Let's Talk! Gene Mundt, IL Professional Mortgage Banker Blog

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Gene Mundt

Regional Manager - Mortgage Lender

Personal NMLS #216987

NMLS # 175656

Got Blackhawk Hockey Fever? Learn to Skate/Play Hockey @ Lockport Township Park District's/Canlan Skating Academy Camps

Gene Mundt Mortgage Lender Chicagoland Mortgage Lending (www.genemundt.com) — Thu, 16 May 2013 12:52:16 -0700

Got Blackhawk Hockey Fever?

Learn to Skate/Play Hockey @ Lockport Township

Park District's/Canlan Skating Academy Camps

With our Chicago Blackhawks in the 2013 Playoffs (and hopefully heading towards the Stanley Cup), Chicagoland has caught hockey fever. Toews, Kane, Crawford, and Sharp jerseys ... plus those of other Hawks players, are being seen everywhere. And the airwaves/internet are full of Hawk tweets, Facebook shares, Pinterest pins and more.

   It should come as no surprise then that Blackhawk Fever has infected many of the area's youngsters. Watch any Hawks game and you'll see that the United Center's stands are filled with them enjoying every check, puck bounce, and goal.

     So for "all you young hockey players out there" (thank you Eddie Olczyk) in the Chicagoland area dreaming of playing NHL Hockey in the future ... or those that just love playing the game now ... the information contained below will be of great interest.

   The Canlan Ice Sports Skating Academy located at 1581 Normantown Road, Romeoville, and home to the Joliet Jaguars, the Lewis University Flyers, and Senior Hockey Chicago ... is offering skate programs to all levels of skater through the Lockport Township Park District.

For those from 3 years to 18 years old, classes are designed to teach, hone skills, and elevate the love of skating, hockey and fun on the ice.

This summer's Canlan Skating Academy Camps break down as follows:

Snow Plow Sam: Ages 3 & 4 years
Basic Skills: Ages 5 to 15 years
Snow Plow Sam Hockey: Ages 3 to 5 years - Helmet required for this instruction, Skates are Included
Hockey Development Skating: Ages 6 to 18 years - Helmet with face-mask, Hockey skates (Included with class) required for this instruction

Camp Fees are:    $135 for Residents
   $145 for Non-Residents

   Registration for these summer camps can be made online at: Lockport Park District Online Registration. Registrations can also be completed by calling, faxing, or mailing the Registration Form and payment for the camp (check payable to Lockport Township Park District) form to:

Challenge Fitness

2021 So. Lawrence Avenue, Lockport, IL 60441

815.838.3621, Ext. 0

Fax: 815.834.4278

Lockport Park Dist. - Crest Hill Office

1610 Plainfield Rd., Crest Hill, IL 60403

815.741.2964

Fax: 815.834.4278

More classes, camps, and ice-time is available to skaters of all ages and skill levels at the Canlan Ice Sports Arena, as well. For more detailed information, please call: (815) 886-4423, or go to their website at: Canlan Skating Academy!

* Thinking of Buying a Home or Refinancing in the Lockport Township Park District, Will or DuPage County, or elsewhere in the Chicagoland area? Contact me! I'll be happy to put my 36+ years of expertise and experience hard to work on your behalf.
I can be easily found at any of the following:

Direct: 815.524.2280 Cell: 708.921.6331

eFax: 815.524.2281 Skype: 630.219.1316

Ready to Apply for your Mortgage?

Gene Mundt

Regional Manager - Mortgage Lender

Personal NMLS #216987

NMLS # 175656

What Does a Los Angeles Realtor® Do?

Gene Mundt Mortgage Lender Chicagoland Mortgage Lending (www.genemundt.com) — Tue, 14 May 2013 16:50:15 -0700

The housing market in the Chicagoland area (and elsewhere across the U.S.) is finally improving this Spring. And I've noticed one thing popping up again right along with the warmer weather's flowers. For Sale signs! Many of them FSBO's.

When I ran across Jane Peters' post (Power Brokers International), "What Does a Los Angeles Realtor Do?" ... I thought that the information certainly pertained to potential Home Buyers and Sellers everywhere, not just in Los Angeles ... so I decided to re-post it immediately.

As a Chicagoland Mortgage Lender, I personally can't imagine trying to navigate a real estate transaction in today's market without the knowledge, expertise, counsel, and assistance of a Realtor/real estate professional at my side. Today's real estate transaction and mortgage processing (should you be borrowing to buy a home) are much more intricate in nature than ever before. I recommend finding and working with a Realtor/real estate professional to achieve the best results for yourself and to reach a successful conclusion to your transaction.

Jane Peters of Power Brokers International, Los Angeles/LA area provides a great synopsis of the responsibilities of a Realtor in her post. After reading it, should you need a referral for a Realtor in the New Lenox/Will County/Chicagoland area ... give me a shout. I'll be happy to refer you to our area's best professionals ...

Gene

Via Jane Peters - Los Angeles Real Estate DRE# 01439865 (Power Brokers Int'l):

Whether you are buying or selling Los Angeles real estate you will want to use the services of a Los Angeles Realtor®. Why? Because it will save you a lot of time and aggravation in the long run and will make for a positive experience.

Sellers:

Sellers who try and go it alone by selling FSBO (For Sale by Owner) with the thought that they are going to save money should know that they would probably have received the same amount, if not more, and saved the frustration and dangers of handling the process and paperwork, if they had used the services of a Realtor®. Selling real estate is our full-time job, it is not the seller’s

The Realtor® who sells your home can also help you buy or rent a new one, and most certainly should. There is often a misconception that Realtors® either represent sellers or buyers. That might be some agents’ preference, but we can do both, and also help find rentals.

If you have worked with a local Realtor® and liked their services you should ask them for a referral if you are moving to a different area. We Realtors® network heavily and we will know another great agent to refer you to. We also receive a fee for that referral so we have a strong interest in making sure that you are well taken care of.

Buyers:

Buyers often think that they can find a home on their own on the internet. Since it does not cost a buyer anything to use the services of a Realtor® that is the best route to go. Why?

The information a Realtor® will provide will be up-to-date and timely. In this heavy sellers’ market buyers need to be on top of listings as they come on the market.

Trying to set up appointments to view properties is no easy feat and is time-consuming. Buying real estate is our full-time job, it is not the buyer’s.

A buyer needs to have their own representation. Thinking they are going to get a deal by going through the listing agent is a misconception. A buyer needs to have someone negotiating solely for them and not the seller at the same time.

Buyers often think they will cast a wider net if they call several different agents to look for properties. One good Realtor® is enough. We all have access to the same information through the Multiple Listing Service (MLS). Pocket listings (homes held off the MLS) are the exception, but those are few and far between.

Since Realtors® work on commission they appreciate your loyalty. And a good Realtor® will not work with you if they find out you are working with another agent. It doesn’t pay to put in all the time they do and have a buyer seal a contract with someone else. One good Realtor® is all a buyer needs.

Entering into a relationship with a Realtor® when conducting one of the most important transactions of your life can be invaluable. Contrary to popular opinion we work hard for our money

For more information on how I can best serve your Los Angeles real estate needs, don’t hesitate to fill out the CONTACT FORM or call me at 310-473-6919

Read more: http://www.homejane.com/how-does-this-working-with-a-los-angeles-realtor-thing-work.html#ixzz2T0I50R52

Jane Peters, connecting you to the L.A. real estate scene

Buying or selling real estate in Los Angeles can be an overwhelming process. Contact Jane Peters, Los Angeles realtor specializing in absentee owners, out of town buyers, and those who need that extra attention, in order to make the transaction a smooth, trouble-free, and fun experience.

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Gene Mundt

Regional Manager - Mortgage Lender

Personal NMLS #216987

NMLS # 175656

"Nothing in Life Comes Free" ... just like the old saying goes

Gene Mundt Mortgage Lender Chicagoland Mortgage Lending (www.genemundt.com) — Mon, 13 May 2013 15:13:22 -0700

"Nothing in Life Comes Free" ... just like the old saying goes

    I'm sure you've heard the statement,

   "Nothing in life comes free"

    Well, a blog I read today, written by fellow mortgage lender Joe Petrowsky on ActiveRain, reminded me of the wisdom and important lessons contained within this statement.

      Joe had started the mortgage process with a new client by running the client's credit report. His client had sought out the services of a credit repair company to help him improve his credit and credit scores prior to seeing Joe, so the scores reported on his credit came as no shock to him.

     The credit repair company had promised the client that they'd remove the issues showing on the report ... all bills and payments that the client did in fact owe.  The cost to perform this service? HALF of what was owed to creditors! The outstanding obligations mounted up to $5000, so they'd given the credit repair company $2500 upfront to perform their magic. Problems solved, right?

     Well, I'm betting you know where this story is going. Yep! The only thing that disappeared was the client's money!

   I've seen and heard quite a few stories much like this one. But for me, the lessons gained from them don't so much revolve around being "ripped off" by fraudulent credit repair companies or any other servicers. (Although the "when it sounds too good to be true" ... or ... "if it walks like a duck and quacks like a duck" lessons are both valid and important to remember.)

No. For me the lessons revolve around work ethic. Trying to reap benefits too easily ... too quickly ... or when you really haven't done much to earn them. This client thought they could throw money at their problems and make them disappear.

     Now let me be clear ... I certainly don't wish this client's misfortune and outcome on anyone. No one deserves that what happened to them. But the real and long term solution to their credit problems will only be found in their own willingness and dedication to solving them and their personal investment in hard work, attention, and time. That fact can't be escaped.

     The truth regarding this matter is:

Building good credit
Maintaining good credit
Keeping up-to-date, detailed records
Filing your documents safely, in an organized manner
Making Mortgage Application
Navigating successfully through Mortgage Processing
Following the directions and advice provided by your real estate and mortgage professionals during the home buying and mortgage process ...

     and many more things in life aren't always easy. You typically don't find great success when you take shortcuts. And you typically don't pull solutions out of a hat. Nope.

   "Nothing in life comes free" just like the old saying goes. Most things worth having or doing demand an investment of your time, attention, and hard work. And that includes improving your Credit, Buying a Home or obtaining a Mortgage.    Just ask Joe's client ...

   * Hoping to Buy a Home or Refinance in New Lenox, Joliet, Will/DuPage County, or elsewhere in the Chicagoland area? Contact me today! I'll put my 36+ years of mortgage experience, dedication, and expertise hard to work on your behalf.
     I can be found at any of the following:

Direct: 815.524.2280

Cell: 708.921.6331

eFax: 815.524.2281 Skype: 630.219.1316

Ready to Apply for your Mortgage?

