Chicago Real Estate Market and Mortgage Blog

$100 Down Payment Initiative for HUD REO's

Cecelia Marlow (PanAmerican Mortgage, LLC) — Thu, 14 Aug 2008 23:00:14 -0500

Did you know that buyer's can buy a HUD REO with as little as $100 Earnest Money. This may be good news for some. The Atlanta Homeownership Center approved the use of this initiative for Illinois and Indiana for purchaser's using FHA financing. This is specifically geared towards Owner Occupants, effective date Oct. 5, 2007.

This incentive is not available unless it is presented on the executed contract presented to the closing agent. For more information visit www.hud.gov click on HUD Homes and choose your state to see if it is applicable there. This is a great incentive for Illinois and Indiana homebuyers! Happy Closings!

Need money for rehabbing the property check out my post on FHA $$$ for REO's & Bank Owned Properties. Simple process for everyday consumers.

Cecelia Marlow - www.ceceliaknowsmortgages.com

FHA $$$$ for REO's and Bank Owned Property that need work!

Cecelia Marlow (PanAmerican Mortgage, LLC) — Thu, 14 Aug 2008 22:16:45 -0500

As a professional one of the most important things we can do is stay abreast of the changing market and flow with the tide. The Chicago Real Estate Market, has become saturated with REO (Real Estate Owned) and Bank Owned Properties. However, many people that I talk to don't know how to get to optimal financing for these properties. With an FHA loan the property must be habitable and structurally sound. With a Conventional loan, the client needs at a minimum 5% down and most MI (Mortgage Insurance) Co., want to see 10% down and a sizable amount of reserves. Even if a buyer can qualify for a conventional mortgage, many don't have the liquid cash to do the work they would like. So, here's a solution for you.

FHA has a 203(K) Streamline loan that allows a buyer to purchase a property and get up to $35,000 for repairs and improvements. So why is this such a great loan product:

1. A borrower can still minimize the size of their down payment at only 3%, which can be a gift from a seller Down Payment Assistance program through Oct. 1, 2008.

2. The program can be used for 1-4 Family Single Residences; including HUD REO

3. The borrower can still choose a fixed or adjustable rate mortgage, and their are no increases to the rate to acquire the rehab money.

4. Their is only 1 closing.

5. The funds can be used to: Update the home (including appliances, windows, doors, roof, paint, gutters, and down spouts, upgrade to plumbing, electrical, HVAC, exterior decks and patios, etc.) This loan can even be used for MOLD REMEDIATION AND LEAD BASE PAINT STABILIZATION. Note the funds can not be used for structural or foundational corrections.

6. A general contractor / consultant is NOT needed.

This is a great loan and should help move a lot of inventory that is currently sitting on the market.

For more information or assistance please visit me at www.ceceliaknowsmortgages.com

Hope this was helpful!

Special Government Financing Available for this New Construction 'n Chicago!

Cecelia Marlow (PanAmerican Mortgage, LLC) — Fri, 30 May 2008 14:08:44 -0500

Cecelia Marlow | PanAmerican Mortgage, LLC | 773-782-6000

647 W 115th St, Chicago, IL

Stunning New Construction - Open House May 31st! See You There!

4BR/3BA Single Family House

offered at $275,000

Year Built	2008
Sq Footage	2,400
Bedrooms	4
Bathrooms	3 full, 0 partial
Floors	Unspecified
Parking	Unspecified
Lot Size	3,049 sqft
HOA/Maint	$0 per month

DESCRIPTION

OPEN HOUSE SATURDAY MAY 31st 1-4 !!!!

Bring your most picky client to view this New Construction beauty! Giveaways,Free Credit & Design Consultations. Flat Screen TV at closing to buyer who writes contract on spot. 4 Bedrooms, 3.5 baths, Granite counter in Kitchen and bathroom, stainless steel appliances, spacious family room, hardwood floors, crown molding, finished basement, washer and dryer, deck off the kitchen, fireplace, skylights in the bathroom and so much more. You have to see this to believe it!

see additional photos below

PROPERTY FEATURES

Fireplace	Hardwood floor	Family room
Granite countertop	Stainless steel appliances	Basement
Washer	Dryer	Balcony, Deck, or Patio

ADDITIONAL PHOTOS

Seller contact info:

Cecelia Marlow

PanAmerican Mortgage, LLC

773-782-6000

For sale by agent/broker

Equal Opportunity Housing

Posted: May 30, 2008, 10:04am PDT

For Sale By Owner ! Buy or Rent To Own! Chicago - Joliet

Cecelia Marlow (PanAmerican Mortgage, LLC) — Fri, 30 May 2008 13:29:07 -0500

Cecelia Marlow | PanAmerican Mortgage, LLC | 773-782-6000

814 Cochrane, Joliet, IL

Seller Credit Towards Down Payment....Call Today!

3BR/2BA Single Family House

offered at $169,923

Year Built	Unspecified
Sq Footage	Unspecified
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	Unspecified
Parking	2 Car garage
Lot Size	Unspecified
HOA/Maint	$0 per month

DESCRIPTION

Beautifully rehabbed property available FOR SALE or RENT TO OWN! New Kitchen and New Roof! You'll love the finished basement for entertaining, complete with a pool table, wet bar, and fireplace. Close to I-80 and priced to sale! Rent includes $150 per month towards down payment. One month rent and one month security to move in today! For pictures visit www.ceceliaknowsmortgages.com

see additional photos below

PROPERTY FEATURES

Central A/C	Fireplace	Living room
Dining room	Dishwasher	Refrigerator
Stove/Oven	Microwave	Basement
Washer	Dryer

Seller contact info:

Cecelia Marlow

PanAmerican Mortgage, LLC

773-782-6000

For sale by agent/broker

Equal Opportunity Housing

Posted: May 28, 2008, 4:31pm PDT

Help!!!! My Credit Score Sucks!

Cecelia Marlow (PanAmerican Mortgage, LLC) — Thu, 27 Mar 2008 22:01:42 -0500

In today's credit driven society, it is imperative that we begin to understand and leverage one of our most personal assets, "Credit." In short, your personal credit score is a key component used to determine if you are a good risk to lending institutions. Moreover, it will determine how much you will pay for items you finance, including a new home, an auto, and even insurance premiums for these items. However, credit is also a factor in determining your career options, and the ability one will have in pursuing career aspirations in any kind of financial service related field. In this article, you will find a general overview of how your credit score is determined, as well as, a few things you can do today to begin increasing your credit score.

Let's start with the basics. There are three major credit institutions: Experian, Equifax, and Trans Union. These three bureaus, as they are commonly referred to, compile your credit score from various creditors that you do business. Credit scores range from 300-850. In general, the higher your credit scores the better. Credit scores below 600 will generally make it more difficult for you obtain credit with decent interest rates, while credit scores above 720 are welcome just about anywhere.

So, how is your credit score configured? I'm glad you asked.

There are 5 categories that lenders look at to determine if you are a good risk.

Payment History: Paying your bills on time accounts for 35% of your credit score.
Amounts Owed: 30% of your credit score is determined by how much you actually owe in relationship to the limit the creditor has given you.
Length of Credit History: 15% of your credit score is determined by long you have had a credit profile.
Type of Credit: 10% of your credit score is based on new credit that you have applied for.
Types of Credit Used: 10 % of your credit score is based on the types of credit that you use, the better the mix of credit used, the better your credit score. Ex. Someone with a credit card, an auto loan, and a mortgage, will generally have a higher score than someone who only has 2 credit cards.

Hot Tips To Increase Your Credit Score!

So many times I am asked, "If I have had credit challenges in the past, what can I do to boost my score now?" Here are a few things that you can begin doing today to improve your credit score.

Create a budget and put in on your refrigerator. There is a study that shows you are 50% more likely to accomplish a goal if you just write it down. Your budget is like your roadmap. It helps you see exactly what you have coming in and what you have going out. It also can you determine if there are areas in your life where you are splurging excessively. This extra money can be used in the following steps. If you need a simple easy to use form, simply e-mail me and I can send it over to you.
Get a copy of your credit report. You can visit http://www.annualcreditreport.com/ for one free copy of your credit report annually. I typically suggest that my clients do this at the beginning of each year to make sure that their identity has not been tampered with and to make sure everything on the report is accurate. Also, once you have a copy of your report you can begin to put a plan together to eliminate your debt.
Because 35% of your credit score is based on making timely payments, please do so. This is critical. If you lose a job, or have some other extenuating circumstance, call your creditors, many times they will make arrangements with you and will not report you as being delinquent unless you don't keep up with the new arrangements that have been put in place.
Keep your balances less than 30% of the credit limit that you have been granted, ie. If you have a credit card with a limit of $1,000, keeping the balance at less than $300 will optimize your credit score.
Don't close old, unused accounts, unless you have a lot of them. The older the accounts are the more stable your credit profile looks and this also adds to your credit score. Typically you don't want to have more than 3 credit cards as a rule of thumb. Also, new credit accounts under a year will typically hurt your score and accounts older than 2 years will boost it.
Finally, dispute any inaccuracies. At http://www.annualcreditreport.com/ you can also dispute inaccuracies that you find right online. Typically companies have 45-60 days to affirm any disputes in writing or they must by law take it off of your report. Inaccuracies can consist of old address', old employers, as well as creditors that have been paid off, or creditors who reflect the wrong amounts old. Remember, if they can't prove it, it must be taken off.

