Reverse Mortgages
What is a Reverse Mortgage?
Please contact me for more in depth information about reverse mortgages and real estate. There is help in these times of uncertainty, please contact me with any questions and/or assistance. If I do not know the answer I will get it for you. I will never mislead or misinform you. I am here to help.
About the author:
Cheryl Bowers is a Chicagoland Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Plainfield, Naperville, Aurora Illinois or any place in the country. Cheryl has created a team of professionals throughout the Chicago suburbs to ensure that you enjoy a smooth transition to your new area. Please visit www.cherylbowers.com for your real estate needs. Please give me a call if you have questions about the Plainfield, Naperville, and Aurora real estate market.
Cheryl Bowers, REALTOR® (630) 712-1921
(Copyright © 2008 By Cheryl Bowers, Realtor. All Rights Reserved.)
Foreclosure Relief
Approximately 400,000 struggling homeowners could avoid foreclosure with a new FHA program, Hope for Homeowners. The program began October 1 of this year and ends September 30, 2011.
FHA will help homeowners with subprime loans refinance to an FHA insured 30 year fixed rate mortgage.
What's the catch.......
Homeowners must agree to share the future equity of the home with FHA when the home is sold or refinanced. After five years, the equity split is 50 percent.
There is help in these times of uncertainty, please contact me with any questions and/or assistance. If I do not know the answer I will get it for you. I will never mislead or misinform you. I am here to help.
About the author:
Cheryl Bowers is a Chicagoland Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Plainfield, Naperville, Aurora Illinois or any place in the country. Cheryl has created a team of professionals throughout the Chicago suburbs to ensure that you enjoy a smooth transition to your new area. Please visit www.cherylbowers.com for your real estate needs. Please give me a call if you have questions about the Plainfield, Naperville, and Aurora real estate market.
Cheryl Bowers, REALTOR® (630) 712-1921
(Copyright © 2008 By Cheryl Bowers, Realtor. All Rights Reserved.)
Open House at Chase Bank
Saturday, November 15 from 10am-Noon
Only at Chase branch located at 3419 Orchard Road in Oswego
I will be hosting an open house at Chase bank to answer any questions you may have about the market on Saturday the 15th. Please stop on by to meet me and get any real estate related issues addressed. There will, also, be a mortgage consultant available to assist in any mortgage related questions that you may have.
Stop on by to find out:
I look forward to seeing you there!!
About the author:
Cheryl Bowers is a Chicagoland Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Plainfield, Naperville, Aurora Illinois or any place in the country. Cheryl has created a team of professionals throughout the Chicago suburbs to ensure that you enjoy a smooth transition to your new area. Please visit www.cherylbowers.com for your real estate needs. Please give me a call if you have questions about the Plainfield, Naperville, and Aurora real estate market.
Cheryl Bowers, REALTOR® (630) 712-1921
(Copyright © 2008 By Cheryl Bowers, Realtor. All Rights Reserved.)
Rental Homes
Did you know that I can assist you in finding a rental home? It's true! Let me be your guide in finding your next rental property. Whether it's a condo, townhome, or single family residence I can help.
Also, did you know that the landord takes care of my fee. It's true! What have you got to lose?
Contact me today.
About the author:
Cheryl Bowers is a Chicagoland Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Plainfield, Naperville, Aurora Illinois or any place in the country. Cheryl has created a team of professionals throughout the Chicago suburbs to ensure that you enjoy a smooth transition to your new area. Please visit www.cherylbowers.com for your real estate needs. Please give me a call if you have questions about the Plainfield, Naperville, and Aurora real estate market.
Cheryl Bowers, REALTOR® (630) 712-1921
(Copyright © 2008 By Cheryl Bowers, Realtor. All Rights Reserved.)
Fannie, Freddie Takeover Keeps Mortgages Flowing
The federal government's sweeping takeover of mortgage market giants Fannie Mae and Freddie Mac is expected to have positive short-term benefits to the real estate market and opens the door for the industry to shape the restructuring of the companies.
The NATIONAL ASSOCIATION OF REALTORS® commended the Treasury Department's decision, which it said will bring much-needed stability and continued liquidity to the nation's mortgage market.
"This demonstrates that the government is clearly committed to keeping the flow of capital uninterrupted, which is crucial to the housing sector and the economy," NAR President Richard F. Gaylord said in a statement Monday.
Fannie and Freddie own or guarantee almost half of the country's $12 trillion in outstanding home mortgage debt.
"Fannie Mae and Freddie Mac play a vital role in the U.S. economy by making fair and affordable mortgage loans available for home buyers and owners," Gaylord said. "Their critical mission must not be interrupted, and Sunday's announcement goes a long way in making sure that does not happen."
What the Plan Involves
Under the Treasury Department's action, the two government-sponsored enterprises are placed in a government conservatorship and overseen by two government-appointed chiefs, former Merrill Lynch vice chairman Herbert Allison at Fannie Mae and former U.S. Bancorp CFO David Moffett at Freddie Mac.
