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You have scrimped and saved for years and now you have money in the bank for a down payment on a property. But before you rush into the market, consider this. What many homebuyers don’t take into account are the extra expenses that lurking in the closing costs. Closing costs can equal 3 percent of your purchase price in many cases, and sometimes even more depending on the price range. There are many costs that can fluctuate daily, from government charges like transfer stamps to attorney or title company fees. Closing costs cannot be avoided and everyone will have their …

  Remember the childhood story of Goldilocks and the Three Bears, where this bed is too big and this bed is too small but this bed is just right? Can the market be at a point where everything is just right? Mortgage rates as of the day I am writing this article are below 4 percent for a 30-year fixed. Real estate prices are moving up and oil and gas prices are at multi-year lows. And while the economy isn’t speeding along, we have seen unemployment come down without being accompanied by wage inflation. Inflation overall has been below the …

  It is a great relief when you can find a person you trust to take care of your parents or loved one as they age. Caregivers can be a great help for those who may not be totally self-sufficient. But there may come a time when your parents’ needs exceed the scope of an in-home caregiver. At this point, you may look nursing home care for your loved ones, especially if medical professionals feel that that is necessary. Once in a nursing home, most people will try to qualify for Medicaid, which is the only governmental program that will …

  Last month, we discussed on-line family trees, and some of the pros and cons. The major pro is that when you upload your tree, the on-line sites (familysearch and ancestry) check your tree for matches with other trees already in their web sites. Keep in mind a couple of things when working with these two web sites. Familysearch is limited to the data that they have already microfilmed, and are now in the process of making those billions of images available on-line.  Information is completely free due to being funded through the Mormon Church, who created the web site …

  As of Thursday, February 19, 2015, I have been living within the boundaries of the Pullman National Monument! After many years of hard work and progressive effort by numerous residents and supporters, Pullman has become part of the country’s National Park System. As a voting member of the Executive Board of the Pullman Civic Organization (PCO) I received a ticket to attend the Presidential signing at the Gwendolyn Brooks Academy, (formerly Mendel and Pullman Tech). I did all the right planning to get myself a center seat in the sixth row, directly in front of the dais with all …

It seems that every family tree boasts an artist — whether near or far historically. Many of us have hidden talents that we’ve never explored, but some of us have offspring whose talents have flourished. When our children take part in an art exhibit at school and then carry on with that interest into their adult education we swell with pride. If those children of ours become successful commercial artists — whether they are actors, sculptors, musicians, singers, songwriters or performers – our joy knows no bounds. As we see our relatives persevere and endure through the hardships that are …

As we make our way into the New Year, I would like to apprise you of three new items that took effect on Jan. 1, 2015: New Illinois Power of Attorney for Healthcare – Effective Jan. 1, the state has a new statutory short-form power of attorney for healthcare. Without further changes, this will be the new statutory power of attorney healthcare professionals will use and find recognizable. It therefore may be advisable to have the new power of attorney created for you to replace an old one. Small Estate Affidavit — Effective Jan. 1, the small estate affidavit has …

Last month we talked about being stuck in genealogical gridlock. Genealogical old-timers (among whose ranks I think I belong) call them “brick walls.” You’ve looked in as many genealogical resources as you can but you just don’t have enough information to be sure of a piece of information. That birth date could belong to Uncle Lou, or it could be one of 24 different Lou Russos living in Chicago at that time. The other kind of brick wall is that you have no clue when or where Lou was born and there doesn’t seem to be any way to figure …

In early January, President Obama announced that he would lower FHA mortgage insurance premiums to help lower the mortgage payments of future FHA borrowers who are planning on purchasing or refinancing. On Jan. 26, those lower mortgage insurance premiums went into effect. Most lenders require 20 percent down on the purchase of a house, but the Federal Housing Authority allows borrowers to buy a home with as little as 3.5 percent down. FHA mortgage insurance covers the lender for the difference in case the borrower defaults. How much did President Obama save borrowers by lowering the premium? For every $100,000 …

The real estate market is starting to pick up again and folks are starting to think about possibly buying or selling. If you fit that profile, now is the perfect time to start doing some due diligence. In other words, find out what it’s going to cost you. There are many different factors that can affect your bottom line. Closing costs can include broker, appraisal, processing, attorney and title fees and your down payment percentage just to name a few. Along with that, let’s not forget good old Uncle Sam! Property transfers can include state, county and local transfer stamps. …