Area Residents Are Thankful They May Be Able To Buy vs. Rent A Home In 2013

The Veteran and 1st Time Home Buyer seminar at the American Legion in Wauconda on November 13 was a big success. Residents found the seminar “very informative”. Speakers included Jim Kaiser of Nakon and Associates, Joe Amato of 5/3 Bank, Liz Larson of Prospect Mortgage, Jennifer Mahoney of Fidelity Title, Ken Scott;CPA, and Scott Bush from IHDA. Sean Ryan capped the seminar by explaining the home buying process including how to buy a Homepath or HUD home.

Jill Ryan felt the event was a benefit to explain the advantages and affordability of purchasing a home today. People had the opportunity to hear about the new FHA guidelines, Grant Programs, and advantages of buying bank foreclosure. Rates are still very low and inventories are still high making it a wise decision to move from renting to owning a home.

Scott Bush with IHDA wowed the audience with information on Grants for 1st time home buyers and veterans. Veterans can receive up to $10,000 to buy a home and this amount is forgiven if that buyer stays in their home 2 years or more. The State of Illinois has millions of dollars to help assist first time home buyers and veterans. Attendees were also offered a free credit report and pre-approval for a mortgage by 2 different lenders during the seminar.

There was plenty of time for questions and answers. The event was well attended and well received. The Ryan Team will be offering a similar seminar in January of 2013 and will include Short Sale information and new guidelines.