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V ai rr fniL'A/.." /F .*1 P.F.F. : w:» Financial estate tax planning seminar iday Everyone need* basic financial, tax and estates planning knowledge. McHenry County College is offering a three-part seminar to be held on Saturday, Nov. 19, and Tuesdays, Nov. 22 and 29 that will include information on personal financial and estate planning, tax planning, tax planning investment alter­ natives, property ownership, bank and trust services, retirement planning and various tyj>es insurance seminar is being con­ ducted by members of the McHenry County Estate Planning Council, made «of professionals in the fields of law, accounting and insurance who work in the county. On Saturday, Nov. 19, seminar participant! will meet at Lakeside Center In Crystal Lake from 8:30 a*.m,.to 3 p.m. Financial Planner Joan Baurer will speak on financial planning, followed by James Zambon, a banking trust officer, who will talk about deposit accounts and lending. After a coffee break. Attorney Barbara Walters will address the subject of wills, probate and related topics. After lunch. Accountant Lee Shippv ̂ will delve into the subject of estate and gift taxes and William Neumann, an insurance broker, will discuss risk coverage. Tuesday, Nov. 22, the group meets 7-9:30 p.m. at Lakeside Center. Ms. Walters will explain trusts and their uses. Shippy will talk about income tax planning and retirement plans. Tuesday, Nov. 29, seminar participants convene again at Lakeside Center at 7 p.m. to hear Zambon explain the duties of the executor and trustee, and Baurer provide a summary of investments and financial planning. Registrations will be ac­ cepted at MCC Monday through Thursday, 8:30 a.m.-4:30 p.m and 5:30-8:30 p.m., and on Friday, from 8:30 a.m.-4 p.m., through Nov. 16. H^here & ̂there in Business General fund slipping The available balance in the state's General Funds at the end of October was $123 million, slipping below the $200 million fiscal "warning zone" level, Comptroller Roland W. Burns reported. The end-of-October balance was $94 million less than the previous month, but still $31 million higher than the balance of the end of October, 1982. At sales conference Explain new FHA mortgage loan program by Yvonne Beer, executive vice- president, McHenry county board of realtors. The McHenry County Board of Realtors responds to questions about buying a home. Q.--We understand that mortgage insurance on FHA loans now must be paid in a lump sum at the time of pur­ chase. Isn't this defeating the low-downpayment advantage of FHA loans? *• A.--No. While homebuyers who use loans insured by the Federal Housing Administration must pay their mortgage in­ surance at the time of set­ tlement. buyers may borrow the money tor the upfront premium from the lender and repay the amount, plus interest, as part of the monthly mortgage at 0.5 percent per year of the outstanding loan principal. This required lenders to collect and remit to the Department of Housing and Urban Develop­ ment (HUD) monthly in­ stallment mortgage insurance rates. The change does npt in­ crease minimum downpayment requirements. Q.-Will the new the number of points time of settlement? affect at the R ealtors ECORD over the life of the loan, me new system, effective this month, uses a different method to calculate the premium amount. In the past, premiums were set premiums. Under the new rule, the upfront premium will range from 2.9 to 3.8 percent of the loan amount - depending on the jrtion of the premium that is iced. The rates can be adjusted, if necessary, to reflect changes in HUD's expectations of FHA administrative ex­ penses, insurance claim losses, and mortgage prepayment A.-The buyer still has to pay one loan discount point, equal to 1 percent of the total loan amount minus any amount of insurance premium that is financed. In other words, there will be no increase in this part of the closing costs. Similarly, there will be no increase in loan origination fees. The number of discount points paid by the seller continues to be determined by market conditions. Q.