See Our New First Time Homebuyer Guide & Brochure

Every Year I update our First Time Home Buyer Guide and Brochure.  Way back in 2003; I made the first brochure for a series of home buyer workshops that I spoke at Latin United Community Housing.  Over the years, about 3000 of these brochures have been distributed while I give my 20 minute talk.  If you would like to download this brochure, simply click on the link:  First Time Homebuyer Guide

For more information about where I will be speaking next, please check out our facebook page, twitter presence or call our office at 877-GO-GO-NLO

NACBA Board of Directors Election Debate – Hear David Nelson talk about his candidacy

Today, an unofficial debate was held by three of the four candidates running for seat #4 in the National Association of Consumer Bankruptcy Attorneys Board of Directors.  Hear David Nelson talk about his candidacy and his passion for consumer advocacy and bankruptcy rights.  Covered in this meeting are the topics of outreach, qualifications, the future and legislative trends.  HAMP, Principal DownPayment, Private Student Loans and Marketing are discussed.

To listen to the recorded debate, goto:  NACBA Debate

Ill. House OKs ban on password snooping by bosses

Ill. House OKs ban on password snooping by bosses.

Folks:

This is a highly disturbing issue that I have been following.  Just recently I learned that several attorneys in our bar association are asking their employees for their facebook passwords and other social media password.  Bottom line – the Illinois House approved a restriction on this and now it’s up to the senate.

I recommend that you call your state senator and encourage them to sign this restriction into law.

Bottom line – if your employee is on facebook during the work day for personal use, then maybe it’s time to get a new employee.  If an employee is having a discussion about working conditions at their place of employment – it’s protected.    This is an evolving area.

Be Careful and Vigilant

 

Spring is Here

Flowers Spring 2012

These pictures taken on March 11th prove that an early Spring has arrived.

Flowers Spring 2012

Flowers Spring 2012

FHA Mortgage Fees Could Increase Soon – chicagotribune.com

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FHA mortgage fees could increase soon – chicagotribune.com.

I read this article today and think it provides a very good summary of some changes coming to FHA Loan pricing.  What it does not discuss well are the “real world” limits on credits at closing.  In Illinois, the seller “by law” provides all of the title insurance cost on the seller’s side.  Plus, in Illinois, our tax system forces nearly a year of taxes to be credited at closing so that they can be paid the next year.  When you consider all of the forced credits in Illinois, the bottom line is that you may not even get a 3% credit for closing costs approved, especially if your purchase is less than $100,000.

HERE IS A GOOD RULE OF THUMB:  Never purchase a house for more money that you really want to offer even if you are getting a 3% credit for closing costs.  Instead, haggle for a very aggressive price that is good for you as a buyer then demand the 3% credit for buyer’s closing costs as simply an incentive to get you to sign on the offer.  Never count on the credit for closing costs as the seller may not be allowed to give the credit to you.  Also be aware that seller payments made to you outside of the closing escrow process are forbidden, illegal and will get you into serious trouble with the federal government.

 

Social Media & Employee Misconduct

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Today, I attended a Continuing Legal Education Program at the Chicago Bar Association presented by the Young Lawyer’s Section.  The topic of this course was the issue of employee misconduct as it relates to Social Media.  Here is the one takeaway from the course:  Employees who would have once had a discussion about employer treatment of its employees amongst themselves can now do in public via Facebook.  Even if the comments are disparaging about the employer, such as “my supervisor is an asshole”, the speech is protected and so are the employees jobs.

Bottom line, union employees getting ready to strike for wages, file a complaint against supervisor or just to “bitch about work” can do so now in public with no repercussions.

Now obviously there are alot of exceptions to this, but bottom line, as your company size grows, so does the need to have a good employee manual covering social media disclosures by employees.

For more information about setting up a top flight employee handbook or updating yourself, consider calling these two fine attorneys who put on this excellent CBA CLE Presentation today.

Adam Wit, Attorney, Littler Law Firm of Chicago

Kathryn Siegel, Attorney, Littler Law Firm of Chicago

 

Why Our Libraries Must Not be Allowed to Fail

When you walk in Chicago’s Main Public Library now called the Harold Washington Library Center you are reminded of the amazing roots of the Chicago Library system as you pass two hand carved mahogany desks from the Old Main Library now the Chicago Cultural Center.  As I walked into the Library today, I was reminded of the severe changes that are occurring in how information is delivered to us today.  Most of the 3rd floor research desks are empty.  Not just one, more like ten just on the 3rd floor.   As you progress up the floors towards, 4,5,6 and 7 you seek more empty research desks and empty book cases that once held fast-changing information such as City Telephone Directories and other topical information.

As you head up the escalator and seek the fine birch paneling, exquisite architecture and state of the art lighting, you realize that when the library was built in 1988 it was viewed as one of the most important buildings in Chicago and one that would get increasingly heavy use.  To give you an idea of how valuable public libraries were in just the last 100 years, you have to view the set up of the Old Library.  There was no “casual browsing” or picking out your own book.  In those days, you perused a card catalog at length’s end seeking to find the call number of the book or books you needed either for your research or simply to pick up the latest novel from your favorite author.  You then took your request to a table where clerks were dispatched into the closed stacks of the library to bring back your request.  Few people actually had the ability to scan the racks much less have unrestricted access as we have today in our modern library.

