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

Jonathan Bilyk 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

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.

Fannie Mae: Chicago can't collect transfer taxes on foreclosed properties sold by federal agencies

Jonathan Bilyk Oct. 15, 2015, 11:48pm

Fannie Mae, the federally-controlled largest provider of funding for mortgage loans in the country, has sued the city of Chicago in federal court to ask a judge to halt the city’s efforts to collect real estate transfer taxes on the residential properties the agency sells. On Oct. 15, the Federal National Mortgage Association, commonly known as Fannie Mae, and the Federal Housing Finance Agency, the federal agency which oversees Fannie, filed its complaint in federal court in Chicago against