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New Lenox, IL Real Estate News

By 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)
 Missing: Common Sense and Logic  Some Home Buying Transactions Just Defy Logic ...   A call I received from a client a short while back literally left me speechless.  As my 6-year-old granddaughter would say, "there was nothin' but crickets" ...  My client had questions regarding their mortgage (already in process).  There was nothing alarming about our exchange ... that is, right up to the point where I mentioned it was the time in their processing to order their Appraisal.  That's when my client said ... "We need to hold off on doing the Appraisal, per my Agent". Uh oh ... Of course I asked, "Why?"  Their reply ... "Well, I've been doing some updating on the tile and flooring in the house.  Plus some drywalling ... and some other remodeling too.  I want to get everything done before ...
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By 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)
 This Valentine's Day, Keep Your Pets Safe Did you know that it's estimated that out of the $18.9 billion spent on Valentine's Day in 2015, consumers spent $703 million on their pets?  And did you know that projections for this year's spending are even higher?Meeee-owww!There are many ways to show your pets some special love on Valentine's Day.  Here's a few for you to consider: Take them to the Vet.  Make sure they're up-to-date on vaccinations.  Or schedule a teeth cleaning. Reward them with a new toy Make a donation to a shelter in their name Clean or upgrade their bedding Go for a walk ... or to the dog park  But there are also things that you should not do ... or avoid during this annual love celebration.  Things that could prove harmful to your furry loved ones, or even lethal. Be...
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By 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)
 It's Time to Request Your FREE Credit Report Credit advice is everywhere ... The internet, social media, news outlets, financial and lending institutions, and more provide a never-ending supply of it.So by now, you've probably seen and heard that your Credit Score is important ... and that you should check your Credit Report on a consistent and timely basis.   But where do you start?  There are 2 simple ways to achieve this important task:1:  You can talk to your Lender.       This is most commonly done when applying for a mortgage (or loan of some kind), but it can be accomplished at any time.  (It must be pointed out that should you not be applying for a loan anytime soon, there may be a small charge for running a Credit Report in this manner.  This charge will be incurred at the dis...
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By 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)
Donate Prom Dresses to "Melissa's Closet & Crystal's Jewelry Box"  March 4, 2017  In memory of their former employee, Melissa Michalowski, and her friend Crystal Carr, 2 young girls lost in a fatal accident, Whitmore Ace Hardware  (multiple locations) is once again collecting new and gently-used prom dresses for their annual "Melissa's Closet & Crystal's Jewelry Box"  event.    Their Mission?   Making sure all teens that dream of attending their high school prom are not held back from doing so because of monetary constraints or purchase of appropriate prom wear. Should you be able to assist in this cause: Drop off your new or gently-used prom dresses at any of the following Whitemore Ace locations: Whitmore Ace Hardware - 210 So. State Street,  Manhattan, IL   (815.478.3317)          Wh...
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By 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)
Your Tax Refund Can HelpYou Become a Will County Home Buyer Last week, the Internal Revenue Service (IRS) announced it had started accepting 2016 Income Tax Returns for processing ...If you're one of those estimating you'll receive a refund on your taxes ... and you dream of buying a Chicagoland home in the future ... now is the perfect time to: Get Started  Contact Me   Ask your financing questions  Discover what options you have to borrow and buy  Position yourself for the mortgage best suited to your needs The refund money you receive can be extremely helpful in buying a home.  A common use for the refund money is to use it as a downpayment on a home.There is good news for those hoping to do just that, as there are presently many mortgage options available for hopeful homebuyers to c...
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By 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)
 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 errors, identity theft, etc. taking place What options you may have available to borrow What financ...
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By 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)
 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, there are also negatives to be found within paperless methods.  For some of my mortgage clients, the choice of going "pa...
