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This office serves clients in real estate transactions of all types. I also assist clients with estate planning for everyone, including the GLBT community, and represent Illinois condominium associations as needed. I help real estate investors who are renting their properties deal with difficult renter issues, and I advocate for renters dealing with difficult landlords.

 
I work with clients in Chicago and all over the Chicagoland area, including Wilmette, Skokie, Morton Grove, Plainfield, Wheaton, Glencoe, Lake Forest, Naperville, Oak Park, Winnetka, Des Plaines, Orland Park, Berwyn, Carol Stream, Arlington Heights, Crystal Lake, Barrington, Palatine, Park Ridge, Gurnee, South Holland, Park Forest and more.

My goal is to give each and every client personal, friendly and competent service at a reasonable price. I also strive to use technology in the best way possible to keep my clients informed.
 
My legal background includes working for a major Chicago developer and working for a boutique firm in their real estate division. I am also a landlord of a three flat building in Rogers Park and I am managing broker of a small real estate brokerage.
 

I work with all different types of clients, including developers, first-time buyers, buyers of second (or third!) homes, all sellers and the LGBTQ community.

My real estate blog is below. Please make sure to check back on a regular basis to check out what's new. I update my blog about once a week and welcome any questions that you may have.
 
Ask me too about help with personal injury, divorce, and any other legal issues! 

301 Greenview Drive, Crystal Lake, IL 60014

www.chicagolandrealestatelaw.com
lawgoddess1@gmail.com
773.818.9054 office/cell
866.381.4238 efax

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Check out my interview, Expert Advice on Buying a Foreclosed Home on Illinois Homes, one of the top sites for Illinois homes for sale, including Wheaton, IL real estate. Illinois Homes also services Michigan homes for sale and Pennsylvania homes for sale.

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Tuesday, August 26, 2014

Chicago Home Prices Slowly Rise

From today's Chicago Tribune:

Home prices gains slowed in the Chicago area and in most of the nation in June, and for the first time since February 2008, 20 cities showed lower annual rate of improvement than the previous month, according to a widely watched housing market barometer.

In the Chicago area, home prices rose 1.4 percent in June, compared with a 1.5 percent uptick in May, according to the S&P/Case-Shiller home price index. Year-over-year, that made for a 6.6 percent increase.While home prices nationally are back at their pre-housing market bust levels of autumn 2004, in the Chicago area they are at their spring 2003 levels. Still, June represented the fourth consecutive month that local home prices have topped their previous month.Nationally, June home prices in the 20 cities included in the index were up 1 percent in June, from May, equaling a 8.1 percent increase from June 2013.

11:14 am cdt 

Tuesday, August 12, 2014

New Formula Could Change Credit Scores

The company responsible for one of the most widely used measures of credit health is making changes to its current model that could boost credit scores nationwide.

In an announcement on Thursday, analytics and decision management firm FICO said its new credit model, FICO Score 9, "introduces a more nuanced way to assess consumer collection information," resulting in greater precision for lenders measuring a borrower's credit stability. The model will be available to lenders through the country's various reporting agencies starting in the fall.

"FICO Score 9 uses a more refined treatment of consumers with a limited credit history and those with accounts at collection agencies, so that lenders can grow their credit and loan portfolios more confidently," said Jim Wehmann, EVP for Scores at FICO.

The key difference in the new model is that strikes from medical collections will have a lower impact, reflecting the relatively low level of credit risk they represent. From just that change, the company expects the median FICO score will increase by 25 points among consumers whose only credit dents come from unpaid medical debts.

FICO isn't alone in its push to reassess how medical debts are reflected on a borrower's credit profile. In May, the Consumer Financial Protection Bureau (CFPB) released the results of a study finding that credit scores may underestimate creditworthiness by as much as 10 points for consumers owing on medical costs and by up to 22 points for consumers who have repaid their debt.

Often, consumers aren't even aware their debt has been sent to collections, CFPB said.

Another change in the FICO Score 9 model is that it will also discount any overdue payments that have already been made, leaving only unpaid collections as a mark.

While the changes may have a significant impact on approval rates for credit cards and auto loans, the effects will be more subtle for borrowers and lenders in the mortgage space, says Greg McBride, chief financial analyst for personal finance website Bankrate.com.

"These changes are going to be a positive for consumers, but it's not something that moves the goalposts," McBride said in a phone call. "These changes aren't going to take a consumer with bad credit and suddenly make them appear as if they have good credit."

Rather, for consumers whose credit scores sit on the threshold between poor, adequate, or good, the expected boost could make a difference in terms of required down payments or interest rates.

The Score 9 model also promises to help lenders make decisions on consumers with little to no credit history—though McBride doesn't expect to see an immediate impact in mortgage approvals for credit-lacking millennials.

However, if those young consumers have an easier time securing lines on smaller loans, however, that could balloon out into the mortgage space in the future.

"You [have to] knock over the dominoes," McBride said.

11:16 am cdt 


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