Ed Conarchy

Refinance Help for Underwater Homeowners

Ed Conarchy — Thu, 08 Mar 2012 15:29:17 +0000

Here is the latest news for underwater homeowners wanting to refinance and take advantage of the current low mortgage rates.

You can determine whether your mortgage is owned by either Freddie Mac or Fannie Mae by checking the following websites:
www.freddiemac.com/mymortgage or www.fanniemae.com/loanlookup/

500 New Reasons NOT To Prepay Your Mortgage

Ed Conarchy — Sat, 12 Nov 2011 04:52:50 +0000

500 reasons why you shouldn’t prepay your mortgage in 2012.
Plus, do you know how to turn 70 cents into a dollar?

Get your mortgage and 401k reviewed for free. Just contact me!
Call me at 847-970-4239 or email me at econarchy

President Obama’s Refinance Plan for Underwater Homeowners

Ed Conarchy — Sun, 06 Nov 2011 02:46:25 +0000

Changes to HARP Program Announced

(No Video for this one. Just some basic information on HARP 2.0 refinance program. Look for a video from me when we know more details on HARP 2.0.)

You may have heard Monday that President Obama presented a plan to open up refinancing to more homeowners who are underwater. I have received several calls asking about the proposed changes and wanted to reach out to everyone to explain what is happening.

First, it’s important to realize that the President’s proposal is not a new program, but a revision to the current Home Affordable Refinance Program (HARP). However there is one big change: Now homeowners can refinance no matter how underwater they are! Before homeowners could only refinance if they were 25% or less underwater, and even then many banks only let people who were 5% or less underwater refinance.

Also, with this revision it’s possible that an appraisal won’t have to be performed, which is great news, as it will save time and money. But this is only the case if Fannie Mae or Freddie Mac can electronically estimate the value through their valuation models.

Keep in mind that these updates to HARP apply only to people whose mortgage is currently secured by Fannie Mae or Freddie Mac on or before May 31, 2009. So if you have refinanced or bought a home since May 2009 you unfortunately will not qualify to refinance under the HARP revision.

Also, if you have a second mortgage or pay mortgage insurance currently, that too could effect if you qualify for the HARP refinance program.

As of now, the revisions to HARP have been proposed by President Obama and the Federal Housing Finance Agency (FHFA), which regulates Fannie Mae and Freddie Mac. This directive has been given to Fannie Mae and Freddie Mac and they now have until November 15, 2011 to give guidance and details regarding how these changes will be run.

To see if your loan is secured by Fannie Mae or Freddie Mac and if you would qualify for the current HARP program or the revised HARP program, please contact me. I’m always very happy to help.

Refinancing? Beware of These Two Traps

Ed Conarchy — Thu, 06 Oct 2011 22:15:10 +0000

Everyone should be having a mortgage professional review their mortgage to see if they can refinance and take advantage of these low mortgage rates. But beware! Don’t fall into these two traps that banks are setting. Watch and learn what they are and how to avoid them.

Need your mortgage reviewed? I will do it for free. Call me at 847-970-4239 or email me at econarchy

Understanding Your Property Tax Assessment

Ed Conarchy — Mon, 19 Sep 2011 04:01:09 +0000

IMPORTANT: The information contained in this video is time sensitive and should be viewed right away.

I just got back from attending a Property Tax Information Meeting put on by Lake County. It was a very informative meeting that explained how property tax assessments are generated. I picked up many valuable nuggets on how to read and understand property tax assessments. Tips that will help you review your property tax assessment to discover potential errors, that could save you money if corrected. So watch my video blog and learn these tips today.

NOTE: I personally found two major errors on our property tax assessment after attending this meeting.

IMPORTANT LINKS

Lake County Assessor’s Home Page: http://www.lakecountyil.gov/assessor/Pages/Default.aspx

Lake County Assessor’s Comparable Search Tool: http://www.lakecountyil.gov/Assessor/AssessmentInformation/PropertyTaxAssessmentInfo/Pages/Default.aspx

2011 Assessment Appeal Filing Deadlines: http://www.lakecountyil.gov/Assessor/BoardofReview/Pages/AppealFilingDeadline.aspx

2010 Predominant Tax Rates: http://www.lakecountyil.gov/CountyClerk/TaxAndRealEstate/Documents/2010/2010-PredominantRates.pdf

Special Alert: Stock Market Drop Means a Drop in Rates

Ed Conarchy — Tue, 16 Aug 2011 22:47:25 +0000

Great Window of Opportunity

You may have heard last week that the stock market experienced some big drops. But you may not have heard that mortgage rates have fallen dramatically as a result. Mortgage rates are now back to the lows we saw in Fall 2010, which are lows not seen in over 40 years!

While some people say good things come to those who wait, others say to strike while the iron is hot. In this case, the “iron is hot” with rates at historically low levels.

It will only take a minute – give me a quick call so we can look at your situation. It doesn’t cost anything to check it out and the choice of moving forward will be up to you. Don’t miss this window of opportunity to save significantly on your monthly budget.

I look forward to hearing from you!

Two Tips to Lower Your Mortgage Payment Today

Ed Conarchy — Fri, 22 Jul 2011 18:57:28 +0000

This is a must see video if you currently have a mortgage. I share two tips to lower your mortgage payment today. As always, if you have a question specific to your personal situation, please reach out to me. I will be very happy to do a complimentary review of your mortgage and advise you accordingly!

Don’t Make This Mistake

Ed Conarchy — Wed, 13 Jul 2011 19:51:44 +0000

We are now at the intersection of historically low mortgage rates and home values. The National Association of Realtors Housing Affordability Index has never been this high. Therefore many people are out there taking advantage of this and buying homes. But before you run out and buy, make sure you watch this video.

Are You Missing Out On Free Money?

Ed Conarchy — Fri, 01 Jul 2011 18:36:59 +0000

Amazingly 39% of you are. Shockingly 94% of you are also guilty of another big money mistake. Tune in to get all the answers. Plus I share the secret to having 30% more money saved for retirement.

Save First For… Retirement or Child’s College?

Ed Conarchy — Fri, 01 Jul 2011 18:18:34 +0000

Watch to find out the proper answer that too many people answer emotionally and not financially. Finally make sure you watch to see the big news I uncovered with College Financial Aid applications. It’s terribly ironic and it will no doubt surprise you!