So what is the modern library, it is a wasteland soon to be abandoned with the emergence of the World Wide Web and Digitization of Images and Easy Scanning of Text?  That is a good question.  It is my belief that we are in a very tricky and difficult period of transition.  I believe that Google will soon become a utility that is regulated by the state.  I believe that most laws that govern the scanning of “scholarly” work will eventually get ironed out in the next 30 years.  Until then, I believe that we will have a situation similar to most law libraries in the early 1990′s.  In those days, the majority of your legal research was done in the stacks using digests, annotated State and Federal Codes and Regional Reporter systems.  These were organized using a system of directories.  Until the late 1990′s this was the only way to do legal research efficiently as you could not have ten books up on a computer screen to effectively write briefs and other documents.  in those days, Lexis, Westlaw a few others were making “text only” legal research databases available.  Although you could do boolean searches easily, the systems did not allow for good quality comprehensive reading research due to the slowness of the systems, poor reading quality, slow printing and lack of multiple viewing screens. In the end most attorney’s and students of the day simply did their research as best as they could in the manual volumes and then “sprinkled” updates with the most current slip opinions or shephardized results which were the only areas where these online services were truly unique and helpful.

Today, we have the same situation but in a much broader context of information overall.  Here are the similarities:  Most good comprehensive materials prior to 2005 are found only through manual research in libraries.  Google Scholar, Some Photo Search and other resources might have a smattering of information prior to 2005 but it isn’t comprehensive because most materials prior to this date were primarily via written materials – especially novels.  Lending practices at libraries do not always cover digital novels and other electronic media.  Therefore, there is even a media desert occurring where folks who do not have access to digital products can no longer get the hard copy versions at their libraries.    In short, today you still have to do most good scholarly research in a library on most topics and then update the topical or more current issues in the research with digital research on the computer.

So what should be done.  Library funding should be increased, not reduced.   Saturday and Sunday hours should continue to be available.  Communities should adopt the “forward thinking ” digital media policies that the Chicago Library has adopted allowed for the 3 week checkout of digital licenses.  Going forward we should prepare ourselves for an absolutely huge and unthinkable fight with powerful media empires such as Google and Publishers who will do everything in their power to eliminate public libraries and concept of public libraries in digital media.  We will have to fight for a State Solution that mandates regulation of Google which will eventually become a monopoly and fight for legislation that ensures the future of “borrowing” digital media.  Another nasty fight around the corner is the ability to keep a “personal copy” of media purchased or available freely or over the air.  You can keep a video tape copy of any copyrighted media.  You can keep a cassette tape copy of copyrighted media for your own personal use.  However, you cannot own a personal digital copy in portable format for your own use.  Just try to copy the TV show on your DVR.  Won’t work anymore.  Once again, the State needs to step in and take action.

I don’t think will see much activity in the next five years as things will appear somewhat competitive in the marketplace, but as things mature and more people become aware of the “Library Issue”, we will begin to see protects and public action to ensure that everyone has access to information, not just printed, but digitized as well and that the means to use and view it will be available at public libraries.

As a heavy reader of novels, most of which come from the Chicago Public Library, I am a strong supporter of the foregoing and welcome your comments.

Pulaski Day is Not a Federal Holiday

For anyone who lives in Chicago, Casimir Pulaski day is a special holiday for a number of reasons:

  1. It is NOT a Federal Holiday.  Therefore, if you are doing anything in the Federal realm of things – such as going to Bankruptcy Court, it’s a good idea to check the docket and show up for your court appearance.
  2. All Chicago Public Schools are closed.  In fact, a whole lot of Illinois Schools are closed today…….however, that does not include the University of Illinois System.  If you are not in grade school – forget it….. no Pulaski day vacation for you.
  3. Chicago Public Libraries are closed.  First of all – when are they open? – no longer on Sundays and now closed on Mondays.  Bottom line, on Pulaski day, they simply replace the “CLOSED” sign with “Continuing to be Closed and also because of Pulaski Day just in case we were not supposed to be closed”.
  4. The Daley Center and Cook County Courts are closed….bottom line, if you didn’t pay your credit card bill about 4 months ago and you are going to a CITATION hearing that should have been scheduled for Pulaski day….you have one more day to pay your bill.
  5. All Chicago Municipal Taxes includes sales and transfer taxes along with all Cook County Taxes will not be observing Pulaski day.  Yes these taxes will need to be paid even though you purchased your goods on Pulaski day.  No Tax Holiday.
  6. Showing up for court in a winter jacket and worn out khaki’s is better than not showing up at all, but you do feel bad for any attorneys caught in the Pulaski Day Holiday confusion.
  7. Private Grade Schools such as St. Lukes Academy are closed for Pulaski day – you do not need to be a public school to enjoy Pulaski Day.
  8. The State of Wisconsin also recognizes Pulaski Day.  Apparently Pulaski was a major figure in the development of Illinois and Wisconsin as relates to his war hero activities in the Revolutionary War.
  9. US Mail will be delivered today because Pulaski Day is no a Federal Holiday.  The City of Chicago and Cook County won’t be able to enjoy this mail service because Pulaski Day is a Holiday for them.
  10. There isn’t much more to say about Pulaski day except to say that most holidays after January 1st and before Memorial Day are difficult to keep track of, understand and most of all to make sense of them.