Gene Mundt

Regional Manager - Mortgage Lender

Personal NMLS #216987

NMLS # 175656

Buyers, Stagers, Everybody can use this room planning tool!

Gene Mundt Mortgage Lender Chicagoland Mortgage Lending (www.genemundt.com) — Sun, 12 May 2013 16:27:19 -0700

My wife is always saying that she has a hard time envisioning things. Sizes, square footage, how one items relates to another in size and color ... she needs something visual as help.

I'm thinking the room planning tool that Lyn Sims, Schaumburg Real Estate - Northwest Suburbs - RE/MAX Suburban (IL) offers within her post ... from Urban Home ... addresses that need and will help her and others immensely.

Thank you to Lyn Sims for passing on this find from Pinterest ...

Gene

Via Lyn Sims - Schaumburg Homes (Schaumburg Real Estate - Northwest Suburbs - RE/MAX Suburban):

Buyers, Stagers, Everybody can use this cool tool!

I have to give Pinterest the credit here as they send me a highlight email every week and this is where I noticed this 'cool tool'. I jumped on the room planner and gave it a whirl and it is sooooo easy a monkey could do it (like me!).

Urban Home has a room planning tool that they use obviously to sell furniture but it's fresh and innovative too. Actually let's you visualize what the furniture will look like in your room with different planner aids of actual furniture. As soon as I saw this it was a 'eureka' moment.

We've all had visually challenged buyers right? So for grins, I did a bedroom furniture plan to see how easy it was to do. Took all of 5 minutes! Wish moving an armoire was as easy as pushing my mouse!

Give it a try and check it out. I'm sure that you can envision many more uses that will help your clients.

Lyn Sims ● Schaumburg IL Area ● Northwest Chicago Suburbs ● (847)230-7324

Gene Mundt

Regional Manager - Mortgage Lender

Personal NMLS #216987

NMLS # 175656

Is it Worth it? A Reflection on the Current Mortgage Process

Gene Mundt Mortgage Lender Chicagoland Mortgage Lending (www.genemundt.com) — Fri, 10 May 2013 10:14:27 -0700

Is it Worth it?

A Reflection on the Current Mortgage Process

The current mortgage process has a bad reputation ... let's face it. You can't listen to newscasts or read the papers without seeing or hearing stories conveying that perception.

Although I understand that today's mortgage process is far more detailed than it was previously (and yes, sometimes even borders on silly), I think in many cases the current mortgage process is getting a bad rap. And bad news makes for good copy and good ratings ...

A recent call from clients of mine presently in the mortgage process, is representative of what I say. These clients called after I had requested updated banking statements from them.

A little bit of info/explanation for those that have not financed recently: Some documentation required for Mortgage Application and mortgage processing is more "time-sensitive". Banking statements are a good example of this. But typically, obtaining updates is fairly easily accomplished.

Account statements and any updates must include:

Verified copies must contain the client(s) name.
Your Account Statement must show the FULL account number AND Bank's Name
There should be NO skipped pages
Should reflect ALL transactions made within the prescribed dates requested

     The request I made for updated statements was standard and required in order for my clients to Close. My clients had been informed previously (at their initial mortgage inquiry and later in the process also) that the request would be forthcoming at this point in their processing. Yet, I heard a big sigh ... and the following question during their call ...

     "Gene, is it all worth it?"

   I obviously said "Yes!" And then offered some words of encouragement also, as the client sounded somewhat frazzled by my request. But after I got off the phone, I found myself wondering WHY these clients felt so burdened and WHY they sounded so overwhelmed.

     These are the facts as they stand for this client. The following has been their responsibilities and participation in their mortgage process so far:

      Through the ease and convenience of technology (phone/Skype, my Website, etc.) ... the clients' initial fact-finding interview/Pre-Qualification conversations were all conducted quickly, easily, conveniently ... without them leaving their workplace, their home, or greatly disrupting their personal schedules.

   Because I offer a secure online option for full Mortgage Application on my website ...
     These clients were able to complete their App at their convenience, within their own home ... utilizing their own computer.   As a couple, they did not even have to complete the task together. They each performed this task conveniently within their own timeframe.

   Because I offer the convenience of "e-signing" and a secured eFax service ...
     They were not required to make a trip to my office (or elsewhere) for delivery/pick-up of the mortgage application or required documents as clients did in the past. They did not even have to make or provide copies of anything. I did that on my end. They just scanned/faxed and off the documents went! Again ... right from the convenience and comfort of their own home and their work office.

   Through the use of various technology, they were able to ...
     Contact me via phone, text, email, fax, and even used Facebook or Google+ messaging features to ask questions or gather additional info. I will point out ... all at their convenience from the comfort of their own home, car, or work ... and yes, even during their out-of-state vacation.

     Plus they were able to ...
   Conveniently ask questions and receive answers from me during a very broad timeframe within each day. Saturdays, Sundays, and late evening hours included.

   Now ... what do my clients gain for their efforts? They will reap these benefits from their Refinancing:

Shave 10+ years off their present Mortgage term
Substantially lower their monthly payments
Drop their Interest Rate into the mid-3% range
Achieve these savings without any out-of-pocket expenses

   The details and amount of info needed by Lenders on a Mortgage Application and during mortgage processing is more than it used to be, no doubt about it. Many more questions need to be asked and answered. But ... given the opportunity for large monetary savings and the benefits to be found in the short and long term, I must ask this ...

    Given the facts above, how do YOU answer this question? How do YOU weigh the effort made on my clients' part versus the benefits they achieve? Is it worth it?

     Me? I say"Yes!"

     * Thinking of Buying a Home or Refinancing in New Lenox, Joliet, Will/DuPage County, or elsewhere in the Chicagoland area? Contact me today! I'll put my 36+ years of mortgage experience and expertise hard to work on your behalf.
   I can be easily found at any of the following:

Direct: 815.524.2280

Cell: 708.921.6331

eFax: 815.524.2281 Skype: 630.219.1316

You are Invited to Follow Me through any of the Social Media found below

Are you Ready to Apply for Your Mortgage?

Gene Mundt

Regional Manager - Mortgage Lender

Personal NMLS #216987

NMLS # 175656

Village of New Lenox, IL: "The Home of Proud Americans"

Gene Mundt Mortgage Lender Chicagoland Mortgage Lending (www.genemundt.com) — Tue, 07 May 2013 14:28:57 -0700

Village of New Lenox, IL: "The Home of Proud Americans"

New Lenox, IL is known as "The Home of Proud Americans" ...

The Village of New Lenox is found approximately 36 miles southwest of the Chicago Loop, is located in the center of New Lenox Township and the east-central portion of Will County. It encompasses an area of 15.68 square miles and now showcases a population of approximately 24, 500 people within its midst.

New Lenox was incorporated as a Village in 1946. It remained a small community surrounded by vast amounts of farmland for many years. But after the completion of the Interstate 80 interchange on its border in the early 1970's, the Village's population began rapid growth to its current size.

Contributing to the Village of New Lenox's popularity:

Proximity to Chicago
The ease with which you can commute to the City of Chicago along the Metra Rock Island line
The new I-355 extension
The 35 parks and athletic fields contained within its New Lenox Park District
The Old Plank Road Trail which travels through its heart
Its many excellent schools
The new Silver Cross Hospital located on its border
The new Edward Hines, Jr. VA Hospital in nearby Joliet
Nearby entertainment and sports outlets:

* Rialto Square Theatre in Joliet

* Chicagoland Speedway outside ofJoliet/Elwood

* Silver Cross Field in Joliet, Home of the Slammers

* Route 66 Raceway outside of Joliet/Elwood

* Performing Arts Pavilion - NL Village Commons

Low crime rate
Median household income - above state average
Median house value - above state average
Unemployed % -significantly below state average

A wide variety of housing and housing prices is located in and near the Village of New Lenox. To search for a home in New Lenox and the surrounding area, please click HERE,
or contact me for a referral to the area's best real estate professionals. I'll be happy to provide you with names and contact information.

* In need of mortgage financing answers or mortgage service in the New Lenox, Will/DuPage, or Chicagoland area? Contact me today! I'll put my 36+ years of mortgage experience and expertise hard to work on your behalf.
I can be easily found at any of the following:

Direct: 815.524.2280

Cell: 708.921.6331

gundt@goapmc.com

eFax: 815.524.2281 Skype: 630.219.1316

You are Invited to Follow Me through any of the Social Media below

Ready to Apply for your Mortgage?

Gene Mundt

Regional Manager - Mortgage Lender

Personal NMLS #216987

NMLS # 175656

Is Your Credit Haunted?

Gene Mundt Mortgage Lender Chicagoland Mortgage Lending (www.genemundt.com) — Mon, 06 May 2013 14:10:59 -0700

Is Your Credit Haunted?

As a Mortgage Lender, one of my most important services is that of credit advisor. Credit advice (in one form or another, whether it's polishing/improving credit, or repairing it) is needed by clients before, throughout, and even following many transactions.

      A perfect example of this fact, was the new client I met last Friday. They were hoping to Refinance their present mortgage to reap alower interest rate and shorter term.   They'd not run a credit report for quite a while, so they had little idea what their current credit scores were.

     The report I ran for them revealed some pretty major credit issues and credit scores that were very poor. Late payments on medical bills were being reported. Inflicting even more severe damage though, was the laundry list of late utility/credit card bills, judgments, liens, parking tickets, and mind-blowing number of credit inquiries showing on the report.

    Only thing. None of the most damaging actions were my client's. Someone had created a bogus Social Security # that was showing on their report ...but they had also attached themselves to my client's social security number as well. They had reeked havoc on their credit standing. It had been happening for a substantial length of time.

   Now this story is already bad enough, right? Having your credit, social security number, or identity stolen is a fate I wouldn't wish on my worst enemy. Straightening the mess out is going to be hard work ... and take a significant amount of time. Their Refinancing? Currently out of the question.

   But, the saddest part was ... this wasn't the first time this had happened to them. This couple had suffered through the very same thing about 6 or 7 years back. At that time, they had written letters to retailers and credit bureaus. Reported the problem to the authorities. They thought the problem was fully taken care of. Nope ...

     To add insult to injury, the person utilizing and stealing their identity, using their social security card, and ruining their credit now? It appears to be the very same person that had perpetrated the crimes upon them years ago.

     What the heck??

     This unfortunate incident provides a very strong, clear, and important lesson regarding the importance of checking your credit scores and standing ... at minimum ... once every year. (Once per year if you've never had issues.) Running your credit more often is recommended, if you've suffered through something similar in the past, like my clients have.

