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Chicago can't collect real estate transfer tax from buyers of homes sold by Fannie, Freddie, judge says

Jonathan Bilyk Sep. 30, 2016, 5:53pm

The city of Chicago should not be allowed to sidestep laws barring cities from collecting taxes on real estate sold by federal mortgage lending giants Fannie Mae and Freddie Mac by simply passing on the tax bills to those buying the properties from Fannie and Freddie, a federal judge has ruled.

Class action demands Chicago refund all property transfer taxes charged to buyers of Fannie Mae foreclosures

Jonathan Bilyk Dec. 8, 2015, 6:04pm

A woman who bought a home last year in Chicago’s Ravenswood neighborhood believes the city improperly charged her taxes on her purchase of the formerly foreclosed property from Fannie Mae, and she has filed a class action to demand the city pay her back, as well as perhaps thousands of others who have paid real estate transfer taxes to the city for property they, too, purchased from either of the federal mortgage giants.