Gene's Bit of Blogging
Families
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Gene Mundt, Mortgage Lender: Posted on Thursday, April 12, 2012 4:44 PM
Mothers Day Celebrations and Activities in Chicagoland, 2012
Mothers Day 2012 is Sunday, May 13th. Do you know how you're going to celebrate?
There are many
opportunities all over the Chicagoland area for families to celebrate the wonderful mothers
in their lives in a wide variety of ways. I'm
including some info below that I found while doing some research of my own. Hope it proves helpful to you.
I think there's something here for almost every personality, pocketbook, and taste. So take a peek and find something you think will be perfect for your mom ... and then Enjoy!
Mothers Day 2012 in Chicagoland!
Several Packages for the
Mother's Day Brunch are Available May 13, 2012
Several Dining Options available. General admission & reserved seats remain available, as of this writing, for Mother's Day. Purchase can be made online at: or by calling to: 847.870.RACE (7223) Kids will enjoy the NEW Jr. Jockey Zone, FREE Pony Rides, Petting Zoo, and Hands-On Activities
Lyons Township Dog Training Club 70th & 71st AKC Dog Obedience Trials Saturday, May 12th
Sunday, May 13th AKC-sanctioned dog obedience trials and rally trials 1033 North Villa Avenue, Villa Park, IL Sunday:
7:00AM - 6:00PM
Saturday:
7:00AM - 6:00PM Tickets Cost: FREE Contact Information: 630-941-9292
Motorcoach Parking: On-site, Free
Services for equal accessibility: Wheelchair Accessible,
Toilets with grab bars
Mothers Day tea will include
traditional afternoon tea service, a beauty bar where mom
can get pampered, and a fashion show. May 13th - Afternoon Tea: Seating’s from 11am to 5pm
- Price is $36 per Adult and $18 per Child under 12
- Harpist performs from 11am to 5p.m.
- Beauty Bar available from 12noon to 5pm – Mario Tricoci
- Fashion Show
Phone 312.787.2200
Have a Mom that
LOVES to Shop?? Head to:
A visit to this vintage clothing store will be a treat for any shopaholic mom! In
addition to Dolce & Gabbana frocks and Diesel Jeans, Savvy Seconds &
1sts carries an array of accessories.
Hours are: 11 am - 7 pm Mon.-Sat.
11 am - 6 pm Sun. Questions: 773. 728.8920
Lincoln Park Conservatory Last Day of Show Hours: Daily, 9 am - 5 pm - Accessible Wheelchair Entrance(s)
- Partially accessible
FREE!
May 6th Fundraiser for Heartland Service Dogs Held at:
Hours: 11 am to 3 pm Get your pet washed and dried so they're all sweet-smelling and fluffy for mom. Reservations for Appointment needed Email: HeartlandSvcDog@yahoo.com All dogs MUST have current rabies tags $15.00 Donation per Dog Wash
Make It To Take It:
Mother's Day Brunch Family Class May 12th - 1:00 pm Bring the kids and get ready to give mom the morning off.
We'll stir up a
family-pleasing brunch menu that everyone can
contribute to and the
added bonus: you take it home to
surprise Mom tomorrow! Add ice to the
juice cocktail,
bake the Strata, and you have a glamorous, no-fuss meal.
$50/family of 3, $10 each extra person
Menu
- Sparkling Juice Cocktail
- Strata with Asparagus and Goat Cheese
- Strawberry Yogurt Parfaits
Reservations are required. To Buy Tickets, Go To:
Mother's Day Shop-A-Holic Expo Date: May 12, 2012 Location: Hilton
Garden Inn
Hours: 1pm-6pm Admission Tickets: $5.00
Door Admission: $8.00.
Children
Admission is FREE.
This is a Cash-n-Carry event. Spa Services, Raffles, Candy Buffet Bar, Gift Bags,
Door
Prizes,Vendors, Music
Kayak Chicago - Architectural Tour Saturday, May 12th & Sunday, May 13th
Kayak down the Chicago River to gain views of our beautiful City of Chicago from a unique vantage point ... from the waterway!