Daniel Mudd, who led Fannie Mae for the last few years, and Richard Syron, his counterpart at Freddie Mac, have been relieved of their jobs.
The federal government is taking up to an 80 percent stake in the companies and will review their financial condition on a quarterly basis, injecting money into their operations as needed. The government is directing the companies to help stabilize housing markets by requiring them to increase their mortgage funding over the next year and a half.
For the long-term, the companies and their regulator, the Federal Housing Finance Agency, will begin planning for a major reorganization of their operations, away from their current 100-percent, privately owned model.
According to news reports, one of the models being discussed is something akin to a public utility, in which the government sets limits on the amount of annual return on equity to shareholders.
Positive Real Estate Impact
For the real estate industry, the short term impact is expected to be positive, says NAR Chief Economist Lawrence Yun. With the government now explicitly backing the companies' mortgage obligations, the market for the GSE securities will be treated more like Treasurys, thereby exerting downward pressure on rates, he says.
That will help drive a positive cycle of investment as investors return to the market, further lowering rates and generating funds to lenders to expand their mortgage loan operations. That is expected to help speed up housing sales in markets across the country and help stabilize home prices.
The main down side to the federal intervention will be felt by the companies' current shareholders, who will no longer receive dividend payments and whose holdings are diluted by the equity stake of the federal government.
Looking ahead, the directive for the companies and their regulator to start work on their long-term restructuring opens the door for NAR to help shape that process, and the association already has a process underway to do that, say NAR legislative and regulatory affairs analysts.
- REALTOR® Magazine Online
Cheryl is an innovative realtor for todays innovative real estate market. Visit me at http://www.CherylBowers.com or Call Now 630-712-1921
Cheryl grew up in Naperville, Illinois. Her parents lived in Ashbury subdivision located in South Naperville and she attended Waubonsie Valley High School. Cheryl met her husband while working at her first job, McDonald's. (The one off Weber and Boughton in Bolingbrook.) She and her husband rented an apartment in Naperville for about a year before buying their first home in North Plainfield. Cheryl and her husband, Bruce welcomed their first child in the winter of 2007.
Cheryl truly enjoys being a realtor. She believes:
"WHEN YOU DO WHAT YOU LOVE...
...PEOPLE LOVE WHAT YOU DO"
Cheryl Bowers is a real estate professional who brings buyers and sellers together to achieve their ultimate dreams. A few areas she excels in are:
Whatever your real estate need, you will be happy Cheryl assisted.
Patricia C. - Aurora, Illinois In April of this year I had the opportunity to receive a promotion at work which would take me to the ChicagoLand area. Having never been to the area I was as you can imagine a bit nervous and anxious about finding a place to live. Prior to coming for my house hunting trip I had been on the internet looking at homes with my children when we saw a few we liked in the Aurora area. We sent severeal emails to different realtors listed and Cheryl was the first and I might add only one to contact us very quickly. She asked us very specific questions spending quality time over the phone with us about what we needed and said she would be ready to meet us when we arrived. When we arrive from Florida Cheryl had prepared a wonderful packet which she had left for me at the hotel detailing information about the area including medium income, school district info, things to do, articles from publications about the area etc. The next day we met Cheryl and she spent all day with us taking us to visit homes which would fill our needs. Every single home was exactly what I had been looking for and after just one day of looking we were able to identify a home we would want to purchase. Cheryl very quickly took care of our contract, put me in contact with someone locally who could be of assistance for the morgage loan, and stayed in constant communication with me on where we were with the process. All of this was done via e-mail, phone and fax as I was in Florida which was extremely kind and thoughtful. I was able to purchase the home I wanted and am happy to say I am enjoying the area immensely. Cheryl not only assisted with the process but has kept communication also offering help and sharing information about the local market. Her professional attitude, local knowledge and communication skills were outstanding and I would recommend her to anyone and or of course use her myself some day if needed. Hope you enjoy her services as much as I did. Jamie and Michelle N. - Aurora, Illinois We just wanted to thank you for your help in selling our home. You were recommended to us by a friend and we were amazed by the results you produced. We called you in the middle of winter, told you we needed to sell our home, and that we wanted it done as quickly as possible. 30 days was the goal. You did it and exceeded all of our expectations!! You were professional, organized, knowledeable, and fun. You always answered our phone calls and made a very stressful time in our life a breeze. You gave us weekly recaps, provided us with prospective buyer comments, and helped us remain patient. At our initial meeting you actually talked us into increasing our listing price. In retrospect, the decision saved us an additional $5,000. Thanks again for everything, Cheryl. You are more than just a realtor to us, you're a friend. If we ever move back to Chicago, you will be our first phone call. Joyce M. - Rockford, Illinois
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