News about Stahl Cowen Crowley Addis Llc

Stahl Cowen Crowley Addis Llc

55 W MONROE ST, Chicago, IL 60603

Chicago OK to tack on thousands in taxes to the sale of Fannie, Freddie foreclosures: Appeals court

By Jonathan Bilyk | Tuesday, Oct 31, 2017 @ 4:53pm

While federal law bars the city of Chicago and other local governments from slapping taxes on homes acquired by federal home mortgage lending giants Fannie Mae and Freddie Mac, the law does nothing to stop such cities from merely passing on those tax bills to the people who later buy the property from Fannie or Freddie, a federal appeals panel says.
Chicago can't collect real estate transfer tax from buyers of homes sold by Fannie, Freddie, judge says

By Jonathan Bilyk | Friday, 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.