Gene's Bit of Blogging

Senior Issues/Reverse Mortgages

It's Going to be HOT in Chicago and Chicagoland this Holiday Weekend! Protect Yourself During 100 Degree Heat and Sun ...

Gene Mundt, Sr. Vice President - Chicago Bancorp: Posted on Wednesday, June 29, 2011 8:02 PM

The Chicago SunTimes says 100. The Chicago Tribune/WGN's Tommy Skilling says 100 too!

What am I talking about?

The Chicagoland weather forecast for this week! That means heat and dangerously high temperatures. It also means sunshine. Lots and lots of sunshine.

Two of summer's most potentially damaging health issues can result from heat and sun. A cool, comfortable place to stay during extreme temperatures is a must for Chicagoland residents and visitors.

The State of Illinois' "Keep Cool" Campaign makes over 120 state facilities available as cooling centers. Cooling centers are open throughout normal business hours (8:30 am to 5:30 pm, Monday through Friday) at these facilities. Extra information is available by calling the Illinois Department of Human Services hotline at (800) 843-6154.

Many park districts, libraries, churches, community centers and more are available as cooling centers throughout Chicago and Chicagoland communities. If looking for a cooling center in your community, please check with your local village hall or police station. They should be able to direct you to the nearest center or to those that can provide assistance.

If you know of seniors that live in your area, please ... check on them periodically to make sure they are safe and comfortable throughout this heat wave. They are among the most sensitive to high temperatures and the health damage it can cause. Additional info on the "Keep Cool" Illinois campaign can be viewed at: http://www2.illinois.gov/KEEPCOOL/Pages/coolingcenters.aspx.

The second health issue surrounds the protection of your eyes to high-intensity light. The sun's ultraviolet (UV) rays can severely damage the lens and cornea of your eyes. Those that work outside are particularly susceptible, often getting cataracts. Should outdoor work be near water, concrete, or sand ... the light bouncing off these surfaces can be especially damaging.

Sunglasses are a must and should be worn whenever outdoors, whether in hot, mild, or cold weather. How do you know what sunglasses protect your eyes best though?

When shopping for sunglasses, pick those that offer the following:

Full protection against the UV rays ... both UVB and UVA. That means the lenses block either 99% or 100% of these rays.
Also make sure that the lenses meet the standards of the American National Standards Institute.
Lenses that block light rays with wavelengths of up to 400 nanometers (UV 400).
Gray lenses. Sunglasses with gray lenses cause the least color distortion when worn.
Polarized lenses. Polarized lenses address reflected glare issues, improving the ability to see.
Wraparound sunglasses protect you best. They block light from entering from the side and hitting your eyes.
Larger lenses are recommended for the same reason. Coverage from brow to cheekbone is best.

Adding additional light coverage is good. Wearing a hat with a protective brim, along with sunglasses, will block sunrays more completely from hitting both skin and eyes. Sunlight is at its' strongest and most intense between the hours of 10 am to 4 pm. Limiting exposure during those hours, if possible, is wise.

Contact lenses are now created that can protect eyes from UVA and UVB light too. Check with your eye doctor to make sure that any contacts you have are recommended by the American Optometric Association.

Sunglasses should be worn from early ages on. Just like being in a carseat, toddlers/youngsters should learn that sunglasses are meant to protect them and are a necessary piece of "equipment". Children's sunglasses should follow the same guidelines as adults. To make it more enjoyable for kids to wear sunglasses, let them choose something that is protective, but fun.

Enjoy the warm weather, but protect your health, eyes, and each other throughout the hot days ...

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DuPage County (IL) Senior Citizens Real Estate Tax Deferral Program. Information and Applications Now Available

Gene Mundt, Professional Mortgage Banker - Chicago Bancorp: Posted on Friday, January 14, 2011 7:51 PM

DuPage County in Illinois, like many other counties, offers many helpful forms of assistance to the senior residents living within its borders. One such program, is the DuPage County Senior Citizen Real Estate Tax Deferral Program.

Each year from January 1st to March 1st, the County opens application for participation in this beneficial program. The program assists its senior residents by allowing them to defer the property tax payment on their principal residence.

The deferment of a tax payment is similar to a loan against the senior's property market value . Deferrals are borrowed from the State of Illinois, which in turn pays the current property tax when due. The State of Illinois ensures repayment of the deferred amount through a 6% simple interest rate "loan". A lien isalso filed on the residential property. Special Assessments taxes levied by your village or their water and sewer district may also be deferred.

