New Lenox, IL Real Estate News

By Tim Ireland
(Midland States Bank)
Since it's happened several times and again just recently, I felt it was an obligation to warn uninformed buyers...BEWARE OF THE CROOKED LOAN OFFICER!!! I'm amaized and dumbfounded at the same time that some loan officers continue to do the same misleading practice over and over again. Amaized because they continue to get away with it, and dumbfounded because I can't really see why they bother to do it in the first place. If they aren't getting paid until a transaction closes, why would a loan offericer ever tell an innocent home buyer that they can qualify for a mortgage that they have no chance of getting?  Maybe I've just had a string of bad luck over the years, but it seems like I come across mortgage loan officers each year that will tell a buyer they qualify for a mortgage of let'...
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 Since becoming a Certified Distressed Property Expert (C.D.P.E.) and working more and more with distressed homeowners, I've become increasingly aware of how many consumers are not aware of the differences between a Short Sale and a Foreclosure or REO property. Most people looking to buy a home in today's real estate market are looking to get a HUGE discount! So naturally, everyone wants to look for foreclosed properties or short sales. That's a GREAT plan. However, you need to know what the differences are in order to prepare yourself for what you're getting into and know what to expect throughout the process. A Short Sale is a home for sale that is owned by a distressed property owner, someone probably having trouble paying their mortgage due to some form of hardship. When the seller...
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The Critical Questions You Must Ask Any Realtor Before You List or consider hiring a Realtor. Eight questions to ask during an interview process before you hire a real estate agent to list your home. 1. What is your company’s track record and reputation in the market place?  It may appear like everywhere you look, Real Estate brokers are boasting about being #1 for this or that or quoting the number of houses they’ve sold. You may be amazed to know that some agents sell fewer than 10 houses a year. 2.  What are your marketing plans for my house? -  Simply putting a sign on your lawn and featuring open houses will not sell your house. How much money does this agent spend in advertising the homes he or she lists versus other brokers you are interviewing? In what media does this broker adv...
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By LOUIS VELA
(Wells Fargo Home Mortgage )
 For many people, the ability to refinance your home may shrink daily expenses and actually better credit all at once. Contrary to what you might think, refinancing is still a viable option for many householders. Discover if it's a sound idea to refinance your home with this quick quiz:   1. Are the current mortgage interest rates at least 1 point less than your existing mortgage interest? If so, refinancing your home mortgage might make sense. If interest rates are lower now by 2 points or more than when you purchased your home, you should emphatically look into refinancing.   2. Do you presently have an variable rate mortgage, negative amortization or interest only loan that is due to readjust or which isn't building equity? If so, today's historically low mortgage interest rates make...
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By Belinda OnullBrien, Elegant Stager, New Lenox, IL
(Elegant Stager)
It's that time of year again. It is time to think about your New Years Resolution! I have a few this year. My resolution this year is to: Spend more quality time with my family (never enough time) Start eating healthy (lord help me and keep the chocolate away) Find more time for myself(LOL) I think I'm in the same boat as others with the last one. Most of us work so hard at our careers and family that we don't stop and think of ourselves. Pampering or rewarding yourself is vital to our happiness, but yet we deny ourselves of this all of the time. Isn't true that when your happy, everyone around you is happier? So I'm here to say TAKE CARE OF YOU THIS YEAR! IT'S OK! Make a promise that you will take time out each week to reward you. Here are just a few suggestions: Get a pedicure or a ma...
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