What's going on in the sub-prime mortgage market? I am sure you have all heard of The Sub-Prime Mortgage Meltdown. According to the New York Times many of the top lenders in the nation are reporting serious losses, filing for bankruptcy protection, or looking for another company to buy them.
Hawthorne Credit Union continues to be a steadfast, strong financial institution. Other financial institutions entered risky ventures by holding sub-prime mortgages on their books, but Hawthorne did not.
Hawthorne maintains high standards in its lending practices, responsible investments and always strives for stable capital. We do not hold sub-prime mortgages on our books, which protects us from risk.
Further, Hawthorne Credit Union is here to stay. Since its inception in 1935, Hawthorne has been serving the people of the Chicago suburbs with honest service at affordable prices. Because we’re a not-for-profit financial cooperative, we’re owned by our members and therefore can’t be bought or sold.
If you entered into a mortgage that is too much to handle, contact our specialists at Hawthorne. Jean Harlowe, our mortgage specialist, can help refinance your loan into one with more affordable payments. For those with more serious needs, Sharon McCroskey, our credit counseling specialist, can discuss options and help find a desirable solution. Contact us at 630-369-4070.
Thursday, September 27, 2007
Thursday, September 13, 2007
September is Life Insurance Awareness Month: It's Time to Stop Gambling with Our Families Financial Futures.
Do you ever wonder what would happen to your family, if something happened to you? The thought is so scary and hard to think about, that a lot of us have decided that the possibility of this is unlikely and it is easier not to deal with the issue at all. Unfortunately there are many times when this solution does not work.
If you have found yourself or a family member in this situation, you know all too well, how true this is. Without the financial means to continue through life without a loved one that you were financially dependent on, the ability to deal with such a significant loss becomes even more difficult.
Gambling has become a popular pastime in America. Consider the craze over the multi-state Mega Millions lottery. Every time the jackpot rises to eight or nine figures, millions of Americans run to their local convenience store for a chance to become the next mega millionaire. Their chance of winning? About 1 in 175 million. The good news: the consequences of losing aren’t usually very severe, since the average investment is only a few dollars.
Contrast that to the financial consequences of dying prematurely and not having adequate life insurance protection. The outcome can be dire. Bills pile up quickly. Mortgage or rent payments get missed. Families are forced to find cheaper housing. Education plans are put on hold. Dreams get dashed.
What’s most frustrating is that all of this financial suffering is avoidable with proper insurance planning. Then why do three in ten adult Americans have no life insurance at all, and most of those with coverage have far less than experts recommend? The answer is simple. We’re a nation of gamblers. But in this particular case, many Americans are taking a bad bet.
Ask a 35-year-old man what his chances of dying are in the next 15 years and he’ll probably say, “Pretty slim”. Actually, he’s right. About 95% of men that age will live beyond their 50th birthday. But of the nearly 2.1 million 35-year-old US men, consider how many won’t live that long. 21,126 won’t live to age 40, 52,817 won’t make it 45, and nearly 100,000 35-year-olds (or 1 in every 21) won’t live to see their 50th birthday.
Most Americans don’t fully appreciate the gamble they’re taking by not having adequate life insurance coverage. The chances of dying too young are much greater than most people realize and life insurance protects your loved ones in case the unexpected happens.
For more details on life insurance or to schedule a no-cost, no-obligation appointment with Financial Network Registered Representative, call 630-983-2310, fill out our request form, or email us today. And watch for upcoming announcements on our no-cost financial seminars.
If you have found yourself or a family member in this situation, you know all too well, how true this is. Without the financial means to continue through life without a loved one that you were financially dependent on, the ability to deal with such a significant loss becomes even more difficult.
Gambling has become a popular pastime in America. Consider the craze over the multi-state Mega Millions lottery. Every time the jackpot rises to eight or nine figures, millions of Americans run to their local convenience store for a chance to become the next mega millionaire. Their chance of winning? About 1 in 175 million. The good news: the consequences of losing aren’t usually very severe, since the average investment is only a few dollars.
Contrast that to the financial consequences of dying prematurely and not having adequate life insurance protection. The outcome can be dire. Bills pile up quickly. Mortgage or rent payments get missed. Families are forced to find cheaper housing. Education plans are put on hold. Dreams get dashed.
What’s most frustrating is that all of this financial suffering is avoidable with proper insurance planning. Then why do three in ten adult Americans have no life insurance at all, and most of those with coverage have far less than experts recommend? The answer is simple. We’re a nation of gamblers. But in this particular case, many Americans are taking a bad bet.
Ask a 35-year-old man what his chances of dying are in the next 15 years and he’ll probably say, “Pretty slim”. Actually, he’s right. About 95% of men that age will live beyond their 50th birthday. But of the nearly 2.1 million 35-year-old US men, consider how many won’t live that long. 21,126 won’t live to age 40, 52,817 won’t make it 45, and nearly 100,000 35-year-olds (or 1 in every 21) won’t live to see their 50th birthday.
Most Americans don’t fully appreciate the gamble they’re taking by not having adequate life insurance coverage. The chances of dying too young are much greater than most people realize and life insurance protects your loved ones in case the unexpected happens.
For more details on life insurance or to schedule a no-cost, no-obligation appointment with Financial Network Registered Representative, call 630-983-2310, fill out our request form, or email us today. And watch for upcoming announcements on our no-cost financial seminars.
Friday, September 7, 2007
We Can Help You Save for the Holidays!
Believe it or not, it’s getting to be that time of year again! Time to start thinking about the upcoming holiday season! I know, you might think I am crazy, but before you know it you’ll be planning Thanksgiving, buying gifts and possibly traveling. Can you see the dollar signs yet?
As far as I am concerned it’s never too early to start saving money and shopping for the holiday season. For some of us, including me, this is easier said than done. In January it does not seem important to start saving for Christmas, since most of us are just starting to try and recover from the financial impact that the previous holiday season has had.
A couple of years ago I decided that I wanted to do something to prepare for the holiday season and make the holidays more enjoyable and less stressful on me and my family. I decided to open a Christmas Club Account at Hawthorne.
This is a savings account that I can deposit money into throughout year to effortlessly build up a nice gift fund. In November the money automatically gets deposited in to my savings account and I can go shopping without having to worry about paying for everything.
Last year I got a late start and only had $300 in the account when the money got transferred, but this year I have been doing better. I transfer $25 - $50 each pay period into my Christmas Club Account. This year when the deposit is made I should have about $800. This will help take some of the pain out of my excessive shopping.
For us, there is not a better way to save money for the holidays than this kind of savings account. So easy & painless!
Click here for more information on the Hawthorne Christmas Club Account.
As far as I am concerned it’s never too early to start saving money and shopping for the holiday season. For some of us, including me, this is easier said than done. In January it does not seem important to start saving for Christmas, since most of us are just starting to try and recover from the financial impact that the previous holiday season has had.
A couple of years ago I decided that I wanted to do something to prepare for the holiday season and make the holidays more enjoyable and less stressful on me and my family. I decided to open a Christmas Club Account at Hawthorne.
This is a savings account that I can deposit money into throughout year to effortlessly build up a nice gift fund. In November the money automatically gets deposited in to my savings account and I can go shopping without having to worry about paying for everything.
Last year I got a late start and only had $300 in the account when the money got transferred, but this year I have been doing better. I transfer $25 - $50 each pay period into my Christmas Club Account. This year when the deposit is made I should have about $800. This will help take some of the pain out of my excessive shopping.
For us, there is not a better way to save money for the holidays than this kind of savings account. So easy & painless!
Click here for more information on the Hawthorne Christmas Club Account.
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