Chicagoland & Surrounding Northern Illinois County Offices:Update on Services The COVID-19 outbreak has presented many challenges for all real estate professionals on many fronts ...   One of those challenges has surrounded just WHO is still functioning and providing supportive services for transactions ... and under what circumstances they are providing them.   That's certainly been the case here in Chicagoland and surrounding Northern Illinois counties.   Knowing which counties have acclimated their services ... how they have acclimated them ... what county services are available ... and in what form they are available, is paramount to our completing real estate transactions with haste and accuracy. To help all professionals servicing our Chicagoland and surrounding Northern Illinois... 04/01/2020

  Addressing the Chicago-Area Housing Shortage: Can New Construction Be an Answer?  There's a home inventory shortage currently being experienced in the Chicagoland area, just as there is all across the U.S.  A recent report shared in Crain's Chicago Business proves that to be true, as it states that the number of homes for sale in the Chicago market in early 2020 is at its lowest level in 13 years.   That housing shortage is effecting first-time homebuyers especially hard.  Homebuilders have taken note.  As a result, many builders have begun tailoring their new construction projects and homes to please the eye and fit the lifestyle of younger first-time buyers. I did a little research of just a small portion of the Chicago-area housing market ... a 10-mile radius in Will County (locate... 03/27/2020

  Sheltering-in-Home? All Stocked Up?What You Can Do Next  The current coronavirus scare has many cities, states, and our entire nation declaring a "shelter-in-place" or lockdown of many businesses and services.  We're all having to learn how to navigate the stresses and challenges the virus has presented us. None of us can escape or overlook our current reality and these challenges ... challenges that include how we spend downtime, should we have any after seeing to our own health, our families, and livelihoods.  My wife, gramma to our 3 very active grandkids, has been scouring the internet trying to help to find activities, learning tools, and fun ideas to help our sons and their wives keep the grandkids busy, learning, and from going stir-crazy.  Thankfully, there have been many such... 03/23/2020

  Your Savings & Down Payment Secret Weapon:Your Tax Refund   Socking away money for any reason is no small fete these days ...    But when the savings are for the purchase of a home, especially if your first home, the act of saving money can seem even more challenging ... and take on an even higher importance.     The act of obtaining the "golden carrot" of homeownership can become all-consuming and almost a life-altering spiritual journey.  As a result, the journey can seem overwhelming at times and become even a bit frustrating for some.As a Loan Originator, I know I can sound a bit like a broken record.  But seeking advice and having a preliminary conversation with a mortgage lender (well in advance of starting a home search) provides a defined path of action and valuable help in ac... 03/20/2020

  What You Need to Know About Financial Markets and the Mortgage Process The speed and ferocity with which the financial markets have been moving as of late have been mind-boggling ...   Even consumers that are typically only casual observers of the financial markets, not participants in them, are aware of the market's recent erratic and volatile behavior.  Reports of the markets are everywhere.The level and the speed of the changes taking place have been alarming ... so much so that the trading markets have actually shut down twice (so far).  Hopefully, brighter and calmer days are ahead.  But until that takes place, special precautions and actions by those in and entering the mortgage process ... and their lenders and real estate team ... are needed.One such way that special precautio... 03/13/2020

  Arriving Summer of 2020:  The New FICO 10 Scoring ModelHere's What to Expect ...  Hotter temperatures aren't the only thing that will soon be rolling in.  A hot new FICO Scoring model will also make its entrance at some point during the upcoming summer months ... A new credit scoring model isn't that surprising of a development.  Since its inception in 1989, FICO Scoring has evolved and changed many times.  This new and latest version, called "FICO Score 10 and FICO Score 10 T", is to be released to credit bureaus this coming summer or early fall.  It will feature some broadened elements to the calculation of credit scores.The latter version ... FICO Score 10 T ... will utilize what is called "trended data".  As the tag-name suggests, this scoring model will use a wider scope when tak... 03/04/2020

