Joliet, IL Real Estate News

By William Piotrowski
(Diamond Residential Mortgage Corporation )
How wonderful is it to be able to start the week off with these incredible smiles??? These smiles after the disappointment of being told by a major lender that they could never be homeowners. This is the "why" in what we do! Dan Potilechio (Keller Williams Infinity) helped them find the perfect house for their growing family. Loan originator William Piotrowski and his team helped to find them the perfect mortgage product and walked with them, step by step, from the start...ing to the finish line, AGAIN, in under 3 weeks! What sweetened the deal for us with this couple was that we were able to give back to a Veteran who fought to protect the freedom we enjoy every day. Brandon and Samantha, thank you for trusting us to help get you and your family into the home of your dreams. We wish y...
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By William Piotrowski
(Diamond Residential Mortgage Corporation )
 We are rounding out our week with another happy first time homebuyer who reminded us why we do what we do.The excitement and appreciation from Noe for helping make his dream of owning a home for his family come true absolutely made our week. With the help of realtor Giovanna Salazar Schmieder (Keller Williams Realty Infinity) and myself, Noe and his family are moving into the home of their dreams. Congratulations, Noe! We wish you and your family many years of happiness and health in your new home! Let me make you our next homeowner! Stop in to see me in the heart of downtown Naperville at 130 W Jefferson, Suite 208 or give me a call at 
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
The UnSung Advantages of theNew Mortgage Process “Fear not the unknown. It is a sea of possibilities.” ― Tom AlthouseInaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy.  -  Dale Carnegie“How can you know what you're capable of if you don't embrace the unknown?”― Esmeralda Santiago, ConquistadoraNever be afraid to try something new. Remember, amateurs built the ark, professionals built the Titanic. -  Unknown“The big, bad unknown is only that until it is known. Then you look back and wonder what all the fuss and worry was about.” ― S.A. Tawks, The Spirit of PessimismI’m sure you see a pattern in the quotes above.  They all address the topic of fear …Fear.  Whether I’m talking on the ph...
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
Common Sense Credit AdviceWhile Buying and Financing a Home         It would seem to be common sense, right?      If you're in the process of applying for a Mortgage and heading towards your Mortgage Closing ... you shouldn't do anything that would upset the fragile balance of your credit or the Mortgage Approval received from your Mortgage Lender.        Yet it happens ...      I provide the advice spoken of above multiple times throughout their mortgage processing to all my clients.  I tell them ...        Stop!  Think!  Don't buy anything on current credit accounts/cards   Don't apply for new credit (no matter how tempting or how good a deal it sounds)  Don't move funds or monies from account to account         In short?  Don't make a move financially unless you talk to me first!    ...
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
Applying for a Mortgage Soon? Don't Dispute that Account       Sounds counterintuitive, I'm sure ...      But until you've talked to me (or your own local Mortgage Originator), don't even think about disputing an account found on your Credit Report.      Why?  Unknowingly, you can be creating real problems for your Mortgage Application and Approval.       Consider this:  A creditor can refuse to change their disputed rating.  Too many disputed accounts on a Credit Report may result in your loan being denied.       Is that a really a risk you want to run at such an important time?      A formal dispute placed on a car loan, student loan, credit card, collection ... or even worse, a mortgage loan ... can cause havoc for your new Mortgage Application.  So ...      Slow down.  Contact me .....
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
 Account Activities Matter When Applying for your Chicagoland Mortgage        Almost all Mortgage Lenders require that Loan Applicants submit each and every page of their Bank Statement, Investment Account, and Retirement Fund (showing source of Down Payment), not just a first page.       And note:  That's even if a page in the statement's sequence is only numbered and blank (something that trips-up many Applicants).        Why?        There are several reasons ... but the following are the issues that most commonly trigger Lenders' requests for full statement/documentation:   "Large" deposits from Income/Payroll Transfers, as well as deposits made frequently from other accounts, cash, etc.  (Tip: Avoid making cash deposits into accounts at all costs!) Having to identify sources of depo...
