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Jennifer Ames' Blog

By Jennifer Ames | Broker in 60614
  • How to Keep Your Credit Score Strong

    Posted Under: Financing  |  June 27, 2009 10:55 AM  |  302 views  |  No comments

    Credit scores (of which FICO scores are a subset) have always been important because banks and financial institutions use them to determine individuals’ credit worthiness. However, with lending institutions raising their standards in light of the past credit crisis, your score is more important than ever.

    Overall, this tightening of the purse strings is a good development for the industry, but it also means some individuals may be unfairly punished for otherwise responsible behavior. While borrowers who are late or miss payments take a justifiable hit to their credit scores, those who always pay on time may still have their scores dinged.

    Read more at www.liveandplayinchicago.com...

  • Buying A Chicago Home? Use Your Tax Credit as a Down Payment

    Posted Under: Financing  |  June 27, 2009 10:51 AM  |  287 views  |  No comments
    The Department of Housing and Urban Development announced recently that lenders will now be permitted to allow homebuyers to use their federal tax credit as a down payment on their purchase. Previously, the tax credit could only be received after buyers had filed their tax returns.

    Read more at www.liveandplayinchicago.com...
  • Do You Qualify for Loan Modification or Home Refinancing?

    Posted Under: Financing in Chicago  |  May 4, 2009 6:40 AM  |  367 views  |  No comments

    Affordable housing has long been the dream of American families and policymakers alike. Now both are seeing their wish fulfilled, though not in the way either envisioned: the housing correction. This drop in home prices will be remembered as a blessing for first-time homebuyers, but this comes as no comfort to those who are already locked in to a mortgage and struggling to make payments.

    If you are having difficulty paying your mortgage, you may be eligible for relief through the new federal Making Home Affordable (MHA) program. This service can aid qualified homeowners by either helping them refinance to a new loan or by modifying their existing loan.

    Read more at www.liveandplayinchicago.com...

  • An Attorney's Guide to Short Sales

    Posted Under: Financing in Chicago  |  October 30, 2008 11:49 AM  |  335 views  |  No comments

    In this new real estate economy, "short sales" are grabbingheadlines, but what exactly is a short sale and what are the conditionsthat must be met to make one? Chicago real estate attorney Peter Marxexplains it all.

    Read more at www.liveandplayinchicago.com...

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