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Recently FreddieMac and FannieMae have released the guidelines on how to determine self-employed income now that most Stay-at-Home Orders have been lifted, or at least life is beginning to return to "normal".  How do the new guidelines affect those that are self-employed, but have had their income affected during Covid-19? Cigar Lounge Review:  David's Fine Tobaccos, 9759 University Ave, Clive IA 50325 (515-278-8701) --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

As part of the stimulus package to deal with Covid-19, the CARES Act was passed, which in part, allows for mortgage forbearance.  The media has not really properly addressed what this means to a homeowner.  So this episode of the podcast helps provide you a better understanding of what it means to use mortgage forbearance.  More information can be found at https://www.consumerfinance.gov/coronavirus/cares-act-mortgage-forbearance-what-you-need-know/.  This week cigar lounge review:  Rudy's Cigars 6240 E Riverside, Loves Park IL 61111  --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

In this episode of the podcast, we talk a little about what you need to ask before considering using the forbearance option on  your mortgage loan; the benefit of considering purchasing a home in this market; and, the need for all of us to be a bit more neighborly. Cigar Lounge Review:  Your Mortgage Guys Virtual Cigar Lounge --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

It has now been a few weeks that the Stay-at-Home Order has been placed in Illinois.  Across the country American's are either in an essential field, working from home, or unfortunately have been temporarily laid off.  This episode of our podcast addresses how there have been some temporary guidelines created for income verification and also addresses some questions on mortgage forbearance. Cigar Lounge Review:  Kenny the King Tobacco, 28975 IL Rte 120, Lakemoor, IL If you are interested in attending the FREE webinar "Learn about Credit w/Jim Droske" You can register on Facebook at Real Estate Professionals Smoking Cigars or click this link:  https://crosscountrymortgage.zoom.us/webinar/register/7215859247654/WN_YXLo1ZwvQkSi1KmcNtbcgg --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

As Covid-19 continues to cause most Americans to stay at home, our economy and the real estate/mortgage industry continues to adjust.  Exactly what the long-term effects will be are yet to be seen.  In addition, in an attempt to help those cigar smokers looking for camaraderie, a virtual cigar lounge has been created so we can practice social distancing while enjoying a good cigar. Cigar Lounge Review:  SoHo Cigar Bar, 32 Watts St, New York, NY

The recording date of this episode of the podcast is March 12, 2020.  It would appear, at this time, we have just begun a world-wide pandemic and the media, the markets and governments are trying to get ahead of the curve on its affect.  So if you are a homebuyer, or if you own a home and thinking about refinancing, or of course if you are a real estate professional, how does all this affect you and mortgage rates? Cigar Lounge Review:  Jack's Smoke Shop, 10129 N Second St, Machesney Park, IL  If you are interested in attending an "after hours" cigar event, either in the Rockford, IL or Schaumburg, IL areas, leave us a comment on Facebook expressing your interest. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

There has been a lot of press about the upcoming changes to your FICO score.  Potential homeowners are wondering if their score will go up?  Will their score go down?  On this episode we have Darlene Aragon of Credit Plus, Inc.  She is a life-long credit report professional who shares her knowledge about the upcoming changes to FICO (FICO 10) and how this will affect a potential homebuyers ability to purchase a home. Cigar Lounge Review:  Nice Ash, 323 W Main Street, Waukesha WI  --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

This week's podcast is a review of the book "The 12 Week Year" by Brian P Moran and Michael Lennington.  Although book reviews is not the general format of the podcast, being that we are in the beginning of the year when we do make our goals and the fact that the book has a powerful way of re-aligning our thinking of our visions, expectations and goals, I decided to try a book review this episode and certainly look forward to any listener comments. Cigar Lounge Reviewed:  Papa Cigar Shop & Lounge, 328 Greenbay Road, Highwood, IL 60040 (847-266-9999.   The sound effect of "ta da" was created by Mike Koenig. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

Whether Baby Boomer, Gen X, Millennials or the up-and-coming Gen Z ("Zoomers") every generation has different traits when it comes to financial decisions and home buying.  In this episode we discuss the differences in the generations and how down payment assistance programs can be a big part of the home buying process. Cigar Lounge Review:  Davidoff of Geneva Cigar Bar, 3200 S Las Vegas Blvd #1245, Las Vegas NV The Zytglogge is the clock tower in Bern, Switzerland.  For more information about the medieval tower:  http://www.zeitglockenturm.ch/ --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

In this episode we will discuss the new 2020 lending limits for both conventional and FHA loans.  We will also address the changes to the VA program outlined by the Blue Water Navy Vietnam Act of 2019. Cigar Lounge Review:  Stanza dei Sigari, 292 Hanover St, Boston MA --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

