This Sunday, March 19, will be the 28th running of the March Madness Half Marathon. It starts at 8:35 AM from the Cary-Grove High School at 2208 Three Oaks Road in Cary, IL. The challenging course begins heading East on Three Oaks Road in Cary (McHenry County) to Hickory Nut Grove Road where it heads North and then back West. (Hickory Nut Grove Road is the eastern border between McHenry County and Lake County and passes the Harvest Glen custom homes built by Verseman Development on the Lake County side of Hickory Nut Grove Road.) The event web site says that "The course has been dubbed the most challenging in Northern Illinois and an excellent training race for spring marathons." (Having biked the hilly course, I don't envy the runners and am amazed how many return each year.) 15 special entries will be made available as charitable donations to promote the Hillstriders Scholarship Fund.
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Does this sound familiar? A couple of weeks ago, my daughter in law said that with the cold weather, the kids were going crazy in the house. My wife had an idea that turned into a great day. Pack the kids in the car and we will go to Timber Ridge water park in Lake Geneva, Wisconsin.
As we have done in the past, Timber Ridge is close enough to take a mid-week escape from a gloomy winter. Kids up to age 12 have a blast with water slides, pools, and arcade games. While we cruize around the lazy river or enjoy some refreshment we know that the kids are in view or close enough to keep track of them. My grandchildren can not get enough of the water park and suddenly are on their best behavior when they know a trip to Timber Ridge is being considered.
If you are looking for a change of pace, or a great reward for the kids, consider doing what we do. Take a short afternoon drive from the Barrington area and enjoy the water park until 9PM. Bring your own snacks and breakfast if you like and check in to your suite where the next morning you can wake up knowing the water park is a short walk down the hall. The return drive is usually quiet as they fall asleep in the back seat.
Hope this helps someone looking for a great escape - we might see you there!
Condo mortgages are becoming more difficult . Lenders are tightening up their condo lending guidelines. One of the lenders that offers us the most competitive mortgage interest rates reduced their maximum loan to value for owner occupied condos purchase to 90%. They say it only affects declining markets and then list the following counties: COOK, DuPAGE, KANE, McHENRY, DeKALB, GRUNDY, KENDALL and WILL counties. LAKE COUNTY apparently is not considered a declining market at least not yet.
This lender has also indicated that if you are looking at less than 20% down and your FICO credit score is under 680, they will not allow mortgage insurance. Instead, you have to rely on a second mortgage or equity line for the difference. While this is often the preferred route, this often requires a review of the file by a second set of eyes. If those eyes are a bank, expect that their FICO requirements will tighten up as well.
If will not be long before other lenders follow this lenders lead and add another nail in the condo market.
Bottom line, if your are buying or refinancing a condo mortgage expect more hurdles and allow more time for approval.
Have a great day!
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Lake County, Cook, DuPage & McHenry County - Mortgage Professional not an order taker. $500 million in mortgage originations, CRMS, CMC & NAMP Itegrity Seal (USA top 1/2%) as well as CPA, CFP, & MBA
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