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By 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)
 Moving to New Lenox, IL? Get to Know the Schools in New Lenox School District #122     New Lenox School District #122 meets the educational needs and more of 5,400 students from the New Lenox, IL area.        Students, ranging from Preschool to 8th Grade, attend the following schools: Preschool - Cherry Hill Kindergarten - Spencer Trail Primary Schools: Haines, Arnold J. Tyler, Spencer Pointe, Nelson Prairie Intermediate Schools: Nelson Ridge, Caroline Bentley, Oster – Oakview, Spencer Crossing Junior High Schools:  Liberty, Alex M. Martino                An average of 85% of New Lenox School District #122 students have met and/or exceeded the Illinois Learning Standards for 9 consecutive years.  (Individual school report cards for each New Lenox School District school can be viewed by...
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By 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)
 The Funds Needed at Closing .. and How They are Figured           Most new mortgage clients I speak with have pretty basic concerns regarding their upcoming financing.  One of the questions I hear most often is ...      How much money will I need at my Closing?        A simple and quick answer might be provided by the following math equation:  Down Payment + Closing Costs/Pre-Paids                                    =                    Total Funds to Close           But unfortunately, it's typically not that simple. Here's why ...        While the above equation is an appropriate starting point for buyers/borrowers, the actual amount of funds needed at the time of Closing often decreases during the time of mortgage processing.        How?  Often, during the processing of a mortgage or...
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By 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)
 Can Buying in an HOA Affect Your Chances of Buying a Home?          Homeowners Associations (HOA) ... and the fees/dues associated with them ... come in all sizes, shapes, and forms ...           While many Chicagoland properties are not associated with any Homeowners Association (HOA), many ... especially those built after or during the 1980's ... are likely to lie within a subdivision with an established HOA - Homeowners Association.       These Associations usually provide commonly owned facilities or services for the benefit of ALL property owners within the Development.      Some examples of amenities and services supported by Homeowners Associations/Fees are:     Parks  Pools  Tennis Courts Marinas Clubhouses Recreational Facilities  Signs  Lawn Care/Snow Removal Retention Ponds ...
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By 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)
  Property Addresses: Gettin' Down to the Nitty Gritty             Take just a second and read through the following statements ...“The devil is in the details”    ... "in life, it is often the tiny details that end up being the most important""Get Down To The Nitty Gritty"“Little details have special talents in creating big problems!” “Sweat the details”"Success is the sum of details"              Details ... Details ... it's all about the details ...       And I'll admit it, I'm a bit of a "nerd" about them.  My whole family is.  Details, the intricacies, the little things ... they matter to us.      When I was growing up, a typical conversation (and argument) between my brothers and myself at the dinner table or in the backyard centered around "details".  It didn't matter what the to...
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By 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)
Cubs Win!  Cubs Win!#FlytheW      You have to excuse me today, folks ...        You see, it's the morning after my beloved Chicago Cubs won the freakin' World Series ... the team's first since 1908.  We've waited a long, long while.         I can't begin to convey how I feel this morning.  Words ... well, they escape me.  Something that (as you well know) rarely happens.      But my joy ... my deliriousness ... has been a long time coming.  And I'm determined to ring every ... last ... drop ... out of the feelings.  The elation I feel will never subside.           This win?            It's for family ...        It's for every Cub fan over all the many years that took abuse about being a perennial loser.  Ever heard  "Wait 'til next year".        For all those times we heard the goat sto...
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By 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)
          My Mother-in-law, Pauline was a super "Santa's Helper".  In fact, I think she just may have authored the Elves' training manual for Santa ...     All holidays were never too far from her mind. Never too far off on the calendar for her to be thinking and planning for them.       Whether it was meals, gifts, preparing her home, or family and friends gathering, she was busy like a buzzing bee.  But Christmas?  That was special ... her favorite ... and she pulled out all the stops.     As a farmer's wife and a child of the Depression, she had learned to prepare well ahead for all occasions.  Lean times or snowy weather preventing trips to town could be just around the corner.         Holiday planning was an art form for her.  It was truly a year-long event.  It was planned out, ch...
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By 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)
 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 can result in lower Credit Scores.         Those lower Credit Scores, in turn, can cost you money when you apply for insurance(s), ...
