The Hidden Truths Within Bankruptcy Filings      We've arrived at an unique point in the world of home buying and financing.  It comes on the heels of several years of financial hardships, unprecedented foreclosures, and job losses.           These challenges faced have often lead to the filing of Bankruptcy.  What's been contained, or included, in these Bankruptcy filings, are referred to as "Schedules".          First of all, let's understand the "layers" and the timelines involved in a Bankruptcy.       First, there is a:  Filing Date.       That is followed by a:  Discharge Date, a date that's usually a few months after the Filing.      All waiting periods (time period required prior to being capable of gaining approval for a new Mortgage) required in the Mortgage Industry are b... 10/20/2014

    Banking and Account Fees:  Why They Must Be Important to Millennials            Banks, many of which are trying to re-coup profits lost from low interest rates, mortgage lending, and the cost of doing business, have been raising the fees on many of their services ...          Those service fees that I as a Mortgage Lender see come into play most often for my Mortgage clients often "fly under the radar", meaning they often go undetected or are paid little attention.        Those two service fees?        ATM Fees and Overdraft Fees.      These two fees can mount up quickly for an account-holder.  They're sneaky. Too often they are dismissed as small and inconsequential, when in reality ... the monthly costs can become considerable.      I can't tell you how many times I've come into p... 10/18/2014

  Why Millennials Hoping to Buy a Home in the Future NEED to Establish Credit NOW         Here are 2 statistics I ran across recently: 80% of Millennials believe owning a home is "part of the American dream".  (Better Homes and Gardens Magazine 2014 Survey regarding the attitude and spending trends of American homebuyers) 63% of Millennials (those 18 to 29 years of age) don't have a Credit Card.  (Statistics provided by Princeton Survey Research Associates International)      As a Chicago-area Mortgage Lender, I can tell you ... those two statistics just can't co-exist in today's Mortgage Lending environment and when you're hoping to finance the purchase of a home.  No, in today's Mortgage world Buyers need to have established Credit and have let it "mature" in order to get more credit ... 10/06/2014

  Fall Means Football!   Lincoln-Way Community High School, District #210 2014 Varsity Football Schedules               Nothing says Fall like football ...           And the  Lincoln-Way Community High School, District #210, serving the New Lenox, Frankfort, Mokena, and Manhattan communities,  provides plenty of great opportunities to watch top-notch gridiron action.      Consisting of  4 separate schools and campuses, the Lincoln-Way Community High School, District #210 offers a full 2014 Fall schedule of exciting football games and superb half-time entertainment for area residents' and visitors' enjoyment.      Below you will find the 2014 Varsity Football Schedules for each of the 4 Lincoln-Way High Schools.  Whether a Lincoln-Way Knight, Phoenix, Griffin, or Warrior fan ... I hope y... 08/05/2014

  Prepare Your Credit & Finances for the Upcoming Holidays Now!          I know.  I know.  The Holidays are still months away.  And I've touched-upon this topic  before ...           But I think it's important ... and increasingly, people are planning for the Holidays and beginning to shop for the  Holidays earlier and earlier in the year.  So I'm thinking NOW ... even though it's warm out ... is the perfect time to make plans regarding your budget, credit/credit cards, and finances for this year's Holiday celebrations and expenditures.        Anticipating and planning for this year's Holiday activities and gift-giving demands is a great place to start.  Start by compiling a list that includes:   A Budget:  What is the total dollar figure you have to work with? Names:  Who will you want... 07/28/2014

Driver Safety Course for Manhattan & New Lenox  Mature Drivers Scheduled for May 5th, 2014          Mature drivers from the local Lincoln-Way Communities of  Manhattan and  New Lenox are being offered an opportunity to participate in a "Driver Safety Course" made available through their community's police departments in conjunction with AARP.          This "Driver Safety Course" is being held at the New Lenox Village Hall located at 1 Veterans Park Way on May 5th and 6th, 2014, between the hours of 9 am to 1 pm.  The course will be offered in the Village Hall's Community Room.        This beneficial course will cover:   License Renewal Requirements Driving Laws and Regulations Driving Skills Local Driving Issues and Problems      Savings, discounts, and auto insurance premium reduction... 04/24/2014

  What are the Requirements to Qualify for a Home Loan Today?          Frequently I hear the question ...       "What are the requirements to qualify for a home loan today"?       To answer that, I'm first going to list what are considered as foundation requirements for current mortgage loans.  When I say "foundation", I mean that they are the basic requirements that must typically be met by those seeking financing.        The most basic and frequently seen requirements (the foundation of most mortgage approvals) are as follows: Credit:  Middle FICO Scores are used to determine eligibility.          MOST standards are:       Conventional:  620 FICO Score or higher       FHA:  640 FICO Score or higher.  In some cases, the scores utilized can be as low as 580 to 640         VA:  620 FICO ... 04/22/2014

