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With the abundance of distressed and low-priced properties for sale, many people are considering becoming first-time landlords. But before you embark on such a venture, it’s important to fully understand landlord and tenant rights and responsibilities. A landlord usually is responsible for keeping the unit in a livable condition, which includes making the necessary repairs along with ensuring that the property is in compliance with all state and local housing codes. The landlord sets the rental amount for the property, and being a first-time landlord, it is best to research the area and charge a few dollars lower than the …

The Home Affordable Refinance Program (HARP) was started in early 2009 for homeowners who wanted to refinance but were thwarted because of declining home values. The program was initially aimed at loans that had been originated prior to March of 2009, and allowed for a home’s value to come in at 25 percent below that mortgage amount. In March of 2012, the government release HARP 2.0, which allowed lenders to do refinance loans that were originated prior to May of 2009 and lifted the limit as to how low the value of the home could be relative to the mortgage. …

The most common type of dementia, Alzheimer’s affects approximately 4 million Americans. The disease is characterized by progressive changes in behavior and personality and can include gradual declines in mental abilities such as thinking, memory or judgment. Memory loss or forgetfulness is the best-known sign of early Alzheimer’s. This might include difficulty remembering recent events, performing familiar tasks, using words correctly, finding the way home, making decisions, or locating lost objects. A person with Alzheimer’s may frequently lose keys or other objects, forget whether an ingredient has been added to a recipe, withdraw from usual activities, or have trouble driving …

Are you always placing offers on properties only to be outbid? What do you do when you are placed in this situation, whether you are the buyer or seller? Once an endangered species, multiple offers on properties are returning to the market, and buyers have to play their cards right if they want to come out on top Homes that are priced right will always see plenty of activity, and many times sell for above the asking price. However, the sales price is not the only item to consider on the contract. Three other crucial items to bear in mind …

Lately I have been mentioning the same web site in a number of columns on diverse subjects. “What is this ‘familysearch’ thing you keep talking about?” Some people confuse this with Ancestry.com, which is advertised on TV. Familysearch is something quite different. The web site is www.familysearch.org and it is owned and operated by the Mormon Church (Church of Jesus Christ of Latter-Day Saints is the formal name). They are trying to gather as much genealogical data from around the world in order for their church members to discover their ancestors. However, they allow anyone to use their resources and …

A few years back, there was a mortgage program that was called a “No Doc” or “No income verification” program, which made it easier for non-salaried workers to qualify for home loans by not forcing them to verify their income. This program was a great for someone that had a good down payment or sizeable equity for a refinance, but didn’t show a lot of income. Unfortunately, this program was being used by W-2 employees to qualify for larger mortgages than they could afford. So they would state that they made more money than they actually did, and “qualify” for …

Illinois citizens should be up in arms about the so-called Medicaid reforms contained in the SMART bill that recently passed the state senate and house and at press time was awaiting the signature of the governor. Those changes will adversely impact many residents of the state. These changes were made to the Deficit Reduction Act (DRA) of 2011 by the Department of Healthcare and Family Services (HFS) despite the vigorous lobbying of the Joint Committee on Administrative Rules (JCAR). They amount to an assault on the financial security of many citizens of the state. Assault on Homesteads A home held …

Many times when working with a client we start out looking for condos and end up purchasing a home or vice versa. There are many differences between owning a home and a condo, and it’s important to know them before making your decision. A condo unburdens you of the direct responsibility of intensive maintenance. Many things like lawn care, snow removal, garbage removal and exterior maintenance are usually taken care of by an association. On the other hand, you pay for these conveniences in monthly association dues. There are other convenience to owning a condo aside from maintenance issues. Some …

I’m in the middle of a new project, and when that happens, I get to explain it to you at this website. Hopefully some of you will jump on the bandwagon. The website www.familysearch.org is loaded with new content all the time, and all of it is free. For example, I have a lot of people in my files who were born in my ancestral villages in Italy and died in Chicago, and I would like to acquire death certificates for them. But I don’t want to pay $15 for each one. Have no fear! Depending on what year you’re …

Many people don’t realize that their credit dictates what they can buy and what they will ultimately pay for it. A low credit score will almost always lead to an increase in what you pay to obtain credit. Your score will dictate what type of financing you get and if you will get financing at all. The lower the score, the higher the closing cost or interest rate. Credit scores are determined by your payment history, the amount of available credit that you have, the amount of ongoing balances that you have relative to you limit, the types of accounts …