You can't assume that your credit issues have been resolved just because you wrote letters or filed some reports. YOU must follow through ... make sure the problem is fully-corrected for each and every judgment, lien, or late payment showing on your credit report.

Then YOU must make sure full documentation of that fact is provided/available to you for your records. That way if the problem does crop up again, isn't fully rectified, or just comes back to haunt you like these clients of mine are experiencing, you're not starting over from ground zero.

     Plus, you must remember: If any documentation needs to be recorded, YOU must make sure that task is accomplished. YOU must demand proof, see that the recording occurs, and/or request the vital information andrecorded document numbers needed for YOUR files.

     Then you should continue to monitor your credit and credit standing consistently (it's recommended every 6 months in these instances) over an extended period of time. No one else will care as you do ... or as you should ... to see that these steps are taken.

     Is your credit haunted? Make sure that it is not! First, run your credit report (or if in the Chicagoland area ... ask me to do it for you.) Then continue to monitor your credit standing and credit scores with the frequency recommended by mortgage lenders, the 3 major Credit Bureaus, the Federal Trade Commission (FTC), the Social Security Administration, and many more.

   Experience has taught me that too many times these situations come back to "haunt" fraud victims, if these steps are not taken ...

* Looking to discover your Chicagoland home buying and mortgage refinancing options? Not sure of your current credit standing or credit scores? Unsure how to prepare for mortgage financing? Contact me today! I'll be happy to answer your questions and assist you with your mortgage financing needs.
I can be easily found at any of the following:

Direct: 815.524.2280

Cell: 708.921.6331

eFax: 815.524.2281 Skype: 630.219.1316

FREE Consultation

You are Invited to Follow Me through any of the Social Media below

Ready to Apply for your Mortgage?

Gene Mundt

Regional Manager - Mortgage Lender

Personal NMLS #216987

NMLS # 175656

Attitude Makes a Difference

Gene Mundt Mortgage Lender Chicagoland Mortgage Lending (www.genemundt.com) — Sat, 04 May 2013 10:16:38 -0700

Ironic how things works out sometimes ... or how the appearance of or timing of something you read is so ... perfect. Let's just say my morning was off to a bumpy start today ... and the positive message written here by Donna Foerster made me feel better. It resonated.

I thought I'd share it. I'm hoping it makes you feel better too. Hopeful. Positive. And that it serves as a good and timely reminder, just as it did for me.

I say, thank you Donna Foerster, of Rocky Mountain Real Estate Advisors! You're one mighty wise woman ...

Gene

Via Donna Foerster, Metro Denver Real Estate Agent (Rocky Mountain Real Estate Advisors):

Attitude Makes a Difference

"Positive thinking will let you use the abilities, training and experience you have." ~Zig Ziglar

I very strongly believe in the law of attraction. If you are a "Negative Nancy" (please don't take offense if your name is Nancy) you will attract negative attention. Other people that have a negative attitude, or negative circumstances. Business will be more challenging and life in general will be stressful. Who needs that?

When you smile, those around you will smile back. When you say thank you, you will more than likely hear "you're welcome" or "my pleasure". Positive attracts positive.

Let's make the world a better, happier place, one person at a time.

Attitude Makes a Difference

Donna Foerster

The Foerster Team

Rocky Mountain Real Estate Advisors

www.TheFoersterTeam.com

720-530-5554 (cell)

Gene Mundt

Regional Manager - Mortgage Lender

Personal NMLS #216987

NMLS # 175656

Do You Have a Camera That You're No Longer Using? Donate it to St. Joseph's Indian School!

Gene Mundt Mortgage Lender Chicagoland Mortgage Lending (www.genemundt.com) — Wed, 01 May 2013 12:00:47 -0700

Do You Have a Camera That You're No Longer Using?

Donate it to St. Joseph's Indian School!

     My wife and I have been supporters of St. Joseph's Indian School, located on the Missouri River in Chamberlain, South Dakota, for over 3 decades. We've visited St. Joseph's a number of times, either when vacationing ... or loaded up with donated supplies for the school and children.

     There's something being stored for St. Joseph's somewhere in our home at almost any given time. Whether it's Campbell's Soup Labels, Box Tops for Education, school supplies, clothing, bedding, toys, or general pharmacy supplies for one of the 20 homes found on campus ... we've probably collected it for this amazing school at one point or another.

   In one of the latest school newsletters we received, St. Joseph's made a plea for help. Art classes are very important to the children at St. Joseph's Indian School. Art is one way that they learn about their heritage and then are able to express it.

   Right now, St. Joseph's is in need of gently-used point and shoot digital cameras for the children to use in their art projects. I thought ... "what group of people would be more likely to have this equipment available than those in the real estate fields and those on ActiveRain?"   Agents, Appraisers, Home Inspectors, Insurance Agents, Stagers, Lenders, and more ... we ALL utilize cameras within our business services!

   What cameras are needed?

Gently used, point and shoot digital cameras
Cameras that include cords, software and user’s manuals

If YOU have an old, gently used camera (or more than one) lying around, and you would consider donating it to the children at St. Joseph's, please send it to:

St. Joseph’s Indian School

Attn: Camera Project
PO Box 89, 220 N Main St
Chamberlain, South Dakota 57325

If you're in the Lincoln-Way Area/Will County/Chicago Southland region, you can also drop your cameras off at my office located at: 318 Alana Drive, New Lenox. I'll be happy to collect/ship any camera donations out to St. Joseph's Indian School on your behalf.

I know the children will say ... "Pilamaya" ... thank you for any cameras and donations you send their way!

If interested in learning more about St. Joseph's Indian School, the Lakota children that attend the school, and the good deeds that St. Joseph's does, please follow St. Joseph's on Facebook ... or go to: www.stjo.org. I think you'll fall in love with the children and come to agree that St. Joseph's is one amazing place.

Hope you enjoy the video below and come away inspired by all the things that St. Joseph's Indian School does for their children. If I can answer any questions, please do not hesitate to contact me for info also ... I'll be happy to share our experiences with you.

Please pass this info on ... to family, friends, co-workers ...

so they too can donate, if possible. Thank you!!

Gene Mundt

Regional Manager - Mortgage Lender

Personal NMLS #216987

NMLS # 175656

Will County IL Property Tax Bills to be Mailed May 3rd, 2013

Gene Mundt Mortgage Lender Chicagoland Mortgage Lending (www.genemundt.com) — Tue, 30 Apr 2013 13:41:15 -0700

Will County IL Property Tax Bills to be Mailed May 3rd, 2013

     Will County Treasurer, Steven Weber, has announced that Will County (IL) property tax bills will be mailed to property owners on Friday, May 3rd, 2013. These bills represent the taxes due for the year 2012.

     The first installment of Will County taxes will be due on June 3rd, 2013. The second installment will be due on September 3rd, 2013.

   Will County has made several options available for convenient payment of tax bills. Those are:

Online payment of Will County taxes can be made at: www.WillCountyTaxBill.com ... through the date of November 27th, 2013
There are over 100 banks and credit unions located across Will County accepting payment for Will County taxes. To view that list, click HERE
Payments can be made by auto-draft from a checking or savings account.
Payments can be made by mail. Checks should be made out to: Will County Collector. Payment is considered void if the check doesn't clear ... a $25 Non-Sufficient Funds fee is charged. Post-dated checks are illegal and will not be held for processing. Personal checks received after October 18th, 2013, will be returned, regardless of their postmark.

Send payments made by mail to:

Will County Collector

P.O. Box 5000

Joliet, IL 60434-5000

Payments can also be made by automated telephone. Call: 815.723.4741
Payments can be made at the Will County Building, located at: 302 No. Chicago St., Joliet, IL. Regular hours are: 8:30 am to 4:30 pm, Monday through Friday. A drop-box is available for after-hours payment.

The Will County Treasurer/Collector site accepts most major credit cards (MasterCard, American Express, Visa). A convenience fee is applicable and non-refundable.

Note: Thursday, November 17th, 2013 is the last day you can make your Will County tax payment online. Wednesday, December 3rd, 2013 is the last day you can make your Will County tax payment in person. The County of Will will sell any outstanding tax amount after December 3rd at their Annual Tax Sale.

Also: It is NOT the actual tax bill that you protest. It is the ASSESSMENT of your property. By the time you receive your actual tax bill, the dates for protest for that year are already over. Should you have questions regarding your assessment, please contact your property township tax assessor for information.

If you have questions regarding your Will County taxes or the payment of those taxes, information is available at: Will County Tax Bill Facts or by calling the Will County Treasurer's office at: 815-740-4675.

* Hoping to buy or refinance a home in Will County or elsewhere within Chicagoland? Contact me! I'll put my 36+ years of mortgage experience and expertise hard to work on your behalf.

I can be easily found at any of the following:

Direct: 815.524.2280

Cell: 708.921.6331

eFax: 815.524.2281 Skype: 630.219.1316

You are Invited to Follow Me through any of the Social Media below.

Ready to Apply for your Mortgage?

Gene Mundt

Regional Manager - Mortgage Lender

Personal NMLS #216987

NMLS # 175656

New Lenox Township's "33rd Annual Township Wide Clean Up Day" to be held May 4th, 2013 New Lenox Township (Village and Unincorporated Areas) will be hosting its "33rd Annual Township Wide Clean Up Day" on May 4th this year.

Gene Mundt Mortgage Lender Chicagoland Mortgage Lending (www.genemundt.com) — Mon, 29 Apr 2013 11:32:31 -0700

New Lenox Township's "33rd Annual Township Wide Clean Up Day"

to be held May 4th, 2013

New Lenox Township (Village and Unincorporated Areas) will be hosting its "33rd Annual Township Wide Clean Up Day" on May 4th this year. Collection of items will begin at 6 am and run through 12 Noon on that day.

No hazardous waste items or materials will be collected during this Clean Up Day service. Items that are acceptable for pick up are:

Appliances
Bedding
Small amounts of building materials (placed in containers)
Furniture
Carpeting
Most large household items

Acollection of additional items will be held at the New Lenox Township office/yard location at 1100 So. Cedar Road in New Lenox. Recyclable materials and items will be collected at the Township office/yard on this date.

Hours for collection that day are: 9 am to 1 pm. Anyone wanting to drop off items during this time must show proof of residency.

