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Showing posts from February, 2013

Helpful Info & Hints for First-Time Homeowners Filing 2012 Taxes

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 HomeBuyer during 2012, this year will be your first opportunity to claim any tax savings available to you through your homeownership.


     Homeowners can deduct expenses they sustain throughout the year for owning their home.  But which ones?  


     Below is a list of some of those deductions your can itemize when you file  Form 1040Schedule Afor taxes:

*  Real Estate Taxes: The homeowner must have paid the taxes at the time of Settlement/Closing (the share you, the homeowner paid as opposed to the Seller) ... or to the taxing body during the year.  This includes any payment made from an escrow account.

*Home Mortgage Interest Payments  (Main or 2nd Home, 1st or Second Mortgage)

*Points paid on your home loan.Note:  Points, as a general rule, cannot be deducted in their full amount within the year…

You're Getting Married! Congratulations! Establish a Lifetime of Good and Sound Financial Habits Together

You're Getting Married!  Congratulations! Establish a Lifetime of Good and Sound Financial Habits Together



     This Sunday, February 24th, 2013, I will be participating in theBridal Show and Expo  being held at The Renaissance Center214 No. Ottawa Street, in Joliet, IL.  The hours of this year's event are 12 Noon to 4:00 pm

     I was asked to participate in the Bridal Show and Expo by one of my favorite referral partners,  Heather Jelic, of  RE/MAX Action  located in Lisle, IL.  Heather and I are looking forward to meeting all the young couples attending this event.  Their happiness and enthusiasm is infectious and it certainly makes it fun to be in their presence both at the Expo and working with them in the future.

     I obviously wanted to have valuable information on hand for those young couples dreaming of buying a home at some point in their future.  So I put together a list of handy budgeting and financial suggestions that, when followed, will help the newlyweds tur…

The Questions You Should Ask Your Will County Mortgage Lender in Order to Receive the Best Mortgage Financing for Your Needs

The Questions You Should Ask Your Will County Mortgage Lender in Order to Receive the  Best Mortgage Financing for Your Needs

In earlier posts, I have addressed some of the more major issues surrounding mortgages, mortgage processing, and mortgage closings. 


     In my post, "WHY Home Buying Transactions Must Begin With Home Buyers Getting Pre-Qualified!", I spoke of the great importance of being  pre-qualified  for your mortgage financing prior to viewing homes.

     In  "Your Preparation and Planning for Buying a Home Needs to Start Well in Advance of Your Viewing of Homes", I addressed the time-frame you should follow as you begin the home buying and mortgage process.  

     I've even provided helpful information as to  HOW to find your Mortgage Lender.  But once you have found and decided upon your Mortgage Lender, what then?  What questions regarding mortgages and mortgage processing should you ask?  What needs regarding your financing should you see to fulfil…

Considering Helping Your Child Buy a Home in Will County or Chicagoland? What Parents and/or Co-Signors Need to Know

Considering Helping Your Child Buy a Home in 
Will County or Chicagoland?
What Parents and/or Co-Signors Need to Know


Within the current housing market, there is great opportunity to be found, especially for First-TimeHome Buyers.  The cost of borrowing, in regards to Interest Rates, has remained fairly steady.  

With all the positive opportunities that exist, many Home Buyers, along with their families, are looking to take advantage of the current positives by buying properties with the assistance of Co-Buyers/Co-Signors.  Most considering this path to home ownership are parents and/or relatives.

As aMortgage Originator,it's not uncommon for me to receive  questions regarding this method of Home Buying.  "Co-Signing" is happening more and more frequently, especially with young First-Time Home Buyers.  In Mortgage terms, this method of buying/borrowing is called being a "Co-Mortgagor" ... a fancy term for "another borrower".

This practice is typically utili…