"Mortgage Anatomy 101" ... the Current Mortgage Process, Part 3"             In Part 1 of the post,  "Mortgage Anatomy 101" ... the Current Mortgage Process"  ... I detailed much of what happens in the initial portion of your mortgage process.  In Part 2, I dug a little deeper into the mortgageprocess and touched upon your mortgage file's submission into  Underwriting,  the Underwriting itself, and then Loan Approval.         In this Part 3, the last article in the series, I will talk about the Closing of your home's financing.  Your Mortgage Closing is the culmination of all your hard work and effort over the last weeks.  It represents the successful completion of your Mortgage Process.   It represents the fulfillment of your dream.          Once your Mortgage Lender has received the... 03/28/2013

  "Mortgage Anatomy 101" ... the Current Mortgage Process, Part 2"      In Part 1 of the post, "Mortgage Anatomy 101" ... the Current Mortgage Process" ... I detailed much of what happens in the initial portion of your mortgage process.      In Part 2, I will continue to dig deeper into the mortgage process and touch upon your mortgage file's submission into  Underwriting, the Underwriting itself, and then Loan Approval.      At this portion of the mortgage process, your  Loan Officer  and Loan Processor have reviewed your file and agreed that it is ready for submission into Underwriting.  All of the documentation requested of the Borrower is in and the Appraisal Report has also been received by the Loan Processor.  (Remember:Loan Officers and Appraisers must maintain a "separation" dur... 03/26/2013

  Real Estate Lessons from Historic Basketball Coach John Wooden ... Just in Time for March Madness          "March Madness" has arrived.  The annual NCAA Tournament that holds the attention of much of America, (and the world) has started and is in full gear.      If you're a basketball fan like I am, you're in your glory right now.  Basketball was like a religion in our house when I was growing up.  My 3 brothers and I all played from the moment we could hold a ball.         Three out of the four of us Mundt brothers have birthdays this week.  Great timing on Mom and Dad's part.  Multiple birthdays smack in the middle of March Madness.  Now THAT'S a real gift!        Needless to say, the basketball tournament will be on TV at our birthday gathering.  (Click HERE  to find a printable 20... 03/22/2013

Crystal Springs, New Lenox, Illinois About Crystal Springs Crystal Springs is a single family home subdivision built by Voss Homes/Eagle Ridge Corp. in the mid 2010's. Crystal Springs is located in New Lenox, Illinois south of Lincoln Highway and east of Schoolhouse Road. Average taxes in Crystal Springs $4,057 Average association fees in Crystal Springs $0 Average home size in Crystal Springs 2,555 ft2 Average lot size in Crystal Springs 0.25 acres Average year built in Crystal Springs 2007 Homes for sale in Crystal Springs Address Beds Baths Built Price 2357 Bluestone Bay Dr. 4 2.1 2007 $369,000 714 Teal Dr. 3 2.0 2007 $359,990 Sales Summary for Crystal Springs  (Mar 1, 2012 - Mar 1, 2013) # of Sales Average Days on Market Average List Average Sale Ratio% 6 70 $102,900 $96,667 93.9% ... 03/01/2013

  The Questions You Should Ask Your Mortgage Lender in Order to Receive the Best Mortgage Financing for Your Needs      In earlier posts, I have addressed some major issues surrounding mortgages, mortgage processing, and mortgage closings.         In my post,  "WHY Home Buying Transactions Must Begin With Home Buyers Getting Pre-Qualified!",  I spoke of the great importance of being  pre-qualified  for your mortgage financing prior to viewing homes.   In   "Your Preparation and Planning for Buying a Home Needs to Start Well in Advance of Your Viewing of Homes",  I addressed the time-frame you should follow as you begin the home buying and mortgage process.        I've even provided helpful information as to  HOW to find your Mortgage Lender.  But once you have found and decided upon you... 02/21/2013

  WHY Home Buying Transactions Must Begin With Home Buyers Getting Pre-Qualified!        I can write and write all day, but until a potential home buyer truly understands WHY and WHERE their home buying transaction must begin, those words can do little.                  Simply put, until a potential home buyer discovers IF they can buy (based upon their verifiable income and credit scores), how do they even know WHERE to start their home search?  Or WHAT homes they can (or should) be viewing?               To borrow a couple old phrases ... it's my opinion that viewing homes without being  pre-qualified  is like ...      *  Putting the cart before the horse ... and potentially      *  Closing the barn door after that horse is out!           Ohhhhh, the many risks that come with viewing ... 02/13/2013

Horizon Meadows, New Lenox, Illinois About Horizon Meadows Horizon Meadows is a single family home subdivision built starting in 2005. Horizon Meadows is located in New Lenox, Illinois north of Delaney Road and west of Cedar Road. Average taxes in Horizon Meadows $6,653 Average association fees in Horizon Meadows $203 ($108 - $250) Average home size in Horizon Meadows 3,040 ft2 Average lot size in Horizon Meadows 0.38 acres Average year built in Horizon Meadows 2007 Homes for sale in Horizon Meadows Address Beds Baths Built Price 2731 Meadow Path 4 2.1 2005 $360,000 653 Stacey Dr. 3 2.0 2010 $309,900 2787 Meadow Path 4 3.1 2005 $330,000 Sales Summary for Horizon Meadows  (Feb 8, 2012 - Feb 7, 2013) # of Sales Average Days on Market Average List Average Sale Ratio% 6 108 $336,217 $320,8... 02/07/2013

