Month: January 2011

A TRUE STORY…BUYING A BANK-OWNED FORECLOSED HOUSE IN CHICAGO

Some pitfalls to be aware of. I represent a buyer who made an offer on a bank-owned house. It took us 3 weeks of negotiating with the bank to come to agreement on terms. They signed the paperwork within 5 days after it was sent to them. So far so good… The house was sitting

Some Hurdles Getting a Mortgage – True Story as of January 2011.

I have a buyer whose income varies from year to year due to commissions/bonuses and his wife just graduated from medical school and has been working full-time for 6 months but is paid by 1099 (independent contractor). They have credit scores in the mid to high- 700’s. They also own some rental property which was

Buying a Bank-Owned Foreclosure – a true story

A timetable and description of events from an offer made on a bank-owned foreclosure condo in Chicago and the outcome. I recently represented a buyer for a condo on Chicago’s northside neighborhood of Edgewater/Rogers Park. It was listed below $80,000 which seemed extremely low given the fact that upon my research of similar units which had sold

Chicago’s Logan Square Neighborhood

Located on the NW side of Chicago Logan Square has become a location in convenient proximity to Downtown Chicago.   It is only 6 “L” stops from Chicago’s Loop and reflects an artsy multi-ethnic diversity. The central commercial/business district runs along Milwaukee Avenue which is the longest boulevard in Chicago (about 40 miles long). Milwaukee

Rent vs. Own Calculator

Rent vs Own Calculator: Considering buying a house, but not sure it’s worth it for you in the long run? What is the best financial decision for you? Use this calculator to compare your renting costs against those of owning your own home.

Mortgage Pre-Qualification

Mortgage Pre-Qualification: So you’re pretty sure you really want to buy a home, but are you financially capable of it? There are many factors that you need to consider and balance while making this decision. This calculator will give you a good idea of whether you’ll qualify for a how much of a mortgage.

Monthly Payments

Monthly Payments: OK, you want to buy a house and you know you can get financing, but what is the true month to month payment you will need to be responsible for? This calculator will reveal how those house prices you see in the MLS break down so you can determine how much house will

%d bloggers like this: