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oswego il real estate: Do I Qualify for a Short Sale on my Naperville or Plainfield Home? - 08/14/08 09:12 PM
Do I qualify for a Short Sale? Do You....
Owe more on your Naperville or Plainfield area property than what you could sell it for, especially after real estate commission, closing costs, late payments, interest, etc? Have difficulty covering your expenses each month? Not have money in the bank to cover the difference of what you could sell your house for and what you owe the bank? Are You Having Trouble Making The Payments? Are You....
Feeling the stress mounting with each missed payment and phone call from your bank? Have difficulty covering your expenses each month? Getting confused as … (0 comments)
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oswego il real estate: Naperville IL, Plainfield Illinois Real Estate - Should you buy a home in today's market? - 06/26/08 10:01 AM
Should You Buy a Home in Today's Market? Before we start, let us give you one reason to not buy a new home right now.
How long do you intend to live there?
A rule of thumb is that it rarely makes sense to buy if you expect to move within two years. That's because when you do sell, there are costs associated with selling. We're not just talking about sales commissions to the buying and selling real estate brokers. Most owners rely on home appreciation to pay those costs and to provide the down payment and closing costs when they buy … (1 comments)
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oswego il real estate: How To Stop ID Theft - Naperville, Plainfield IL. Real Estate - 06/02/08 10:23 AM
Consumers are proving they can turn back time on identity theft by following a prescribed program of diligent document protection and criminal deterrence.A well-measured program of preventive steps can protect your identity from theft.ID theft-related fraud fell by 12 percent in 2007 and 300,000 fewer adults were victims, according to the latest from Javelin Strategy & Research, the longest-running ID theft study in the nation.At the top of the list of reasons for the decline is "greater consumer vigilance and awareness," according to the report.When someone steals your identity, you don't wander around aimlessly like some John or Jane Doe. Someone … (1 comments)
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oswego il real estate: Senate Takes On Mortgage Walk-Away - Plainfield, Naperville IL. Real Estate - 06/02/08 10:21 AM
Recently came across this information thought some of you might find it interesting.
The Senate Banking Committee has just passed the Federal Housing Finance Regulatory Reform Act of 2008 by an overwhelming and bipartisan vote of 19-2.
Buried in the proposed legislation is something new and revolutionary, an effort to stop mortgage walk-aways.
Walk-aways arise when a borrower can no longer make monthly mortgage payments or sell the property. Rather than wait for foreclosure, the borrower simply sends the keys back to the lender. This is not a minor matter. Fitch Ratings reports that "the apparent willingness of borrowers to 'walk … (2 comments)
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oswego il real estate: Plainfield IL, Naperville Illinois Real Estate - Aurora Townhome - 3 Bedroom, 3 Bathroom in Oswego School District 308 - 04/30/08 08:55 AM
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oswego il real estate: Plainfield IL, Naperville Illinois Real Estate - Why selling now makes sense - 04/29/08 10:01 AM
Why selling now makes sense
Homeowners reluctant to sell because prices have fallen should do the math and realize that the market downturn could work in their favor."People are finding houses at prices they thought they'd never see again," I would like to point out that to potential sellers that if the house a buyer covets used to be $500,000 but its price has fallen 20 percent to $400,000, it is a deal, even if the buyer's own home also has lost 20 percent of its value.In general, the toughest will be for people who bought within the last three years, at … (0 comments)
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oswego il real estate: Plainfield IL, Naperville Illinois Real Estate - Short sale advantages - 04/07/08 01:16 PM
Short Sale Advantages:1. Short sales appear on your credit report as "pre-foreclosure in redemption", not as "debt discharged due to foreclosure"2. Less impact on your credit score
About the author:
Cheryl Bowers is a Chicagoland Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Plainfield, Naperville, Aurora Illinois or any place in the country. Cheryl has created a team of professionals throughout the Chicago suburbs to ensure that you enjoy a smooth transition to your new area. Please visit http://www.cherylbowers.com/ for your real estate needs. Please give me a call if … (0 comments)
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oswego il real estate: Plainfield IL, Naperville Illinois Real Estate - Top 10 Short Sale Questions Answered - 04/04/08 05:57 AM
Top Ten Short Sale Questions Answered
Number 10
I can't make my house payments, but I do have an ability to pay back all or part of the negative equity. Also, I want to preserve my credit score...is a short sale right for me?
Probably, not. In cases where the seller can pay back all or part of the negative equity (usually to the 2nd lien holder), it makes sense for them to work out a repayment plan. The lender will then release the lien and allow the home to close.
Number 9
If I pay mortgage insurance and default on my loan, why wouldn't … (0 comments)
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oswego il real estate: Plainfield IL, Naperville Illinois Real Estate - Getting a loan in a tight credit market - 03/27/08 12:09 PM
How to get a loan in a tight credit market.
While there is home financing available for people with good credit, the options are fewer if your credit score is less than stellar. If someone has a credit score below 680, they will pay more private mortgage insurance on loans above 80 percent LTV. Below 620 it's going to be extremely difficult. Mortgage insurance companies that typically do loans for people with lower credit scores aren't offering it without extremely high monthly premiums. If the client has face-to-face counseling, most mortgage insurance companies will lower the cost of private mortgage insurance … (0 comments)
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oswego il real estate: Plainfield IL, Naperville Illinois Real Estate - Larger Loan Amounts, Lower Interest Rates - 03/27/08 09:31 AM
Larger Loan Amounts. Lower Interest Rates.Now Available On FHA Loans.
Good news! Qualified customers can now borrow loan amounts from $417,000 and up to $729,750 without paying a typically higher jumbo interest rate. The new FHA loan amounts are only available in certain metropolitan areas.
That means, for a limited time, purchasing or refinancing a home:
• Is more possible• For more people• In more metropolitan areas.
If you've been waiting for a better time to explore your options -it's here!
Get More Details Right AwayFind out soon if one of our government-insured FHA loans is right for you. Contact me today for a free no … (0 comments)
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oswego il real estate: Plainfield IL., Naperville Illinois - Motorcycle Awareness Test - 03/23/08 09:07 AM
My dad as a Motorcyclist is aware of his surrounding at all times. Below is a test that he's passed on to me. He even failed the test. Click to take this test. As good as I think I am in regards to Motorcycle awareness I failed the test. Yes, I failed. Oh No. How will you do? Take it to see. About the author: Cheryl Bowers is a Naperville, Plainfield Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Naperville IL., Plainfield IL., or any place in the country. Cheryl has … (1 comments)
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oswego il real estate: Plainfield IL., Naperville Illinois - Fed cuts rate again, Is it time to Buy? - 03/23/08 09:04 AM
Fed steps in and cuts again Bernanke pulls out all the stops to ailing economyThe Federal Reserve significantly cut rates for the sixth straight time since September, this time cutting 75 basis points. This follows a busy weekend where the Fed also extended its hand to Wall Street, bailing out Bear Stearns with JP Morgan Chase. While rate cuts look good at face value, you need to prepare for what's to come.
Why did they do this? The Fed wants you to start spending money and wants to boost consumer and Wall Street confidence. Consumers are under stress with increasing consumer … (0 comments)
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oswego il real estate: Naperville Illinois, Plainfield Il. real estate - Timing Is Everything: When And How To Move. - 03/21/08 04:51 PM
Timing Is Everything: When And How To Move
In the next few months making a move can become increasingly more complicated say industry experts. "June to September is really known as the high season for the moving industry," says John Bisney, Director of Public Relations for the American Moving and Storage Association (AMSA). It's a popular time because kids are out of school and people are trying to get the move done before the children have to return to class. "So if you can avoid moving during June to September you're probably going to get better service and have more … (0 comments)
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oswego il real estate: Naperville Illinois, Plainfield IL. real estate - Will my mortgage insurance cover the difference if I default on my loan - 03/21/08 04:32 PM
If I pay mortgage insurance and default on my loan, why wouldn't that cover the deficiency amount?The mortgage insurance is not there for your protection, just the lender's. If you are paying PMI (private mortgage insurance) it is there to protect the lender in case you default on your loan. You can usually get the PMI removed after you have enough equity in the home. The lenders will not remove this for you. It is your responsibility to get this removed. Afterall, why do you want to be paying PMI if you don't have to. It doesn't protect you, it protects … (0 comments)
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oswego il real estate: Plainfield IL, Naperville Illinois Real Estate - Homes for rent - 03/21/08 08:49 AM
Did you know that I can help you find a home to rent?
In the multiple listing service, there are rentals available. Contact me today and we will work together to find a home for you to rent. Whether you want a month-to=month lease or a one year agreement, I'll be sure to find you something. With so many homes on the market today, many home owners are looking for other options like renting out there homes.
"That sounds great, Cheryl, but I can't afford to pay you!"
No problem, as the renter, you are not responsible for my compensation. The landlord would be responsible … (0 comments)
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oswego il real estate: Plainfield IL, Naperville Illinois Real Estate - Should I refinance right now? - 03/21/08 08:40 AM
The economy is going through a rough patch, and the stock market is well below its all-time high. Mortgage rates have been dropping since the end of last year. For homeowners, that can mean only one thing: It's time to think about refinancing your mortgage.
If you can save on the interest you're paying, then it's time to do a mortgage refinance. For some homeowners whose adjustable-rate mortgage (ARM) interest rates are rising, the low interest rates on 30- and 15-year fixed-rate mortgages offer an opportunity to refinance into something that's a known quantity. If you have a mortgage that's going to … (2 comments)
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oswego il real estate: Plainfield IL, Naperville Illinois Real Estate - Capital gains taxes and short sales - 03/21/08 08:27 AM
Will I have to pay capital gains taxes if I sell a property as a short sale?No. If your bank suggested that, they are ridiculous. Capital gains would indicate that you are in some way "better off" financially because of money you have made. In a short sale, you lose and owe money. The only thing the bank could possibly mean is that the deficiency will be reported as 1099 income and you will have to pay taxes on that, but not as capital gains.
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oswego il real estate: Plainfield IL, Naperville Illinois Real Estate - Am I eligible for a short sale or is my only option foreclosure or bankruptcy? - 03/18/08 12:23 PM
I owe more than my home is worth. Am I eligible for short sale or is my only option foreclosure or bankruptcy?Always consult your lender as to what your options are. The options usually are: a short sale, deed-in-lieu of foreclosure (basically an accelerated voluntary surrender), and foreclosure. The banks like to prevent foreclosure when at all possible. They've even been known to lower people's rates and/or payments because of all the new defaults in the past few years. Either way, your first stop should be to get information from you lender on what options they provide.Contact me for an assessment of your costs. … (0 comments)
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oswego il real estate: Plainfield IL, Naperville Illinois Real Estate - Will my mortgage insurance cover the difference if I default on my loan? - 03/18/08 09:29 AM
If I pay mortgage insurance and default on my loan, why wouldn't that cover the deficiency amount?The mortgage insurance is not there for your protection, just the lender's. If you are paying PMI (private mortgage insurance) it is there to protect the lender in case you default on your loan. You can usually get the PMI removed after you have enough equity in the home. The lenders will not remove this for you. It is your responsibility to get this removed. Afterall, why do you want to be paying PMI if you don't have to. It doesn't protect you, it protects … (0 comments)
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oswego il real estate: Plainfield IL, Naperville Illinois Real Estate - What is this I hear about Radon? - 03/11/08 11:48 PM
A state law requires radon disclosure as of January 1, 2008. What do you need to know?
When a buyer and seller sign a contract on residential real estate property in Illinois on or after January 1, 2008, the new Illinois Radon Awareness Act will apply to the sales transaction. According to the new law, the seller must supply the buyer with two documents before the buyer will become bound on a contract to purchase the property. The first is a pamphlet from the Illinois Emergency Management Agency (IEMA) entitled "Radon Testing Guidelines for Real Estate Transactions." The second is a form to sign called "Disclosure … (0 comments)
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Cheryl Bowers, Plainfield, Naperville, IL. Real Estate
Plainfield,
IL
More about me…
Keller Williams Realty
Address: 608 S. Washington Street, Suite 100, Naperville, IL, 60540
Cell Phone: (630) 712-1921
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