708-598-5999

There is a lot to think about when you are shopping for a new home.  Whether it is a dream home in the suburbs or a condominium in the middle of Chicago, you have many decisions to make.  One decision is the type of kitchen that you want.  Things to consider include how much counter space you need and what type of material do you want to use for countertops.  Another element of a great kitchen is the cabinet and pantry storage as well as the appliances and the overall layout and design. For … [Read more...]

When you buy a home, a 30-year mortgage sounds like forever.  However, if you make a plan to pay your mortgage off faster you can save money by cutting the interest you pay over the life of the loan.  Committing certain funds for the express purpose of paying down your mortgage will help you reach your goal faster.  For example, use your tax refunds each year to pay down the principal.  Instead of thinking of tax refunds as “free money” think of them as a way of getting out from under your … [Read more...]

The U.S. Bankruptcy Code requires that all debtors complete a mandatory bankruptcy credit counseling course within 180 days prior to filing for bankruptcy protection.  Counseling agencies must be approved by the U. S. Trustee’s Office for their services to be accepted by the Bankruptcy Court.  After a bankruptcy case has been filed, a debtor is required to attend a mandatory debtor education course designed to educate the debtor on issues such as budgets, savings, credit cards, etc.  Debtors who … [Read more...]

A secured debt is a debt that you owe that is secured by collateral such as a car loan, mortgage or boat loan.  The debt can be tied to a specific item that can be seized or repossessed if you do not pay the debt.  An unsecured debt is not linked to an asset and they include credit cards and medical bills.  Both debts are included in bankruptcy; however, the debts are handled differently depending on the chapter of bankruptcy filed and if you want to retain the asset. For more information … [Read more...]

In today’s world, if you want get ahead, you must start early.  Twenty-somethings are facing student loan debt, business start-up costs and very little emergency savings as they try to enter the business world.  Then they must worry about long-term goals and retirement while they try to balance their present financial situation. Many are tempted by credit cards as a way to fund expensive lifestyles.  Good financial advice is the key to starting down the road to financial success. Read, “The … [Read more...]

What happens if you move into a great neighborhood and love the place but then a neighbor allows his home to become an eyesore? You can try asking your neighbor to correct the problem but if that does not work, contact your homeowner’s association.  Some HOAs will take action to correct the problem without further legal battles.  If all else fails, report any code violations to the local authorities or contact an attorney to check into local ordinances about owners not maintaining their … [Read more...]

Now that the government shutdown is over, you have more time to make tax moves that can help your finances - - and you will need it.  With the upcoming tax code changes taking effect, end-of-the-year planning is essential if you want to lessen your tax burden on April 15.  Things you do now such as matching gains and losses on investments, managing your tax bracket and reviewing dividends to lower the tax on them can have a huge impact on your net taxes next year. For more tips about how to … [Read more...]

Whatever the reason may be, some couples are deciding to downsize their home.  Even with the slow real estate market and tough economy, it is still possible to downsize.  Begin by deciding why you want to downsize and then create a budget that is workable with your current, and future, income.  You can also begin to downsize within your home by getting rid of unwanted or unneeded items to see how much room you actually will need when you decide to make the move. For more tips on how you can … [Read more...]

Even though the housing market is picking up, sellers should still be on their toes when it comes to potential buyers.  Sellers need to make sure that they try to please potential buyers but they should make an even bigger effort not to drive them away.  For example, one of the biggest turnoffs for a buyer is dirt and grime.  A buyer cannot see beyond a dirty, messy house so clean, clean and then clean some more.  Wallpaper is another turnoff - - it is personalized and a pain to remove. For … [Read more...]

If you just got married or you are planning a wedding, taxes are probably the last thing on your mind.  However, you may need to spend a little time considering how your personal taxes will be impacted now that you tied the knot.  For example, no matter when you were married during the year, you are considered married for the entire tax year.  You are not required to file a joint tax return; however, you cannot file a “single” return when you are married (and there may be certain tax advantages … [Read more...]