air Control Group 48 made this area its home. One of my real estate specialties is in helping military personal relocate into or out of Lake County and other areas. Click here to learn how I can help!
