iPhone Thefts on CTA

by Russ on December 1, 2009

So I was on the train this morning and the conductor made an announcement that all passengers should safely secure their iPhones.  I can only wonder if my wife’s very public outrage on her blog and others may have made it to the powers that be.

At least the CTA seems to be acknowledging (albeit quietly) that there may be an issue with grab and run thefts.  Hopefully, we will see more security in the future.

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Fraudulent Parking Tickets?

by RussNovember 25, 2009 Musings

I can admit, I have earned my fair share of parking tickets over the years.  However, last week I received an unjustifiable ticket and it got me wondering if the City of Chicago writes fraudulent tickets on the hopes that the some people won’t protest the ticket.
I was parked in front of my office on [...]

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iPhone Thefts on the CTA

by RussNovember 23, 2009 Musings

My wife had her iPhone snatched out of her hand yesterday while riding the Green Line through Austin heading downtown.   She always considered herself street savvy, but apparently in the midst of tweeting about god knows what and listening to her ipod, she let her guard down and some “yutes” yanked her phone out of [...]

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Calm Before the Storm

by RussNovember 23, 2009 Interest Rates

I sat down with Beejal Patel of the business news show, First Business X to discuss the unbelievably low interest rates in the market right now and if they are here to stay.
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Real Estate Slang – PITI

by RussNovember 13, 2009 Mortgage Slang

If you are refinancing or purchasing a home, you will often hear people refer to PITI.  This it a generic term used to represent your “all in” monthly payment on your house or condo.   PITI stands for Principal, Interest, Taxes, and Insurance.
Lenders use PITI to determine if you can afford the monthly carrying costs [...]

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Extended and Expanded… Home Buyer Tax Credit

by RussNovember 6, 2009 Politics

Well, it is finally official (sorta, President O still needs to sign off). The home buyer tax credit has been extended and expanded until next year. So here are the highlights:
First time home buyers still get the $8k tax credit. However, you must be under contract by April 30th, 2010 and closed [...]

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Stop Putting So Much “Faith” in your Good Faith Estimate

by RussNovember 3, 2009 Interest Rates

When shopping for a mortgage one of the first things consumers are told to do is to get a Good Faith Estimate (GFE). In fact, federal law requires mortgage lenders give you a GFE within three days of your mortgage application. A GFE is a break down of the costs associated with purchasing [...]

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Yes, You Are Just a Number

by RussNovember 1, 2009 Credit

The most important aspect of qualifying for a mortgage these days is your FICO score. FICO stands for Fair Isaac COpmany which is the company that developed the algorithm that computes your credit score.
Before you begin the shopping in earnest for a house, the very first thing you need to get a handle on [...]

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Most Expensive Cities

by RussOctober 26, 2009 Musings

When I moved to Chicago from Atlanta ten years ago, I went through some serious sticker shock.  Everything was so much more expensive – especially real estate.   When my wife and I bought our first two bedroom/two bath condo we paid more for it than a typical 3 bedroom/2 bath house in a hot neighborhood [...]

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Documentation Needed for a Mortgage

by RussOctober 23, 2009 Underwriting Guidelines

If you talk to enough people, one of the things you will find out about getting a mortgage is that it involves a ton of paperwork.  You can literally just hear the trees crying out in pain from all the printing and copying that is done.   If you are serious about buying a home [...]

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