Plainfield, IL

"The Short Sale Package"

Getting a short sale package together can be a chore, but if done correctly it can yield you a huge return. Every mortgage company has slightly different requirements but they typically all ask for some of the same things.

The best way to find out exactly what lenders are looking for in their "Short Sale Package" is to ask.

An authorization to release information is the first thing obtained. This allows the realtor and attorney to access the account. Once authorization is obtained, the loss mitigation department is contacted and the short sale requirements are asked for.

Typically, a package consists of the following:

- Authorization to release information

- An agreement of sale to purchase the property

- HUD 1 settlement statement estimate of closing costs

- Pay stubs

- Bank statements

- Budget sheet, including income and expenses

- Past two years tax returns

- Recent pay stubs

- Letter of financial hardship

Some mortgage companies will fax you exactly what their requirements are. Some will even include worksheets to fill in and sign. Either way, it is best to have the homeowner get these documents back as soon as possible because they may be requested later on.

Every mortgage company will have different requirements for a short sale so each package will be different. Asking the lender is the best way to find out what is needed.

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.

P.S. If you are listing your home as a short sale in DuPage, Will, Kane, or Kendall Counties in Illinois make sure you hire an agent who knows how to do short sales and has the experience to get the job done. Call me at 630-712-1921 to find out more about Short Sales in the Chicagoland Area.

Cheryl Bowers, REALTOR® (630) 712-1921

(Copyright © 2008 By Cheryl Bowers, Realtor. All Rights Reserved.)

This weekend is the Plainfield Spring Fest, starting this Friday May 15th and running through Sunday May 17th.

I saw a sign as I was driving through the downtown area this weekend with the dates and times:

Friday May 15th from 4:00 -midnight
Saturday May 16th from 10:00-midnight
Sunday May 17th from 12:00- 6:00 pm

Now don’t quote me on the times I’ve posted here… I was driving at the time, but I’m pretty sure this is what I stored in my brain from my photographic memory!

There will be a carnival, a craft show, food vendors, a beer garden, and live entertainment. One of my favorite booths had always been the fresh strawberry shortcake stand, but I haven’t seen it there for the past 3 years. I remember when we first moved to Plainfield that this Spring Fest was once called the Plainfield Strawberry Festival. I wonder why they changed the name, and where did those delicious strawberry shortcakes go?

Here is the schedule of events for the 2009 Plainfield IL Spring Fest:

Friday, May 15th
6:00-9:30pm Plainfield’s Biggest Open Mic Jam
9:30 -11:30pm Echo Son

Saturday, May 16th
11am - ATL Youth Cheerleaders
12:30 Elite Martial Arts
1:30-3:30pm Hot Hot Robot
4:00-6:00pm 40 Miles to Chicago
6:30-8:30pm The Catch
9:00-11:30pm Velocity

Sunday, May 17th
12:00-2:30pm The Debe Welch Band
3:00-6:00pm Beat Apple

If you’re able to make it out there this weekend, have fun! I know we are looking forward to it. The Plainfield Springfest is being supported by the MainStreet Plainfield Organization and it’s sponsors.

Julie Ferenzi | Realtor®
Plainfield IL Homes for Sale
630-673-6233

"Whether LaNita or any other realtor is responsible for sales in the millions or billions of dollars or not, that in itself doesn't impress me.

LaNita will work just as hard for you regardless of the price tag. Her work ethic and integrity shine through.

LaNita is focused as can be. LaNita never once answered an unsolicited call during any of the time we were working together, be it going to a house, viewing the house, or writing up an offer. If on the rare occasion I asked a question she didn't have an answer to, she might call for clarification on it from the other agent. That would be the only time she was on the phone in my presence.

You don't wonder if she's on your side, you know it.

Due to economic circumstances, my price range changed somewhat during the course of the house hunting process, and LaNita completely understood it.

Since I don't buy houses for any other reason than to live in, my experience with realtors is limited to 3 buys and two sells. That said, LaNita is the only one for me.

Had LaNita been selling homes at the time I put mine up for sale, I definitely would have signed up with her. Fortunately for you, she does now.

If and when I put my current home up for sale, I won't consider anyone else."

John Sankis, Plainfield IL - Closed Feb. 13, 2009

In hopes of keeping my readers up to date on the rental market in Plainfield IL, I will start listing the properties that have rented month by month. Hopefully this will give anyone considering a rental home in Plainfield IL an idea of the price ranges of homes available for rent.

The following properties rented in Plainfield IL in the month of April 2009:

2 Bedrooms Single Family Plainfield IL Rental Homes:

• 13918 S. Oakdale Ct. rented for $1,200
• 2414 Millpond Ct. rented for $1,230
• 5007 Elmira Ct. rented for $1,300
• 16250 Fairfield Dr. rented for $1,350
• 5102 Edgewater Ct. rented for $1,395
• 21316 W. Douglas Ln. rented for $1,500
• 13212 Lake Mary Dr. rented for $2,100

3 Bedroom Single Family Plainfield IL Rental Homes:

• 14052 Edgewater Ln. rented for $1,275
• 5520 Stonybrook rented for $1,275
• 21512 S. Empress rented for $$1,300
• 14219 S. Napa Cir. rented for $1,300
• 4920 Montauk Dr. rented for $1,375
• 21252 Edison Ln. rented for $1,395
• 23814 Mistwood Dr. rented for $1,400
• 14624 Samuel Adams Dr. rented for $1,500
• 2018 Alpine Way rented for $1,550
• 5307 Riviera Blvd. rented for $1,595
• 1304 Broadlawn Dr. rented for $1,700
• 12925 Tipperary Ln. rented for $2,175

4 Bedroom Single Family Plainfield IL Rental Homes:

• 1617 Brighton Ln. rented for $1,625
• 2817 Stonebridge Dr. rented for $1,850
• 6307 Ventura Ct. rented for $2,000
• 13358 Wellesley Ct. rented for $2,250

If you or someone you know are thinking of renting a home in Plainfield IL call me at 630-673-6233. I’ve been working the rental market in Plainfield IL since the beginning of the real estate market decline. I’ve placed 7 families in rental properties in the last 2 months. No one works harder when it comes to placing families into new homes!

If you are behind in payments you may qualify for a loan modification or a short sale. Contact me to find out if you might qualify for one of these options to avoid a foreclosure.

Julie Ferenzi | Realtor®
Plainfield IL Homes for Sale
630-673-6233

Matt's Pit Crew Hot Dog Sales Saturday May 16, 2009 from 11:00am - 4:00pm at Strack & Van Til -
59 & Cation Farm Road, Plainfield, Illinois 60586

This event will be for the American Cancer Society, we will be selling hot dogs for our Relay for Life team, Matt's Pit Crew.

Come out and support the American Cancer Society, and have a cheap lunch.
Ticket Info: $1.00

For all your real estate needs in Plainfield and the Plainfield area, call LaNita Cates with REMAX at 630-341-1545 or visit www.lanitacates.com.