  Low Interest Rates and Lower HousingPrices. Ask What They Really Translate to For You in Dollars and Cents        There are many great things about being a Mortgage Lender.  I can tell you,  it sure makes you feel good when you know your efforts contributed to someone's happiness and success.       I've been working in the mortgage industry for a long time now.  36 years to be exact.  And during those years I've seen alot.   When I started in the business back in 1977, the interest rate for Conventional Loans was hovering in the low 6%'s.  During the crazy see-saw 80's, those rates jumped up into the 18%'s.       Back when I started my career, especially in smaller towns, training to be a mortgage lender meant you learned the mortgage and banking business from the ground up.  And I DO... 02/06/2013

  Changes are Ahead!  The "Perfect Storm" for Buying a Home Will Not Last Forever        If you're hoping and dreaming of becoming a First-Time Home Buyer, you're probably currently battling with yourself over the timing of a home purchase.        Is NOW the best time?  Or should I wait a bit longer?      If you have:   *  A secure job ..  *  Excellent credit ..  *  Savings for a Down Payment ...  the answer to those questions is probably fairly clear to you.  And you may already have taken steps towards achieving your goal.      But if you have struggled with your credit or haven't succeeded at putting a Down Payment together, you might want to consider the following reasons as to why you should  take action  sooner than later.  Changes regarding mortgage financing and housing ARE comi... 02/05/2013

  A Wedding - Home Buying Registry What Do You Think?        Prior to my wife joining me in my business, she worked in a local travel agency owned and run by one of her best friends.  For many reasons, she loved her job there.  Can you think of a job that could be more fun that promoting travel and travel destinations?  And the clients!  They were typically a pretty upbeat, fun group.  Especially those planning their honeymoons.      I think my wife would have stayed working at the travel agency forever had business not come to a screeching halt as a result of 9/11.  If you remember correctly, no one went anywhere for a good long while after that.  And marketing wasn't going to change that.      But one of the marketing concepts that was just beginning to take shape at the travel agency... 01/25/2013

Sauk Prairie Estates, New Lenox, Illinois About Sauk Prairie Estates Sauk Prairie Estates is a single family home subdivision built in the late 1970's. Sauk Prairie Estates is located in New Lenox, Illinois south of Delaney Road and west of Schoolhouse Road. Average taxes in Sauk Prairie Estates $0 Average association fees in Sauk Prairie Estates $0 Average home size in Sauk Prairie Estates 0 ft2 Average lot size in Sauk Prairie Estates 0.00 acres Average year built in Sauk Prairie Estates 0 Homes for sale in Sauk Prairie Estates None Sales Summary for Sauk Prairie Estates  (Jan 22, 2012 - Jan 21, 2013) # of Sales Average Days on Market Average List Average Sale Ratio% 5 140 $201,720 $176,160 87.3% Recent home sales in Sauk Prairie Estates Address Beds Baths Sold 1300 Praire Estate Dr.... 01/21/2013

  Be a part of a historic movie screening.   Attend "The Honor Flight" on February 19th,   at the New Lenox AMC Showplace theatre.      New Lenox, IL is going to host the only Chicagoland showing of  "The Honor Flight"  at its  New Lenox AMC Showplace.  (Directions)      The movie,  "The Honor Flight"  was chosen as an Official Selection of the 2012 Naples International Film Festival.  The  New Lenox  screening, which takes place on February 19th, will be part of a larger screening billed by the Guinness Book of World Records as the largest film screening ever.         The public is invited to watch this documentary that revolves around World War II veterans, now in their 80's or 90's, that take a flight and 24-hour trip to Washington, D.C. to see the  Memorial  opened in their honor in... 01/19/2013

    No drama needed.  No magic necessary ...      The headline reads ...   "Home Equity Regains $2 Trillion"                     As a homeowner, does that headline grab your attention?  Have you been following the home sales in your own area?  Do the sales appear as though they've turned a positive corner?        If the answers to the above are "YES!" ... the idea of  Refinancing  your present mortgage must (and should) be banging around in your head.  And rightfully so.  Today's low interest rates are awfully tempting.  And the news above bodes well for more home owners being capable of taking advantage of them.        Yet, you say you've heard that the  mortgage process  is hard?  It's Tedious?  Frustrating?  And it takes a magician to secure a successful result?   Depending on your c... 01/15/2013