Items that are acceptable for drop-off at the Township office/yard location on May 4th during the New Lenox Township "33rd Annual Township Wide Clean Up Day" are:

Used automotive batteries
Used electronics, such as: Monitors, TV's, Computers, Microwaves, Keyboards, and more
Used tires (Limit of 4/household) Car & Light Truck only. NO Tractor or Large Truck tires will be taken
Used Motor Oil
Used Antifreeze

     Should you have questions regarding the New Lenox Township's "33rd Annual Township Wide Clean Up Day" or the acceptability of any items, please contact the New Lenox Township at: 815.485.6431 or visit their website at: www.newlenox.org.

   Note: A special household hazardous waste collection will be held on Saturday, September 14th during "Sharefest"   at Spencer Trail campus, located on Spencer Road in New Lenox, north of Laraway Road. Items accepted on that day will include: Oil-based products, smoke detectors, household chemicals, aerosols, stains & varnishes, propane bottles, fluorescent light bulbs, and other hazardous materials.

   There is no additional cost charged to residents for these Township services. Again, should you have questions or be in need of more specific information, please contact the New Lenox Township office.

   * The New Lenox Township's "33rd Annual Township Wide Clean Up Day" is just one example of the many helpful services provided by the Township to its residents.
     Should you be thinking of moving or buying a home within New Lenox Township, Will/DuPage County, or elsewhere in the Chicagoland region, please contact me. I'll be happy to put my 36+ years of mortgage experience and expertise hard to work on your behalf.
   I can be easily found at any of the following:

Direct: 815.524.2280

Cell: 708.921.6331

eFax: 815.524.2281 Skype: 630.219.1316

You are Invited to Follow Me through any of the Social Media found below

Are you ready to Apply for your Mortgage?

Gene Mundt

Regional Manager - Mortgage Lender

Personal NMLS #216987

NMLS # 175656

"And Now You Know the Rest of the Story"

Gene Mundt Mortgage Lender Chicagoland Mortgage Lending (www.genemundt.com) — Fri, 26 Apr 2013 13:07:15 -0700

"And Now You Know the Rest of the Story"

     When I was a kid, one of the most popular radio stars of the era was Paul Harvey. Known for his folksy style and storytelling, Paul Harvey's radio program filled the air waves for around 50 years. The thing I remember most about him was how he always signed-off each broadcast saying ... "And now you know the rest of the story."

   I have to admit to you, I've been pretty tempted to borrow Paul Harvey's famous line lately. Especially when explaining mortgage qualifications and mortgage options with potential Borrowers.

     People are once again investigating financing options so they can buy homes. That's great news and a huge positive for our local Chicagoland housing market. I'm finding that for the majority of those I speak with, there are viable options that exist. And for many others, a little scrubbing and polishing of their credit will help them arrive at that point in the near future.

    Unfortunately, there are also those that simply have no options or recourse for financing in the foreseeable future. Financing restrictions and rules prevent it. Who falls into that category?

Those with Credit Scores so extremely low that they can't be
raised or mended quickly or easily
Those that suffered a recent financial catastrophe
Those that have had severe employment setbacks/issues
Those that have a combination of the above or additional extenuating issues

   A caller I spoke to just yesterday had a trifecta of serious financial issues. Because of those issues, there simply was no way that I could help them at this time. We have to work on long-range goals and credit improvement together in order to accomplish financing down the road. I know that news was disappointing for them to hear. It's never an easy message to deliver.

   After hearing the news, my hopeful caller continued to question me regarding mortgage financing options that utilize extremely low credit scores. He had seen others with similar scores told on the internet that programs exist to help them. Why wasn't I offering him those options? Why was I holding out?

   I've seen these questions and answers online too. And typically the scenario plays out much like this:

     Questioner: "Can I get a loan if I have low Credit Scores, such as those in the mid-to-low 500 range or below?"
   Lender: "Yes! I have a program! Call me now!"

     But that Lender's answer doesn't come close to telling the full story. Yes, a mortgage program may exist that caters to Borrower's with credit scores that low. But there are all sorts of "buts", "asterisks", and "prefaces" attached to the programs. Those aren't typically explained and the info is nowhere in sight. Of course if that's all told upfront, few will receive a call or contact. And that's part of their plan.

   I explained the many details and demands of those mortgage programs to my inquiring caller yesterday. The sad news was that even under the more lenient credit score programs, they'd still not qualify for financing. The "buts, asterisks, and prefaces" of those programs eliminate them from buying now or in the near future.

   This scenario plays out fairly often. Bit and pieces of info, misleading info, is out on the internet. It's in the media. It may be enticing. It may spur hopeful Buyers to action. But just because it's out there, it doesn't make it true, make it correct, or make it pertain to you.

   This is where Paul Harvey's famous line seems pretty timely and appropriate to me. And it also highlights why it's so vitally important to find an experienced trustworthy Mortgage Lender to talk to and work with when you're hoping to Buy a Home or Refinance.

     Because of my expertise, I will know what mortgage options exist for your personal finances. Because of my experience, I will know what mortgage programs are the best fit for you ... now and into your future. Because of the things I have learned through my successes, I will be able to answer your questions thoroughly and provide you sound advice and valuable services throughout our relationship.

   Like Paul Harvey said, "And now you know the rest of the story."

* Work with a Chicagoland Mortgage Lender that will answer all your questions and provide you with sound mortgage options. Contact me today! I'll be happy to put my 36+ years of mortgage experience and expertise hard to work on your behalf.
I can be easily found at:

Direct: 815.524.2280

Cell: 708.921.6331

eFax: 815.524.2281 Skype: 630.219.1316

You are Invited to Follow Me through any of the Social Media below.

Ready to Apply for Your Mortgage?

Gene Mundt

Regional Manager - Mortgage Lender

Personal NMLS #216987

NMLS # 175656

The Field of Forbidden Fruit...The Buyers' Risk of Skipping Pre-Qual

Gene Mundt Mortgage Lender Chicagoland Mortgage Lending (www.genemundt.com) — Thu, 25 Apr 2013 09:47:24 -0700

I just HAD to re-blog this post of Mona Gersky's (MoonDancer Realty, Sylva, NC) ... it contains such timely, wise advice for today's new home buyers ...

There are so many potential dangers for buyers (and those re-financing too), should they not speak to a Mortgage Lender well in advance of the time of actually needing their financing.

I stress that this timing for contact and Pre-Qualification is especially true for:

First-Time Home Buyers
Buyers that have previously suffered through a Short-Sale, Foreclosure, or Bankruptcy
Those hoping to buy a Condominium property
Those that have not sought a mortgage for five years or more (The Mortgage process has changed so drastically in that time)

Mona draws a clear picture of the potential heartache that Buyers could suffer should they not qualify for a home they have fallen in love with during their premature home search. I hope every potential Buyer takes the time to read her post and then heeds her warning ...

Gene

Via Mona Gersky, GRI,ABR~MoonDancer Realty~ Western NC Mountains (Buyer & Seller Representation):

Sometimes buyers want to skip or don't know the first crucial step in home buying of establishing a relationship with a lender and getting themselves pre-qualified for a loan. Even worse, sometimes the Buyers' Agent allows them to skip that step. A missed step can mean a bad fall. There is a real risk to the buyer if they haven't determined their ability to purchase a house first as well as sought the guidance of a loan officer to figure out their price range. The consequence is that buyers will shop based solely on their wants instead of their wherewithal and in most cases that most perfect of house will always lie in the field of forbidden fruit.

As agents assist buyers in their search for a new home, we are defining a "standard" of house. The standard is fluid in the beginning. When we look in a pre-determined price range of affordable houses, some houses fall below the standard while others can exceed the standard. That's our goal...to help our buyers find a house that exceeds their standards AND that they CAN afford.

The danger of looking in the field of forbidden fruit first is that most of the houses will certainly exceed the buyers' expectations and will become the "standard" of what they want in a house. More than likely they will fall in love with one of these houses. Not just a wistful sigh laden love that they know they'll have to work towards but hopelessly, headlessly over heel-lessly in love. This will become such an ill-fated love affair once they inform their lender of their choice, that no other house will EVER measure up to this first love. In my opinion, the agent who encouragd their buyer to travel to the land of forbidden fruit in the first place deserves to reap what they allowed to be sowed.

While the real estate market slowly begins to morph from a buyers' market to a balanced market and the lenders are still so gun shy about making loans at all, it is more important than ever for buyers to engage in a conversation with a lender well before a REALTOR is asked to show the first house. The buyer and the REALTOR should always strive to make the real estate transaction process as pleasant and productive as possible. Buyers are encouraged at all costs avoid the risk of not getting pre-qualified with a lender and the certain consequence of dallying in the disappointing and possibly poisonous trip to the field of forbidden fruit.

Unless noted otherwise, all photographs & content are my own and will only be shared with the courtesy of a written request for permission.

Gene Mundt

Regional Manager - Mortgage Lender

Personal NMLS #216987

NMLS # 175656

Ways to Celebrate Mother's Day May 12th, 2013 In & Around Chicagoland

Gene Mundt Mortgage Lender Chicagoland Mortgage Lending (www.genemundt.com) — Wed, 24 Apr 2013 13:59:16 -0700

Ways to Celebrate Mother's Day May 12th, 2013

In & Around Chicagoland

Mothers Day 2013 is Sunday, May 12th.

Do you know how or where you're going to celebrate yet?

There's a wide variety of ways and opportunities over the entire Chicagoland area to celebrate the mothers in our lives. I'm proud to say my family has some of the very best moms (the lovely ladies pictured below are my daughters-in-law, Jenny and Sandi) ... so I've been doing some research of my own.

During my research, I think I've discovered something that will appeal to almost every Mom, young or old ... and her personality, pocketbook, and taste. So take a peek, and start to plan something perfect for the mom or special woman (or women) in your life.

Chicagoland 2013 Mother's Day Ideas

Celebrate Mother's Day at the

Arie Crown Theater's Comedy Jam!

May 12th, 2013 - 7 pm

Featuring Joe Torry, Tony Sculfield, Tommy Davidson, Arnez J, and Earthquake.

Arie Crown Theater, 2301 Lake Shore Dr., Chicago, IL

Ticket Info!

Mother's Day Specials at:

Choppers Salon

Hair Salon .. Skin Care .. Nail Salon

13 Old Frankfort Way, Frankfort, IL

Treat Mom with the gift of Beauty!

SPECIAL GIFT PACKAGE INCLUDES:
Haircut, Style, Facial, Manicure, Pedicure and Make-up
$200.00 ($232.00 Value)

TREAT MOM TO A GIFT ...