   Refinancing ... is it right for me?  How to find out ...   There are many factors that influence the rise and fall of mortgage interest rates ...Case in point, right now the fear of a global coronavirus outbreak has the markets in a tither and that anxiety has resulted in lower and fluctuating interest rates.  How long will the virus continue to influence the markets?  Right now, that is unclear.As typical, the lower interest rates have many asking questions and inquiring about refinancing ...     Homeowners ask:      Can I Refinance? Is it smart to Refinance?   What can I accomplish by Refinancing?      Years ago, the theory was ... if you could save 1 percentage (1%) point off your mortgage rate ... it was smart to Refinance your loan.  That thinking then gave way to a new measurem... 02/07/2020

 Low Housing Levels = Fast-Paced Housing Market   You don't have to look far to find headlines that report about the housing shortage that many U.S. housing markets are currently experiencing.  They're everywhere. One reads, "Housing inventory falls to a two-year low".  Another reveals,  "For-Sale Housing Inventory at Multi-Year Low".  And that's just a smallthat's available across the many media formats. This lower level of available housing comes at the same time that the markets are seeing an uptick in the number of consumers wanting to buy a home.  Lower, tempting mortgage rates have made the prospect of homeownership, step-up buying, and refinancing attractive to a growing number of prospective buyers. Many prospects now entering a Chicago-area home search are finding that because ... 02/03/2020

  Lethal Mix:Procrastination and Mortgage Financing  If you read about real estate and financing much at all, you've probably run across numerous articles that spoke to the challenges and frustrations that can be found in modern-day transactions and their financing ... And as a mortgage lender, I won't deny that it can be true.  Challenges and frustrations exist.  For clients and professionals alike. But ... and there's always a "but", right?  In most cases, those challenges and frustrations don't need to be overly stressful, insurmountable or deal-killing.  Answers and solutions typically do exist. It's been my experience, that what causes or contributes to many of the issues and challenges heard and read about ... and yes, the high levels of stress experienced in many clients' transac... 01/29/2020

  January Should Make You Think "Taxes" ... both Income & Real Estate ... in Will County & Elsewhere  For those that are property owners in Will County, January 15th, 2020 was a day of great importance ...  That day marked the release and publication of the Will County Board of Review decisions regarding property assessment changes for the County.  It also marked the beginning of the 30-day window for filing an appeal for those property owners that might be dissatisfied with their property's value assessment. (Note:  Appeal Deadline is February 14, 2020)This information is timely and important to anyone that is a property owner within Will County.  Why?With the posting of this information, Will County property owners can get a very good idea of what their upcoming tax bills will be.  (I... 01/24/2020

  More Condo Transactions Possible Courtesy of Recent HUD/FHA Changes Today's homebuyers are increasingly reflective of the reality of modern life and its challenges ...As shared in my recent post, "Mortgage Advice & Options for Un-Married Couples", non-traditional methods of home buying are becoming (often out of necessity) more common and popular, especially among younger homebuyers.  Concerns regarding: Home Affordability Family Structure Marriage Finances Student Loans Employment More  ... are motivating buyers to seek home buying solutions beyond those utilized most frequently in the past. One such solution historically popular with young buyers and those downsizing has been the purchase of a Condominium.  Condos are often seen as the perfect fit for their finances, needs, and life... 01/21/2020

  The Mortgage Advice & Options Un-Married Couples Need to Know  It probably comes as no big surprise, when it comes to the housing market, the younger generations make up the largest percentage of home buyers. The following statistics from the National Association of REALTORS® Research Group April 2019 Report proves that to be true ... Millennials made up the largest share of home buyers at 37%. (Breakdown:  Older Millennials (Ages 29 yrs to 38 yrs) made up 26%.  Younger Millennials (Ages 21 yrs to 28 yrs) made up 11% of the shares reported) 86% of Younger Millennials and 52% of Older Millennials were first-time homebuyers But the info that caught my eye, in particular, is the significant percentage of homes reported as being purchased by buyers that are unmarried couples.  8% of those... 01/15/2020

