Gene's Bit of Blogging

New Leaf credit-improvement program

The New Year is Upon Us. Make '2012' the Year of YOU!

Gene Mundt, Sr. Vice President - Chicago Bancorp: Posted on Friday, December 23, 2011 3:02 PM

The New Year is Upon Us.

Make '2012' the Year of YOU!

The headline reads ...

Average 30-year mortgage rate a record 3.91 pct.

Average rate on 30-year fixed mortgage falls to record 3.91 pct., 15-year flat at 3.21 pct.

And yes ... this means if you're one of those that have earned good credit scores, you could receive this record low interest rate for your mortgage.

Remarkable, isn't it?? And to just prove how very remarkable it is ... I tell you, I've been in the mortgage business for 35 years and when I started out back in the mid-1970's, the average mortgage rate was in the 6% range. Again I say, remarkable!

But this post isn't really meant for those that have good credit scores. (Although I hope you read it and take action to contact me too!) No, it's message is meant especially for those that DO NOT have stellar credit or credit scores ...

Why? Because perhaps even MORE remarkable than this much-broadcasted historical low rate ... is the prediction by many top financial analysts that these rates (or something close to them) are projected to last well into the New Year of 2012. And THAT means that even those without good credit scores presentlymayhave time to improve their scores and still take advantage of good rates in the near future.

I call THAT extremely remarkable too! Perhaps even more so.

So here are my questions for you: Does that sound like YOU??? And if it does describe your present credit scores ... and you hope to buy a home someday ... what are you going to do about it?? Are you going to remain on the sidelines and let this unbelievably good opportunity slip through your fingers??

The New Year is upon us. Does YOUR New Year resolution for 2012 include improving your credit habits and credit scores? Does your resolution include the possibility of a new home? Home OWNERSHIP to fulfill your dreams?? If so, NOW is the time to act.

As the old saying goes, "A journey of a thousand miles begins with a single step". Improving your credit is a journey. Take that single step by contacting me now ... or your mortgage lender ... to get started on your personal journey to credit improvement or repair for 2012.

And I say that whether your future holds the wish for a new apartment, home ownership, or just better opportunities for employment, better insurance rates, improved cell phone costs, or any of a hundred different ways your life can improve with better credit scores.

Whenyou can save money ...Whenyou can improve your life ... When you can make life easier for yourself by taking this important step ... When you can fulfill your dreams ... WHY wouldn't you? WHY aren't you??

It's so easy to do. So very easy to get started. ONE phone call, or email, or text ... I'm that close and that easy to contact. Reach out. Send me your request. Call. Text. Click this button.

Make 2012 the year you ACT. Reach out to me however is most easy or convenient for you and get started. Credit improvement does take time to accomplish. And although they say these fantastic interest rates are going to hang around awhile, that amount of time may be needed to make the improvements required.

Don't lose out and be sorry later! You owe it to yourself to inquire, to ask questions, to take action. Let's get started together on those credit improvements today. I'll be glad to hear from you ...

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You Go to the Gym. You Workout Daily. But How is Your FINANCIAL Fitness?

Gene Mundt, Sr. Vice President - Chicago Bancorp: Posted on Monday, October 10, 2011 5:33 PM

During the process of mortgage pre-qualification, many questions get asked. Among those questions are those pertaining to the applicant's credit and credit scores. This isn't surprising at all, given the enormous importance credit plays in mortgage lending.

What is surprising to me though, is NOT the number of those applicants that don't know their credit scores. Nope. It's the sheer number of those people that think they DO ... and then are totally wrong. It turns out they truly have no clue just how "financially fit" they are.

Now I'm not talking people that are trying to misrepresent the reality of their credit scores. That happens, although I don't understand why someone would try this. I'm obviously going to find out the truth when their credit report is run.

No, I'm talking those that honestly do not know. And being in the dark about credit and credit scores? It's just not financially healthy.

Credit, and credit scores, are written about and talked about often and in great detail everywhere ... and there's a good reason for that. Now more than ever, your credit scores play such a huge part in what you are charged when buying items. Or whether you get those things you want or need to live or work.

Credit scores can be the bottom-line determinate as to whether landlords will rent to you. Whether you will get a utility company to turn service on in your home, apartment, or business when you apply for it. Whether you can get a cell phone provider to put you under contract for cell service. In today's world, all very important things.