AND SHE’LL RECEIVE A GIFT FROM US!
*Complimentary Style w/any Color Service (Prices Vary)
*Facial and Make-up for $70.00 ($120.00 Value)
*Manicure/Pedicure for $34.00 ($49.00 Value)

*Services must be booked for same day - Offer expires May 12th

Questions??
Call: 779-324-5177

Mother's Day Brunch at the Art Institute

May 12, 2013 - 11:00 am – 2:00 pm

Celebrate Mother’s Day at Terzo Piano with brunch.
Treat mom to an extensive gourmet buffet with modern takes on classic brunch favorites.
All mothers leave with a special gift.
Price does not include beverages, tax, or gratuity.
Seating is limited.
$54 members, $60 nonmembers, $20 for children under 12
For Reservations: (312) 443-8650

Just Mom & Me at American Girl Place

835 No. Michigan Avenue, Chicago, IL

May 11, 2013 - 7:30 pm

Enjoy a special meal between Mother and Daughter. Make a paper family tree.

Includes a keepsake photo and frame, plus an American Girl book to take home.

Tickets: $43/pp (Gratuity not included)

Reservations: (877) 247-5223

For Girls 8 years and Up

American Girl Place - Mother's Day Card Craft

835 No. Michigan Avenue, Chicago, IL

May 11th - 3 pm to 5 pm

Make a Mother's Day Card & Matching Envelope! Add your own special Message!

FREE and Open to the Public

For Girls 8 years and Up

Mother's Day at the Joliet Area Historical Museum

May 12th - 10 am to 5 pm

204 No. Ottawa Street, Joliet, IL

Phone: 815.723.5201

www.jolietmuseum.org

See the new exhibit: The Soaring Achievements of John C. Houbolt

FREE Admission for all Moms (sponsored by: Midwest Generation)

Annual Mother's Day Chicago Chocolate Tour - "Chocolate & Flowers"

Enjoy a guided walking and tasting tour to select chocolate shops, bakeries, and cafes, including secret chocolate treasures, plus famous favorites!

Mother's Day Weekend - 2013

$40/pp

Includes: Tour, Chocolate, & Flower

Advance Registration please!

To Buy Tickets: Click HERE or Call: 312-929-2939
For Info on Tours and Routes: Click Here or Write: info@chicagochocolatetours.com
Where: Meet at 900 N. Michigan Avenue, inside by the concierge desk,
for the Magnificent Mile route.

Where: The Lakeview route starts at 3135 No. Broadway

24th Annual Groovin' in the Grove 5K Race & Little Groovers Races
Saturday, May 11th - 9 am
* Little Groovers 1/2K for 5-7 year olds starts at 10:00am
* Little Groovers 1K for 8-10 year olds starts at 10:10 am
* Little Groovers 100 yard dash for 4 & under starts at 10:20 am

ead more here: http://events.adn.com/downers_grove_il/events/show/311837103-24th-annual-groovin-in-the-grove-5k-race-little-groovers-races#storylink=cpy

Midwestern University - Rec & Wellness Center,
555 31st Street, Downers Grove, IL
Flowers for all Moms ... Award for Top Mom. Cash Prizes!
Medals for all participants in the 1K, 1/2K, & 100 Yard Dash!
Sponsored by: Midwestern Univ. Sports Medicine Club to benefit
Sharing Connections Furniture Bank located in Downers Grove, IL
Post Race Activities also! Massage Stations! Face Painting, Clowns & Inflatables for Kids Contact Don Evans at : devans@midwestern.edu - or - 630-971-6401
Race takes place Rain or Shine!
For Tickets, Click HERE!

Mother of All Foodies - Mother's Day Contest
Saturday, May 11th - 9 am
All Chocolate Kitchen - 33 S. Third Street, Geneva, IL
Contestants will share their favorite chocolate dessert recipe for a chance
to bake with expert chocolate artist and Chef Alain Roby.
Before baking at the All Chocolate Kitchen, the winner and a guest will be treated to a manicure and pedicure, signature facial, Manisha eyebrow threading, and a makeover with Jane Medale products from Beauté by Sylvie, European Day Spa in Geneva.
How To Participate:
Contestants should send their best chocolate dessert recipe & a letter on why their mom is the sweetest to:
info@allchocolatekitchen.com by: Wednesday, May 8 at 5:00 pm
The winner will be notified via email and must be available to share their recipe,
enjoy a day at the spa, and bake with Chef Roby on Saturday, May 11.

Mother's Day Buffet - New Lenox
JH Sweis Catering at the New Lenox American Legion
Sunday, May 12, 2013
14414 Ford Drive, New Lenox, IL
Reservations Required - No Walk-Ins
Seating starts 12:30 am
Meat Carving, Seafood, Chicken, Action Pasta & Garden Stations, Potatoes, Vegetables, Kids Station
Also includes a Large Chocolate Fountain with a variety of dippers and seasonal fruit display
Adults: $24.95 Kids ( 5 to 12): $10.95 Kids Under 4: FREE
   To Make Reservations:    708.478.7230
Info: jhsweiscatering.com

Hope these suggestions prove helpful to everyone and assist you in finding Ways to Celebrate Mother's Day, May 12th, 2013 In & Around Chicagoland ...

Best Wishes to all!

* Dreaming of buying a home in New Lenox, Will or DuPage County, or elsewhere in the great Chicagoland region? Contact me! I'll put my 36+ years of mortgage experience and expertise to work on your behalf.

I can be easily found at any of the following:

Direct: 815.524.2280

Cell: 708.921.6331

eFax: 815.524.2281 Skype: 630.219.1316

FREE Consultation

You are Invited to FOLLOW ME through any of the Social Media found below

Ready to Apply for Your Mortgage?

Gene Mundt

Regional Manager - Mortgage Lender

Personal NMLS #216987

NMLS # 175656

Helpful Info and Advice for Chicagoland Flood Disaster Victims

Gene Mundt Mortgage Lender Chicagoland Mortgage Lending (www.genemundt.com) — Mon, 22 Apr 2013 21:08:00 -0700

Helpful Info and Advice for Chicagoland Flood Disaster Victims

In Illinois, 44 counties have been declared state disaster areas as a result of the recent torrential downpour of rains. Several towns in the Chicagoland area have independently declared a state of emergency as well. Those include the Villages of Lisle and Lombard and City of Elmhurst.

Illinois Governor Pat Quinn made the disaster declaration for the State as of last Thursday night, saying that Illinois emergency resources will be expanded as quickly as possible to assist and meet the needs of the thousand of residents feeling the floods effects.

The damage done by the flood waters has been extensive and Chicagoland area streets, curbs, and refuse bins are cluttered with the proof of that. Cleanup has begun as old, wet, damaged articles and construction materials are removed from homes and businesses.

HOW and WHEN flood cleanup is performed is very important. Contaminated, wet materials should be removed as soon as possible from all buildings. De-humidifiers should be utilized to handle moisture and humidity after wet materials are removed.

Flood waters can have contaminates within them. Raw sewage or other harmful substances may be found in the water, so measures must be taken for protection. Special protective-wear should be worn while performing cleanup.

Among the protective gear needed are:

Goggles that do NOT have ventilation holes
Water-resistant gloves, boots, or work shoes
Long pants and long-sleeved shirts
An N-95 respirator (sold in most hardware stores)

     The idea is to keep bacteria off your skin and mold/mold spores out of your lungs. Wash all dry hard surfaces with soap/detergent or a commercial cleaner and then allow to dry thoroughly, especially if water has been sitting on surfaces for over 48 hours. Molds starts to form and appear during that time period.

   Remember to wash your hands with disinfectant or disinfecting soap often while performing cleanup, especially if you stop to drink or eat something. Do NOT smoke while performing your cleanup tasks, as sewage and gases may have escaped while flooding occurred and entered flood waters.

     Try to limit direct contact with flood waters, as cuts and open wounds can become easily infected. This is especially true should you have a septic system.

    Stay informed and aware of any local public health announcements regarding your water source and water environment. Boiling water prior to drinking and use may be suggested during specific times.

   Do not try to heat or dry out a flooded home, garage, shed, or business with combustible heat sources or portable generators. If you use a portable generator, place it outside and far away from your home.

   People can be sensitive to molds. Molds can cause nasal stuffiness, skin and eye irritations, wheezing, and more. Molds can cause even more severe reactions such as shortness of breath and fevers in some people, especially the very young and seniors. Should symptoms develop, get to a doctor immediately.

   In the State of Illinois, the Dept. of Public Health is providing local public health departments, hospitals and medical offices in flood areas with info on tetanus shots. The American Red Cross has opened a shelter in Lisle to continue the assessment of need for shelter(s) and other assistance. The State Fire Marshal is coordinating with fire departments to assess flood-related issues.

   With more rain being called for in the Chicago-area forecast, it would be wise to prepare and keep an Emergency Disaster Kit in an easily-carried container or bag handy. By doing so, you will have basic survival items together, should emergency situations, such as flooding, arise in the future.

     Helpful Info and Advice for Chicagoland Flood Disaster Victims. Click HERE to find the emergency items suggested by the Illinois Terrorism Task Force ... and stay safe ...

   * Please contact me, if you are in need of mortgage advice, guidance, and assistance in New Lenox, Will or DuPage County, or elsewhere in Chicagoland.
   I can be easily found at any of the following:

Direct: 815.524.2280

Cell: 708.921.6331

gmundt@goapmc.com

www.genemundt.com

eFax: 815.524.2281 Skype: 630.219.1316

FREE Consultation

You are invited to Follow Me through

any of the Social Media found below.

Ready to Apply for Mortgage?

Gene Mundt

Regional Manager - Mortgage Lender

Personal NMLS #216987

NMLS # 175656

Protecting a Child's Identity has Become More of a Challenge and Increasingly Important for Today's Parents.

Gene Mundt Mortgage Lender Chicagoland Mortgage Lending (www.genemundt.com) — Fri, 19 Apr 2013 16:02:03 -0700

Protecting a Child's Identity has Become More of a

Challenge and Increasingly Important for Today's Parents.

In the last two or so years, my wife and I have become grandparents twice. Suffice it to say, "things have changed" a bit since we had our two babies ... now parents of their own at 33 and 29 years old.

   Back when Marilyn and I had our two boys, we thought that as parents we were pretty on top of things when we got them their own Social Security numbers fairly early on. We thought we were ahead of the curve.

     Now? Babies are routinely given Social Security numbers at the time that Birth Certificates are applied for. Typically that occurs right in the hospital.  (If you did not receive a SS# for your child upon their birth and you are in need of a SS# for your child, follow these instructions.)