See Trump International Hotel and Tower. The Wrigley Building. Listen to fascinating historical anecdotes regarding mobster Al Capone. You don't need to be a kayaking expert. Everyone's welcome.
Bring sunscreen, sunglasses, and your camera in a waterproof bag. 3 Hour Tour Beginning at Noon
$65 per person For further info, call: 630-336-7245
Barrington Mother's Day 5k Run/Walk May 13th
Registration &
Packet Pick Up: 7:00-7:45 a.m.
Free 100 meter kid's
dash @ 7:50 am Register at: 5k Starts: 8:00 am Awards: 8:50 am Course Open For 1
hour 20 minutes Course is USATF
certified. Awards presented to the top 3 participants,
male and female overall, and top 3 in each age group.
Must be Present to Receive Award. Strollers allowed on course. Water station available along the course with water and
sports drink. Free Parking!
For additional info, Phone: 847.344.0861
Family Farm Tours Saturday, May 12th & Sunday, May 13th
The Children's Farm During family farm tours, farm guides invite the public into
each animal pen and are ready to supply information about the animals to
inquiring visitors. Complimentary
pony rides are offered for children.
Hours: 1:00 pm to 4:00 pm
No reservations needed Cost: $4.50
per person
Children under 2 - Free Additional Info: 708.361.3650
Hope these suggestions prove helpful to
everyone in finding outings and ways
to celebrate the mothers in your life!
Best Wishes to all!
* Another great Mother's Day activity surrounds home buying! If you're in the market this Mother's Day holiday, for a new home ... or just wanting to refinance the one you have ... contact me. With over 35 years of mortgage experience and expertise, I can help you successfully finance a new home ... or save money on the monthly payments of your current home. You can find me through any of the following:  Direct: 815.277.4036
Cell/Text: 708.921.6331 Let's Talk, via Skype: 630.219.1316 |
Chicagoland, Localism Posts, Announcements and News, Chicagoland Activities, Calendar of Chicagoland Events, Chicago, Community Info, Families, Family Activities, Special Events, Children, Holiday Events, women, Holidays, Charity/Charity Events, Will County Activities, Moms
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Gene Mundt, Mortgage Lender - The Federal Savings Bank: Posted on Thursday, March 29, 2012 3:21 PM
Naperville, IL Graduating Seniors! Apply Now for the
Naperville Junior Woman's Club 2012 Scholarships
Scholarships are awarded on the following merits:
- Scholastic Achievement
- Community Service
- School Involvement
- Financial Need
Fill-out the application and send to:
NJWC Scholarship Committee
5032 Switch Grass Lane
Naperville, IL 60564
All Naperville Junior Woman's Club (NJWC) scholarship applications
must be received by April 15, 2012. Scholarships candidates will be
notifed by email or telephone of the Club's committee decision.
Scholarships themselves will be awarded at the Naperville Junior Woman's
Club's May general meeting.
Good luck to all the Naperville, IL area graduating senior candidates applying for these 2012 Naperville Junior Woman's Club (NJWC) scholarships ... and for success during your upcoming college ventures.
* To receive information and assistance regarding mortgage financing to purchase a home in Naperville, Du Page County, or Chicagoland ... please contact me. My entire 35 years in the mortgage business has been served benefiting home buyers and home owners in Naperville and the surrounding Chicagoland region. I'd love the opportunity to earn your trust and your mortgage business. I can be contacted through any of the following: Direct: 815.277.4036 Cell/Text: 708.921.6331 Skype: 630.219.1316
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Chicagoland, DuPage County, Localism Posts, Announcements and News, Schools, Naperville, Community Info, Families, DuPage Township, Education, Family Issues, Educational Opportunities, Charitable/Community Organizations, School Districts
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Gene Mundt, Sr. Vice President - The Federal Savings Bank: Posted on Saturday, February 25, 2012 9:51 AM
Considering Helping Your Child
Buy a Home? What Parents and/or Co-Signors Need to Know
 Within the current housing market, there is great opportunity to be found, especially if you're a first-time home buyer. Home prices are down ... lower than they have been for almost an entire decade. And Interest Rates?? The cost of borrowing, in regards to Interest Rates, is at historic lows ... truly a gift, should you be able to take advantage of them.
