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November 2015 Archives

Fixed vs. adjustable rate mortgages in Illinois

In 2013, the average person in Illinois and across the country spent $17,148 annually on housing expenses. According to the U.S. Bureau of Labor Statistics, $10,080 of that was for shelter alone. That is a considerable amount of money, which is why it is understandable that people in the market for a new home are looking to get the best possible deal. One way to do that is to compare options for the mortgage.

Can bankruptcy stop wage garnishment?

It can be frustrating to watch a portion of your income get taken away through wage garnishment. In Illinois, you do have the option of filing for bankruptcy, which can stop the practice. Keep in mind that this only applies to debts that qualify, which does not include items such as child support or alimony payments.

What you should know about short sales in Illinois

You do have options when facing a foreclosure Illinois, including putting your home up for a short sale. At Ledford, Wu & Borges, LLC, we understand the pros and cons of taking this step and help advise clients of the option that is best for their situation.

Tips for rebuilding credit after a Chapter 13 bankruptcy

It’s no secret that a bankruptcy filing will remain on an Illinois consumer’s credit report for the better part of a decade. As the Federal Trade Commission points out, a Chapter 13 bankruptcy will typically be on a credit report for seven years though could potentially be there for up to 10 years, causing the score to be significantly lower.

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