   In most families, the child's Social Security number then remains unchecked for years ... perhaps until the child applies for their first credit card, hope to finance a car purchase, or need student loans for college.

     Identity thieves are counting on that too. Identity theft using babies/children's Social Security numbers is on the rise. Over 140,000+ such thefts occurred last year.

   So how should a parent go about protecting their children from identity theft?

First and foremost, store Social Security card(s) and number(s) in a safe place, such as a safety deposit box or safe.
Do NOT give a child's SS# number or Birth Certificate to anyone unless you have to. (Know that typically, other forms of identification outside of the child's SS# are acceptable for use in most instances, including medical.)
Ask any organization or company requesting your child's SS# or Birth Certificate, how they're protecting the information/data they receive from you. How are they using it? Why do they need the SS# or Birth Certificate, not some other form of ID?
Shred all documents that have personal information regarding your child on them prior to throwing them away.
Do not keep old documents/forms of any kind past the time you're actually utilizing them.
Periodically check with the fraud divisions of the 3 major Credit Bureaus (Experian, Equifax, TransUnion). Credit reporting agencies typically do NOT keep credit reports for minors. Should one of the Credit Bureaus have a report, it is a sign that your child's identity has been compromised.
Monitor your child's online and social media habits. Online methods of gaining identity information are growing and increasingly advanced.
Teach your children about online and social media safety ... to never give personal information out, and report to you should anyone ask for it.

What do you do if you find that your child's identity has been compromised? Follow these steps:

Immediately contact your local police and file a police report. Bring any documents, bills, collection notices, etc. that you might have received as proof that your child's identity has been stolen.

Please note: According to federal law, credit issuers and collection agencies must make these documents available to the victim/parent when a police report has been submitted with the written request.

Contact the Federal Trade Commission (FTC). Place a Fraud Alert on your child's Credit Report.
Provide a copy of the police report regarding your child's identity theft, along with a request for a copy of your child's credit report, to all three of the Credit Bureaus.
Contact the fraud departments at any store(s) or company where identity thief is reported on a Credit Report to have taken place in your child's name. Ask them to close the account immediately.
Consider a Credit Freeze until the identity theft has been cleared up.
Keep meticulous records of your actions.
Continue to monitor your child's Credit and identity periodically and consistently in the future.

     Yes, "things have changed". Protecting a child's identity has become more of a challenge and increasingly important for today's parents. Awareness regarding the topic of identity theft is their first line of defense.

   * Hoping to Buy or Refinance a home in New Lenox, Will or DuPage Counties, or elsewhere in the Chicagoland area? Contact me well in advance. I'll check your credit report for errors, identity theft, or to help you improve your credit scores.
     I can be easily found at any of the following:

Direct: 815.524.2280

Cell: 708.921.6331

eFax: 815.524.2281 Skype: 630.219.1316

Ready to Apply for your Mortgage ?

You are Invited to Follow Me through any of the Social Media below:

Gene Mundt

Regional Manager - Mortgage Lender

Personal NMLS #216987

NMLS # 175656

A Mortgage Program is Just a Tool

Gene Mundt Mortgage Lender Chicagoland Mortgage Lending (www.genemundt.com) — Tue, 16 Apr 2013 12:08:54 -0700

A Mortgage Program is Just a Tool

     My wife and I have become fans of the HBO series, "Boardwalk Empire". Set in Atlantic City during the Prohibition Era ... the action, plot, characters, and scenery within this series are rich, complicated, historic, entertaining, and sometimes downright brutal.

     Now I bet you're wondering, "what does the "Boardwalk Empire" series have to do with Mortgage Lending?" Let me try to explain ...

     Recently I wrote a blog about 97% Conventional Financing once again becoming an option for Buyers to consider when purchasing a new home. An option that might be especially attractive to someone hoping to avoid FHA's recent rise in costs ... or FHA rules regarding Condominium projects.

   The comments I received regarding my post were generally positive. But a few commenting seemed a bit fearful that this Mortgage Program's low down payment requirement could be like re-opening a "can of worms". Their fear was: Low down payment = little "skin in the game" for new Buyers. Little "skin in the game" = increasing likelihood of default or future foreclosures. All that = Here we go again!

   Personally, I think the current stricter Underwriting Regulations address much of that worry. It's simply not as easy to choose or be placed in mortgage programs that are risky now in comparison to years ago. Typically I hear the complaint that Underwriters and Lenders are now TOO strict, not the opposite.

   This is where a scene from the show "Boardwalk Empire" comes into play. I believe the scene proves a point and is a great analogy for the 97% Conventional Mortgage Program and its use (as well as other Mortgage Programs).

   In the scene I refer to, one of the show's characters is sitting in his garage workshop. He's surrounded by handyman tools of all kinds. In walks another series character. A conversation ensues between the two men in the garage. Then an argument breaks out. Fearful of what actions his visitor might take or what he might say or reveal to others, the first man picks up a large wrench, hits the other man with it and kills him.

   But here's my question ... is it the tools fault that it was used so cruelly or incorrectly? Or is it the fault of the man using the tool in this manner? I believe it's the man's. His faulty decision to utilize the tool in the manner he did is the culprit, not the tool itself.

The same can be said for Mortgage Programs. They are options to be considered. There's good, bad, helpful, and less positive aspects for each to be measured and weighed. That's the responsibility of a Mortgage Lender. A good Lender knows the Mortgage Programs they have at their disposal and all the differing features of each Program. And they know how they pertain and will work/not work for their clients and their financial scenario.

     A Mortgage Lender has a responsibility to present available options to their clients. To explain and discuss the pros and cons of those Programs thoroughly, so their clients understand them and can make an educated decision as to which Mortgage Program they'll utilize for their financing. Any Mortgage Program can potentially be a wise/unwise choice and can be utilized for good/bad results.

     A Mortgage Program is just a tool. Used properly it completes a task successfully and builds a sound financial future. Used improperly, and work remains to be completed or repairs will be needed.

     I believe the analogy I relate using "Boardwalk Empire" proves just how vitally important it is for them to have done their research and homework when choosing their Mortgage Lender. How important it is for clients to be educated and totally involved in the direction/choices made within their mortgage financing and processing from beginning to end.

     If clients do their preliminary homework well, they'll have the benefit and knowledge of an experienced Mortgage Lender at their disposal throughout their transaction. A Mortgage Lender that has a fully-equipped tool box of mortgage options for them to consider, choose, utilize, and to benefit from.

* Want to discover the financing options available to you when you Buy or Refinance your Chicagoland home? Contact me! I'll put my 36+ years of mortgage experience, knowledge, and expertise hard to work on your behalf. Together we'll find the best Mortgage Program for your personal financial scenario.
I can be easily found at any of the following:

Direct: 815.524.2280

Cell: 708.921.6331

eFax: 815.524.2281 Skype: 630.219.1316

You are Invited to Follow Me through any of the Social Media below.

Ready to Apply for your Mortgage?

Gene Mundt

Regional Manager - Mortgage Lender

Personal NMLS #216987

NMLS # 175656

Once Again an Option for Home Buyers: 3% Down Conventional Financing Program

Gene Mundt Mortgage Lender Chicagoland Mortgage Lending (www.genemundt.com) — Mon, 15 Apr 2013 12:27:51 -0700

Once Again an Option for Home Buyers:

3% Down Conventional Financing Program

There's no doubt about it, Financing has been tighter over the last few years. And, that's as it needed to be. But it's my opinion, that we are beginning to see some movement towards "loosening" of the tight standards that have now become the norm.

That impression was backed-up by an article I found today in the New York Times entitled, "Signs of Easier Money for Mortgages". The author of this article speaks of a revival of some types of mortgage programs not seen since prior to the housing and financial downturn ... and how this revival made home buying easier for some they write about.

   One such financing option recently re-introduced, is the 3% Down, Conventional Loan Product. This loan products delivers the opportunity to borrow 97% of a Sales Price or Appraised Value back onto the option menu for Borrowers. First introduced over 2 decades ago when Mortgage Insurance was readily available, this product has been re-introduced now that housing values have stabilized within many housing markets.

   Why is this so important? Why discuss this financing option?

First, the timing of this re-introduction couldn't be better.
For those considering entering the market, either for the first time or for "Boomerang" Buyers (those having suffered through a Short-Sale, Bankruptcy, or Foreclosure), this Mortgage product's lower down payment may open up opportunity for them to buy a home sooner than later.

   Also, FHA, the 3.5% Down financing program, recently enacted "tightening" measures and costlier guidelines due to their budgetary and fiscal needs. In other words, they are trying to watch their pennies and curb losses.

     Over the last few years, FHA has definitely tightened their standards in the Condominium market. Condominium Projects that were once approved, are no longer eligible for FHA-insured financing currently. (See my recent post re: Condos & Townhomes).

     Everyone within the real estate and financing industries (plus many unhappy Condo owners unable to sell their Condos) know all too well the impact that the tightened guidelines have hadon the marketability of Condominiums. So it's good news that Conventional Financing with as little 3% Down has returned as an optionfor Buyers ... and on Condominiums, IF certain conditions are met. In other words, the Condo properties and their financing must be considered warrantable (acceptable) and able to be placed with Fannie Mae or Freddie Mac.

     While it remains true that Condominium Associations must be healthy enough to qualify in this Conventional Mortgage Program, the availability of this Mortgage Program signals the Buyer's ability to consider more options for Condo Financing. IF financing options become more available for Condominium Buyers, the increased financing flexibility will create higher demand for these properties. As a result, Condominium values will stabilize and improve for thousands of Condo Owners across the U.S.

     The good effects will continue to trickle down. As more Condominium Units become "Owner-Occupied" (as opposed to tenant-occupied, vacant, foreclosed, or short-saled), the more healthy Condominium Associations become. And that means Condo Association DUES are once again paid on time. Which of course means the Condo Association BUDGETS are stronger and healthier too. Repairs, upkeep, and more are performed on the properties on time.

     All these pluses trickling down also means that Mortgage Lenders will be more likely to approve even more Condominium Buyers seeking financing in the future.

Keep in mind that this 97% financing option still has high standards that must be met.

Here are the highlights of the 3% Down Conventional Financing Program:

Minimum Credit Score of 680 or greater
Debt-to-Income Ratio of 43% or less
Owner-occupied properties only
No Second-Home or Investment Property purchases
Borrower(s) own funds. (No Gift Monies allowed)
Maximum Loan Amount is $417,000
Requires Mortgage Insurance approval

Although higher credit scores are needed by the Borrower, as well as lower debt-to-income ratios, this financing program serves as a viable option for Borrowers hoping to avoid utilizing a FHA loan and it can openup a larger choice of properties that will be considered for purchase.

