Illinois mortgage refinancing

By | Oct 17, 2014

Real estate prices in Illinois present an interesting challenge to analysts because the state has two very distinct markets: Chicago and the surrounding suburbs, and the rest of the state. This dichotomy affects the general level of prices as well as growth rates in the most popular destinations. Ultimately, the mortgage and foreclosure options and procedures apply to both areas and understanding them is important to navigating the Illinois real estate market.

Cook County, home of downtown Chicago, has been deeply impacted. Economic recession has increased the demand for public services at the same time as revenues have fallen. To offset this disparity to some extent, sales taxes have been raised several times – finally cresting the 10% level. While the city has seen increased income as a result, there has been a definite exodus away from downtown. Consumers faced with the need to tighten their own budgets are more willing to travel outside the city (and county) in search of lower sales tax. In response, businesses have relocated outside of the city as well. The combined impact has put an additional strain of the already struggling local government. 8 Myths That Keep People From Using a USDA Rural Housing Loan to Buy a Home

When a mortgage lender or real estate agent suggests the USDA Rural Home loan to a new client, the offer is typically met with an eye roll and general avoidance. Here are some of the reasons why people avoid the USDA Rural Housing program and why they shouldn’t.

illinois mortgage refinancing

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