 

Should I hire an Attorney to Represent me in a Refinance?

Yes and No.

Yes, it is always good to have attorney counseling you on the meaning of any legal document you are signing.  No, it is not always necessary to have an attorney to sign standardized bank documents in a refinance unless you want to fully understand the refinance and make sure that you are getting what you bargained for.

Bottom line – Having an attorney at a refinance closing is a really great way to make sure that the interest rate your thought you were getting is right, that it is either fixed or is adjustable in the way you understood it.  It is also important to understand the rather large fees charged (and buried) in a refinance.  On average, a refinance costs $5000 in bank fees.  Bottom line – $250 for an hour appearance fee is a drop in the bucket compared to these fees and will help you feel comfortable with what you are signing.

Hiring the attorney, the problem is how to hire and attorney who can make these sorts of appearances profitable and desirable to do and also be qualified.  Usually an attorney belonging the Illinois Real Estate Lawyers Association (IRELA) www.irela.org will be competent in Illinois to represent you and usually has flat rates that are reasonable.

If you are hiring an attorney generically, try these tried and true questions and technics:

1.  Find three attorneys that serve the geographical area you need service in
2.  Confirm that the attorneys speak your language
3.  Call each attorney and ask three questions:

    • How long have you been in practice in Illinois
    • How many residential real estate closings have you done on average over the last five years
    • What is your flat rate for representation at a refinance including any trip charge

Based on your discussed with the attorney, you should be looking for the following answers:

  1. I have practiced in Illinois for over 5 years
  2. I do at least 10 residential real estate closings per year and it is one the core concentration areas of my practice.
  3. I charge a flat rate fee of $250 per refinance for up to 1 hour of representation.  Trip charge is maximum of $100.  {This illustrates that the attorney understands how to be profitable and thereby of good service both in the City and Suburbs}  Attorneys who charge too little and are unprofitable are not motivated to provide good and competent service and should be avoided.  Value is the golden rule in purchasing legal services whereas price is simply irrelevant.

For more information about representation in any real estate matter, call David Nelson at 877-464-6656 or email Dave at:  info@nelsonlawoffice.com

For more information about NLO Nelson Law Office, please go to:  http://nelsonlawoffice.com/practice-areas/ & http://nelsonlawoffice.com/attorney-bio/.

To read reviews of NLO Nelson Law Office, please visit http://www.yelp.com/biz/nlo-nelson-law-office-chicago-2.

Celebrity Bankruptcy – Royal Crown Cola (Bottling of Chicago) has filed Bankruptcy

Read the fine print -  you can still buy Royal Crown Cola whose recipe is owned by Dr. Pepper Snapple Group and Distributed Locally by itself and not through a bottler.  This bottler is a former bottler and distributor of Royal Crown Cola and hasn’t bottled and sold Royal Crown for several years.  The good news is:  You can still get Royal Crown Cola – a personal favorite.

 

As Reported by the Chicago Tribune, January 23, 2012;

Royal Crown Bottling Co. of Chicago Inc. filed for Chapter 7 bankruptcy last Friday and said it plans to dissolve the business.

Its 20 biggest unsecured creditors include the Pension Benefit Guaranty Corp., which has a disputed claim of nearly $4.5 million for retirement plans for the company’s employees. The PBGC is a federal agency that protects pension benefits in private-sector defined benefit plans, which typically pay a set monthly amount at retirement.

Another unsecured creditor is the Soft Drink Industry Local Union No. 710 Pension Fund, which has a disputed claim of nearly $3.7 million, bankruptcy records show.

Royal Crown has total liabilities of $8.2 million and total assets of $28,635.

As of 2001, it had been the nation’s largest independent Royal Crown bottler.

Seyfarth Shaw LLP lawyer Jason DeJonker, who is representing Bolingbrook-based Royal Crown Bottling Co. of Chicago, declined to comment on the bankruptcy. According to bankruptcy documents, 43 percent of the company is owned by Fred Adamany of Rockford, and 46 percent by the estate of Dan Weil and Weil trusts.

Royal Crown is a brand of Dr Pepper Snapple Group. A spokesman for the beverage chain said that it has been several years since Royal Crown Bottling of Chicago carried its brands. Dr Pepper Snapple handles its own sale and distribution of Royal Crown Cola in the Chicago area from a Northlake bottling facility, the Dr Pepper Snapple spokesman said.