Your credit is one of your most precious assets. If you have had credit challenges in the past, it is never too late to begin changing your situation. The life you live today is based on the choices you made yesterday. So, please, make great choices today so you can live great tomorrow. I hope you have found this information to be useful. If you have any other questions or comments, please feel free to contact me at cmarlow@panamlending.com or visit my website at http://www.ceceliaknowsmortgages.com/

Cecelia Marlow

Senior Mortgage Consutlant

PanAmerican Mortgage, LLC

How Much Home Can You Afford?

Cecelia Marlow (PanAmerican Mortgage, LLC) — Sun, 09 Mar 2008 22:17:01 -0500

How Much Home Can You Afford?

The single most important part of buying a house is figuring out how much you can realistically afford to pay.You'll have to take a good look at your budget, debts, credit reports, and credit score. Once you have a good picture of your financial status, start saving as much money as you can for a down payment, closing costs and other extra expenses that come along with buying a house. Extra expenses could include paying for a home inspection (around $300 - $500 depending on where you live) or hiring a moving company after the sale is final. Other things that you will want to consider are the appraisal which could range from ($300 - $450) depending on your market; Earnest money generally $1,000 in the Chicago Metropolitan Real Estate market depending on the price of the home.

Depending on the condition of your finances -- if you have a lot of debt, errors on your credit report, or a low credit score -- getting ready financially could take six to 12 months or more! If your credit score falls below 620, lenders may see you as a risky borrower. This might mean you will need to work on your credit and possibly consider other options, such as Renting with an option to buy. It might be worth your time to take a year and work on building a better credit report before taking on the responsibility of a mortgage. Also, if you qualify for a lower interest rate you could save thousands of dollars over the life of the loan.

Determining a Mortgage You Can Live With
There are a few basic formulas commonly used by lenders to determine how much of a mortgage you can reasonably afford. These formulas are called qualifying ratios because they estimate the amount of money you should spend on mortgage payments in relation to your income and other expenses. It is important to remember that these ratios may vary from lender to lender and each application is handled on an individual basis, so the guidelines are just that - guidelines.

Generally speaking, to qualify for conventional loans, housing expenses should not exceed 26 to 28 percent of your gross monthly income. Monthly housing costs include the mortgage principal, interest, taxes and insurance. For example, if your annual income is $30,000, your gross monthly income is $2,500, and $2,500 x 28 percent = $700. So you would probably qualify for a conventional home loan that requires monthly payments of $700.

For more information on pre-qualification and owning a home of your own, please visit my website!

Cecelia Marlow - PanAmerican Mortgage, LLC

www.ceceliaknowsmortgages.com

Oprah's New Book Pick 3.5 Million Sold!!!!

Cecelia Marlow (PanAmerican Mortgage, LLC) — Thu, 28 Feb 2008 23:31:09 -0600

I'm not sure if any of you have read Eckhart Tolle's book, A New Earth, but it is climbing the charts fast. 3.5 Million copies have been sold thus far. Being a Chicago native I have to say that I love the positive impact that Oprah is having on the world and in millions of people's lives. If you've read her new book pick please share your thoughts with me. It is reported as the fastest selling book ever at Barnes and Nobles. She is also offering an online course for 10 weeks which sounds pretty cool too! I am just wondering, what would it take to create that kind of buzz for the positive around the Real Estate market? Any thoughts? Anyway, this is just a fun post! Not heavy or serious! Thought you could use that right about now! Please share your thoughts!

Cecelia Marlow - Senior Mortgage Consultant - PanAmerican Mortgage

www.ceceliaknowsmortgages.com

Electric Bill Credit Disbursement! Have You Heard?