  Hoping to become a Successful Spring home Seller and Buyer?  Part 2 ...           Part 1  of this post pointed out that being located within a cold weather climate does not need to be a liability to those home owners hoping to list and sell their home this coming Spring.  There are many things that can be tackled and accomplished within a home, even during cold winter months found in Chicagoland and elsewhere across the USA.      Part 2 of my post tells you what those things are ... and how to go about successfully completing them ...        Roll-up your sleeves!  Remove clutter.  Heed the saying, "Clutter kills.  Space Sells".       Clutter makes a room look smaller visually.  Clutter distracts Home Buyers while viewing your home ... exactly what you do NOT want.  Clean everything up... 01/04/2013

       Hoping to become a successful Spring  home Seller and Buyer?   Part 1 ...             In Chicagoland, as in other colder climate regions of the US, the next few months most likely mean cold weather.  Blistering winds.  Snow.  Ice.               Brrrrr ...       Does the thought of that have you dreaming of spring and warm weather activities already?          If you're presently a home owner and your dreams include selling your home and buying and moving into a new one during the upcoming year ... all indications are that  2013 will be a good year  to do just that.  Move-up sellers are predicted to return to the housing market and new construction is once again on the rise.  That means there will be more homes from which to select your new home.  And more potential Buyers to view ... 01/03/2013

  Hansel and Gretel were the original participants of "Survivor"        It's not one of the most often-heard fairy tales.  I think because it's rather "dark" in nature.  But the old  Brothers Grimm  fairy tale of "Hansel and Gretel"  contains some good lessons regarding survival within it.  Lessons I think, that when applied, can help new Home Buyers (and those Refinancing) to survive and thrive during their mortgage processing.     "Hansel and Gretel" were the original participants of "Survivor", in my opinion.  For those that might not know the story of "Hansel and Gretel", there's a portion of the fairy tale that tells of these two children being left and abandoned inthe woods.  First by a wicked step-mother.  Then by their own father.        Hansel and Gretel successfully return hom... 12/28/2012

    Knowing the Financial Philosophy and Standing of a Potential Partner is Growing in Importance      I read an unbelievably interesting article on  Yahoo! Finance  today.  The focus of the article was  credit scores, so it's no stretch to see why the topic caught my eye. But this article had a little bit of an eye-catching twist to it, especially if you are presently single, dating, or hoping to.         The article reported how credit scores are increasingly becoming a topic of conversation for those dating these days.  And that those conversations regarding credit scores are occurring earlier and earlier in the dating timeline.  Some as early as the first date.      Wow!  Tough topic to throw at someone when you're just getting to know them, right?        As a  Mortgage Lender,  I a... 12/27/2012

    It Only Takes One Click.  One Call ... to get started      Yesterday I read an article that provided the results of a new Trulia study that stated:   "93% of young adults (those between the ages of 18 to 34 years of age) that are currently renting, plan to purchase a home".                   Great news!  But the article went on to say, that these young adults believe that the current, historically low interest rates will last ... and that because of that, they may lose out on today's unique and golden opportunity within the housing market.  That's not great news.         Other recent articles I've seen show that housing markets across the nation are healing and home prices are slowly rising.  As I see it (and based upon my 35+ years of experience within the mortgage industry), highe... 12/20/2012

Laraway Ridge, New Lenox, Illinois About Laraway Ridge Laraway Ridge is a single family home community built by Hartz Homes from the early to mid 2010's. Laraway Ridge is located in New Lenox, Illinois south of Laraway Road and west of Cedar Road. Average taxes in Laraway Ridge $2,786 Average association fees in Laraway Ridge $300 ($0 - $300) Average home size in Laraway Ridge 2,299 ft2 Average lot size in Laraway Ridge 0.25 acres Average year built in Laraway Ridge 2007 Homes for sale in Laraway Ridge Address Beds Baths Built Price 718 Peregrine Dr. 4 2.1 2011 $235,900 2100 Foxwood Dr. 4 3.0 2000 $247,500 617 Bobwhite Ln. 4 2.1 2002 $279,900 623 Bobwhite Ln. 4 3.1 2001 $245,000 2377 Cardinal Dr. 3 2.1 2012 $222,900 140 Model Row Way 4 2.1 2012 $268,900 2024 Cardinal Dr. 4 2.1 2012 $259... 12/17/2012

Taylor Glen, New Lenox, Illinois About Taylor Glen Taylor Glen is a single family home subdivision built in the late 2010's. Taylor Glen is located in New Lenox, Illinois south of Illinois Highway and east of Cedar Road. Average taxes in Taylor Glen $8,496 Average association fees in Taylor Glen $260 ($260 - $260) Average home size in Taylor Glen 2,800 ft2 Average lot size in Taylor Glen 0.25 acres Average year built in Taylor Glen 2006 Homes for sale in Taylor Glen Address Beds Baths Built Price 2893 Mckenna Dr. 3 2.1 2006 $340,000 Sales Summary for Taylor Glen  (Dec 18, 2011 - Dec 17, 2012) # of Sales Average Days on Market Average List Average Sale Ratio% 6 199 $372,901 $337,917 90.6% Recent home sales in Taylor Glen Address Beds Baths Sold 2844 Taylor Glen Dr. 3 3.1 $312,500 2898 Ry... 12/17/2012