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
Overwhelmed or In Charge During Your Mortgage Process?  YOU Decide          Today's mortgage process can seem a bit overwhelming to some Borrowers ...        And that's true whether those Borrowers are First-Time Home Buyers or those that have bought a home a dozen times.      In comparison with financing conducted during the mid-2000's, today's mortgage process has become a more demanding process for Borrowers with regards to:   Documentation needed Verifications requested  Time and Attention demanded       So there are some reasons for this to occur ...        With that in mind then, is there anything Borrowers can do to protect themselves from becoming overwhelmed during the processing of their mortgage?      I've found that the two following issues seem to be the issues that trip-up...
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
Keep Those Mortgage Questions Coming!       Maybe because of the timing of the release of Fannie Mae's new mortgage program ... that being December 21st during the week leading up to the 2015 Christmas Holiday ... the fanfare and media hoopla that typically surrounds the release of a new mortgage option for First-Time Home Buyers was somewhat drowned out.  Many people's attention, both public and professional, was simply directed elsewhere to a large degree on that day.       So given that timing, I was particularly happy to receive the large number of questions and the feedback I did to my recent post regarding the "HomeReady" program entitled, "Lending Guidelines More Favorable for Borrowers".  Seeing those questions roll in told me that there is still a need for ... and excitement su...
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
Check That Holiday Gift List Again ...       Are YOU on it anywhere??    What I mean is ... often we can get so busy doing all the right things for others during the Holidays, that we overlook ourselves.      Just think all you've had to do and accomplish this Holiday Season.  You've definitely proven that you have the skills to plan, budget, coordinate, organize, and deliver the goods.  Your list of accomplishments is really quite amazing.      But ... check through all the important people and "to do's" on your Holidays list.  Did you find yourself and your needs anywhere? Hmmmmm ....      If you're a Renter:  Perhaps you've been tossing around the idea of buying in the coming year.  The feasibility of it.  Wondering what options you might have.       Or if you presently own a home:  ...
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By William Piotrowski
(Diamond Residential Mortgage Corporation )
  These make my day12/13/2015 -  user5428908 Closed refinance loan. Joliet, IL 60431William was a huge help. Anything I didn't understand via email, he was immediately calling to explain it over the phone or offer to come by our home or invite us to his office. Definitely will be using his services again.
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
The Unicorn of Real Estate Transactions:The "Perfect" Appraisal      Did you know that ...      According to a survey performed by the National Association of Realtors (NAR), 1 out of 5 Real Estate Contracts (20%) are delayed prior to Closing as a result of disagreements and problems within the Appraisal Report.      Even with all the info and data available to Appraisers ... as well as Underwriters, Lenders, and Regulatory Organizations ... this fact remains:        Performing the perfect Appraisal remains an unattainable goal.  The perfect Appraisal simply doesn't exist.      It's like the mythical unicorn ...      Why?      Despite all the automation and software programs available and in use, Appraisals are still conducted and written by humans.  Humans … working within an industry ...
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
Are You a Mortgage Borrower? Flex Your Muscles!      It's fairly common to see and hear advice provided about the importance of comparing Mortgage Lenders when looking to finance a home purchase or refinance.  Advice is also commonly given to conduct comparison shopping when it comes to Interest Rates too.            But it's important for Borrowers to know:  They can "shop" other Fees charged within the financing of their home loan as well ...      Here in Illinois:  The newly introduced "Loan Estimate” document clearly illustrates which Services/Fees applicants can and cannot shop for when financing a home.  Mortgage Lenders are obligated to provide this information to their Borrowers.      So which Services fall under each category?      Services that CAN be shopped: Settlement Fee L...
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By William Piotrowski
(Diamond Residential Mortgage Corporation )
   These make my day:10/27/2015 - user18828693Closed purchase loan. Crystal Lawns, Joliet, IL 60435 With his helpfulness, follow through, and knowledge of the house industry, we were able to close our house fast. William treated us like family, which was a nice feeling to have when you are going through such a big purchases. When we had a question he responded quickly. I would recommend William to anyone who is looking for someone who is friendly, knowledgeable, and ready to close on a house with ease.