It's my opinion that right now, Buyers having more property options to view and consider ... and also having more financing options with which those properties can be purchased, is all very good news ...

* Want to know what financing options are available to you? Need to know if you are eligible to Buy or Refinance a home in New Lenox, Will/DuPage County, or elsewhere in Chicagoland? Contact me today! I'll put my 36+ years of mortgage experience and expertise to work on your behalf.
I can be easily found at all the following:

Direct: 815.524.2280

Cell/Text: 708.921.6331

eFax: 815.524.2281 Skype: 630.219.1316

You are Invited to Follow Me through any of the Social Media found below.

Ready to Apply for Mortgage?

Gene Mundt

Regional Manager - Mortgage Lender

Personal NMLS #216987

NMLS # 175656

How to Determine if You're Viewing a Condominium or Townhome

Gene Mundt Mortgage Lender Chicagoland Mortgage Lending (www.genemundt.com) — Fri, 12 Apr 2013 10:32:27 -0700

How to Determine if You're Viewing a

Condominium or Townhome

Townhome ... or Condo??

What are the differences between the two? And what do those differences mean to you now ... and in the future ... should you be an Owner or are thinking of becoming one? And what should you do, if an Agent and asked to represent a Buyer or Seller of a Condominium?

Fact is, you can't tell the difference between a Condo and a Townhome just by looking at them. It's not style, design, or physical characteristics that determine the answer. It's an OWNERSHIP ISSUE.

Here's facts regarding each type of property:

Condominiums

No Lot or land is owned by a Unit owner
The land is common, typically under one shared tax parcel number (PIN). Individual Units are then identified by additional suffix, or set of numbers; other than 0000.
Property MUST be declared as a Condominium in the form of Legal Description and recorded declarations.
Typically have "common" insurance on the structures.
Condos have a greater degree of internal control, rules and regulations as opposed to townhomes or PUD's.

Townhomes

Typically exist in areas known as "Planned Unit Developments," (PUD) and a Lot is clearly defined in a Subdivision Plat and by an individual survey.
Unit owner owns a Lot and the structure must be ground level minimally, and can be multi-level.
The PIN resembles that of a detached Single-Family Residence.
Townhomes are a term used to describe a type of housing design (typically attached).
A "Townhome" unit, i.e. design and not legally described as such, CAN be located within a Condominium Complex if there is not Lot ownership for that Unit.

     My tips for Realtors considering showing or thinking of representing a Seller of a Condominium/Townhome property are the following:



     As a Listing Agent: Request the Seller provide copies of the following to you:

Tax Bill
Survey (if one exists)
Declarations/Bi-Laws for the Homeowners Association
Name & Contact Info for: The Homeowners Association
Legal Description (from a Title Policy, Mortgage, or other Closing Documents)

As a Buyer's Agent: Review the Listing Agreement for the usual indicators:

Property Type
HOA Dues
PIN
Ask the Listing Agent to provide clarifications as listed above

Use your local MLS, Recorder's and Treasurer's websites, your preferred Mortgage Lender, FHA and VA websites ... to determine type and eligibility for varying financing options BEFORE you show properties ... and most definitely BEFORE you write a contract.

In each and every case, ask the Owner of the property to provide the Legal Documents from their last Closing. Read the Legal Description ...

It if refers to Condominium in the language of the Document, it will 99.9% of the time, be a Condominium.
If it refers to PUD, (Planned Unit Development), Townhouse Association, etc ... you have a property NOT considered to be a CONDO, but rather a Townhouse.

     Should you be a potential BUYER of a Condominium or Townhome property, it is my strong suggestion that you NOT sign a Real Estate Contract until you know for sure which type of property you are transacting.

     This is a prime example of where working with an experienced Mortgage Lender and Agents, with in-depth expertise and knowledge regarding Condominium and Townhome transactions and financing, is vitally important. Do your homework and find the best and most experienced professionals you can.

   The purchase and sale of a Condominium has changed vastly in the last few years. Current market conditions often make them extremely difficult to sell. Guideline requirements can make them even more difficult to qualify for mortgage financing.

   However, Condominiums can still be a safe and profitable market to enter and represent, if basic ground rules are known and followed when transacting properties. Knowing How to Determine if You're Viewing a Condominium or Townhome ... and understanding the info provided above will definitely help pave that way.

* Thinking of Buying or Refinancing a Condominium or Townhome property in Joliet, Will County, DuPage County, or elsewhere in the Chicagoland area? Contact me today! I will put my 36+ years of mortgage experience and expertise to work on your behalf.
I can be easily found at any of the following:

Direct: 815.524.2280

Cell/Text: 708.921.6331

eFax: 815.524.2281 Skype: 630.219.1316

You are Invited to Follow Me through any of the Social Media found below!

Ready to Apply for Your Mortgage?

Gene Mundt

Regional Manager - Mortgage Lender

Personal NMLS #216987

NMLS # 175656

Warning: Credit Bureaus Don't Forgive or Forget Quickly!

Gene Mundt Mortgage Lender Chicagoland Mortgage Lending (www.genemundt.com) — Wed, 10 Apr 2013 09:23:19 -0700

Warning: Credit Bureaus Don't Forgive or Forget Quickly!

Today, I am frustrated ...

     And the scenario over which I am so frustrated has now popped-up a few times within a very short time.

     What's the scenario?

   Multiple new clients have contacted me for financing. Both purchase and/or refinancing assistance has been requested. Many of these clients have related that they have been contemplating taking action for a quite a while. Great! So what's frustrating about all of this?

   A handful of these clients have made late payments on a car or missed credit cards payments recently. All while contemplating a home purchase or new financing! When I asked about the missing/late payments that showed on their credit report, each has made the same remark, "but I caught up on my payments!"

   Aaaaaggghh!!

     My message here today is this: Just because you "catch up" on late or missing payments ... or your billings no longer show you're in arrears ... it does not mean that no damage has been wreaked on your credit scores ... or your borrowing power has not become more limited. Because it does and it has!

Late and missed payments show on your credit report, are reflected in your credit scores, and can limit your options in financing, well after you "catch up" on payments. I can't tell you how many times I warned my own kids about this ...

It takes a long time to BUILD good credit ... but it can be DESTROYED unbelievably quickly ...

     I liken it to a cut or a bruise on your body. The scar or discoloration of each lingers well after the actual damage and pain first associated with it is gone.

   Credit Bureaus do not "forgive and forget" quickly. Potential Home Buyers (and those contemplating a Refinance) need to be aware of this fact ... be respectful of it, and conduct their finances accordingly. Especially if they are contemplating a home purchase or Refinance in the near future.

     The forgetfulness of my clients ... their financial/credit "hiccups" ... will be costly for them in a myriad of ways. Time will most definitely be lost while we work on repairing their credit. (One may lose out on the home they hoped to buy because of the extra time element now involved in their transaction.) Other "costs" may trickle down because of that lost time. Remember that home prices are on the rise in most markets and Interest Rates have gone up and down too.

     Please: If you're considering the purchase of a home ... or hoping to Refinance the mortgage you presently have soon or within the next year, use my clients as a warning and credit reminder for yourself.

     Stay diligent regarding your monthly payments, the dates those payments are to be made, and your credit standing. You'll be glad you did ...

* Hoping to Buy or Refinance a home within New Lenox, Joliet, Will/DuPage County, or elsewhere in Chicagoland? Not sure what your credit scores are? Contact me today! I'll put my 36+ years of mortgage experience and expertise hard to work on your behalf.
I can be easily found at any of the following:

Direct: 815.524.2280 Cell/Text: 708.921.6331

eFax: 815.524.2281 Skype: 630.219.1316

Fox Ridge Park - 19740 Telluride Lane, Mokena, IL

You are Invited to Follow Me through any of the Social Media found below.

Ready to Apply for Your Mortgage?

Gene Mundt

Regional Manager - Mortgage Lender

Personal NMLS #216987

NMLS # 175656

Things to Do in the Lincoln-Way Area - April 2013

Gene Mundt Mortgage Lender Chicagoland Mortgage Lending (www.genemundt.com) — Tue, 09 Apr 2013 12:19:10 -0700

Things to Do in the Lincoln-Way Area - April 2013

What is known as the Lincoln-Way Area ... a 105-square mile region located within Will County, IL ... has 4 vibrant and very active communities within its borders: Frankfort, Manhattan, Mokena, and New Lenox.

Below you will find activities and events taking place within the Lincoln-Way Area during April, 2013:

Things to Do during April in the Lincoln-Way Area:

Saturday, April 13th - 10:30 am Start

Grand Opening of Fox Ridge Park

FREE - ALL Ages

Mokena Park District sponsoring:

Flying 4 Kids Kite Fly immediately after the Grand Opening!

Weather Permitting - 1st 50 children receive a kite-making kit

More Info: Mokena Park District

Things to Do during April in the Lincoln-Way Area:

Saturday, April 13th - 8 am to 4 pm

New Laraway Road Flea Market

2467 E. Laraway Road, Joliet, IL

FREE - 50 Vendors

Woodcrafts, Jewelry, Homemade Soaps, Tools, Antiques, More

www.thelarawayfleamarket.com

Things to Do during April in the Lincoln-Way Area:

April 14th & April 21st - 9 pm to 1 am

Battle of TheBands @ 191 South

191 South, 10160 191st Street, Mokena, IL

New Band Tryouts! Grand Prize Awarded!

More Info: www.191south.com

Things to Do during April in the Lincoln-Way Area:

Spring Wine Tasting - Frankfort Park Dist.

7 to 9:30 pm - Fee: $12

Sponsored by: WineStyles

Founders Community Center, 140 Oak Street, Frankfort, IL

Sample 50 different Wines

Hors d'oeuvres & souvenir wine glass to attendees

Registration is Required by no later than April 16th

Things to Do during April in the Lincoln-Way Area:

Seniors Only for these Performances!