-Will there by any com­ pensation for homebuyers who pay off their FHA loans at an early date? A.-Yes. Buyers who prepay mortgages will get an insurance refund on a prorated basis. If you have any questions relating to real estate, send them to the McHenry County Board of Realtors at 1065 Lake Avenue, Woodstock, Illinois 60098. Questions of general in­ terest will be answered in future columns. However, the Board cannot guarantee a response to all questions. Steven Anderson, Island Lake, recently attanded a national sales conference sponsored by Aid Association for Lutherans (AAL). The executive conference was held in Orlando, Fla. Anderson is an associate of the Morrow Agency of AAL, Elgin. He was selected to attend the conference from among AAL's 1600 district representatives on the basis of outstanding sales and service to AAL members during the association's last marketing year. r Renew license for arcade Another Galaxy, video game arcade, has received a one-year license renewal from the McHenry City Council. The council stated that the establishment was "a favorable asset to the community." EVERY TUESDAY NIGHT IS SPECIAL RUSSE.LLS FURNITURE v oMurifuX Puff v. tiUILTCP soft* *• yK&tcS, ' t-OVMEM- IN A d P ; s l u e . \ o o % n v w » j vUN ̂ /"V H*iT - Benrud vice president of trade association David Benrud, owner of McHenry Auto Parts, Inc. in McHenry, was recently installed as second vice-president of the Automotive wholesalers of Illinois (AWOI). McHenry Auto Parts has been a member of AWOI since 1968. Installation took place during AWOI's twenty-fifth annual convention in Springfield. AWOI is a statewide trade association representing auto parts stores and related automotive af- termarket industry members. Hie Association celebrated it's 25th anniversary at this year's convention. SUPER FALL Choose from Burning Bush, Red, Yellow & Variegated Dogwood, Red and Pink Weigela, Upright & Globe Arborritae Andorra, Pfitzer & Blue Rug Juniper, Gold Flame, Bridal Wreath Spiera, Dwarf & Regular Honeysuckle and Many, Many more. All grown right here! 30540 N. DARRELL ROAD McHENRY • (VOLO) RTE. 120 EAST TO DARRELL ROAD. THEN SOUTH 1 % MILES TO NURSERY. K7TFX7M> rnrv mlfl ivB The McHenry Plaindealer • 3812 W. Elm Street McHenry, II. 60050 1 3YEARS • $43.00 r ' 2 YEARS • $30.00 T I YEAR $19.00 f 6MONTHS • $10.00 Name Address City i Prices good in McHenry County WARREN BARR WORLDS FINEST HOME OF EAT1N CHICKEN BR0ASTED ESDAY NIGHT SPECIAL 3-PIECE $ 1 7 9 CHICKEN DINNER (INCLUDES FRIES. COLE SLAW 8 ROLL) SOfA LOVE SCAT**' 2.H1 -- 3 CONVENIENT LOCATIONS.. McHENRY (115)344-1103 WOODSTOCK (815) 338-9706 ELGIN (312) 888-0900 (West Side Store Only) 3t>U HWI20 /AcHEMRy EACH 1 Gal. Containers Reg. $3.33 to $4.29 each , 'mix Acorn Ridge Nursery RENT-A-CAR FORD MERCURY liiiiimiHH Parks 6 . M U Streets ( 2 2 . 0 1 % ) Public Property 14.65% City Clerk 5.?9* Police Dept. 39.66% LAKEVIEW 90 S. Rt. 12, FOX LAKE (312) 587-4200 NEED A CAR... RENT A FORD •Low Daily Rates •Ask About Our Weekend Specials •Rent By The Day, Week or Month •Air Conditioning Available •Most Major Credit Cards Accepted •Also, Vans For Moving or Pleasure! CALL (312) 587-4200 When you shop McHenry for the holidays every dollar spent favorably affects the community in which you live. 11.95% of the sales tax money returned to McHenry (see chart at left) provides our Administrative Depart­ ment with necessary equipment and man power. By the use of computers, reliable and economic methods can be used to administrate city services and assure accu­ rate maintenance and updating of city records and historical files. So this holiday season we invite you to spend Christ­ mas with us and reinvest in the future of McHenry, making it an even greater place to live for al . . .a promise that comes from the City, "that works for You." ad paid for by CUaivbc/* of. Cowwe/icc 1257 N GAEEN ST MCHENRY. I 60050