Cecelia Marlow (PanAmerican Mortgage, LLC) — Thu, 28 Feb 2008 22:06:37 -0600

I received a great e-mail today from a fellow Realtor partner that I thought I would pass along to anyone who was interested. If you were an active ComEd (CommonWealth Edison) customer in 2007 between January 1st and August 31st you can apply for the lump sum General Assembly Rate Relief Credit. It appears that this is an effort to help customers who are now experiencing new rates that took effect in January in Illinois. There is a form that needs to be filled out and sent in from the primary account holder. If you are eligible the form states that you will receive a check in the amount of your credit within 45 to 60 days from receipt of the form. So, if you are in Illinois, why not take advantage of possible getting some relief. If you would like more information, please visit my website www.ceceliaknowsmortgages.com go to the about me link and put in your information, please leave an email address and I will forward the form to you. Be sure to check out all the other great information that is there as well. Featured Listings, Buyer and Seller Tips, Mortgage information! By all means, pass on this information to others you know! Thanks for stopping by!

Cecelia Marlow - PanAmerican Mortgage, LLC -773-782-6000 / 1-800-724-7001

100 New Prospects in Less than 5 Days!!!!!

Cecelia Marlow (PanAmerican Mortgage, LLC) — Wed, 27 Feb 2008 21:36:05 -0600

This post is just to give hope to everyone in the business and to the media and to those who think the Real Estate Market is dead and to the buyers who are still waiting! I am in the Chicago Real Estate Market and decided to think outside the box a little bit. I kept reading how mortgage applications were down and how even though interest rates were low, people still aren't biting. So, I thought I would share a marketing strategy with you to help you generate some business both on the Real Estate Sales side as well as the Mortgage side. I decided to run a newspaper ad in the Chicago Sun-Times for individuals who were looking to Rent To Own (Rent with an option to buy). I run the ad from Friday of one week to Sunday of the next week (10 days). Within 5 days of running the ad, I have had 100 callers to call in, about 30% left messages, and the other 70% I have their number through the call capture 800# I purchased years ago and wasn't getting much utility from. I am pleased with my results as 1 of the prospects has already paid for the cost of the ad 10x's and the other leads will go through a Rent to Own Program that I have partnered with a Realtor to complete. If you haven't used classified ads, this is definately an opportunity for you to grow your business. If you are a buyer who is on the fence, please look into this program. For more information please feel free to visit my website www.ceceliaknowsmortgages.com My pipeline is now growing and my Realtors love me for being able to send them referrals. If you'd like more info on how myself and the Realtor partner on this program please feel free to contact me. Just thought I would share some valuable tips to get your phones ringing again!

Cecelia Marlow - Senior Mortgage Consultant - 1-800-724-7001

Chicago Real Estate for Under $150K

Cecelia Marlow (PanAmerican Mortgage, LLC) — Wed, 13 Feb 2008 01:23:30 -0600

These are some of the best deals around. For pictures and more information please visit Cecelia Knows Mortgages

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1. $75,000: Unbelievable opportunity. Single family in the front and a 2-unit back coach house. 4 bedrooms, 2 baths plus 6 rooms in the rear cottage. New construction all around. Don't miss this great opportunity.

2. $75,000: Charming 4 bedroom, 2 bath brick Cape Cod with lots of recent work done. Wide lot with big fenced back yard. Most walls redone & repainted. Some newer windows. 2 blocks to Chicago Lawn or Auburn Gresham. Lots of pride of ownership in this pocket. Eat-in kitchen & dining room. Dining room could be a bedroom or den. Extra bedroom in basement.

3. $84,000: Spacious 5-bedroom, 2-bathroom home. Large kitchen. Sunny enclosed front porch. Remodeled with new siding and windows. Lovely home.

4. $109,000: Large 3 bedroom, 1.5 bath brick bungalow with partially finished basement, Walk-in closets in all bedrooms. Enclosed porch off kitchen, hardwood floors under carpet.

5. $114,900: Spacious 3 bedroom brick Cape Cod on low traffic street. Down the block from brand new upscale subdivision under construction. Walk to Marquette Park! Huge living room/dining room combo. Main level 2nd dining room or den! Finished basement, huge utility room. Attic storage. nice rear porch. Fenced yard. Hardwood floors.
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These are some of the best deals around. For pictures and more information please visit Cecelia Knows Mortgages
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6. $117,500: Super sharp, completely rehabbed 5 bedroom, 1.5 bath brick split level. Everything here is already done. New carpeting ceramic tiles in both baths and kitchen. Also, there is a new wrought iron fence. Close to transportation and downtown.

7. $124,872: Very well-maintained 5 bedroom, 2.5 bath 2-flat located less than 1-mile from lakefront. Newly sided, recently remodeled building has separate 7-year-old furnaces and water heaters. Newer Thermopane windows throughout. Both kitchens are updated with oak cabinets. Main floor is combined with upper floor to make one large unit. Enclosed back porch. Large yard with apron for future garage. Brand new security fence in front.

