Bradford Miller Law, P.C. Chicago Real Estate Attorney, Chicago Short Sale Attorney: February 2015

Friday, February 27, 2015

Who is Freddie Mac?

Freddie Mac's company profile provides the following information:

"Freddie Mac was chartered by Congress in 1970 with a public mission to stabilize the nation's residential mortgage markets and expand opportunities for homeownership and affordable rental housing. Our statutory mission is to provide liquidity, stability and affordability to the U.S. housing market.

We participate in the secondary mortgage market by purchasing mortgage loans and mortgage-related securities for investment and by issuing guaranteed mortgage-related securities, principally those we call PCs. The secondary mortgage market consists of institutions engaged in buying and selling mortgages in the form of whole loans (i.e., mortgages that have not been securitized) and mortgage-related securities. We do not lend money directly to homeowners.

Freddie Mac is operating under a conservatorship that began on September 6, 2008, conducting our business under the direction of the Federal Housing Finance Agency (FHFA)."

Bradford Miller Law, P.C. can assist you with all your real estate needs. From buying, selling, renting and even helping you with a building code violation we are here to help with all your real estate needs at a very reasonable rate. Our experienced Real Estate Attorneys have been representing real estate clients for several years now and have earned membership in the Better Business Bureau.

At www.bradfordmillerlaw you will find information about our firm along with helpful real estate information. To discuss your pending or potential real estate transaction call us at 312-238-9298 for a Free 15-minute consultation.

Posted by Bradford Miller Law, P.C.

Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning

134 N. LaSalle, Suite 1040

Chicago, IL 60602

Offering free legal representation to homeowners seeking a short sale

Key words: Chicago short sale attorney, Chicago landlord tenant law attorney, Chicago estate planning attorney, Estate Planning Lawyer, Chicago leases, Chicago real estate attorney, Chicago real estate lawyer, Chicago real estate closings, Chicago building code violations, Short sale attorney Chicago. This is intended to be advertising. Please consult with an attorney before acting on any information given here.

Tuesday, February 24, 2015

Who is Fannie Mae?

Fannie Mae is a New York stock exchange company. It is a public company that operates under a federal charter and is the nation's largest source of financing for home mortgages. Fannie Mae does not lend money directly to consumers, but instead works to ensure that mortgage funds are available and affordable, by purchasing mortgage loans from institutions that lend directly to consumers. A Fannie Mae-Seller/Servicer is a lender that Fannie Mae has approved to sell loans to it and to service loans on Fannie Mae's behalf.

Posted by Bradford Miller Law, P.C.

Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning

134 N. LaSalle, Suite 1040

Chicago, IL 60602

Offering free legal representation to homeowners seeking a short sale

Friday, February 20, 2015

Free seminars to Chicago homeowners

Did you know that the Historic Chicago Bungalow Association offers a wide variety of popular seminars and workshops designed to help owners of any Chicago home—whether you’re a home repair expert or rehab rookie—improve the beauty, sustainability and safety of your home through simple and affordable repair projects. All seminars are open to the public and free of charge. The 2015 Spring Seminars run from February through June. They cover multiple topics and are held at several Chicago locations. For a full list of the workshops visit www.chicagobungalow.org

Limited space is available and you have to RSVP to reserve a seat. You can RSVP on their website's events calendar at or by calling 312-675-0300 extension 10.

Posted by Bradford Miller Law, P.C.

Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning

134 N. LaSalle, Suite 1040

Chicago, IL 60602

Offering free legal representation to homeowners seeking a short sale

Tuesday, February 17, 2015

Sellers be prepared

Many homeowners put their homes on the market before they are truly ready to sell. Some may believe they are ready, but find they have not fully gone through the emotional process. Be sure you and your family truly want to make the move and are ready before you list.

Be prepared, once you list your home it may sell quickly. Do you have a place to go once you sell?

Make sure you fully cleaned, organized and de-cluttered your home. Have you taken your agent's advise about staging? You want to present your home to the market in the best possible light for the best possible price.

Once you are ready to sell, I recommend you contact an attorney right away, before you receive an offer. This way the attorney can begin representing you immediately, which will allow them time to review any contract BEFORE you sign it. Sometimes people wait until they accept a buyer's offer. If you do this, please note that you need to contact an attorney immediately after accepting a buyer's offer because there are important deadlines that begin to run after you accept the buyer's offer.

At www.bradfordmillerlaw you will find information about our firm along with helpful real estate information. To discuss your pending or potential real estate transaction call us at 312-238-9298 for a Free 15-minute consultation.

Bradford Miller Law, P.C. can assist you with all your real estate needs. From buying, selling, renting and even helping you with a building code violation we are here to help with all your real estate needs at a very reasonable rate. Our experienced Real Estate Attorneys have been representing real estate clients for several years now and have earned membership in the Better Business Bureau.

Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning
134 N. LaSalle, Suite 1040
Chicago, IL 60602

Offering free legal representation to homeowners seeking a short sale

Key words: Chicago short sale attorney, Chicago landlord tenant law attorney, Chicago estate planning attorney, Estate Planning Lawyer, Chicago leases, Chicago real estate attorney, Chicago real estate lawyer, Chicago real estate closings, Chicago building code violations, Short sale attorney Chicago. This is intended to be advertising. Please consult with an attorney before acting on any information given here.
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Thursday, February 12, 2015

Put yourself back on track after a foreclosure

If you have recently gone through a foreclosure, you will need to put yourself back on track if you wish to purchase another home.

