How Prepared are You?

How Prepared are You?

     The question above is a timely one.  We're entering Tornado Season again in the Chicagoland area ...

     Do you know ...

• In an average year, 1200 tornadoes are reported?
• That a tornado has the capability to lift 20-tons?
• The winds of a tornado are clocked at 200+ mph?
• That those winds can drive a blade of grass through walls, lumber, and more?
• That the months of April, May, and June typically have the highest number of tornadoes reported each year?
• That the majority of tornadoes occur between the hours of 3 pm and 9 pm? (But can occur 24 hours of the day)
• On average, tornadoes claim the life of 80 people per year?
• That the National Weather Service in Chicago rated 2015's Tornado Season the most active since recording started in 1950?

     All reasons to take tornadoes seriously and to take measures to protect yourself. 

     There are 2 weather alerts typically broadcast when conditions are in play for tornadoes to form, those being a Tornado Watch ... and a Tornado Warning.  

     Here's the difference, as described by the National Weather Service: 

   

 A Tornado Watch:   Is issued by the NOAA Storm Prediction Center  meteorologists. 

     A Watch is issued when atmospheric conditions are favorable for the development of severe thunderstorms capable of producing tornadoes.

     A Tornado Warning:   Is issued by your local NOAA National Weather Service Forecast Office meteorologists.  This means a tornado has been reported by spotters or indicated by radar and there is a serious threat to life and property to those in the path of the tornado.

     A Warning is issued when a severe thunderstorm has developed and has either produced a tornado or radar has indicated intense low-level rotation in the presence of atmospheric conditions conducive to tornado development. 

     To prepare/protect yourself in the event of a tornado or tornado conditions, it's wise to put some precautionary safety measures into place beforehand.  

     Prepare yourself an emergency kit.  The kit should contain:   

• Battery-powered radio
• Flashlight 
• Extra batteries for the flashlight and radio
• Water (1 gallon/per person/per day)
• Canned or Dried Food (3-day supply)
• A manual can opener
• First-Aid Kit
• Any medications needed (prescription and over-the-counter)    

     Store important documents in a fire and water-proof safe or safety box.  Documents should include:

• Social Security Card(s)
• Birth Certificates
• Ownership papers for your car, etc.
• A copy of your Will
• Insurance Policies (all kinds)
• A Household Inventory, including serial numbers, photographs/video of your contents from each room
• Photos of valuable items

     What to do if a Tornado Warning is issued for your area:

• Listen to your local news/weather channel.  Stay informed
• Put shoes on
• Secure loose outdoor items (Lawn furniture, potted/hanging plants, trash cans, etc.)
• Do NOT open the windows of your home
• Put your garage door down
• Choose your "safe room" (Basement, storm cellar, interior room with NO windows)

     What to do DURING a Tornado:    

• Seek shelter
• Don't forget to gather your pets
• If no basement/cellar shelter is available, head to the lowest level/most interior portion of the building.     
• Stay away from windows
• If no building is available, get into your vehicle.  Drive to the closest shelter.  (Keep in mind that tornadoes typically travel from southwest to northeast ... or west to east.  Drive in a right angle from the storm)
• If driving, look for a ditch or piece of land lower than the level of the road. Get out of the car and lie face-down there
• If you can't drive elsewhere, stay in the car with a seatbelt on. Put your head down.  Cover yourself with a jacket/blanket, etc. if possible, or cover yourself with your hands 

     After the tornado has passed:     

• Check for injuries/injured
• Let your family and friends know you are safe
• Check on others' safety
• Keep pets with you, under control
• Stay out and away from damaged buildings.  (Risks of electrocution, fires, or explosions exist)
• Watch where you walk.  (Exposed nails, broken glass, etc. can be everywhere)
• Do NOT light candles.  Use battery-powered items only
• Do NOT go near downed power lines/broken gas lines
• Report outages to utility companies
• If possible, take pictures of the damages sustained for insurance claims made later
• Clean-up, but take precautions with flammable and hazardous liquids, etc.  Wear gloves.
• Cooperate with public/community safety officials

   

     Preparation ... and practice of safety precautions prior to a tornado occurring are the most effective measures to be taken in regards to tornadoes and their aftermath.  Do both now.  

     Don't wait ...

     *  Hoping to Buy or Refinance a home in Chicago or elsewhere in the Chicagoland area?  Contact me!  I'll put my 40+ years of Mortgage experience and expertise hard to work on your behalf.

