Overcome an Underwater Mortgage
Updated Oct. 9, 2013
Nearly 11 million Homeowners are Underwater, which means they owe more on their mortgage than their property is worth. Below are some of your options for overcoming this battle.. Wait It Out: Although short sales and foreclosures are bringing down home values, the housing market is slowly recovering. If you are...

IHDA Programs Help Illinois Veterans and More
Updated Oct. 24, 2014
The Illinois Housing Development Authority (IHDA) offers many beneficial loan programs that some borrowers may not be familiar with. While an FHA loan is a government run program that allows buyers to borrow money with low down payments (as low as 3.5% down), the IHDA program is built on the framework of an FHA...

The Facts about HARP 2.0
Updated Oct. 9, 2013
The Facts about HARP 2.0While so many homeowners have been unable to weather the economic storm due to loss of income or other woes, you have made it! In spite of the knowledge that you may have little or no equity in your home, you have continued to make your monthly payments. You have been committed to your...

FICO Credit Scores: What Do They Mean and Who Said So?
Updated Oct. 9, 2013
FICO Credit Scores: What Do They Mean and Who Said So?Since our society is so automated, it's probably not surprising that your ability to repay your mortgage loan comes down to one number.. The FICO score is created by credit reporting agencies. All three major credit agencies (Equifax, Experian and...

Improve your Credit
Updated Oct. 9, 2013
Your credit score is an important part of your life, especially when applying for a mortgage loan. Your credit score will play a major role in determining how much money you can borrow, as well as the interest rate that goes with the mortgage.. There are many things you can do to improve your credit score and increase...

Smart Moves While Rates Remain Low
Updated Oct. 9, 2013
Mortgage rates are at historic lows and there is not much room for rates to go lower. Money won't get any cheaper to borrow than right now. If you want to be smarter with your money there are a few things you could do with these low rates.. If you have been weighing your options in the housing market you may want to make...

Protecting Your Credit During Divorce
Updated Oct. 9, 2013
When a marriage ends in divorce, the lives of those involved are changed forever. During this time of upheaval, one thing that shouldn't have to change is the credit status you've worked so hard to achieve.. Unfortunately, for many, the experience is the exact opposite. Unfulfilled promises to pay...

Refinance with a 203K Home Improvement - OVERVIEW
Updated Oct. 9, 2013
If selling right now is not an option, you can improve your existing home, love it while you can, then sell later--having a superior property to market in the future... With this loan, you can literally change the structure of your home, upgrade it, build up or add on.. The 203K loan has been available for years through...

Avoid a Bad Appraisal
Updated Oct. 9, 2013
An appraisal is an assessment of your home which establishes the current market value of the home. The appraiser compares your property to several other similar homes that have recently sold in your area, and makes value adjustments for differences between the properties.. Some types of financing require...

Late Medical Bills Can Lower Your Credit Score
Updated Oct. 9, 2013
Even if you're fortunate enough to have health insurance, you can still accumulate some medical bills, which, if left unpaid, can negatively affect your credit report.. Understanding how this can happen will enable you to take steps to help keep your personal finances strong long after you've dealt...

Chicago Neighborhood Guide
Updated Oct. 9, 2013
If you are looking to move into the City or just want to switch neighborhoods but don't know where will be the best fit, here is a guide to some of the most sought after neighborhoods in Cook County.. Uptown has gone through a revival and the neighborhood has restored many of the old buildings. It is a diverse...

Short Sales and First Time Buyers
Updated Oct. 9, 2013
While a short sale may not be for everyone, it sure is a great deal to many first time buyers. Short Sales are indeed a great opportunity!. The key to dealing with short sales is to have a lot of patience because they may take a longer time to settle a deal. It is especially great for first time buyers because of the...

North Shore Chicago Neighborhood Guide
Updated Oct. 9, 2013
If you are looking to move out of the city or just want to switch neighborhoods but don't know what will be the best fit, here is a guide to some of the most sought after neighborhoods on the North Shore in both Cook and Lake County.. Glenview is located just 17 miles from the Chicago Loop and is a top village for...

Home Improvements Cost vs. Value
Updated Oct. 9, 2013
Before starting construction you want to determine what you'll get back on your investment. This will depend on several things such as the value of your house as well as other homes in your neighborhood, the quality of the project, and factoring in how soon you plan to sell after making the improvements. If...

Healthy Home Tips
Updated Oct. 9, 2013
Maintain a healthy home by keeping it free of germs and allergens that can cause infections. Following these simple tips around the house will make your home safer and will lead to a better, healthier life. . o Use HEPA (high efficiency particulate air) filters in your vacuum. This prevents dust from being blown back...

Chicago Neighborhood Guide: Northwest Suburbs
Updated Oct. 9, 2013
If you are looking to get away from the hustle and bustle of the city and want to enjoy a more suburban life without moving too far out of the city, here is a guide to Chicago's Northwest Suburbs in both Cook and Lake County.. Arlington Heights is a friendly village that is great for raising a family with its...

Chicago Neighborhood Guide: Western Suburbs
Updated Oct. 9, 2013
If you are looking to get away from the hustle and bustle of the city and want to enjoy a more suburban life without moving too far out of the city, here is a guide to Chicago's Western Suburbs in DuPage County.. Naperville has been recognized by Money magazine as one of the best places to live in America. It has...

Preparing for Homeownership
Updated Oct. 9, 2013
With both home prices and interest rates at all-time lows it is a perfect time to become a homeowner. Navigating the market these days can be tough especially for a first time home buyer. The following advice will benefit you in your pursuit of becoming a homeowner:. Improve your credit score: Your credit score...

Life After Bankruptcy
Updated Oct. 9, 2013
Bankruptcy is an uncomfortable subject for a variety of reasons. The most obvious is the potential havoc it can wreak on your finances. Running a close second is the negative stigma which is often attached to the process. This negativity is important to mention because strong emotions can sometimes lead to...

What Affects Mortgage Rates?
Updated Oct. 9, 2013
What is the Velocity of Money and How Does it Impact Home Loan Rates? . If you've been watching the economic news, you've probably noticed that market experts and traders have been keeping a close eye on the Commerce Department's Personal Spending and Personal Income reports. Obviously, those...