To qualify, DuPage County senior residents must fit the following qualifications:

The residential property must be their primary residence and used exclusively for residentialpurposes.
The senior resident(s) household combined income cannot exceed $50,000 annually.
Senior must be 65 years of age or older by June 1, 2011.
Senior must have resided in deferred tax property for minimum of the last 3 years.
Senior must have NO delinquencies of payment on their property taxes.
Senior must have NO special assessments on said property.
Senior resident/said property must carry current and adequate Fire and Casualty Insurance.
Senior must Own the property, share joint ownership with a spouse, be the sole beneficiary of said property, or be the sole beneficiaries of a land trust for said property.

Application forms (Form IL 1017 and IL 1018) for participation in this year's DuPage County Senior Citizen Real Estate Tax DeferralProgram have automatically been mailed to those senior residents that took part last year.

For new senior participants, the following information/documentation must be provided at the time the completed application is submitted:

Social Security Number
Proofof propertyownership
Copy ofcurrent Homeowner's Insurance Declaration page
Proof of age
Otherqualifying information

To receive or download an application, you can call the DuPage County Treasurer's office at: 630.407.5900 or visit its website at: http://www.dupageco.org/treasurer/. Additional information or questions may be addressed through either contact, as well.

Completed application forms can be returned by mail, or dropped-off in person, at the DuPage County Treasurer's office located at: DuPage County Treasurer, 421 No. County Farm Road, Wheaton, Illinois, 60187.

Please note that the applicant's signature must be notarized. Notaries are available at the DuPage County Treasurer's office, Monday through Friday, from 8:30 am to 4 pm each day for its residents' convenience.

* For information regarding Reverse Mortgages, regular residential and small property lending, and Financial Planning, please Contact: Gene Mundt, Mortgage Banker at Chicago Bancorp, Cell/Text: 708.921.6331, Email: gene@chicagobancorp.com. Thank you!

www.genemundt.com

gene@chicagobancorp.com

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Real Help Does Exist for Area Residents. Attend the Community Provider Resource Fair Held on Tuesday, January 18th in Romeoville, IL

Gene Mundt, Professional Mortgage Banker - Chicago Bancorp: Posted on Monday, January 03, 2011 1:25 PM

The internet has become an invaluable source of information for the vast majority of Americans. Type in a few words for almost any search and you get pages and pages of information, facts, and figures.

Still, nothing beats the special resources, attention, and touch that can be given and received only between caring humans.

That human "touch" will be evident and in play on Tuesday, January 18th when Valley View Community Unit District 365U and Plainfield Community Consolidated School District 202, co-host the "FREE Community Provider Resource Fair".

This beneficial Resource Fair will be hosted for area individuals and families at the Romeoville Recreation Center located at 900 W. Romeo Road located in Romeoville, IL. (Click for Location/Directions).

Some of the 100+ resources and service providers on hand for the January 18th Resource Fair will be:

Health Experts
Housing Experts
Financial Experts
Counselors
Homeless Liasons
Mortgage Counselors/Experts
Governmental Agencies/Resources (Local, County, State)
Social Workers
More

Those that attend this Community Provider Resource Fair will receive a resource manual filled with information from a plethora of community agencies that offer guidance and assistance. Helpful child care services will be availablefor $1 for those families in attendance.

This Community Provider Resource Fair will be a great way for area resident's to learn about those many resources available to them and their families, plus it will provide good opportunities for initial contact with these resources. Those in attendance can leave the Resource Fair having been able to establish those very important first contacts, and comforted by the fact that they have actually started the process initiating real help for themselves and their families.

Attendees of the Resource Fair will be able to enjoy the music and entertainment offered-up by the Bolingbrook High School "Raiders" Music Department that day. Free popcorn will be available as well.

Should additional information be needed regarding this Community Provider Resource Fair, please call 815.302.3895 or 815.886.2700, Extension 244.

* As always, should you, or someone you know, have questions or need assistance in regards to mortgages, mortgage lending, credit, and financial planning ... please contact me. I will be happy to assist and guide in whatever manner possible. Thank you. http://www.genemundt.com/Contact-Me.html

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SCAMS ... Don't Be a Tomato Ripe for the Picking

Gene Mundt, Professional Mortgage Banker - Chicago Bancorp: Posted on Friday, September 24, 2010 8:47 PM

SCAMS ... Don't Be a Tomato Ripe for the Picking

I don't know where to start first when writing this post and addressing the issues contained within it. I believe there are multiple messages that need to be heard ... and heeded. As you read on, you will see what I mean.