 Herald News 2019 Readers' Choice Award Winner "Best Will County Mortgage Broker" -  Gene Mundt     Each year The Herald-News hosts a "Readers' Choice Award" contest ...This year's voting took place between the dates of September 10th to September 30th.    The winners in each of the award categories were published in the paper on Sunday, December 8, 2019. I am proud to say that this year's Herald-News "Readers' Choice Award" for "Best Will County Mortgage Broker" was bestowed upon me.     My entire career ... over 40 years ... has been spent serving those in Will County and the entire Chicagoland - IL/WI region in need of reliable, experienced and trustworthy lending information and service.    Having received this honor is humbling, rewarding, and greatly appreciated.   Thank you to al... 01/08/2020

  To all my friends and followers at ActiveRain ...    12/31/2019

 What Insurance Protections Might Be Needed During Mortgage Financing?  The buying and financing of a home can seem like a pretty detailed and confusing process at times.  As a result, it's vitally important that new buyers and those refinancing thoroughly understand the process they're entering and being asked to navigate prior to making decisions. As a Mortgage Lender, I've found that some of my clients are confused regarding different forms of insurance that they may be required to secure and hold while obtaining their financing.  The following is the information I share with my clients in  Chicagoland - IL/WI to assist them with their mortgage and insurance decisions.    The provided information covers an exploration of each form of insurance (and what protections it offers, etc.). ... 12/30/2019

  The next couple of days are extremely busy ... for me and I'm sure all of you too.  So I'm sharing my Thanksgiving wishes now in order to share them with as many as possible ...    11/26/2019

 WHAT are Transfer Taxes? HOW Much are They?   WHO Pays?  When I first speak with clients seeking information regarding mortgage financing, they're typically focused on 3 things: What Down Payment they will need What their Interest Rate will be Can they get Approved for a Mortgage  The answers to those questions are definitely needed and vitally important. But they are not questions quickly answered.  I must first obtain some information in order to be able to answer their questions credibly and reliably.  This includes information regarding their finances, debt, credit, savings and more.  As the needed info is shared and our conversation unfolds, questions go back and forth between us.  Much like a ping pong ball, the questions bounce back and forth quickly and fluidly providing each o... 10/30/2019

 2019 -  Halloween Safety Tips for Pets  The Halloween Season with all its scary costumes, parties, tasty treats, spooky decorations, and haunted homes are finally here ...  But sadly, potential dangers also arrive with it.  And that means we should be taking the time and making the effort to plan, prepare, and place safety precautions in place.     Those preparations, plans, and safety precautions should keep our furry friends in mind for this year's Halloween Trick-or-Treating hours and parties taking place too.   Please follow the important pet safety tips found on the informative flyer below ... that way we make sure that this year's Halloween celebrations remain memorable for all the right reasons.        Protect Your Furry Family Members:   Follow These Halloween Pet Safety Tips  ... 10/28/2019

  The Many "Species" of Student Loans & How They Can Affect Your Home Buying  Did you know that it is now thought that there are almost 18,000 bird species to be found across the world? A recent study released by the American Museum of Natural History revealed a new accounting ... one that almost doubled the number previously known and detailed by researchers.  This new larger number came as a surprise, as scientists have studied birds intently and been "birding" for a long time.  The new study also revealed that long-held beliefs and methods of scientific bird species classification were antiquated or wrong.  Scientists now believe there is a "hidden" diversity in bird species.  That birds can look similar and actually breed together, but actually be from different species altogether. ... 10/18/2019

  Trick-or-Treat Hours & Halloween  Safety Tips for New Lenox - 2019 The Halloween Season with all its outrageous costumes, fun parties, tasty treats, and outlandish decorations is finally here ...    Halloween Trick-or-Treat Hours for 2019 have been announced by the Village of New Lenox.  Halloween will be celebrated in New Lenox on: Thursday, October 31st 4:30 pm to 7:00 pm But it's a fact ... Halloween can be scarrrryyyy!   And danger and dangerous situations can lurk on Halloween.  Because of that, extra preparations, planning, and precautions are needed in order to ensure that  Halloween is memorable for all the right reasons.  Keeping safety and fun in mind, I put together a handy and helpful list of ideas and tips that will assist you in making sure your Halloween parties, celebr... 10/08/2019