Nowdays, you must carry car insurance to drive. What you pay for that auto insurance will be dictated by your credit scores. Other insurance premiums will be affected, as well. Those credit cards with the low low interest rates that you see advertised all the time? You won't be eligible for them, if your credit scores are too low.

Credit scores can't just matter to you when you're hoping to buy a home ...

Everything related above is why it's so important for you to get aware ... and stay aware ... of your credit scores and credit standing. You have to pay attention on an ongoing basis.

Look at it this way ...

Your financial health needs must be addressed much like your physical health needs do. You need a yearly financial check-up, just like you do with your physical check-ups ... only your financial check-up is the act of running your credit report at least once per year.

Again, you don't become financially "fit" just when you're hoping to buy a home. Being knowledgeable about your credit and your financial health should be a lifelong and ongoing regimen. So get knowledgeable about your financial fitness. Find out your credit scores and then stay educated about maintaining and improving them.

I can help you accomplish that. And there will never be a better time than right NOW to get started. So pick-up the phone ... email ... text ... contact me via my website forms ... stop by and talk to me today ...

* Have credit questions or needs? Want to know your credit scores? Get on track to buy a home? Improve or repair your credit and finances? Contact me now. With over 35 years of credit and mortgage experience and expertise ... and my "New Leaf" credit improvement program, I can help you accomplish your goals.

I can be contacted by any of these means:

Direct: 815.277.4036 Cell/Text: 708.921.6331

Email: gene@chicagobancorp.com

Website: www.genemundt.com

Click here 4 a: NO Cost NO Obligation Mortgage Consultation

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Feeling Financial and Credit Stress? Return to Good Health Following These Suggestions ...

Gene Mundt, Sr. Vice President - Chicago Bancorp: Posted on Sunday, August 07, 2011 3:56 PM

Statistics told us, that prior to Christmas of last year, Americans were doing a pretty good job of decreasing their debt, especially on credit cards, plus they were in a savings mode too.

But according to statistics recently released by the Federal Reserve, revolving debt (mostly credit cards) is up 5.1%. It is the biggest increase seen in this type of debt in over 3 years.

That isn't completely bad news, as it signals a loosening of credit to some extent, a return to spending to some degree, and a return to marketing by retailers/businesses. More are actively seeking new customers once again. All good things.

But for some consumers, it also means that current financial stresses might have finally caught up with them (or continue) and they are being forced to place more expenditures on some form of credit.

In these instances, Americans are having to make some pretty heavy-hitting decisions as to the payment of their bills. They're having to make tough calls on what bills to pay, in what order to pay them, how much to pay on them, and what priority must be placed on each. This issue is probably one of the most common questions I hear by those facing financial stresses.

Let me first say, there is no firm or concrete answer to this question. Each person has their own set of unique financial circumstances to face, so the answer and actions taken must be personalized to fit their personal financial scenario. But as a rule, the following is the guideline I give my clients as to: WHO to pay when these circumstances occur .. and WHAT bills should take priority when money is available to make payments.

Remember tho, if legal documents, judgments, or court orders have been put into play, this list might have to be revised accordingly. Ignoring legal issues (or placing them on a back-burner) is not wise. Also remember that, while stressful and very hard to deal with, threats of lawsuits or menacing phone calls by debt companies should not change the order in which you pay your bills.

Stick to a game plan that will protect and feed you, your family, your housing, your ability to get to your employment ... there IS a pecking order of importance.

My suggestions for bill payment, in order of priority:

Mortgage/Rent
Installment Loans

Cars/Boats/Trucks, Etc.

Student Loans

Secured Loans (Collateral)

Revolving Credit (Credit Cards)
Utilities

* Gas Bill (Nicor in IL reports to TransUnion. In the IL/Chicagoland area it is the only utility that does so. If your state/region, check to see what utilities this might apply to and act accordingly.)

* Collections (Do NOT ignore collections. Try to make monthly payment arrangements with any company that is threatening a collection. Be as pro-active with your debt and responsibilities as possible.)

Be aware also, that whether primary debt holder or co-signor on a loan ... you are responsible for re-payment of debt according to the contract/agreement. So if you have signed for credit with a family member, friend, etc. ... the debt will be viewed as yours too and your responsibility.