With all the positive opportunities that exist, many buyers, along with their families, are looking for ways to take advantage of these current positives by buying properties with the assistance of Co-Buyers/Co-Signors. Most considering this path to home ownership are parents and/or relatives.
As a mortgage lender, it is not uncommon for me to receive questions regarding this method of home buying. "Co-Signing" is happening more and more often. In mortgage terms, this method of buying/borrowing is called being a "Co-Mortgagor" ... a fancy term for "another borrower".
This practice is typically utilized when the "non-occupying" Co-Borrower (let's just say a parent) is the stronger applicant on a mortgage ... and his/her income, credit, and assets make for an approvable loan when the "main borrower/buyer" is not able to qualify for a mortgage on their own. Put another way, the child in this scenario is buying their first home, often has adequate credit ... but lacks the job history or income to qualify on their own.
Considering the (child's) parent's income and credit and debt, makes the loan approvable because the parents' "vitals" help the numbers ... meaning the debt-to-income ratios ... needed to reach the approval level. With FHA, the down payment requirement is only 3.5%, and the Borrower (who MUSToccupy the purchase residence) gets as good of Interest Rate as if they had borrowered on the mortgage alone.
Obviously this is great for the son/daughter, but what about the "Co-Signor, Co-Mortgagor, Parent" involved? The fact is, they will share the same debt and note responsibility as the main applicant. That debt/responsibility will appear on their credit report as their mortgage obligation. If the child misses a payment, the parents (Co-Signors/Co-Mortgagors) credit report will show as having a late payment. A very valid reason for all parties involved to give this great consideration prior to agreeing to start the mortgage process.
 Consider this tho ... Co-Signors/Co-Mortgagors (in my most recent Co-Signor/Co-Mortgagor case) were considering buying a home on their child's behalf, because they didn't think the child could qualify on their own. These parents were fully-prepared to put forward a 20-25% down payment, purchase the home in their own names, and then move the child in as a tenant. The ability to become Co-Signors/Co-Mortgagors changed the financial scenario they received significantly for them and their child.
How did it change? What are the differences to be found within the two methods of home buying?
The biggest difference is in how the bank perceived their upcoming ownership. Parents that just buy a property outright and rent it to their child are considered investors by the bank lending money. Investors pay higher interest rates to borrow money (typically a minimum of 3/4%) ... and/or their Closing Costs rise several thousand dollars. Why? Because the bank considers this type of loan a higher RISK because of the "occupancy" status of the property.
Now you know a bit about the ins-and-outs of Co-Signing/Co-Mortgaging. But if you're a parent, or someone considering Co-Signing/Co-Mortgaging, you're going to need to know ... where and how do you start the process? What financial documentation will be expected from you? What funds will be subject to verification?
Much of the process of mortgage financing will be the same for Co-Signors/Co-Mortgagors as for the actual resident(s) of the property. A handy list of those financial documents needed for mortgage application can be found via my website, by clicking ... "HERE".
What is probably the most common concern or question I hear from Co-Signors/Co-Mortgagors (parents), is ... "How has the mortgage process changed since I last participated in it"?
There is no denying the truth. For a great many parents the mortgage process will be unrecognizable from their own prior financing experiences. And admittedly, the requests for documentation and verification will seem a bit overwhelming.
But documentation and verification is what is required to move the modern mortgage process along to successful completion. Underwriters and end-lenders will not be deterred from it. Co-Signors/Co-Mortgagors must be prepared to have monies/accounts/downpayments verified, along with their employment, credit/debt, and more, just as their child will.