8. $124,900: 4 bedroom, 1.5 bath tri-level home with hardwood floors under carpet. Large backyard. Lower windows and doors with security bars. Wrought iron fence with lock around front yard on quiet street.

9. $125,000: Solid brick 4 bedroom, 2 bath Cape Cod home with hardwood floors, garage and central air. Eat-in kitchen, large rooms. Great value.

10. $139,900: South Shore 3 bedroom, 2 bath brick bungalow. This is one of chicago's oversized bungalows with a spacious floor plan. 3 bedrooms on main level, full finished basement. Eat-in kitchen, central air, fireplace and so much more.

These are some of the best deals around. For pictures and more information please visit Cecelia Knows Mortgages

Cecelia Marlow - PanAmerican Mortgage, LLC

Is Your Mortgage Professional Really a Professional?

Cecelia Marlow (PanAmerican Mortgage, LLC) — Wed, 13 Feb 2008 01:16:59 -0600

In today's ever changing market it is extremely important that buyer's and realtors work with a MORTGAGE PROFESSIONAL! I can't begin to tell you how many times I get a disgruntled client on the phone who has been through numerous originators who call themselves professionals. This post is not to bash those of us who are out there working and really making sure our clients have the best service possible. However, it is to give those who are looking to build new relationships and buyer's looking to purchase a home or investment a few tips, so here they are:

1. Ask questions! Professionals don't get irritated with questions, they want you to feel as comfortable with the process on the front end, so they have less too worry about at the closing.

2. Get to know your loan officer.

3. Find out when their office hours are. I know this may sound simple, however, would you frequent your local store if you didn't know what time they opened and closed. I also hear horror stories about Loan Officer's who can never be reached.

4. Take the time to understand your GFE (Good Faith Estimate). Ask the questions. If you can't get answers about this important form, God Help You!

5. Work with people you like and trust!

For more information on available loan programs and Featured Properties in the Chicago Market visit: www.ceceliaknowsmortgages.com

Cecelia Marlow - Senior Mortgage Consultant - PanAmerican Mortgage,LLC

Low Interest Rates....Massive Inventory! Win-Win for Buyers! Pt.1

Cecelia Marlow (PanAmerican Mortgage, LLC) — Wed, 06 Feb 2008 16:09:20 -0600

If you have thought about purchasing a home or are contemplating a move soon, now may be a good time to get the process rolling. Although the media is constantly talking about "The Mortgage Meltdown" and "Increasing Foreclosures" what they have failed to say is who this market actually benefits, so let me help them out.

We are currently experiencing mortgage rates at an all time low! This means that as opposed to one to two year's ago, buyers have the opportunity to save ten's of thousands if not hundred's of thousands of dollars on the life of their loan for the same exact house. In addition to that, because foreclosures are at a peak, it is causing the values of certain areas to drop, meaning, homes are now on CLEARANCE! The average home in Chicago - Napervile - Joliet area as reported by the National Association of Realtors in the 3rd Quarter of 2007 was right around $240,000. Increased foreclosures have essentially given buyers a real opportunity.

So, don't be fooled. It's a great time to buy! It's a great time to refinance! Why pay 7.5% interest when rates are starting at 5.25% fixed? Why pay $300K, when the market is giving you an opportunity to pay less? At the end of the day you get to choose! But please choose wisely! Your future depends on it. For more information on buying, selling, or refinancing a home feel free to visit www.ceceliaknowsmortgages.com The Buyer / Sellers Vault. There is tons of free information to help you make informed choices. Happy House Hunting!

Cecelia Marlow - Senior Mortgage Consultant - PanAmerican Mortgage

Trying to Figure Out Widgets HELP!!!

Cecelia Marlow (PanAmerican Mortgage, LLC) — Tue, 05 Feb 2008 21:08:36 -0600

Hello all, So I have been reading up on really having this blogging work for me. Thank you so much to all the great content that is here. This is a test to see if I am actually posting the right stuff in the right place to track my statistics. Please help if you all have anymore insights! Thanks! Cecelia Marlow Senior Mortgage Consultant PanAmerican Mortgage, LLC www.ceceliaknowsmortgages.com

New Construction Bronzeville!

Cecelia Marlow (PanAmerican Mortgage, LLC) — Tue, 05 Feb 2008 00:12:44 -0600

Bronzeville Real Estate for Sale!