The first step would be to start repairing your credit. The best way is to continue using credit. Don't make the mistake of closing credit card accounts or cutting up your credit cards and not using them. Avoiding credit all together will leave a gap in your credit history, which is almost as troubling to lenders as a bad credit history.

Lenders want to see you using credit regularly in a responsible way. It is important that you keep up with your payments and not miss a due date. You may want to set up automated payments to avoid missing a payment by accident.

Review your full credit report to check for any errors or instances of fraud. A federal law allows you to get a free yearly credit report at Annualcreditreport.com which will allow you to track your progress.

Once your credit is repaired, you will need to find a lender willing to offer you a mortgage. For many, an FHA loan will be the quickest path back to home ownership. After foreclosure, the government requires a three-year waiting period before you can qualify for another FHA-backed loan. Fannie Mae and Freddie Mac loans require a seven year period before you’ll be considered for a new loan. There are exceptions, for instance if you can prove that the foreclosure was the result of a death in the family, or an unexpected job loss, you might be able to qualify for a new loan sooner.

Posted by Bradford Miller Law, P.C.

Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning

134 N. LaSalle, Suite 1040

Chicago, IL 60602

Offering free legal representation to homeowners seeking a short sale

Thursday, February 5, 2015

What is a Good Faith Estimate?

A Good Faith Estimate is an estimate of closing costs the lender is required (under the Federal Real Estate Settlement Procedures Act) to give to the buyer within at least three days of applying for a mortgage loan. This is the lender's estimate - it must be completely accurate regarding the lender's own charges and is supposed to be reasonably close to the charges third-party providers such as title insurers/agents, attorneys, surveyors, etc., may change. You can check with those third-party providers, however, regarding how much they will charge if you have any questions or concerns prior to settlement.

At www.bradfordmillerlaw you will find information about our firm along with helpful real estate information. To discuss your pending or potential real estate transaction call us at 312-238-9298 for a Free 15-minute consultation.

Bradford Miller Law, P.C. can assist you with all your real estate needs. From buying, selling, renting and even helping you with a building code violation we are here to help with all your real estate needs at a very reasonable rate. Our experienced Real Estate Attorneys have been representing real estate clients for several years now and have earned membership in the Better Business Bureau.

Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning
134 N. LaSalle, Suite 1040
Chicago, IL 60602

Offering free legal representation to homeowners seeking a short sale

Key words: Chicago short sale attorney, Chicago landlord tenant law attorney, Chicago estate planning attorney, Estate Planning Lawyer, Chicago leases, Chicago real estate attorney, Chicago real estate lawyer, Chicago real estate closings, Chicago building code violations, Short sale attorney Chicago. This is intended to be advertising. Please consult with an attorney before acting on any information given here.

Tuesday, February 3, 2015

Sellers be ready!

When it's time to sell your home it's important to realize that your home is also an investment. With that being said, sellers need to be ready to separate the two and not make the mistake of letting emotions get in the way. If you are too sentimentally attached to your home, you may reject a good price or fail to negotiate with a serious buyer. Don't let your emotions sabotage your sale.

Bradford Miller Law, P.C. can assist you with all your real estate needs. From selling, buying, landlord issues and even helping you with a building code violation we are here to help with all your real estate needs at a very reasonable rate. Our experienced Real Estate Attorneys have been representing real estate clients for several years now and have earned membership in the Better Business Bureau.

Posted by Bradford Miller Law, P.C.

Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning

134 N. LaSalle, Suite 1040

Chicago, IL 60602

Offering free legal representation to homeowners seeking a short sale

FREE SHORT SALE HELP

Are you "under-water" in your home? Do you owe more then the property is worth? You should consider doing a short sale. Chicago short sale attorney Bradford Miller offers free legal representation to homeowners doing a short sale. The first step is to call Attorney Bradford Miller for a free 15 minute phone consultation. If we accept you as a client, our representation will be free to you and its possible you will even receive some money to help you relocate. Homeowners should know what their options are and what to expect. Call Mr. Miller today at 312-238-9298.

CHICAGO REAL ESTATE LAW BLOG

Bradford Miller Law, P.C. focuses on real estate law, landlord tenant law and estate planning. This is the chicago real estate law blog. If you are interested in reading about landlord tenant law, visit that blog at http://chicagoltlaw.blogspot.com/. If you are interested in estate planning, visit http://chicagoestateplanning.blogspot.com/. The law firm's main website is www.bradfordmillerlaw.com.

This blog will focus on real estate law in the Chicagoland area. Topics include real estate transactions ("closings"), closing costs, and real estate taxes, among other things.

Helping people in this distressed real estate market

Whether you live in Chicago, Berwyn, Orland Park, Naperville, or another suburb, Bradford Miller Law, P.C. can provide the legal representation you need. Short sales are becoming more and more prevalent, currently making up approximately 35% of the market. Sellers need to understand what a short sale is and what the consequences may be. Mr. Miller offers a free 15-minute phone consultation to any homeowner contemplating a short sale.

Bradford Miller Law, P.C. also offers representation to traditional sellers. Sellers can find a variety of information at http://www.bradfordmillerlaw.com/ under the "Sellers" section. Mr. Miller offers a free 15-minute phone consultation to any homeowner looking to sell their property.

Buyers, and especially investors, are taking advantage of the real estate market. Bradford Miller Law, P.C. offers comprehensive legal representation when making a purchase. Call for a free 15-minute phone consultation.