Now, more than ever, the mortgage process itself is specific to those borrowers taking part in it ... so individual and personalized instructions regarding your financial scenario will be provided by your mortgage lender. Listen. Learn. Comply.
If you do so, those requests are completed in a timely fashion, and the lender's instructions are followed, Co-Signors/Co-Mortgagors can help their child successfully establish credit, obtain historically low interest rates, and buy a home at very friendly housing prices.
Should this be a financial step you are considering within your own family ... contact me, or your own mortgage professional, to obtain information specific to your needs.
Becoming a Co-Signor/Co-Mortgagor for your child could be the gift that sets them down the path to a healthy financial future.
* For personalized mortgage information and service regarding your family's Co-Signor/Co-Mortgagor options in Chicago, Chicagoland, or across the nation, please contact me. I will put my 35 years of mortgage experience and expertise to work on your family's behalf. I can be contacted through any of the following: Direct: 815.277.4036 Cell/Text: 708.921.6331 Skype: 630.219.1316
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Credit, Buying a Home, Credit Reports/Fico Scores, Mortgages, Chicagoland, DuPage County, Will County, First-Time HomeBuyers, Families, Debt, Mortgage Closing Costs, Asking credit and mortgage questions, Home Buyers, Children, home buying, Right Time to Buy a Home, FHA Mortgage Lending, Down Payment, Mortgage Costs, Closing Costs, Interest Rates, Pre-Qualification/Pre-Approval, Baby Boomers, Co-Signing Mortgages, Parents/Relatives Assisting with Down Payment/Home Buying
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Gene Mundt, Sr. Vice President - Chicago Bancorp: Posted on Tuesday, January 03, 2012 4:00 PM
Seeing the Light ... a Simple Guide to
New Light Bulbs
 Back in 2007, a new law entitled, "The Energy
Independence and Security Act" was signed.
It was expanded upon in 2010. As
a result, new requirements and efficiency standards were placed in line for the common light bulb.
Well, I walked
down the light bulb aisle at Home Depot about a week ago and Wow! Talk about confusing! So over this
weekend, I did a little reading ... and I thought I'd share what I
found. Hopefully it will prove
beneficial to you and the links provided will serve as some guide when you're
shopping for light bulbs next time.
First: The bulbs that are being phased-out are the
four most common incandescent bulbs used ... the 40-watt, 60-watt, 75-watt, and
100-watt bulbs. Sales and supplies of these
bulbs will not automatically cease upon the implementation date of the new
standards. Stores will be able to sell
their existing supply of 100-watt incandescent bulbs until they're out of
stock. Manufacturers will not be able to
produce any more of the bulbs, based on their old energy-emitting standards
beyond the law's implementation date.
Second: Forget the old standard terminology. What you need to know and understand now is
"lumens". New light bulb
packaging will be required to display "LIGHTING FACTS". This should be helpful to you while trying to
make a comparison of products and buying.
Here's a handy guide that will help you replace your old wattage bulbs
with those rated on lumens:
- To replace a
100-watt incandescent bulb, look for a bulb that gives you about 1600 lumens.
If you want something dimmer, go for less lumens; if you prefer brighter light,
look for more lumens.
- Replace a 75W bulb
with an energy-saving bulb that gives you about 1100 lumens
- Replace a 60W bulb
with an energy-saving bulb that gives you about 800 lumens
- Replace a 40W bulb
with an energy-saving bulb that gives you about 450 lumens.
Third: Other terminology that will now become
important refer to the bulbs appearance as "warm" or
"cool". The bulb you choose
for a specific location will most likely be based upon your personal taste for
these conditions of lighting.
 Fourth: You DO stand to save energy and money through
replacement of your old bulbs with the new.
But how much?
Below is a
rule-of-thumb guide, as to those savings:
- Energy Saving
Incandescents — about 25% energy savings
- CFLs — about 75%
energy savings
- LEDs — about 75% –
80% energy savings
It's estimated
that an ENERGY STAR CFL bulb typically
lasts up to 10 times longer than your old traditional bulbs. And ENERGY STAR qualified LED bulbs do even
better, lasting as much as 25 times
longer.