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By William Piotrowski
(Diamond Residential Mortgage Corporation )
These make my day: 10/26/2015 - bhawks52 Closed refinance loan. Joliet, IL In all honesty, William was great to work with. We started my loan back in February but hit some bumps in the road on my end which prevented me from obtaining the loan at that time. However, he kept in touch with me often, walked me through some options to find the right loan for me. He has been very patient with me and his personality comes across like you have known him for years. I would recommend William to friends and family.
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By William Piotrowski
(Diamond Residential Mortgage Corporation )
#‎HomeOwners ‪#‎HappyMonday ‪#‎WhatAGreatWayToStartTheWeek ‪#‎HomeOwnership Nothing but smiles from Cheryl on her home refinance. Let me find the perfect mortgage for your buying or refinancing needs! Stop in to see me in the heart of downtown Naperville at 130 West Jefferson, Suite 208!
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
 Keeping Your Current Home While Buying Another:  New Guidelines Apply        In recent weeks, there has been some very good news in home financing for homeowners that choose to retain their primary home (or can't sell because they're underwater) while pursuing the purchase and financing of a new home ...      Underwriting Guidelines that play a predominant role in the financing of these types of purchases have now been relaxed.  New Guidelines now allow a more manageable level of funds (less than before) be required to buy and close on these new homes.      The housing decline that took place between 2008 to recent times resulted in a tightning of lending standards.  However, Market Values have now recovered and rebounded in many, if not most, of the country.        Recognizing this, p...
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
It's Not About "Having" Time.  It's About Making Time  Quote above by:  Rachael Bermingham            Mortgage Lenders often catch a lot of grief (and bad press) for Closings that don't take place on time ...      As a Mortgage Lender, I think some times that's a bad rap. But I can't speak to others' actions or the level of service they provide.        I can only address my own professional actions and experiences, my own service level, my own transactions, and what I see take place within them.        And what I'm seeing more and more often is a very slow and lackadaisical response time in regards to my requests for information and documentation.  People just aren't making their response a priority.  This happened again recently.      An email I received within my inbox contained no w...
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
What Do Band-aids and the Modern    Mortgage Process Have in Common?            Remember when you were a kid and you got a cut or scrape?  Your mom would wash it up, then place a band-aid on it, right?     Days later, after the cut healed, the band-aid would have to come off.  I can tell you, just the thought of ripping that band-aid off makes me shudder all these years later.       Yeeowwww!     Now I'm sure your mom told you much the same thing as mine did when that band-aid had to come off.      "If I do it fast, it will hurt less".  Of course, she was right.     But my band-aid memory serves as somewhat of an analogy (and lesson) for the modern Mortgage Process ...      How's that?     As your Mortgage Lender:  I can't promise that issues won't ever crop-up during your home buying o...
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
  Veterans:  Basic Info to Know About VA Loans                 The interest and use of VA Loans by veterans when purchasing a home is growing.     That's a great thing ...      However, there are still many veterans that could be utilizing their VA Loan benefit, but are not.  The VA estimates that 1 in 3 veterans are unaware of their VA Loan benefit.       In my own experience as a Mortgage Lender, I often find that to be true. Either the veteran does know of the benefit, or there's some misunderstanding about how they may use and benefit from it.      All sorts of myths and misconceptions abound regarding VA Loans.  Neither should keep a military veteran or their family from owning and enjoying their own home ... or realizing the savings due them via VA financing.     To help veterans ...
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
Before You Represent a Client on a Condo or Townhome Property ...        Agents:  Do you know what the correct answer is for this question?     What is the difference between a Condo and a Townhome?     A simple answer would be:     The #1 defining difference between the two types of properties is:  OWNERSHIP RIGHTS.       It's not about style.  Or about design.  It's not about appearance or physical characteristic comparisons either.     Now I know what you're thinking.  Gene ... really?  Another post on condos and townhomes???  But to my defense, I've had a number of recent calls from agents that clearly showcase the need to address this topic.  And I think the topic to be that important.      Plus, if you've been in the Real Estate or Lending Industry very long, you know nothing is a...
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