Welcome to chicagoshortsalelaw.com
This website is intended to provide general information about the short sale process from the attorney perspective regarding short sales in the Chicagoland region.
This website is produced by:
Reda | Ciprian | Magnone, LLC
Attorneys at Law
8501 W. Higgins Suite 440
Chicago, IL 60631773-399-1122
fax 773-399-1144
Author Archives: Richard Magnone
Chicago NPR takes on certain short sales
Reporter Ashley Gross of Chicago NPR’s WBEZ radio did a recent story on some Chicagoland real estate agents who are making a killing on short sales. The article, which can be found here, explains that these agents, acting either as … Continue reading
Posted in Fraud, Short Sale, Short Sale Fraud
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I hear things…
I hear that there are both investigative journalists and certain law enforcement agencies investigating some of the more questionable short sale practices in Chicagoland.
Cook County Commissioner Bridget Gainer foreclosure survey
One of the Cook County Commissioners, Bridget Gainer, is doing a survey of homeowners in foreclosure to see if there are ways Cook County can help its residents. I encourage all Cook County homeowners who meet her criteria to fill … Continue reading
Posted in Foreclosure
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Bear with us!
The building where Reda | Ciprian | Magnone, LLC resides was a victim of this weekends storms. The building will be closed for two or three weeks while they install a whole new electrical system. During that time, our office … Continue reading
Posted in Uncategorized
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Lenders starting to backlash against Buyer contributions
It appears that more short sale lenders looking deeper into Buyer contributions on the HUD. I have heard mention of lenders prohibiting certain buyer contributions, especially those being paid to a second lender.
Posted in Short Sale
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Property owner gets Bank of America to pay up
A property owner who was wrongfully foreclosed upon by Bank of America scored a victory recently when they made an attempt to seize Bank of America Assets. Apparently, the homeowners never had a loan with Bank of America – never … Continue reading
Odd side effect of slowdown in foreclosures
I have had clients reporting to me that there is a scarcity of housing inventory and that they are having trouble finding a house to buy. Go figure.
Posted in Uncategorized
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What about all that stuff?
Buyers of REO properties (REO means “real estate owned” and usually the term means that the seller is a financial institution or government agency that took title to the property via a foreclosure) are usually required to accept special contract … Continue reading
I hear there’s a class action against Fisher & Shapiro, LLC
It is my understanding that a class action complaint has been filed against Fisher & Shapiro, LLC in the case Hardwick v. Fisher & Shapiro, LLC (case 1:11 CV 02539) related to alleged violations of the Fair Debt Collection Practices … Continue reading
Posted in Foreclosure
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Bank of America Shortsale Seminar
Yesterday, I attended a seminar at the State of Illinois building coordinated by Chicago Title but put on by Bank of America. The seminar is one meant to educate real estate agents attorneys about how to navigate the Bank of … Continue reading