Codilis and Associates is a law firm with interest in real estate. As part of its commitment to helping at-risk homeowners, Codilis & Associates joined forces with other Legal Aid groups to donate $125,000 to the Chicago Bar Association in 2011. The company also maintains a membership in the Federal Home Loan Mortgage Corporation (FHLMC).
The Federal Home Loan Mortgage Corporation (FHLMC), known popularly as Freddie Mac, was chartered by Congress in 1970. The enterprise was created to support homeownership and provide affordable housing by making money available to mortgage lenders. Freddie Mac buys several loans from mortgage banks and other mortgage lenders. Afterward, it sells them as mortgage-backed securities. Mortgage-backed securities are liquid, meaning FHLMC quickly gets back their cash and buys more loans from mortgage lenders, creating a loop where money is always readily available for the mortgage industry. The activities that Freddie Mac instigates end up providing housing for middle-income American families because mortgage lenders have the means to continuously re-lend property.
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Codilis & Associates has served its clients in the area of real estate law, focusing on evictions, real estate owned properties, bankruptcies, and building court. Archives
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