Team Hochberg Blog
72% of Buyers Who Failed to Find a Home in 2022 Will Resume Their Searches in 2023. Should You?
This was the headline of a recent article published on 11/25/22 by Maurie Backman and I would like to share some of the highlights of his article. This year’s housing market has been tough for buyers. If you dropped out of the market this year, you may be thinking about picking back up next year.…
Read MorePros and Cons of using 401K funds for a down payment
One of the largest barriers to purchasing a home is the down payment and funds to cover closing costs and prepaid interest, insurance and taxes. If you work for a company that offers a 401K that could be a viable option for borrowers to consider when purchasing a home, but there are pros and cons…
Read MoreBuying a home with debt and a large down payment vs. Buying a home with no debt and less of a down payment.
Below are the reasons it is always better to use your savings to payoff your debt and put less money down than it is to purchase a home with debt and having a large down payment. Paying off your credit cards will increase your credit scores and enable a borrower to secure a lower rate…
Read MoreDoes The Real Estate Market Stop During The Holidays Season?
One of the biggest myths regarding real estate is nothing happens between Thanksgiving and the Super Bowl, which is nonsense. Realtor Lauren Dayton of Jameson Sotheby, real estate attorney David Schlueter and I had a great conversation regarding this topic on my show, Home Sweet Home Chicago which I think you will find interesting. Please…
Read MoreCredit Enhancement and Protection Tips This Holiday Season
Credit card and identity theft increases during the holiday season, because more consumers are out shopping. I had Gary Novel, the foremost credit expert who has helped thousands of radio listeners and our borrowers enhance and protect their credit, on my show to discuss these topics. The tips Gary provides during the interview apply to…
Read MoreFire and Carbon Monoxide Safety this holiday/winter season
Temperatures have been dropping the past thirty days, which means most of our borrowers who live in Chicago and other cold weather states will be firing up their fire places. It also means that snow and ice storms might knock out power and that people will be using generators to heat their homes. I recently…
Read MorePros and Cons of Reverse Mortgage Loans
For those who have followed me over the years or have heard me on the radio you know that I LOVE reverse mortgage loans, but there is so much negative baggage attached to this amazing loan program. These are the top six reasons I LOVE reverse mortgage loans; Enables experienced homeowners to pay off their…
Read MoreGreat NEWS for first-time homebuyers.
Attention all first-time homebuyers, which is anyone who has not owned a home within the past three years, I know that doesn’t make any sense but I don’t make the rules. If you are a first-time homebuyers at or below 100 percent of area median income (AMI) and below 120 percent of AMI in high-cost…
Read MoreReverse Mortgage Originators See Opportunity with Single Female Borrowers
By: Maggie Callahan The real estate market is seeing more activity from older, single – especially divorced – women, and the reverse mortgage industry is no different. Not only is the number of baby boomer marriages ending in divorce growing faster than other groups, but widows continue to outnumber widowers. Howard Frankel, senior reverse mortgage loan officer…
Read MoreReverse Mortgages Help Curb Retirement Risk for Divorced Women
by Alex Spanko Reverse mortgages have been increasingly pitched as a way to stave off the effects of so-called “gray divorce,” and a new research brief shows just how a split can put both parties’ retirement futures at risk — and how home equity benefits one demographic in particular. Households in which at least one…
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