  Homeowners Insurance Importance to Mortgage Pre-Approval, Application & Closing       After you've signed your Real Estate Contract and you've agreed to purchase a home, there's still work for you to do as a Buyer and Borrower ...        Typically a Real Estate Contract reads that Home Buyers must make Mortgage Application within 5 business days after signing the Contract.  During the Mortgage Application (and even before) I, as your Mortgage Lender, will advise you to begin shopping for your Homeowner's Insurance.       For the Pre-Approval, and even at the time of Mortgage Application, I'm using an ESTIMATED dollar amount for the cost of your Annual Insurance Premium.  Why?  Because I (and Underwriting) must know and use the actual annual premium to calculate your EXACT total housin... 03/31/2014

  The Beauty and Benefit of Organization to Mortgage Financing          The word:  Organization ...             The definition of Organization:  The act or process of putting the different parts of something in a certain order so that they can be found or used easily     Some Synonyms for Organization:    Grouping Structuring Management  Planning Method Assembly           During tax season, is the perfect time to talk of ... Organization.  Because if you're ever going to be organized during the year ... or have the organization of your finances and financial papers under control ... it's during this time.  In a way, it's almost mandatory in order to file taxes.  At least in some good measure.      For those thinking you may want to buy a home during the remaining portion of the year, pa... 03/21/2014

  Is it the Right Time for You to Sell Your  Present Home & Buy the Next?        The final decision to refinance your existing Mortgage (or not), should be based on one simple thing ...         It must make good financial sense!       That decision is often times determined by the length of time you, as a Homeowner, "guesstimates" you'll own your loan (i.e., stay in your present home).  A good rule-of-thumb is that the monthly payment savings received through the Refinancing (at minimum), should "pay back" your Closing Costs for your Refinance.      Similar (and additional) considerations need to be made by those Homeowners hoping to upgrade or "step-up" to a bigger and better home and becoming Home BUYERS again.        For those in this situation, it's important to remember:  ALL trans... 02/27/2014

  St. Jude Catholic Church, New Lenox, IL   Parish Mission Team Recycling Fundraiser           St. Jude Catholic Church in New Lenox, IL  is presently taking part in a recycling fundraiser that will help members raise money for mission trip expenses planned during the Spring and Summer of 2014.  Mission Members will be serving to help in a variety of locations, including Kentucky, southern Illinois, and Minnesota.        St. Jude's Parish Mission Team members are asking for New Lenox area residents and businesses to help them in their effort and to assist them in their goals.            The Mission Team is asking that the following items be donated: Empty Inkjet Cartridges Cell Phones Laptops MP3 Players GPS Units Toner Cartridges Digital Cameras More  (For a complete list of recyclable... 02/20/2014

  10 Tips for Constructing a New Home  in New Lenox and Chicagoland      No doubt about it.  The winter we've had in Chicagoland this year has been a long and challenging one.  Mother Nature dumped one more round of snow on us yesterday.   Yet, truth is, Spring isn't that far off.  It will definitely be very welcomed this year ...       Last year, and even into this harsh winter, we did find more new construction popping up in the Chicagoland area.  In Will County, a handful of towns saw applications for new housing permits numbering over 100+.  The Village of New Lenox, a  Lincoln-Way Community, was one of them.  Great news for the area.      The Village of New Lenox has issued 180 new construction permits for this year so far.  (The Village's fiscal year ends April 30th).  Newer chang... 02/18/2014

    5 Indicators Point to the Wisdom of Home Buying "Sooner than Later"        Today's news looks something like this ...   "Mortgage Rates Convincingly Higher,  Momentum Shifts"         Those headlines come fast on the heels of Interest Rates recently having taken a slight downward track over the last week or so.  Moving forward, the consensus of experts seems to be (along with these articles) that Rates will move generally upward during the year (2014).          Often it's hard to predict with real accuracy where Interest Rates are headed, especially in these quickly changing times.  Interest Rates, much like gas and oil prices, are like yo yos and rise and fall in tandem with the Financial Markets.  The Financial Markets rise and fall upon the events occurring around the world.  Who ... 02/13/2014

  Heading to College?   Protect Your Finances Now .. and for the Future          It happens fairly frequently ...     While reading through a potential Mortgage Applicant's Credit Report, I'll discover that many of their reported debts and Credit Cards were first established while they were in college.  And now years later, they're still trying to pay off those debts.     Yes, it's true.  The Credit Card Act (signed into law May 22nd of '09) is supposed to be addressing some of these issues by removing Credit Card companies ... and the temptations they offer to college students for applying for cards ... from campuses.       For those under 21, the Credit Card Act has also made it harder to be approved for a Credit Card.  A parent, guardian, or spouse must be willing to co-sign on a Car... 02/04/2014