     I'm easily found at:

Gene Mundt

Mortgage Originator  -  NMLS #216987  -  IL Lic. #031.0006220  -  WI Licensed #216987

American Portfolio Mortgage Corp.

NMLS #175656

Direct:  815.524.2280

Cell/Text:  708.921.6331

eFax:  815.524.2281

gmundt@goapmc.com

www.genemundt.com

  

             

      

Gene Mundt, Mortgage Originator, an Originator with 40+ years of mortgage experience, will offer you exemplary mortgage service and advice when seeking:  Conventional, FHA, VA, Jumbo, USDA, and Portfolio Loans in Chicago and the greater Chicagoland region, including:  The Lincoln-Way Area, Will County, (New Lenox, Frankfort, Mokena, Manhattan, Joliet, Shorewood, Crest Hill, Plainfield, Bolingbrook, Romeoville, Naperville, etc.), DuPage County, the City of Chicago, Cook County, and elsewhere within IL & WI. 

Referrals are Welcomed!

Mortgage Change With Real Impact: FHA to Loosen Standard Regarding Student Loans

Mortgage Change With Real Impact:

FHA to Loosen Standard Regarding Student Loans

     In recent months, it appears that mortgage lending practices are trending in favor of Borrowers ...  

     This is great news after years of restrictive guidelines implemented as a result of the mortgage crisis and real estate downturn.

     Some examples of this trend to more favorable borrowing practices are:

• Fannie Mae re-invented their 3% Down financing program, known as HomeReady, that showcases more options that help Borrowers obtain financing for their Personal Residence
• Private Mortgage Insurance on Conventional Loans became less costly to Borrowers putting less than 20% down payment on their home purchase
• And FHA announced an update pertaining to Student Loans and how they'll be viewed.  A new method for calculating and accounting for "unknown re-payments" Student Loan debt was put into practice. 

      Beginning June 30, 2016 ... FHA significantly reduced the calculations Lenders must apply for certain Student Loan Payments.  For many home buyers that have been kept out of the home buying market as a result of their Student Loan debt, this was very welcome news.  

     The simply stated version of this revised Underwriting Guideline, is found below:

       Consistent with industry practice, the revised guidance allows the same calculation criteria to be applied regardless of the student loan payment plan type (such as income-based payment plans) or deferral status, and also includes:

• A 50 percent reduction in the percentage used to calculate monthly student loan obligations, or the use of the actual documented payment when the payment fully amortizes the loan over its term. This may result in increased purchasing ability for some borrowers, while ensuring borrowers have the long-term ability to meet debt obligations.
• The separation of student loan policies from other deferred obligations and installment loans, including future incorporation into the Single Family Housing Policy Handbook 4000.1. This separation provides greater clarity for mortgagees on the unique treatment of student loan payment calculations versus the calculations required for other deferred obligations.

     But the bottom line regarding these changes is:  
     

     If you thought your Student Loan debt would keep you from being approved to buy a home .... or you thought the amount you'd qualify for would be less because of Student Loan debt ... relief may have arrived. 

     As always, it's best to contact me so we can do a full analysis of your current (and total) financial situation.  Only then can you get up-to-date answers as to current Mortgage and home buying options available to you.

     *  Hoping to Buy or Refinance a home in Chicago or elsewhere in the Chicagoland area?  Contact me!  I'll put my 40+ years of Mortgage experience and expertise hard to work on your behalf.

     I can be easily found at:

Gene Mundt

Mortgage Originator  -  NMLS #216987  -  IL Lic. #031.0006220  -  WI Licensed

American Portfolio Mortgage Corp.

NMLS #175656

Direct:  815.524.2280

Cell/Text:  708.921.6331

eFax:  815.524.2281

gmundt@goapmc.com

www.genemundt.com

  

             

       

Gene Mundt, Mortgage Originator, an Originator with 40+ years of mortgage experience, will offer you exemplary mortgage service and advice when seeking:  Conventional, FHA, VA, Jumbo, USDA, and Portfolio Loans in Chicago and the greater Chicagoland region, including:  The Lincoln-Way Area, Will County, (New Lenox, Frankfort, Mokena, Manhattan, Joliet, Shorewood, Crest Hill, Plainfield, Bolingbrook, Romeoville, Naperville, etc.), DuPage County, the City of Chicago, Cook County, and elsewhere within IL & WI. 

Referrals are Welcomed!

