Tag Archives: Advice

A few years back, there was a mortgage program that was called a “No Doc” or “No income verification” program, which made it easier for non-salaried workers to qualify for home loans by not forcing them to verify their income. This program was a great for someone that had a good down payment or sizeable equity for a refinance, but didn’t show a lot of income. Unfortunately, this program was being used by W-2 employees to qualify for larger mortgages than they could afford. So they would state that they made more money than they actually did, and “qualify” for …

Illinois citizens should be up in arms about the so-called Medicaid reforms contained in the SMART bill that recently passed the state senate and house and at press time was awaiting the signature of the governor. Those changes will adversely impact many residents of the state. These changes were made to the Deficit Reduction Act (DRA) of 2011 by the Department of Healthcare and Family Services (HFS) despite the vigorous lobbying of the Joint Committee on Administrative Rules (JCAR). They amount to an assault on the financial security of many citizens of the state. Assault on Homesteads A home held …

Many times when working with a client we start out looking for condos and end up purchasing a home or vice versa. There are many differences between owning a home and a condo, and it’s important to know them before making your decision. A condo unburdens you of the direct responsibility of intensive maintenance. Many things like lawn care, snow removal, garbage removal and exterior maintenance are usually taken care of by an association. On the other hand, you pay for these conveniences in monthly association dues. There are other convenience to owning a condo aside from maintenance issues. Some …

I’m in the middle of a new project, and when that happens, I get to explain it to you at this website. Hopefully some of you will jump on the bandwagon. The website www.familysearch.org is loaded with new content all the time, and all of it is free. For example, I have a lot of people in my files who were born in my ancestral villages in Italy and died in Chicago, and I would like to acquire death certificates for them. But I don’t want to pay $15 for each one. Have no fear! Depending on what year you’re …

Many people don’t realize that their credit dictates what they can buy and what they will ultimately pay for it. A low credit score will almost always lead to an increase in what you pay to obtain credit. Your score will dictate what type of financing you get and if you will get financing at all. The lower the score, the higher the closing cost or interest rate. Credit scores are determined by your payment history, the amount of available credit that you have, the amount of ongoing balances that you have relative to you limit, the types of accounts …

How long can an Alzheimer’s patient survive? A review of expert sources tells us that a person with Alzheimer’s disease can survive from three to 20 years after the first symptoms begin, with the average length being about eight years. Individuals with Alzheimer’s progress at a different rates, and not every victim experiences every symptom or every stage. In addition, some people will plateau at a stage for a long time, while others might speed right through to the next level. Alzheimer’s itself does not cause death, but it can be a contributing factor. The disease typically progresses to the …

Today’s real estate market is very different from five years ago, when buyers were paying “over asking price” for a home. Today, the homes are sitting on the market much longer, and sellers are asking themselves, “Why isn’t my home selling?” and “what is wrong with my broker?” Many factors should be taken into consideration when deciding on an asking price for your home: How many properties are currently on the market in your area? How long have they been on the market? And when they sell, what was their list price compared to their closed price? When realtors suggest …

Last month we celebrated the release of the 1940 U.S. Census online. Well I did. I do mix a fine Manhattan if I do say so myself! It’s been a month and not much has changed. The problem is that the government releases all the census images at the same time, but no one had a chance to index the names so we can search. Since there are 132 million people in the census, it’s taking quite a while to get the indexing done, In fact, as of this writing, only Delaware and Nevada have been indexed complete. So if …

A major new block of genealogy data has recently been released! Every 10 years, genealogists await the release of the U.S. Census Population Schedules. After a federally mandated 72-year waiting period, they release the names and data of everyone who was enumerated in the census. Prior to the 72-year wait, you can find demographic data, such as ethnic trends, but not the list of everyone’s name. When the 1920 census was released in 1992, there were no on-line genealogy web sites. The only way for people to look up their families was to go to the National Archives on 73rd …

Well, Fannie Mae and Freddie Mac promised the world and delivered far, far less. Finally released in March, the Home Affordability Refinance Program (HARP) was supposed to facilitate refinancing among borrowers who are “underwater” (when the home is worth less than the outstanding mortgage). What we are seeing is that, unless you can walk on water, it will be hard to qualify for these loans. Fannie Mae and Freddie Mac have said that they will purchase these loans from banks, but not all banks are welcoming the program with open arms. Banks are saying that these loans are risky and …