Location: Bronzeville

NEW CONDO CONVERSION IN BRONZEVILLE AT GREAT PRICES!

TWO AND THREE BEDROOM WITH TWO BATHS STARTING AT $185,000

This is one of the best conversions in Bronzeville. These units are large with luxury appointments.

Sun Rooms, Stone Fireplace, Surround Sound, Hardwood Floors, Separate Showers in the Master Bathroom. Central Air, Large Deck, Secured Parking, High Ceilings with Crown Molding and Custom Paint. Fabulous Kitchen with Ceramic Backsplash, Disposal and Stainless Steel Appliances. Separate Laundry Room in the unit and a walk-in pantry.

YOU HAVE TO SEE TO BELIEVE!!!

Photo Gallery

Information

Contact Information

Cecelia Marlow

773-782-6000

Pricing

Asking Price: $215,000

Property Location

4843 S Prairie - Unit 1
Chicago, IL 60615

Links

Free Buyer Reports

Features

Bedrooms: 2

Bathrooms: 2

Parking: 1 Space

Year Built: 2007

Agent Name: Linda Lamb

Broker: Keller Williams

Attributes

Appliances

Sink Disposal

Interior Amenities

Fireplace

Hardwood Floors

Building Amenities

Fenced Yard

EQUAL HOUSING OPPORTUNITY

VFLYER ID: 1474374

Elegant South Loop Townhome!

Cecelia Marlow (PanAmerican Mortgage, LLC) — Tue, 05 Feb 2008 00:06:44 -0600

South Loop Townhome

Location: South Loop

Fabulous 4-level townhouse is nestled in a quiet community walking distance from major attractions. Newly remodeled with 3-bedrooms, 2.1 baths, sunken living room with corner fireplace, formal dining room, eat-in kitchen with stainless steel appliances, and a step-down family room. Other features include a beautiful gated patio, and an over-sized garage, and a private deck off the master bath.

Photo Gallery

Information

Contact Information

Cecelia Marlow

773-782-6000

Pricing

Asking Price: $709,000

Property Location

1478H So. Prairie
Chicago, IL 60605

Links

Free Buyer Reports

Features

Bedrooms: 3

Bathrooms: 2.1

Square Footage: 2600

Agent Name: Shaunessye Curry

Broker: Supreme Manor Services

Attributes

Appliances

Stainless Steel Appliances

Interior Amenities

Fireplace

Eat in Kitchen

Exterior Amenities

Patio

Fenced Yard

Grass Lawn

EQUAL HOUSING OPPORTUNITY

VFLYER ID: 1474380

Looking for New Construction in South Shore?

Cecelia Marlow (PanAmerican Mortgage, LLC) — Mon, 04 Feb 2008 23:53:06 -0600

Signature Estates South Shore!

Location: South Shore

New Construction! This featured south shore property boasts of all the amenities you are looking for and more! Two Story Full Finished Basement. Laundry Room, wine storage, skylights, double oven, deck, garden area, beautifully landscaped! Extra features include, balcony, garage door opener, tv security and intercom! You must see this beautiful home! Call today to arrange for a showing!

Photo Gallery

Information

Contact Information

Cecelia Marlow

773-782-6000

Pricing

Asking Price: $450,000

Property Location

8019 S Constance
Chicago, IL 60649

Links

Free Buyer & Seller Tips

Features

Bedrooms: 5

Bathrooms: 3

Year Built: 2007

Lot Size: 35 x 150

Garage Size: 3

Square Footage: 3000

Agent Name: Annette Dewberry

Broker: Supreme Manor Services

Attributes

Appliances

Full Refrigerator

Dishwasher

Sink Disposal

Microwave

Interior Amenities

Fireplace

Hardwood Floors

Wet Bar

Security System

Basement

Exterior Amenities

Fenced Yard

EQUAL HOUSING OPPORTUNITY

VFLYER ID: 1474364

A Business Lesson Courtesy of Super Tuesday......

Cecelia Marlow (PanAmerican Mortgage, LLC) — Mon, 04 Feb 2008 21:58:32 -0600

On the eve of Super Tuesday I am reflecting on what we can learn from this year's political process and implement in our business. What if WE could really change the perception of our industry NOW! What if we could get the message out that REAL ESTATE IS ON CLEARANCE! What if our phones were ringing off the hook and we had to hire another assistant because there was so much business walking in the door due to low interest rates! I know we can the question is will we......... Here are a few things that may move us closer!

