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Showing posts from November, 2012
Don't  Stop Believin'

     Admittedly, it's been a long day.  And that following an extended Holiday weekend has left me feeling a bit out-of-sync.   
From what I can tell, I'm wasn't the only one that was having a bit of trouble getting back into the swing of things again today.  The phones were quieter.  People a little subdued when we spoke.  I guess many were off trying to score some Holiday deals during  Cyber Monday ... or still fighting the turkey daze they had put themselves in on Thanksgiving.
     During lunchtime, I did my usual reading and scouring of the internet.  Lunchtime is typically  "continuing education"  time for me.  Multiple times while reading today, I came upon real estate blogs addressing what effect the Holidays might have on home sales ... or the insanity they might reek during that time.  
Many posts debatedthe wisdom of trying to buy or list a home at all during this busy seasonal time.Some broached marketing strategies for real …

The Importance of Home Insurance

The Importance of Home Insurance

     A topic that is always touched-upon in the earliest stages of my mortgage consultations is  Homeowner Insurance.  This insurance is a requirement for Closing and proof of the mortgage company or bank being shown as  Mortgagee  must be proven ahead of time.  A receipt and cover-sheet proving payment of the first year of Homeowner Insurance is required prior to Closing Day. 

     And lately there's been a new twist added ... Underwriters are requiring the "true" insurance cost as a condition of the Loan Approval.  (Contact me for more info and detail regarding this.)
     Any mortgage company or bank will require that your Homeowner Insurance is, at minimum, the dollar amount you are borrowing on the property.  In other words, enough to cover the  Principal amount  of your mortgage.  That way the Mortgagee's interests are covered, should loss occur. 
     But beyond that ... as a homeowner or property owner, how much policy do you nee…

Jumbos are Back!

Jumbos are Back!

Chicagoland has many areas within it that traditionally can support the use of Jumbo Mortgages ... those mortgages that are higher dollar amounts than the norm or average that exceed allowable limits for "conforming" loans , eligible for placement with Fannie Mae/Freddie Mac.

     With many of the housing markets in Chicagoland, and across the nation, now experiencing a resurgence in sale prices, the interest in  Jumbo Mortgage  products is returning.  Both clients and agents alike are  contacting me  for information about availability of this type of financing ... and about what interest rates are attached to them.

     I'm not typically a  Mortgage Lender  that broadcasts rates, as they can change quickly ... and come attached to  variables dependent on the personal finances of the Borrower.  But I want to get the message across and out ... Jumbo Mortgages ARE available and at once in a lifetime rate levels. That is news ... welcome news, to many.


Have a Daughter? Educate Her Early About Finance, Credit, and Buying a Home ...

Have a Daughter?
Educate Her Early About Finance, 
Credit, and Buying a Home

Maybe this topic is close to my heart because I am the grandfather of 2 beautiful grand-daughters.  That certainly has brought the urgency of the following topic "home" ...

In the not too distance past, having conversations with a daughter regarding finances, credit, and buying a home just never would have happened. Or at least, rarely. Thankfully, those days are behind us.

As I've mentioned before in previous posts, talking finances and credit with any child is important.  And those conversations andthatfinancial education should occur early-on.  The better grasp our children have of these topics, the brighter and more secure their future is.  

But for daughters ... and women in general, the need to talk and learn about this topic takes on special significance and urgency.  Two facts drive this need: 
First:  According to a study by Harvard University's Joint Center for Housing Studies, the follo…

Baby Steps ... take those Baby Steps! Just get started ...

Baby Steps ... take those Baby Steps! But get started ...

Remember the movie, "What About Bob" and the scene about baby steps?I think it's hilarious.  But it also speaks to my present strategy regardingmy SEO and Social Media knowledge and efforts ...

Lately, there's been alot of talk on ActiveRain and other sites about the merits of SEO and Social Media ... in particular the platform of  Google+.

     I'll be the first one to admit it, I'm NOT a techie and I don't understand much of the pros, cons, and wisdom of posting a certain way ... or using hashtags ... or + marks ... and so much more.  I understand just enough to know that I don't know what I need to ... or enough of it.  

     Simply put, my head spins at times and I feel almost panic stricken.  I'm a Mortgage Lender for godsake!  I don't think I'm alone in my feelings or assessmentregarding this stuff.

     But that said, I HAVE learned some strategies and some fairly important and hel…

I Promise to Love, Cherish ... and Pay My Bills??

I Promise to Love, Cherish ... and Pay My Bills??

*  Food for thought:
According to the 2010 Current Population Survey (conducted annually by the U.S. Census Bureau), there are about 7.5 million unmarried opposite-sex couples cohabiting in the United States today, a well as another 620,000 same-sex couples. The same source reported that married couples now account for only 48 percent of all households.         More and more often, especially with young, first-time home buyers, I am assisting unmarried partners with their mortgage financing ... and I'm seeing huge differences in many of their money-handling styles and skills.   While I see it in older couples too, the differences often are far more dramatic in the young.  It's very clear ... one  partner is the saver, the other  is the spender.  The conversations I have with them certainly reflect that too, as do their credit report(s).
    Right now, I'm working with a young, unmarried couple hoping to buy their fir…