Over this last weekend, I received a call from very upset and frantic clients of mine. They are an older couple that I have known for decades and have become very fond of. This couple is also a long-time husband and wife real estate agent "team" that I have worked with throughout those many years. You just can't find sweeter people anywhere. They have come to mean alot to me.

You could hear the real and tangible fear in both of their voices as they described to me what had occurred to them. While listening, it soon became clear that a scam had been perpetrated on this couple via email ... an email that was definitely no schlock or amateur job. The offending email had looked completely official to them. Logos, addresses, and some telephone numbers in the usual company communique places. It became obvious that the perpetrators had dug-up just enough valid personal information regarding this couple that everything would seem in order when they received the email. And it had .. at first.

Long story, short ...

My client friends called me for guidance on heading-off credit and financial disaster after figuring out that this email was a scam. They wanted advice on where they could start to stop the damage done. Who to call? What precautions should be in place? Telephone numbers? They had given a Social Security number out prior to suspicions arising. They knew that alone was not good. There were so many things they were fearful of now.

My first suggestion was to contact the 3 major credit bureaus: Experian, Equifax, and Trans Union. Alerts needed to be placed on their credit. Be aware here: Telephone numbers to credit bureaus can be hard to nail down. They change them every 6 months for security reasons. The numbers and contact information found below is a good place to start your communications. Each bureau will transfer you to the exact department needed, should these numbers not prove to be the most updated numbers available.

Experian
P. O. Box 9595 [see note], Allen, TX 75013-9595 Tel: 888-397-3742

Equifax
P. O. Box 740241, Atlanta, GA 30374-0241 Tel: 800-685-1111

Trans Union
P. O. Box 1000, Chester, PA 19022 Tel: 800-888-4213

The next suggestion was to call ALL credit card companies and make them aware of the problem that existed. I also recommended that they ask the card companies to cancel all current accounts and reissue new cards. This would alleviate any possibility of fraudulent charges being made on accounts.

ALL banks and credit unions should be contacted immediately too. Debit cards, issued on accounts held, would most likely be replaced, just as the credit cards would be. Alerts will be placed on all accounts that this couple held. The same should apply to any kind of account they hold anywhere. The more alerts placed, the less likely it is that fraud can happen down the road.

My instructions also contained this special note ... Take the names, the direct telephone numbers, and note the time of EACH conversation you have had with ALL those you speak to regarding this issue at EVERY company, bank, or bureau. Should you have to place subsequent calls or make note of a prior conversation, you have full proof of to whom you have spoken. This is very important and I cannot stress it enough. Call it an extra insurance policy for yourself.

Even after helping my friends this weekend, my concern for them seemed to linger on. I was unsettled. How could this problem have been avoided in the first place? These were business people ... aware, intelligent, fairly computer saavy for their generation. Yet still ... here they were facing this issue and scared to death. Plus, how could I help to make sure that this doesn't happen to others?

Anyone could find themselves in the same position. These scammers are intelligent and technologically sophisticated, so no one should fool themselves into thinking that a similar problem cannot happen to them or someone they care for. But in this particular case, I believe that the age of the couple made them more vulnerable to the scam they suffered. Without divulging specifics, everything I heard pointed to this being the case. These scammers were predators.

And that brings me to what I feel might be the most important message of note found within this post. Although it is not easy to have conversations concerning finances and the capabilities that still exist for senior loved-ones to maintain control of their lives ... these conversations MUST be conducted. This is especially the case when the seniors are involved in on-line computer activities. Extra precautions need to be in place. More frequent discussions regarding up-to-date security precautions and protections should also take place.

These waters can be hard to navigate, but each family must learn how to navigate them openly and honestly without trouncing on the independence of the senior or hurting feelings. A family used to fear that a scammer would knock on their senior loved one's front door. Now that feared "knocking" also comes technologically ... and we all must be diligent and prepared.

This weekend reminded me of this very real danger. This weekend reminded to post the important contact information for credit bureaus above. This weekend reminded me to have a talk regarding these issues with my own mother once again. I hope that this post serves as a catalyst for you to have a talk with your loved ones as well ... sooner than later.

www.genemundt.com

gene@chicagobancorp.com

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Senior Issues/Reverse Mortgages

It's Going to be HOT in Chicago and Chicagoland this Holiday Weekend! Protect Yourself During 100 Degree Heat and Sun ...

DuPage County (IL) Senior Citizens Real Estate Tax Deferral Program. Information and Applications Now Available

Real Help Does Exist for Area Residents. Attend the Community Provider Resource Fair Held on Tuesday, January 18th in Romeoville, IL

SCAMS ... Don't Be a Tomato Ripe for the Picking