How to Choose Your Will County and Chicagoland Super Mortgage Lender Updated Oct. 9, 2013
How to Choose Your "Super" Mortgage Lender. One of the questions I see crop-up often on real estate websites such as Zillow and Trulia comes from First-time Home Buyers. It concerns HOW they should go about looking for and choosing the Mortgage Lender for their first home's financing.. Often, in response to...
Helpful Info & Hints for First-Time Homeowners Filing 2012 Taxes Updated Oct. 24, 2014
Helpful Info & Hints for First-Time Homeowners Filing 2012 Taxes. By now, you should have received the end-of-year information you need to file your 2012 taxes. If you were a new First-Time Home Buyer during 2012, this year will be your first opportunity to claim any tax savings available to you through your...
If it Walks like a Duck and Quacks like a Duck ... it isnt always a Duck! Updated Oct. 9, 2013
Condominium ... or Townhome? Which is it?. This age old question recently reared itself, had me scratching my head, and doing some major homework and clean-up for a couple of weeks. First, let me give you some background on an unusual circumstance .... My Borrower had transacted for a property listed as a Condominium. Only...
You're Getting Married! Congratulations! Establish a Lifetime of Good and Sound Financial Habits Together Updated Oct. 9, 2013
You're Getting Married! Congratulations! Establish a Lifetime of Good Sound Financial Habits TogetherLast Sunday, February 24th, 2013, I participated in the Bridal Show and Expo held at The Renaissance Center, 214 No. Ottawa Street, in Joliet, IL. I was asked to participate in the Bridal Show and Expo by...
What are Appraisers Looking for in Current Chicagoland FHA Assignments? Updated Oct. 9, 2013
What are Appraisers Looking For in Current Chicagoland FHA Assignments? FHA loans have been gaining a lot of attention as of late. As of April 1st, FHA annual mortgage insurance premiums rose on the majority of FHA loans by 0.1%, or 10 basis points. Still, even with the rise in cost, FHA is a viable option for many...
Helpful Info and Advice for Chicagoland Flood Disaster Victims Updated Oct. 9, 2013
Helpful Info and Advice for Chicagoland Flood Disaster Victims. In Illinois, 44 counties have been declared state disaster areas as a result of the recent torrential downpour of rains. Several towns in the Chicagoland area have independently declared a state of emergency as well. Those include the Villages of...
In Mortgage Financing: It's Not Simply about Being Employed Updated Oct. 9, 2013
In Mortgage Financing: It's Not Simply about Being Employed. I try to keep track and analyze those blog posts that receive the most attention and get the most comments. What I learn from doing this, is that posts that recount actual transactions and actions that have transpired within my clients'...
The Many Reasons to Find Your "ah-HAH" Moment Updated Oct. 9, 2013
The Many Reasons to Find Your "ah-HAH" Moment. Once again last week while speaking with a potential Borrower, I was asked the question, "is it worth the hassle and time to Refinance my mortgage"?. I get similar questions touching upon the "hassle" and difficulty of obtaining a current mortgage fairly often. As a...
To "JUMBO" or Not to "JUMBO"! That is the Question ... Updated Oct. 9, 2013
To "Jumbo" or not to "Jumbo"! That is the question .... Many of my Chicagoland referral partners and fellow ActiveRain members have been reporting that their higher-end housing markets are seeing healthier sales this Spring. Finally! Our local housing markets are healing!. Margaret Goss, Baird & Warner Real...
What's the Best Gift You Can Give a High School Graduate? Updated Oct. 9, 2013
What's the Best Gift You Can Give a High School Graduate?. It's graduation season. Graduation parties are being hosted by proud families everywhere. Our children's accomplishments are being celebrated.. I don't know anyone that isn't happy or doesn't have high hopes for a...
Lets Play Connect the Dots with your Mortgage! Updated Oct. 9, 2013
Let's Play "Connect the Dots" with your Mortgage!Questions from Underwriters regarding new accounts, transfers between accounts, and debts pop-up fairly frequently. Clients don't always seem to "connect the dots" between the actions they take ... and the possible consequences they may reap from...
An ALERT regarding current volatile Interest Rates and HOW they can effect your transactions Updated Oct. 9, 2013
An ALERT regarding current volatile Interest Rates and HOW they can effect your transactions. Last Friday, after an especially volatile couple of days in the market, I sent out an email to my referral agents, brokers, and others regarding what was taking place as it pertained to Interest Rates ... and how a rise in...
How Public Transportation Affects the Value of your Chicagoland Home Updated Oct. 9, 2013
How Public Transportation Affects the Value of your Chicagoland Home. In Chicagoland, areas once considered "rural" when my wife and I were growing up are now thought of as suburbs of the city of Chicago. Roads that used to see limited traffic are now considered main arteries.. Because of that fact, and the...
What an Underwriter does NOT want to see when viewing Chicagoland Real Estate Contracts Updated Oct. 9, 2013
What an Underwriter does NOT want to see when viewing Chicagoland Real Estate Contracts. Recently, I've seen some repetitive scenarios popping-up on my mortgage clients' Sales Contracts, as they pertain to "concessions" and property repairs. Several of the transactions I've seen have had...
Sitting on the Fence Can Cost You ... and be Pretty Painful Updated Oct. 9, 2013
Sitting on the fence can cost you ... and be pretty painful. I wrote a blog about this very point just a couple of days ago.Indecision, inaction, and not listening to the advice of the professionals you've chosen to work with is a bad combination when hoping to Buy a Home. Each certainly took a heavy toll on my...