1. Be Courageous: It takes courage to enter this business and it takes more courage to stay in this business.

2. Have a Mission and Enroll Other's In It: The candidates have all given us their reasons why we should choose each and everyone of them. Do we give our clients the same courtesy?

3. Be persistent and consistent: Our consistency gives us staying power in this business just as our persistency does.

4. Invest in what you believe in: If you truly believe in your business make an investment in it. That means time and money.

5. Create a team: One of the most important things I belive we can learn from the politcal process this year is that the candidates haven't done this all by themselves. They have teams EVERYWHERE! What if you could have people so inspired by your work that they were making calls for you, telling everyone they knew about you, even contributing to make sure other's knew who you were!

It takes information and inspiration to change the world! Click Here to See Inspiration and what I mean!

Cecelia Marlow - Senior Mortgage Consultant - PanAmerican Mortgage, LLC 773-782-6000

www.ceceliaknowsmortgages.com

www.blogtalkradio.com/ceceliaknowsmortgages

Here we go again.....FICO & The New Credit Scoring Model

Cecelia Marlow (PanAmerican Mortgage, LLC) — Sat, 02 Feb 2008 23:25:34 -0600

Back in June a new credit scoring model was announced, but the rollout date was not supposed to be finalized for sometime. It's looks like we are quickly approaching that time and here's what we know thus far.

1. Scores will still range from 300 to 850.

2. It will still take into account the same factors as before, such as timely payment history, length of credit history, amount of debt, and ratio of debt available to credit.

3. The big changes include: Authorized User's. An individual will no longer get credit (receive an increase) in their own credit score as the result of being an authorized user.

4. Some will see a slightly higher score if they have minor blemishes, ie. one late payment, whereas before they were severly penalized for this. Other's who have consistent blemishes, may see a drop in their score.

5. The new model will also score based on the credit mix or blend. So, a person who has a mortgage loan, an auto loan and credit cards, will fare better than someone who only has credit cards.

There are both pro's and con's to this new model. But it just goes to show that the industry is ever changing. If you're always ready, you don't have to get ready. Prepare now for the upcoming changes.

Cecelia Marlow - Senior Mortgage Consultant - PanAmerican Mortgage, LLC (773)782-6000

www.ceceliaknowsmortgages.com

www.blogtalkradio.com/ceceliaknowsmortgages

Foreclosure.....HELP!

Cecelia Marlow (PanAmerican Mortgage, LLC) — Fri, 01 Feb 2008 15:25:01 -0600

"5 Ways to Save You or Someone You Know from Foreclosure, w/o getting scammed!"

Problem: In 2007, homes in foreclosure were up 79% an alarming rate.

Reality: This is such a personal tragedy, that many people don't reach out for help until it's too late, and then they don't know where to look, if they don't just give up at all.

Invitation: GET HELP! Don't lose such a valuable asset that you have worked so hard to achieve.

Solutions:

Start with your mortgage company. Most lender's DO NOT want your home, is too costly for them. They have work out options available.
Ask a family member to purchase the house from you until you are back on your feet. This can sometimes help give you a fresh start.
Seek professional advice. If you are too far behind to actually do a work out, there are programs that were initiated in 2007 through the Federal Housing Administration (FHA) to help troubled homeowners. Call a mortgage lender and ask about FHA Secure.
Call a Realtor. If you are ready to walk away from the headache of the process. Please do not walk away empty handed. Sell the house. It's better sell than to have a foreclosure on your credit report. Seek a specialist in the area
Short Sale from the bank. Many banks will allow you to sell the house for a less than what you owe. However, you need to work with an experienced, Realtor, Atty, Mortgage Broker, or Real Estate Investor to help you negotiate this kind of transaction. Preferably, someone who is very familiar with this process and does this for a living.

Unfortunately, there are unscrupulous individuals in the industry, so what should you do to avoid them.

Ask for referrals, ask your family members, friends, co-workers, church members if they have any real estate professionals that they trust and respect that they could refer you to. You do not have to go into details about your personal situation. Just let them know you are shopping around.
Go on the internet and do your research about companies.
Trust your intuition. "The Gift of Fear" sometimes your intuition is the best guide that you can listen to. If it feels right and sounds right move forward. If it doesn't run the other way as quickly as possible.

This is a very serious and emotional time for homeowners. Protect your most valuable asset, YOU!

Cecelia Marlow - Senior Mortgage Consultant - PanAmerican Mortgage, LLC (773-782-6000)

www.ceceliaknowsmortgages.com

www.blogtalkradion.com/ceceliaknowsmortgages

Turning Denied Loans into Pipeline Customers for Life! The Power of RTO!

