Archive for May, 2014

“Nothing to Fear But Fear Itself”

 

Dear  Cook County Homeowners

Mark Your calendar for June 2 2014  7 pm -8 pm.

If you have received a Notice of Default from your lender then in the privacy of your own home you must attend this webinar.

Just click on the template: sa_template and you will be directed to the webinar.

There is Room for 100 people and I hope to help 1 out of 100. Will you be the one?

RSVP is not required but if you were not able to attend then email me or call me as I would be glad to send you a copy of the webinar.

 

 

 

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Written by Jack Lewitz | Discussion: No Comments »

News About IL Real Estate Specialists

As the Broker Owner of IL Real Estate Specialists I am pleased to announce the recent affiliation of the National Mortgage Forgiveness Plan Organization to help homeowners in distress in Evanston and Skokie. IL Real Estate Specialist has dedicated itself to help as many homeowners who are experiencing all sorts of distress and hardships and have nowhere to turn for advise. National Mortgage Forgiveness Plan and IL Real Estate Specialists as a Real Estate Professional Affiliate are here to help homeowners and listen to their unique problems and come up with solutions.

In the month of June  a concerted effort will be made to reach out to homeowners and offer them assistance and Real Solutions to their problems. To learn more about National Mortgage Forgiveness Plan or a way to get in contact with Il Real Estate Specialists today just click on the link provided: http://helpevanston.mortgageforgivenessplan.com//index.php

Written by Jack Lewitz | Discussion: No Comments »

Using Quit Claim Deeds in Illinois

A quitclaim deed allows property owners to transfer whatever interest they may have in a specific piece of real estate. As opposed to a warranty deed, it does not offer any guarantees that the owner has good title or even ownership at all; it simply conveys whatever interest exists at the time of the deed’s signing. Once buyers accept it, they are left with little to no recourse against the former owner. This lack of protection generally makes a quitclaim deed unsuitable for purchasing real estate from an unknown party.

 

Yet, a quitclaim deed is fully sufficient to convey property in other circumstances, such as transfers between family members or spouses. For example, in case of divorce, a spouse can quit claim to his or her interest in the property; alternately, the deed can be used to add a spouse to the title. Other scenarios that lend themselves to using a quitclaim deed are transfers to a corporation or into a trust as well as uncertainties regarding title.

 

When there is a cloud on the title, a question whether parties unnamed in the deed have interest in the property, the title insurance company may require a quitclaim deed in order to remove the potential interest holder and to restore marketability of the owner’s title. Lenders might require the same from a spouse who will not be on the title.

 

 

A basic form for the quitclaim deed is provided in the Illinois statutes (765 ILCS 5/10). Record it with the recorder of deeds office in the county where the property is located. This provides official notice of the land transfer and makes the instrument part of the public record; if unrecorded, it may be void to subsequent purchasers for valuable consideration (765 ILCS 5/31).

 

Further information about quitclaim deeds and other real estate documents is available at Deeds.com. When in doubt about what type of deed to use or to accept, seek legal help from an attorney.

Written by Jack Lewitz | Discussion: No Comments »

Those Who Need to Sell VS Those Who Want To Sell

There are two categories of people who are selling homes in today’s market:

Those Who Need To Sell :  Those who need to sell are selling because of necessity. They are typically distressed sales. They are families who have had a hardship and are forced to sell. Typical hardships are due to health, work, marital, family related issues forcing someone to make the economic decision to sell in order to get out of debt.

Those Who Want To Sell: Those who want to sell are doing so because they choose to make a life style change. Typical life style changes include getting married, divorced, and retirement. Some choices are the result of needing more space, less space, moving to different location, city to suburbs, or out of state. The central factor here though is these people can choose to sell and move because they have enough equity in their homes to make this choice.

Written by Jack Lewitz | Discussion: No Comments »

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