January 2013 Archives

Illinois debt relief: It may be difficult to refinance some loans

There are many Illinois residents that are still struggling with their finances. In an attempt to achieve some debt relief, some may be considering refinancing certain loans in order to lower their payments and save some money. However, wanting to refinance and being able to refinance may be two different things.

Illinois bankruptcy: Consumers are using credit cards again

There may be some people in Illinois that would be surprised to know that consumers are using credit cards again. After watching people struggle with credit card debt, lose their homes and file bankruptcy, consumers may want to think twice before incurring more debt. Many people are saying that by the end of this new year, there will be another rise in people that are unable to pay their credit card bills.

New year brings Illinois a fresh shot at financial security

For many people in Illinois, 2012 was a touchy year financially. Many people lost their homes and had to file bankruptcy. For those people and many others, 2013 brings a fresh start at financial security. There are steps that people can take to improve their financial position and it's never too late to start.

Illinois ranks third in the nation for foreclosure numbers

Illinois has the third highest rate of foreclosures in the nation. In the month of November approximately 13,520 property owners received a foreclosure notice from their lender. For 11 straight months the number of foreclosures in Illinois has risen from the same month just one year ago.

New 'Fiscal Cliff' Law Has Positive Impact on Short Sales

Toward the end of 2012, it looked like the Mortgage Debt Forgiveness Act could die, and the number of short sales went up. Distressed homeowners sought to avoid the tax penalty on forgiven mortgage debt after a short sale by taking advantage of the law in the third and fourth quarters of 2012.

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