Cecelia Marlow (PanAmerican Mortgage, LLC) — Tue, 15 Jan 2008 23:38:13 -0600

A couple of years ago, I started a Rent to Own program for individuals who truly wanted to purchase but for one reason or another were not in an optimal financial position to at the time. Well, the response was so overwhelming at the time, that I discontinued the program, outside of the clients that I was currently working with. I have revisited it this year as a marketing strategy and it is going great. Here are a few key things I wanted to share with you!

1. Create a Power Team: Realtor, Mortgage Broker, Credit Repair Specialist, Atty's, & Investors ( Your team will assist you with having a successful process from beginning to end)

2. Create a System: The current system my team and I are using is the same as it would be for a traditional purchase. The client starts with me(Mortgage Broker) I assess credit, assets, and income, I then qualify them based on their current income. They then move to the Realtor and the Realtor creates searches that will fit their qualifying numbers. They must then enroll in a credit restoration process so that at the end of the lease, they are actually in a position to purchase. As the Realtor you will be paid a commission on the rental and the sale. As the LO, you ensure that you are in business one year from now!

3. Stay in communication: There's nothing worse than a client who has no options. Learn to add value. Just because a client can't purchase now, doesn't mean he or she will never purchase, if you invest a little time upfront they will be loyal to you in the end. That's what I call a client for life.

4. Run an Ad: I ran an ad in the newspaper for two weeks and my phone was ringing off the hook, over 200 calls!!!!! I'm busy, so I have to go, but I thought I would share!

Let me know what you think!

Cecelia Marlow - PanAmerican Mortgage, LLC - Senior Mortgage Consultant

Free Internet Radio Show Available!

Cecelia Marlow (PanAmerican Mortgage, LLC) — Tue, 15 Jan 2008 23:22:45 -0600

Hello All,

I completed my 1st Internet Radio show and it was a blast. If you'd like to listen to a rebroadcast you can go to www.blogtalkradio.com/ceceliaknowsmortgages You can also create your own show for FREE! Why this is a great opportunity!

1. Free Exposure

2. Opportunity to reach a broad base of listeners via the web.

3. Did I mention it's FREE!!!!

You can create your own segments, have guest experts, talk about programs, the homebuying process, credit, whatever you like!!!! This is a great opportunity to add value to your existing database and stay in front of your peers and professional partners. Shows can be hosted for 15 minutes up to 2 hours, you get to choose. You also get to choose the frequency, once a week or once a year. Just an idea I wanted to share. Have fun!

Cecelia Marlow - Senior Mortgage Consultant -PanAmerican Mortgage, LLC

New Internet Radio Show Today!: Building Wealth Through Real Estate

Cecelia Marlow (PanAmerican Mortgage, LLC) — Wed, 09 Jan 2008 09:26:45 -0600

I want to invite you to listen in on my talk show.Yes,you heard that right, I have my own talk show. Get all the juicy details about it by clicking on the following link www.blogtalkradio.com/ceceliaknowsmortgages
Show starts at 11am CST

Cecelia Marlow - Senior Mortgage Consultant

READ THIS NOW!! 5 Secrets to Exploding Your Marketing Efforts.....

Cecelia Marlow (PanAmerican Mortgage, LLC) — Sat, 08 Dec 2007 13:53:17 -0600

Well if you're reading this then I may be on to something here. Here are 5 Secrets to help you Explode your marketing efforts!

1. Solve a problem: At any given time we all have hundreds of thousands of things going through our minds. Many times without our conscious mind knowing our subconscious is trying to solve a problem. If our marketing can demonstrate the ability to solve a problem, that is the first key to getting someone's attention.

2. 80-90% of your time should be spent on the headline. If your headline doesn't get attention, the rest of your marketing will never be read.

3. Promote Benefits: "STOP RENTING FOREVER!!!" that's a lot different from "1st Time Homebuyer" The benefit of not renting ever again, is more emotionally charging than becoming a first time homebuyer.

4. Make an offer: Give the reader an opportunity to receive a free report, once they have requested the information from you, you now have their permission to continue your marketing efforts to them directly.

5. Have a Call to Action: This article started with "READ NOW!" and here you are. Be sure make a request with all of your marketing efforts. This is how we increase our conversion ratio's

I hope you've enjoyed this! Please feel free to let me know what you think!

Cecelia Marlow - Senior Mortgage Consultant -773-782-6000