Cherry Hill, Homes for Sale in New Lenox, IL Cherry Hill Real Estate Statistics Average Home Size: 2026 Average Property Taxes: 3666 Homes Listed: 12 Homes Sold: 5 Average Number of Days To Sell: 176 The above New Lenox real estate statistics were compiled by Team Bowers Realtors based on homes listed for sale in Cherry Hill, New Lenox, Illinois between December 19th, 2012 and December 19th, 2013. Homes for sale in Cherry Hill Address Beds Total Baths Total Sqft Year Built List Price 110 Wintree Lane 5 2 0 1978 $204,900 Sold Real Estate in Cherry Hill - (October 17th, 2013 - January 15th, 2014) Address Beds Total Baths Total Sold Price 2913 Sheffield Drive 4 2 $200,000 335 Essex Lane 4 2.1 $230,000 The data relating to real estate for sale on this website comes in part from the Broker ... 01/15/2014

New Lenox Park District Hosting "Free Throw & 3-Point Contest" Saturday, March 1, 2014      The New Lenox Park District is hosting a "Free Throw & 3-Point Contest" on Saturday, March 1st, 2014 at the Lincoln-Way West High School Field House.       The "Free Throw & 3-Point Contest" on March 1st starts promptly at:  1:00 pm.       Age Brackets consist of: Grades 1 - 3 Grades 4 - 6 Grades 7 - 8 Grades 9 - 12      The Lincoln-Way West High School Field House is located at:  21701 So. Gougar Road, New Lenox, IL.   View Larger Map View Larger Map          The entry fee for the New Lenox Park District's "Free Throw & 3-Point Contest" is: $10 for Residents and Non-Residents alike.     Registration is necessary.  The deadline for Registration is:  Wednesday, February 26th.  No walk-in Registrat... 01/15/2014

Country Villa, Homes for Sale in New Lenox, IL Country Villa Real Estate Statistics Average Home Size: 1416 Average Property Taxes: 3744 Homes Listed: 22 Homes Sold: 13 Average Number of Days To Sell: 127 The above New Lenox real estate statistics were compiled by Team Bowers Realtors based on homes listed for sale in Country Villa, New Lenox, Illinois between December 19th, 2012 and December 19th, 2013. Homes for sale in Country Villa Address Beds Total Baths Total Sqft Year Built List Price 859 Winter Park Drive 3 2 1448 1989 $161,900 Sold Real Estate in Country Villa - (October 11th, 2013 - January 9th, 2014) Address Beds Total Baths Total Sold Price 831 Winter Park Drive 2 2 $158,000 914 Shagbark Road 2 2 $130,000 The data relating to real estate for sale on this website comes in p... 01/08/2014

  Take Advantage of the FREE Safe Ride Home Program in New Lenox, Tinley Park, Mokena, Palos Heights or Orland Park, IL on New Year's Eve 2014!      Do you live (or hope to celebrate) New Years Eve 2014 within the Villages of: New Lenox, IL Tinley Park, IL Mokena, IL Palos Heights, IL Orland Park, IL         If so, and those celebrations include alcoholic beverages ... please consider taking advantage of the FREE Safe Ride Home Program being offered this New Year.       The FREE Safe Ride Home Program, funded by the participating municipalities above and the Michael P. Gordon Foundation, will be offering FREE rides home from business establishments located within the participating Villages between the hours of 11 p.m. on Tuesday evening, December 31st and 4 a.m. on Wednesday, January 1s... 12/27/2013

  When "NO" Doesn't Mean "NO" ... or at Least Not Forever          Do I have you thoroughly confused with my title?  If so, let me explain ...           So many of my potential Mortgage Applicants mention thestatistics reported regarding their chances of successfully obtaining financing for a home purchase.  Add what's heard regarding today's actual Mortgage process (which is portrayed as pretty bad too) ... and I can find myself in front of some pretty scared people.  Especially true, if they're First-Time Home Buyers.        It's hard to deny that the current process for obtaining Mortgage financing can be challenging.  I've addressed this fact many times in prior posts.  In those post I've firmly stated what I also believe to be a fact ... that WHO you choose to work with while pursu... 12/19/2013

  Food Pantry Programs and Assistance in Village of New Lenox & New Lenox Township, IL      It would never be easy to struggle or know that you might have a hard time putting food on your family's table.  But during the Holidays, that struggle seems especially cruel.      In the Village of New Lenox and the surrounding New Lenox Township area, residents can find multiple resources that will aid them in their struggle ... via timely assistance and food supplies.        The New Lenox Township, in accordance with State of Illinois guidelines, assists its qualified residents with food staples and supplies.  It also provides help during emergency situations.     New Lenox Township Food Pantry hours are: Monday through Friday:  8 am to 4 pm Township Pantry Location: 1100 So. Cedar Rd., New Le... 12/16/2013