Breaking Down Monthly Payment Estimates for Borrowers
When prospective borrowers first contact me, their main focus is often on the following 3 things ... What their prospective total monthly housing expense will be What money they'll need to buy/finance a home The chances of their being approved for a mortgage They have a laserlike focus on these 3 facets of the process. As a result, I typically find it's best to immediately address their concerns.
Subsequently, a discussion regarding those elements that contribute to their future total housing expense/monthly payment ensues. Mentally this "frees" them and allows them to move on to the other important aspects (21 comments)
The topic of Property Assessments (and taxes) are vitally important for Buyers to understand throughout every step of the buying and mortgage process ... from the choice of homes to view and consider for purchase, to mortgage pre-approval, to figuring escrows, to Closing. Choice of Lender is important ... and it's one area where I humbly state that my experience and background of 25+ years of Real Estate Appraising serves my clients and professional referral partners extremely well. I know Illinois ... and specifically Chicagoland County/Municipality taxing bodies and systems like the back of my hand. That knowledge and expertise serves them (4 comments)
In Chicago-area "collar counties" (Will, Grundy, Kane, Kendall, DuPage, Lake, and others), Real Estate Tax Bills are paid in 2 equal installments around June 1st and September 1st each year. Mortgage Closings for Real Estate Contracts being transacted during the month of March, will most likely occur in April ... with their first Mortgage Payments due June 1st, the same day the 1st Installment of Tax Payments are due within these counties. How does this effect your Mortgage Closing (3 comments)
Will County IL Property Tax Bills Were Mailed May 2nd, 2014
Will County(IL) property tax bills were mailed to property owners on May 2nd, 2014. These bills represent taxes owed for the year 2013. The first installment of Will County taxes are due on June 2nd, 2014. The second installment will be due on September 2nd, 2014.
Will County has made several options available to property owners for convenient payment of tax bills. Those options are: Online payment of Will County taxes can be made at: www.WillCountyTaxBill.com ... through (1 comments)
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 (8 comments)
Helpful Info & Hints for First-Time Homeowners Filing 2012 Taxes
By now, you should have received the end-of-year information you need to file your 2012 taxes. If you were a new First-Time Home Buyer during 2012, this year will be your first opportunity to claim any tax savings available to you through your homeownership.
* Hoping to join the rank of Home owner ... or discover the benefits of owning your own home? Contact me today! We'll work together to get you on the best and most speedy path to home ownership possible. (21 comments)
The topic of property taxes is always an important one when speaking to my clients ... either because it will show as a proration needing to be paid on their home purchase ... or because it effects their escrow account for future monthly payments. What property taxes do or pay for ... and the perception of such, are often two completely different things. But the fact is, that in Illinois ... local governments alone levy and collect property taxes.
Think Your Property Tax Bills are Too High? Attend My FREE Real Estate Property Tax Reduction in IL Seminar, July 25th in Naperville Frequently, I am asked in my capacity as a Mortgage Lender ... "What, if anything, can I do about my high real estate taxes?" The answer they really seek, lies in their real estate property's ASSESSMENT, not their tax bill. It's the assessment of a property's value that must be addressed in order to find tax relief. The good news is, I'm finding when working (6 comments)
Illinois has a few great options aimed directly at helping senior homeowners living within its boundaries. One of those beneficial options, called the Senior Citizen Real Estate Property Tax Deferral Program, allows property tax relief to Illinois residential property owners 65 and over. In order to be eligible for this particular program, a senior must own property within the State of Illinois and have an income under $50,000 for the tax year. This property tax deferral program allows individuals that fall within that perameter the opportunity to defer 1% to 100% of their property taxes at 6% simple interest. This deferrment may be taken (7 comments)
I know many people are already into the thick of their Holiday shopping or making plans for gift giving and party hosting. Especially in this day and age, planning for the expenditures of the holiday season is extremely important.
It's also true that in the present challenging financial climate "execution" of your holiday plans can be even more important. It's easy to fall into the lure and "trap" of holiday spending! Figuring a budget for holiday spending and sticking to it isn't always easy, but maintaining a level head regarding expenditures protects your finances and credit ratings down the road. (4 comments)