If that friend, family member, etc. that you signed for is suffering financial hardships/stress, or not making the payments as you thought they would, the debt/credit issues become yours to share in.

Perhaps the other suggestion I make when asked about credit and devising that "game plan" I speak of above, is this ... don't think you have to go it alone. There are plenty of opportunities for FREE financial/credit guidance and help out there.

As a mortgage lender, I can order your up-to-date credit report and offer timely, experienced guidance and assistance to face your credit/financial status. That is a very good start towards returning to good credit standing and good financial health.

* If you are in need of credit or mortgage advice, guidance, or service .. please contact me immediately. I can be reached at: Direct: 815.277.4036 Cell/Text: 708.921.6331 Email: gene@chicagobancorp.com Website: www.genemundt.com

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The best Summer crop? Potential Home Buyers with Newly-Approvable Credit!

Gene Mundt, Sr. Vice President - Chicago Bancorp: Posted on Monday, August 01, 2011 12:53 PM

My best Summer crop? It's Also Good News!

Potential Home Buyers with

Newly-Approvable Credit ...

While going over my databases this last weekend, I unearthed exciting news not only for myself, but for my referral partners too. I've been tracking the progress of many clients that were in a specific category of potential home buyer ... that being the "near miss" credit category.

What's a "near miss"?

When they first contacted me for mortgage information, these potential homeowners were close to being able to buy a home. They were on the target for loan-approvable credit, but just not a "bullseye" yet.

So while some others, perhaps more immediately credit-worthy future home buyers, were eyeing-up the market ... playing the waiting game ... hoping that prices would drop further ... playing Russian-roulette with interest rates ... these "near miss" buying hopefuls were making pro-active strides to get their credit spruced-up and raise their credit scores.

How were they accomplishing this?

Together, their representing agents or attorneys and I "planted" seeds. The seeds were their "near miss" home buying clients that needed just a bit of water, some close attention, and the right "fertilizer" to blossom into credit-worthy and credit-approvable home buyers. The fertile ground we planted them in? My New Leaf credit-improvement program.

And this New Leaf program is reaping very positive results, as evidenced by my database stats and review this weekend. I have FHA home buyers that, after entering the New Leaf program, have jumped their mid-credit scores above 640, simply by opening up a secured credit card, utilizing and making the correct payments, and following the guidelines set down for them.

USDA hopefuls (in the Chicagoland collar counties) have performed much the same and now have approvable 620 or greater middle credit scores as well. I find that very exciting! It proves that with the right direction and assistance people CAN and WILL improve their financial standing and improve their credit scores.

Other proof of "near miss" buyers making vital improvements were evidenced while I reviewed my databases. And just as predicted, their improvements in credit scores had happened the very next month after initiating the New Leaf program.

Proof of their success? They had Pre-Approval Letters in hand and are now actively searching for a home with an agent. Many of these newly-active approvable home buyers once assumed that their credit would prevent them from seeking a new home for at least a year. They mentally had put their dreams on hold. But as evidenced by the information and statistics in front of me, that assumption was (happily) wrong.

So I strongly suggest ... If someone hoping to buy a home at any point in the future, but facing credit issues ... contact me. If an agent or attorney working with someone presently in that financial situation, contact me.

"Near misses" can be cultivated into viable, ACTIVE home buyers with the proper attention, care, and "fertilizer". I will provide all of those vital ingredients and guide and assist "near miss" home buyers through my Chicago Bancorp New Leaf credit-improvement program.

"Near misses" can become a "bumper crop" of successful home buyers ...

* Please contact me today should you have any questions regarding mortgages, credit, credit-repair, mortgage service, or my New Leaf credit-improvement program. I'll be happy to answer your questions and provide the service and guidance you need.

I can be reached at: Direct: 815.277.4036

Cell/Text: 708.921.6331 Email: gene@chicagobancorp.com

Skype: 630.219.1316 Website: http://www.genemundt.com For a NO Cost No Oblilgation Mortgage Consultation: http://www.genemundt.com/Mortgage-Consultation.html

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New Leaf credit-improvement program

The New Year is Upon Us. Make '2012' the Year of YOU!

You Go to the Gym. You Workout Daily. But How is Your FINANCIAL Fitness?

Feeling Financial and Credit Stress? Return to Good Health Following These Suggestions ...

The best Summer crop? Potential Home Buyers with Newly-Approvable Credit!