Seniors are invited to attend a complimentary performance of the Spring musicals being offered at the 4 Lincoln-Way High Schools

Tuesday, April 23rd - 4 pm

Lincoln-Way Central HS - "Anything Goes"

LW Central Performing Arts Center

1801 E. Lincoln Hwy., New Lenox, IL

Enter Door #7A

Wednesday, April 17th - 4:30 pm

Lincoln-Way East HS - "Legally Blonde the Musical"

Lincoln-Way East Performing Arts Center

201 Colorado Avenue, Frankfort, IL

Enter Door #40

Tuesday, April 16th - 4:30 pm

Lincoln-Way North HS

"Joseph & the Amazing Technicolor Dreamcoat"

Lincoln-Way North Performing Arts Center

19900 So. Harlem Avenue, Frankfort, IL

Enter Door #46

Wednesday, April 17th - 5:00 pm

Lincoln-Way West HS - "Seussical the Musical"

Lincoln-Way West Performing Arts Center

21701 So. Gougar Road, New Lenox, IL

Enter Door #49

Things to Do during April in the Lincoln-Way Area:

Saturday, April 20th - 9:00 am

Chicagoland Lionel Railroad Club Open House

1311 S. Schoolhouse Road, New Lenox, IL

Interact with Lionel operating accessories using pushbutton operation

See "Thomas the Tank Engine" and his friends!

New Belt Line layout. Chicago "L". CLRC Train house

FREE Popcorn. Pizza, Hot Dogs, Pop & More available

Admission: $2/pp $5/per family Members: Free

www.circtrains.com

Enjoy!

* Hoping to Buy or Refinance a Home within the Lincoln-Way Area, Will/DuPage County, or elsewhere within the Chicagoland region? Contact Me! I'll put my 36+ years of mortgage experience and expertise hard to work on your behalf.

I can be conveniently found through any of the following:

Direct: 815.524.2280

Cell/Text: 708.921.6331

Valuation Analysis for Single Family

eFax: 815.524.2281 Skype: 630.219.1316

Ready to Apply for Mortgage?

Gene Mundt

Regional Manager - Mortgage Lender

Personal NMLS #216987

NMLS # 175656

What are Appraisers Looking For in Current Chicagoland FHA Assignments?

Gene Mundt Mortgage Lender Chicagoland Mortgage Lending (www.genemundt.com) — Mon, 08 Apr 2013 10:57:40 -0700

What are Appraisers Looking For in Current Chicagoland FHA Assignments?

     FHA loans have been gaining a lot of attention as of late. As of April 1st, FHA annual mortgage insurance premiums rose on the majority of FHA loans by 0.1%, or 10 basis points.

     Still, even with the rise in cost, FHA is a viable option for many potential Buyers to consider for mortgage financing. With that said, as with all financing options, the final choice (and wisdom) of mortgage program lies in the individual applicant's personal financials and credit ... and is something that needs to be thoroughly discussed and weighed by the applicant and their Mortgage Lender.

   But once the decision to move ahead with FHA financing is made ... what then?

   This has been of great interest to many of the agents I work with, along with their Buyers. Many questions arise, but frequently both want to know, "What it is that Appraisers are currently looking for on Chicagoland FHA assignments?"

   The answer is: There is no punchlist or checklist for "do's" and "don'ts" regarding repairs or replacement of items within a property. The reports I see have become more representative of a common sense "judgment call" by the Appraiser assigned to the case.

   I know that sounds much like a cop out and a non-answer. But the reality is that FHA's stance has evolved over the last few years and has migrated away from the nit picky minor repairs that Lenders and Agents in the Chicagoland region had become all too familiar with. That's not to say that a property's peeling or chipped paint won't need to be scraped or re-painted. Or that missing smoke detectors won't need to be installed. They still do and they will be asked for.

     But the fact of the matter is, Appraiser's current requests are now based more upon safety, sanitary concerns, and soundness of the property. Unnecessary inspections are typically a thing of the past.

   In my opinion, the attention and job of the Appraiser has shifted and is now once again focused on the Subject Property's value. (Rightfully so.) Home inspection issues are left to Home Inspectors. The appraising has returned to being a bigger assignment than just "looking for repair issues".

   To help you better understand the focus of Appraisers during FHA assignments, I have attached a link to the more pertinent pages of the nearly 150 pages of reference on this topic found in HUD Guidelines. I believe this information can be of real value and help to Realtors when representing their Sellers and Buyers ... and in communicating with Appraisers and Mortgage Lenders.

One - to Four - Unit Dwellings (4150.2)

Requirements for Existing Housing

One to Four Family Units (4905.1)

I hope that this information, list of considered repairs, and checklist of property requirements proves helpful. As always, should you have questions ... please contact me with your questions or for clarification.

* Wondering if a FHA mortgage is an option for you when Buying or Refinancing a home in New Lenox, Will/DuPage County, or elsewhere in the Chicagoland area? Let's talk! Contact me today ... we'll put my 36+ years of mortgage expertise and experience hard to work on your behalf ... and discover the best financing options for you now and in the future.

I can be conveniently found at any of the following:

Direct: 815.524.2280

Cell/Text: 708.921.6331

eFax: 815.524.2281 Skype: 630.219.1316

You are Invited to Follow Me through any of the following Social Media:

Gene Mundt

Regional Manager - Mortgage Lender

Personal NMLS #216987

NMLS # 175656

Early Warning App for Your Smartphone- Let's Hope You Never Have to Use It.

Gene Mundt Mortgage Lender Chicagoland Mortgage Lending (www.genemundt.com) — Sat, 06 Apr 2013 09:16:53 -0700

Attention all Smartphone Owners!

Being from the Midwest ... the Red Cross Tornado APP download available within Kathy Streib's post could come in handy.

But tornadoes can occur almost anywhere, not just the Midwest region of the U.S., if the conditions are right. So I'm passing this handy, timely, and important APP on to as many as possible, so they have access to it, its information, and its services. Especially heading into another Tornado Season.

Thank you, Kathy Streib, AR Member, "Room Service Home Staging" located in Palm Beach County, South Florida ... for passing this important Smartphone APP on to all. Hopefully no one ever needs to use it!

Gene

Via Kathy Streib-Home Stager-Palm Bch County South Florida - 561-914-6224 (Room Service Home Staging):

Early Warning App for Your Smartphone-Let’s Hope You Never Have to Use It.

I am an “app junkie”....I love trying apps on my iPhone to see what works, what’s fun, and what just needs to be deleted. Admittedly, not every app no matter how useful is for every user.

Yesterday when we were in Naples, FL for a day trip I “heard” from the Red Cross App that I’d just downloaded about a month ago.   The sky was overcast and it looked as if we would get rain or even some thunderstorms very soon. However, as I was standing in one of the boutiques on 3rd Street...my new little app sent me an alert.

We were under a Tornado Watch. By the time we’d walked to our car to head back home across Alligator Alley, there were tornado watches and thunderstorm warnings all along South Florida.

The American Red Cross Tornado App is available for your iPhone or Android Smartphone. You can download it and then forget about it, which is what I did.   It will :

*Tell you what you need to do in case of a Tornado.

*Emit an audible sound even if the app is closed in the event of a Tornado Warning.

*Provide locations of shelters

*Provide a tool kit within the app that provides a flashlight, audible sound and strobe light.

*Provide a customizable “I’m safe” message to family and friends via email, text or social media.

But... that’s not all. You can download Wildfire, Hurricane, Earthquake and other warning apps.



Check out my about.me profile!

Room Service! Home Staging
Palm Beach County Home Stager

561-914-6224   Kathy@MrsHomeStaging.com
www.MrsHomeStaging.com

Gene Mundt

Regional Manager - Mortgage Lender

Personal NMLS #216987

NMLS # 175656

"Will the Mortgage Process Get Easier Soon?"

Gene Mundt Mortgage Lender Chicagoland Mortgage Lending (www.genemundt.com) — Fri, 05 Apr 2013 14:23:27 -0700

"Will the Mortgage Process Get Easier Soon?"

     I'm questioned about the topic of mortgage processing all the time. But probably the question I hear most often, especially from those within the industry is, "Will the mortgage process get easier soon?"

   It'd be easy to give a quick answer ... and say "yes" or "no". But truthfully, I believe the answer is really ... "maybe".

   After reading yet another news article on this topic just this morning, ("When Will Mortgage Lending Standards Ease?" by Tim Manni, U.S. News & World Report), I thought it time to broach the subject again.

   Within the article above, it gives the author's opinion on a list of actions that must take place in order to cause (positive) changes within current lending standards. I'm sure all the items mentioned on this list can and will be debated as to IF they will ever happen, or at minimum, WHEN they might happen. My personal opinion is that even if things change on this scale, it'd be quite a while before we see results from those changes.

   Those considering Buying a Home (or Refinancing) have the power to control some of their own destiny regarding the mortgage processing services they experience and receive. There ARE steps they can take to insure a faster, smoother mortgage process.

   Now some will say that what I tell you here is self-serving. I'm a Mortgage Lender. And that would be true, for I firmly believe that there are differences to be found within the mortgage service(s) and guidance I offer and that of other lenders. But that said, this is also true ...

   There are Mortgage Lenders that have soaked-up and retained vital information, learned valuable services, and honed tools while navigating their clients during the last few years of more strict Underwriting regulations. And there are others that have not. Here's a few ways to measure ...

   A good Mortgage Lender provides potential mortgage applicants guidance and assistance well prior to actual Mortgage Application. They answer questions thoroughly. Spend the time necessary to educate regarding the process and how it transpires. They assist in every phase leading up to application. Credit Repair. Documentation needs. They help their clients become the best mortgage applicant possible.

     A good Mortgage Lender has learned from prior Underwriting experiences to anticipate what Underwriters typically request during certain mortgage financing scenarios. And they will have prepared themselves, their files,their clients, and the other professionals within the transaction for those Underwriting requests in advance.

     By doing that, the good Mortgage Lender eliminates many last minute issues from arising. The Lender cuts down on the stress level for all involved within the transaction. They save time. They meet deadlines and set contract dates. They can save money. They can save entire transactions from falling apart.

   The good news regarding this is ... You as the potential Mortgage Applicant retain and have complete control over who you choose as your Mortgage Lender. You don't need to feel like a human pinata during your mortgage processing. You are not defenseless.

     Use the power at your disposal! Flex your muscles! Put yourself in the driver's seat! Take the time and make the effort to find the very best Mortgage Lender possible for you and your needs. Seek referrals. Check references. Ask questions. It makes a huge difference as to the speed, quality, success, and level of enjoyment you experience while in the mortgage process for your home.

   "Will the mortgage process get easier soon?"

     Yes! No! Maybe! You help decide ...

* Hoping to Buy or Refinance a home in New Lenox, Will/DuPage Counties, or elsewhere in the Chicagoland area? Contact me today! I'll put my 36+ years of mortgage expertise and experience hard to work on your behalf.
I can be conveniently found at any of the following:

Direct: 815.524.2280

Cell/Text: 708.921.6331

eFax: 815.524.2281 Skype: 630.219.1316