credit: Do You Have Plans for the Weekend? Those Plans Should Include Checking Your Credit - 06/10/19 09:59 AM
 
 Do You Have Plans for the Weekend? Those Plans Should Include Checking Your Credit

Another weekend is just around the corner ... do you have plans?   
 
Silly question, I know.  But even if you already have a boatload of activities on your calendar, carve out enough time to add one more important activity.  
 
Check your credit and credit scores!    
   
It only takes a couple of minutes to request your free Credit Report on  annualcreditreport.com. You fill out a simple form and "viola"!  It's really pretty easy peasy.  
 
While this one simple act is accomplished quickly and easily, it's well worth doing as it reaps you long-term benefits.  So … (28 comments)

credit: Taking The Mystery Out of Credit Score Calculations - 05/29/19 12:21 PM
 
 
Taking The Mystery Out of Credit Score Calculations
 
Credit ... Credit Building ... Credit Repair ... Credit Reports ... Credit Scores ... Credit Scoring ...  
I feel a bit like Bubba in Forrest Gump at times when I speak or write of credit-related things ...
 
 
Why?  
Because such a large number of the questions I receive as a Chicagoland Mortgage Originator revolve around credit and credit topics.   And rightfully so, as credit ... and all things reliant upon credit ... make our world go 'round. 
 
Our credit and our credit standing (via Credit Scores) affect everything about our lives.  From simple and modern daily needs like acquiring cell phones and … (22 comments)

credit: Thinking About Buying Your First Home? How to Prepare - 05/02/19 09:37 AM
 
 
Thinking About Buying Your First Home?
How to Prepare
 
Buying a home ... 
 
While the end result ... a home of your own ... is an exciting thing to ponder, it also can be a bit nerve-wracking, can't it?  
 
All sorts of questions race through your mind once you decide to buy ... 
What do I need to do? What do I need to know? Who are the people that can help me? What kind of credit should I have?  Or money saved? How do I get started?  When will I know I'm prepared? More  
Don't panic!  
 
It's important to remember, there is absolutely no … (17 comments)

credit: NOW is the Perfect Time to Review Your Credit - 02/08/19 10:31 AM
 
NOW is the Perfect Time to Review Your Credit
 
Below you'll find a weather report shared for the Chicagoland area just  recently ... 
 
Rain and thunderstorms are expected today before Chicago temperatures plunge from the mid-40's to single digits ...
 
It's well known that Chicagoland weather is notoriously fickle, but our area residents are a hardy bunch.  Most won't even blink upon reading a weather prediction like the above.  We're pretty used to the craziness ... The recent polar vortex freeze that descended upon the Chicagoland area is a good example of this.  After suffering sub-zero winter temps for days, the local weather quickly changed to an upper 40's … (8 comments)

credit: New Freddie Mac Guidelines Regarding Credit History, Authorized Users and Mortgage Approval - 10/01/18 02:14 PM
 
 
New Freddie Mac Guidelines Regarding Credit History,
Authorized Users and Mortgage Approval
 
Recently, Freddie Mac updated their underwriting guidelines, via its "Bulletin" from September 19, 2018 ...
 
One of the key points documented in this Freddie Mac Bulletin related to Credit Reporting and specifically ... "AUTHORIZED User Accounts".  
 
 
Before proceeding further, it's important to know the definition and role of an Authorized User, as per the 3 major Credit Bureaus.
 
An "Authorized User" (as defined by Equifax) is:
 
In a nutshell, being an authorized credit card user means someone has authorized you to use their credit card account. If you’re added to a credit card account as an authorized user, … (24 comments)

credit: The Impact of Late or Missed Payments. Are You Playing "Catch Up"? - 09/18/18 12:10 PM
 
 
The Impact of Late or Missed Payments
Are You Playing "Catch Up"?
 
As a kid, you probably used it yourself with friends when you said ... "You go ahead, I'll catch up".
 
 
As an adult, it's likely you've said, "I'm playing "catch up" at work" after returning from a long weekend or vacation.  Or upon meeting an old friend, asking them to give you a call so you can "catch up" with each other. 
 
So "catch up" is typically seen as a good thing ... 
 
It has a positive connotation.  It denotes affirmative action will be taken or wrongs will be righted.
 
But there is one place where "catch … (31 comments)

credit: Myth-Busting Mortgage Credit Scoring - 05/08/18 03:38 PM
 
 
Myth-Busting Mortgage Credit Scoring
 
Over the years, Mortgage Credit Scoring has evolved.  It continues to do so at a fairly constant and rapid rate ...  
 
