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Feds Take Steps Against Underwater Mortgages

Over 30,000 distressed homeowners may be eligible for a Federal Housing Finance Agency-sponsored principal reduction to help prevent foreclosure. The plan is available to owner-occupants who are at least 90 days delinquent as of March 1, 2016, have an unpaid principal balance of under $250,000, and have a loan-to-value ratio above 115 percent. Additionally, their loans must be owned by, or guaranteed by, Freddie Mac or Fannie Mae. FHFA Director Mel Watt called the plan a “win-win” for both borrowers and lenders. “It is also consistent wit... Read more

The Need For A Family Lawyer

In the last several years, marriage and family issues have been among the top stories of evening newscasts, and a shift is really occurring. According to a recent survey, less than half of American children live in a “traditional” family that consists of a married father and mother, who have never been married to anyone else, and their pure biological children. Illinois law is struggling to keep pace with these changes. In the last two years, the legislature has radically re-worked both the spousal support and child custody provisions in th... Read more

The Fitzgerald Law Firm P.C. Blog

Stay tuned to legal information on matters related to Family law, Business law, Real Estate law, Estate Planning law & More! ... Read more

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