Yes, these new
more energy-efficient bulbs cost more initially. That can't be argued. But if you truly realize the savings
predicted above over the life of your new bulbs ... you'll be hearing
"cha-ching"!
Fifth: So you make the decision to replace your old
bulbs and invest in new, more energy-efficient ones. What other information regarding the new
bulbs will be helpful moving forward?
Because CFL's
(Compact Fluorescent Lights) contain a small amount of mercury within them, at
the end of their lifespan, these bulbs should be recycled. That recycling can be accomplished in a
variety of ways, but below are your most convenient and accessible.
Just a note too
... ENERGY STAR-qualified bulbs earn a ENERGY STAR label by meeting the energy
efficiency requirements set forth in ENERGY STAR specifications. ENERGY STAR is the government-backed symbol
for energy efficiency helping us all save money and protect the environment
through energy-efficient products and practices. They provide a replacement program to protect
your purchase, should the bulb you buy not work. This is a feature that could be very helpful
and cost-wise, given the upfront expense of the new bulbs.
Also, please note that not all
bulbs are being phased out. Be aware
that the following are not effected by the new law. The Energy Security Act focuses primarily on
"general service light bulbs."
A long list of specialty light bulbs, including plant lights, bug
lights, appliance bulbs (such as refrigerator lights), colored
"party" bulbs, rough service, 3-way incandescent, and candelabra base
bulbs are presently on the exemption list.
Some of exceptions will be reassessed in 2020.
I hope the above
information "sheds some light" on the topic of the new federal
standards surrounding light bulbs for you.
* Taking steps to save money is always wise. Why not see if you can save money within your present home by refinancing ... or buying a home VS renting. It costs you nothing to inquire and get the answers you need. Contact me today! I'll be happy to talk over your personal financial scenario and seek a money-saving solution for you. I can be reached through any of the following means: Direct: 815.277.4036 Cell/Text: 708.921.6331 Skype: 630.219.1316 |
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Gene Mundt, Sr. Vice President - Chicago Bancorp: Posted on Friday, December 23, 2011 1:05 PM
A Holiday Gift For You, My Friends ...
From Me!
Each year, Marilyn and I put together a new mix of Holiday
music for friends and family. We try to
come up with a new "theme" of music for the year's blend of tunes,
offering music that is familiar and songs less heard. We've enjoyed re-discovering and sharing
music that we enjoyed as kids .... and discovering new tunes, as well.
This year's compilation of tunes was our
6th. We gave out over 80 copies of our
CD, that included 20 songs revolving around "Holiday Memories".
Both of our
families were (and remain) music nuts.
Each of us has vivid memories of Christmas and Holiday music in our
homes. Each home had its favorite albums
and performers. My father was a Big Band
fan, so we heard lots of melodies served-up by that era's biggest stars. We also heard many of the 50's and 60's
stylists ... Perry Como, Eddy Arnold, Tony Bennett, Frank Sinatra, Rosemary
Clooney, Andy Williams.
And while
Marilyn also heard these musicians, her mom was their church's choir director. Her mom's love of that music and classical
music shone through and filled the air, as well. Her childhood home was filled with the sounds
of George Beverly Shea, Tennessee Ernie Ford,
Tchaikovsky's Nutcracker, Mantovani, lots of brass quartets, and
more. Add the favorites and influences
of each of our siblings ... and we have
a wide choice of music from which to choose our new CD each year.
Even our kids
have gotten involved and are making suggestions for additions to each new
CD. That's how we were introduced to the
song I include below. It's become one of
our favorites and was included on our CD mix a couple of years back.
It's performed by Harry Connick, Jr. ... and
I send it your way as my "gift" to you this Holiday Season. I hope you enjoy it as much as our family
does.
Best Wishes to you and yours for Good Health, Happiness, Love, and Prosperity throughout the New Year!
Gene
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