As a result, a large supply and wide variety of updated articles and reports regarding the topic of Credit Scores (Fair Isaac Corporation (FICO) scores) can be found easily pretty much all the time.  The following link provides an example of one of the many articles that I found while doing a quick search today.  It focuses on a new change that may be coming to some consumers' Credit Scores:  
 
"Credit scores may jump this month thanks to new … (27 comments)

credit: The Simple "Cure" that Removes Credit Mysteries - 01/18/17 03:51 PM
 
The Simple "Cure" that Removes Credit Mysteries
 
A large number of credit card companies now offer an opportunity to their customers to see their credit scores.  Consumers receive "previews" of their credit scores via their credit card's monthly statements.
Opportunities to view or receive credit scores are available elsewhere too.  Credit Bureaus, credit monitoring sights, when applying for car loans ... all afford these opportunities to consumers.
These credit scores can serve as a measurement or "ruler" of sorts. When you know your credit score:

You know how well you've paid bills and obligations  How much of your credit availability you've utilized (debt owed) You're alerted to possible … (42 comments)

credit: Is Paperless Billing Right for YOU? - 01/02/17 10:27 AM
 Is Paperless Billing Right for YOU?     
     These days, companies are under pressure to go "green" and become more environmentally friendly.  As a result, an increasing number of businesses are offering their customers a paperless option with which to receive and pay their bills. 
     There are obviously many positives to be found within these paperless services: 

Trees are saved   Reduced postage costs   Less paper documentation to organize or save/store Possible rewards for switching to paperless Payments can often be made/posted same-day Automated payments can be set-up More
     But I can tell you from my vantage point as a Chicagoland/IL/WI Mortgage Originator, … (12 comments)

credit: Credit Reports and History: No One Will Care More Than You - 10/14/16 12:50 AM
 
Credit Reports and History:
No One Will Care More Than You
 
 
     No one cares more about your Credit and credit standing than you ... right?  Or should ...
         While we expect creditors (banks, credit card companies, collection agencies, student loan lenders, medical providers, retailers, etc.) to act on our behalf regarding the recording of transactions, payments, and accounts, it's a fact ... errors occur.  Errors that result in damage to our Credit History, Credit Scores, and our wallets. 
      How's that?  Errors on our Credit Reports have repercussions.  Some errors remain undetected for long periods of time.  But even if short in duration, errors … (26 comments)

credit: Establishing Credit and Building Scores - 04/28/16 04:57 AM
 
Tracy Becker of North Shore Advisory, Inc. Credit Education & Restoration addresses a problem that I see more and more often as a Mortgage Originator ... many younger clients having little credit history when they go to buy their first home.
 
Many of these young hopeful home buyers have avoided establishing credit lines, credit, and debt.  
 
While Lenders' perspective on this issue is changing (slowly) and they have become a bit more "open-minded" to alternative methods of credit and debt measurement, many still want to see a credit history.  And proof of their Applicant's ability to handle debt wisely.  Tracy Becker offers some great … (3 comments)

credit: Millennials: How to Establish Credit Quickly and Easily - 06/19/15 06:15 AM
Millennials: How to Establish Credit Quickly and Easily      
     Credit ... Credit Scores ... they're a big issue, no matter someone's age ...    
   
     But for Millennial-age hopeful home buyers, credit-related issues are of particular interest and importance these days.  I'll add they may be a bit frustrating too ...
     It's been very well-documented:  The job market and financial problems have dogged Millennials.  
     As a result, many have poor credit.  Or have avoided accumulating debt entirely.  They pay cash for every purchase or bill they have.
     Each credit issue presents its own challenge.  Decidedly so when … (49 comments)

credit: Positives Exist Within Today's Mortgage Process - 05/12/15 07:21 AM
Positives Exist Within Today's Mortgage Process 
     Scotsman Guide - May 4, 2015 
     “The data shows that 40 percent of the people getting loans now do not have pristine or perfect credit.”
               Edward Pinto, Co-Director - American Enterprise Institute’s International Center on Housing Risk  
     That's a pretty high percentage ...
     As a Mortgage Lender in the Chicagoland area, I'd agree with that statement too.  
     Few of the homebuyers I speak to have what could be categorized as "perfect" or "pristine" credit.  Many have financial scenarios that need to be addressed (or explained) at some point during … (9 comments)

