More than 400,000 Illinois homeowners may owe taxes on home sale profits. Outdated exemptions are turning modest equity into ...

A federal judge has granted class-action status to a lawsuit alleging Cook County strips homeowners of equity when auctioning ...

Rep. Marjorie Taylor Greene just introduced a bill to eliminate the home equity tax. Here's what it could mean for millions ...

Millions of American homeowners are facing a hidden tax burden they didn't anticipate due to an outdated federal rule.

The U.S. Supreme Court ruled unconstitutional a decades-old practice of taking every cent of people’s home equity over unpaid property taxes. Experts say Illinois lags behind other states with a ...

Home equity rates seem to be on summer vacation. The average rate on a $30,000 home equity line of credit (HELOC) remained at ...

Illinois' property tax sale system, which strips homeowners of surplus equity, ... Home equity theft via property tax liens is common in Illinois but has been reformed in 11 other states.

Thus, Napier stands to forfeit about $118,500 in home equity if Pappas turns over the deed for the house on Maple Street to the tax buyer — who has since paid the 2022 and 2023 taxes on the ...

Illinois ranks last or near the bottom among states in studies on racial equality. At the same time, study after study shows Illinois ranked among the highest in the nation in tax burden, with a ta… ...

Illinois’ flat tax shifts responsibility for paying $27 billion more in income taxes from the top 3% of earners to families earning less than $250,000. That allowed the top earners to accumulate ...

But home equity borrowers, whether they used a home equity loan or HELOC, have potentially valuable tax deductions to explore before submitting their return. So take the time to understand the ...

Interest paid on a home equity loan may be tax-deductible if used for IRS-approved reasons. Getty Images/iStockphoto The deadline for filing your 2022 taxes is just weeks away (April 18, to be exact).