Tips on How to Protect Your Chicagoland Home and Family

  Tips on How to Protect Your Home and Family   

     Last week, we had a bit of excitement in our neighborhood.  Someone tried to break into multiple homes during the middle of the night ...

     Our neighborhood's not known for having such problems.  The police reported it had been years since there'd been any calls received from the area.  

     We're all lucky.  No actual entry was made in any homes.  No one was hurt.  Nothing was taken.  We're all thankful for that.

     We're also lucky because our neighborhood is fairly tight-knit.  Talk about this incident spread fast and info got exchanged quickly.  

     Many of us have security systems.  Because of that, the police now have a variety of good pictures of our "visitor". A huge advantage to them ... and us both.  

     This experience proved one thing clearly to me. Burglaries can happen anywhere.  No area's immune.  It also motivated me to educate myself a bit regarding burglary and protecting my home and family.  

     Below are some of the tips I found most beneficial.    Many are common sense and easily accomplished. Others provide ideas a bit more unconventional and beyond those typically seen. 

     I hope you think seriously about conducting the following preventative measures around your home or adding them into your daily routine  ...     

     How to Protect Your Chicagoland Home and Family:

• Change all exterior lighting to those with motion detectors.  Light is a burglar's enemy.  
• Let neighbors know that you have installed motion detectors.  That way if you're away and they see lights activated, they're on the alert for suspicious things taking place on your property
• If you choose to plant shrubs or flowers near your home/windows, make sure they're thorny plants
• When away, use multiple on/off light timers with more than one on/off cycle to simulate movement from room to room
• Don't stop your mail or deliveries when away.  Instead, have them picked-up.  Seeing deliveries made makes burglars wonder if someone's home
• Don't talk about your vacation plans in salons,
  
  restaurants, etc. ... or ONLINE.  
• Post vacation pictures after you get home
• Lock the door between the inner part of your home and the add-on garage while at work and during the night.  
• When kids come home late at night, have them follow a lock-up/security routine
• Lock your sheds or outer storage units up, especially if they contain ladders or tools that would aid in a break-in
• If you keep your garbage/recycling cans in the garage, make sure you keep your garage door closed at all times (even if working in your yard) and locked-up at night.
• Shred, shred, shred documents before you recycle or throw them in the garbage  
• Breakdown boxes of high-value gifts or equipment.  Boxes of this nature placed for curbside pick-up are like advertisements to burglars
•  If you have a keypad entry at your door or garage, replace the pad periodically.  Older pads (via their wear patterns) reveal codes 
•  Keep important documentation, a detailed inventory, passports, etc. in a fireproof safety lockbox.  Store that box in your basement where it's less likely to be found and heat is less in case of fire
• Pet doors are becoming more and more popular.  Should you have one, make sure it's not a place of entry for burglars.  Get a lock for it
• Place simple rubber door-jambs at entry doors at night.
• Ladies!  Don't leave your purse in the line of sight from windows and doors.  Same goes for computers, cell phones, wallets, and keys
• If you have a wall air-conditioning unit, secure it in order to disable it being used for entry
• Make the security of your home and locking of doors and windows a routine followed systematically   
• Establish a relationship and get to know your neighbors.  Watch-out for one another

     Hopefully you never experience a burglary.  By implementing and practicing the above, and other steps of protection, you certainly lower the possibility of it.

     Be aware ... and take care ...

     *  Hoping to Buy or Refinance a home in Chicago or elsewhere in the Chicagoland area?  Contact me!  I'll put my 37 years of Mortgage experience and expertise hard to work on your behalf.

     I can be easily found at:

Gene Mundt

Mortgage Originator  -  NMLS #216987  -  IL Lic. #031.0006220  -  WI Licensed

American Portfolio Mortgage Corp.

NMLS #175656

Direct:  815.524.2280

Cell/Text:  708.921.6331

eFax:  815.524.2281

gmundt@goapmc.com

www.genemundt.com

  

             

       

Gene Mundt, Mortgage Originator, an Originator with 37 years of mortgage experience, will offer you exemplary mortgage service and advice when seeking:  Conventional, FHA, VA, Jumbo, USDA, and Portfolio Loans in Chicago and the greater Chicagoland region, including:  The Lincoln-Way Area, Will County, (New Lenox, Frankfort, Mokena, Manhattan, Joliet, Shorewood, Crest Hill, Plainfield, Bolingbrook, Romeoville, Naperville, etc.), DuPage County, the City of Chicago, Cook County, and elsewhere within IL & WI. 

Referrals are Welcomed!