credit: What Matters Most When Seeking a Mortgage Financing Approval? - 01/19/15 12:00 PM
  What Matters Most When Seeking a Mortgage Financing Approval?              With all the changes that have taken place in the Mortgage Industry over the last few years (and those to come soon), I've come to believe that my job as a Mortgage Lender comes equipped with a text book.  This text book has no last chapter. It has no back cover.  It's never-ending ...
     Even with all the changes though, one constant has remained. That constant? 
     INCOME ...  
     A Borrower's income matters immensely.  It might be said that it even trumps credit.
     According to recent statistics … (10 comments)

credit: My Top 6 Posts - Gene Mundt, Mortgage Lender - 01/09/15 12:07 AM
My Top 6 Posts - Gene Mundt, Mortgage Lender       
     Now that I've been blogging for well over a handful of years, I have a real "library" of articles and topics I've addressed ...  
     During this time I've also had a chance to analyze just which of those topics my followers have thought they gained the most from ... and those posts they found most interesting.
     I've been happy to discover that my readers respond in largest numbers to posts that are educational in nature. Why?  I see informing and educating clients/readers (and my referral partners) as one of … (42 comments)

credit: Credit Don'ts While in the Mortgage Process - 11/07/14 04:28 AM
Entering or Currently Navigating
the Mortgage Process?
 
Don't Even THINK About it!
 
Follow the warnings found on my Flyer below
 

    
     If hoping to Buy, Build, or Refinance a Home in the greater Chicagoland area, please contact me!  I'll put my 37 years of mortgage experience and expertise hard to work on your (or your client's) behalf.
     Thank you!
 
Gene Mundt
Mortgage Lender  -  NMLS #216987  -  IL Lic. #0006220
American Portfolio Mortgage Corp.
NMLS #175656
Direct:  815.524.2280
Cell/Text:  708.921.6331
eFax:  815.524.2281
gmundt@goapmc.comwww.genemundt.com
Click HERE for a FREE Mortgage Quote!
Your Referrals … (21 comments)

credit: Gene Mundt, Mortgage Lender's "Mortgage, Real Estate, & Credit News!" - November 5, 2014 - 11/05/14 02:06 AM

 
 
Did you have snow at your house this last weekend?  Don't know about you, but I'm not ready for it, at least mentally.  But yet, clocks were turned back, we ushered in the month of November, and dragged our winter coats out of the closet over the last week.  So ready or not, here comes winter and the upcoming Holidays!   Below you will find some activities, suggestions, tips, projects, and a recipe to help you prepare and manage the cold weather months to come.     Enjoy!         All The Important Things You Need To Know … (8 comments)

credit: The Hidden Truths Within Bankruptcy Filings - 10/20/14 10:38 AM
 
 
The Hidden Truths Within Bankruptcy Filings

     We've arrived at an unique point in the world of home buying and financing.  It comes on the heels of several years of financial hardships, unprecedented foreclosures, and job losses.    
      These challenges faced have often lead to the filing of Bankruptcy.  What's been contained, or included, in these Bankruptcy filings, are referred to as "Schedules".
     
     First of all, let's understand the "layers" and the timelines involved in a Bankruptcy. 
     First, there is a:  Filing Date.  
     That is followed by a:  Discharge Date, a date that's usually a few months after the Filing. 
     … (8 comments)

credit: Just Like Your Underwear: Credit Needs to be Freshened-Up, Scrubbed, Updated, Fluffed & Changed - 04/18/14 02:35 AM
Just Like Your Underwear:
Credit Needs to be Freshened-Up, Scrubbed,
Updated, Fluffed & Changed           Everything needs to be "freshened up" once in a while.  It needs to be given a trim.  Updated.  Fluffed.  Scrubbed-up.  Changed or re-arranged.
     Credit is no different ...  
     But stop and think.  When was the last time you took a good hard look at your credit situation, your credit cards, or Credit Report?  Over a year?  Two?  More?
     Truth is, what worked for you credit-wise in the past, may not be serving your overall financial good now ...  
 
 Interest … (15 comments)

credit: Mortgage & Real Estate News You Can Use: Week of February 12, 2014 - 02/12/14 05:59 AM
 



(3 comments)

 
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience (NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656) Rainmaker large

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi

708.921.6331 - 40+ yrs experience

New Lenox, IL

More about me…

NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656

Address: Gene Mundt, Mortgage Originator c/o American Portfolio Mortgage Corp., 318 Alana Drive, New Lenox, IL, 60451

Mobile: (708) 921-6331

Office: (815) 524-2280

Email Me



Listings

Links

Archives

RSS 2.0 Feed for this blog