This week we are honored to have Darlene Aragon, Regional Account Executive of Credit Plus, Inc., a national provider of credit reports.  Darlene is a veteran of the credit reporting industry and shares her insight on some basics when it comes to credit.  Over the next few weeks, we will be going more in depth into many questions consumers have about credit.  This week, however, we take a general overview approach on how to understand  your credit history. Websites mentioned in the podcast: www.MyFICO.com www.AnnualCreditReport.com Cigar Lounge Reviewed: Rudy's Cigars, 6420 E Riverside Blvd, Loves Park, IL 61111 - 815-282-0506 --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

It has been a few weeks since we last created a podcast.  Not making any excuses other than saying that the Real Estate Industry and Mortgage Lending has been keeping both of us very busy.  That said, we have committed that we will be returning with regular podcasts and figured that this topic is a great one to re-start our podcast production... In 1985, after a working a few years in banking, Jim Campanella originated his first mortgage loan application.  Rates were double-digit and Jim was working at American Security Federal Savings & Loan on 59th and California, on the south-side of Chicago.  It has been thirty-five years, but now Jim is kicking off a year of celebrating this anniversary.   Cigar Lounge Reviewed:  Habana Cigar House, Rolling Meadows IL --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

If you follow any news, you should be aware interest rates have fallen.  That happens as rates do go up and down.  The reason why this time it is making news is for one, they are incredibly low and more importantly, just a few months back (at the beginning of the year) everyone was predicting higher interest rates - not lower. While co-host Tameka Lewis-Madkins of Real People Realty recovers from her jet lag, join Jim Campanella, Sales Manager of "Your Mortgage Guys" at CrossCountry Mortgage in a discussion on whether or not it makes sense to refinance your home. Not a homeowner yet?  This episode of the podcast is well worth listening into as well since lower rates mean more affordable home purchases. Cigar Review:  Rocky Patel FIfty Five --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

While co-host Tameka Lewis Madkins of Real People Realty is on vacation this week, we will be discussing the very recent announcement by HUD that they will once again start allowing for spot condo approvals (effective October 15, 2019).   Cigar Review:  Espinosa Mercielago Toro 6x52 Special mention to:  Mike Koenig, Maximilien and Daniel Simion for the special effects. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

A little short on your down payment, but looking to purchase a home? Jim Campanella of CrossCountry Mortgage discusses the programs available. Cigar Review"  Drew Estates Liga Privada No. 9 --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

Have you found what you believe could be the perfect home, if it was just updated?  Have you heard about FHA 203k loans, but not fully sure how a renovation loan works or can help you?  Join Tameka Lewis-Madkins of Real People Realty and Jim Campanella of CrossCountry Mortgage as they have a conversation with Sandee Lutz, Regional Renovation Sales Manager of CrossCountry Mortgage. Cigar Review:  Montecristo Media Noche --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

You know your credit score affects your ability to get a mortgage, but did you know your credit profile also affects your home owners, auto and even life insurance?  Join Tameka Lewis-Madkins of Real People Realty and Jim Campanella of CrossCountry Mortgage as they have a conversation with Jason Riha of Goosehead Insurance. Cigar Review:  Cain Maduro Jason Riha can be reached at Goosehead Insurance 708-880-7040 Option 2 or jason.riha@goosehead.com. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

One of the first questions a new home buyer has is whether or not they need to hire an attorney to purchase a home.  There is a cost to having an attorney, so many ask what is the value received.  Join Tameka and Jim as they talk with attorney Harry Field about why you should use and attorney during a real estate transaction and what value the attorney brings to you, the home buyer or seller.   Cigar Review:  Micallef Grand Bold If you would like additional information, you can contact Harry Field at 312-782-9377 or hfield@hfieldlaw.com --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

While Tameka and Jim enjoy a good backyard bar-b-que this 4th of July, Jason Riha of Goosehead Insurance explains the benefits of an insurance broker, what is home owners coverage and how does your deductible come into play. This week's Cigar Review:  Dutch Masters For more information or to contact Jason Riha please reach out to him at 708-880-7040 (option 2) or email him at Jason.Riha@goosehead.com or online at  https://www.gooseheadinsurance.com/agents/jason-riha/ --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

Tameka Lewis-Madkins and Jim Campanella talk with Tim Milner of Milner Home Inspections about what is radon and how it affects you as a home owner. Cigar reviewed is the Papa Fritas (Petit Corona) For more information or to contact Tim Milner: Tim Milner, Milner Home Inspections - (815) 693-4694  - www.milnerhomeinspections.com - mhiinspections@yahoo.com --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app