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By 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)
2016 Will County Fall Festivals, Pumpkin Farms,Corn Mazes, and Hayrides         The leaves are already falling off the trees at our home in Lockport.  Cooler night temperatures remind me that Fall 2016 has officially arrived in Chicagoland ...      Here in Will County, IL ... that means wonderful things like pumpkin farms, fall festivals, corn mazes, haunted houses, scarecrows, spooky ghosts, witches, and goblins of all shapes and sizes cropping up everywhere.       Everybody loves Fall!  And pumpkins ...            Did you know these facts regarding pumpkins? Illinois is the #1 pumpkin producer in the U.S. Pumpkins are actually a fruit (they contain seeds) Bees pollinate pumpkins It takes 110 days for a pumpkin vine to produce mature pumpkins Giant pumpkins can grow five pounds a day 8...
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By 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)
Eliminating FHA Mortgage Insurance? Mining for Gold!        A comment often heard regarding today's mortgage process is that it's "difficult" or tedious.  There are too many questions, requests for information, or details to navigate ...     And while it is true that there can be much to gather, to do, to talk over, to digest for Borrowers ... as their Mortgage Originator, I see real positives in that.      Why?       Within all that info and detail gathered from mortgage applicants, lies opportunity.       The more info and detail I have at my disposal as your Originator, the better the possible outcome.  All revelations help me find the bestoptions and mortgage program to fit your needs.     The method of gaining the info and detail may seem many a bit slow and tedious, but as with mi...
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By 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)
 What is FHA Mortgage Insurance and How Does it Work?      Mortgage Insurance remains a hot topic for potential Borrowers, current Borrowers, and professionals alike.  And of great interest, no matter which type of mortgage program it's utilized in ... Conventional or FHA (Federal Housing Administration).     While I've written in the past about Mortgage Insurance as it relates to Conventional financing, I now want to focus on its counterpart within FHA Loans ... which is mandatory, guaranteed, and government issued (not Privately backed by Corporations).  (See past posts, "Understanding Private Mortgage Insurance. PMI: The Pros and Cons" and "How to "Replace" Mortgage Insurance")      Since FHA Loans are government insured, it should come as no surprise that the Mortgage Insurance requ...
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By 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)
A Recipe for Success: Does Your Mortgage Originator Possess the Right Ingredients?      A couple of days ago, I received a comment regarding my recent blog/post, "How to "Replace" Mortgage Insurance" from a fellow ActiveRain Member and real estate industry professional. (Thank you Patricia Feager, Dallas Premier Keller Williams Realty, Flower Mound, TX) ...     Within her comment, Patricia Feager said ...     "Gene, you have a skilled talent that explains things on the level I can understand. Thank you for sharing this outstanding and very educational information!!!"     I greatly appreciated the kind words she wrote, as my number one goal as a Mortgage Originator (and writer) most certainly is to help my clients successfully close their loan.      But just as important is ... that they...
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By 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)
 Ready for Fall?  It's Arriving Soon  Friend ...Maybe it's because football season has started. Maybe it's the kids being back in school. Or because the night air is cooler. But a sense of Fall has arrived here in Chicagoland ...The Fall Season brings changes with it. Changes in temperatures. Changes to the clothing we wear. Our focus seems to shift with the coming of shorter days, falling leaves, and crisp air.Fall can be the perfect time to do a multitude of things. You can prep your home for the upcoming winter weather ... or for Fall listing and sale. But whether you're moving on or staying put, Fall is a great time to declutter and organize your home inside and out ... and your finances too.I've googled like crazy to find interesting articles filled with Fall info, ideas, tips, and...
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By 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)
How to "Replace" Mortgage Insurance        The many questions and comments I received regarding my recent post about Private Mortgage Insurance prove that PMI remains a topic of real interest and concern for Borrowers and real estate professionals alike ...      After reading my post, many readers raised the question, "Is there any way to avoid paying monthly Mortgage Insurance"?  The short answer to that question is "yes", there is.      But as typical with most things in financing these days, there are asterisks attached to that answer ... and stipulations must be met first in order to do so.             The following 3 options are the most commonly applied methods of monthly Mortgage Insurance avoidance.  I recommend that any Chicagoland Borrower considering their use have a long, de...
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