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Mall MotvFri. 10-9, Sat 10-5:30, Sun. 11-5 ealtors ECORD SECTION 2 - Page 5 • PLA1NDEALER HER ALP, WEDNESDAY , OCTOBER 24,1984 Business Alternative financing explained U By Yvonne Beer, executive vice- president of the McHenry County Board of Realtors The McHenry County Board of Realtors responds to questions aboutreafestate. % Q. 1 Understand that there is a new kind of fixed payment ad­ justable mortgage available. How does it work? Are there any ad­ vantages over more conventional financing. A. A new fixed payment ad­ justable mortgage offered by the Federal National Mortgage Association through conventional lenders provides the benefits of fixed payments with the discounts of Short-term rates tied to the one- year Treasury securities index. The initial interest rate is ap­ proximately two to 2.5 percentage points less than interest rates on 30-year fixed rate loans. That is the same discount available for a e-year adjustable loan. However, the new loan payments * are fixed for five years. There are two options available after the five-year period. You may convert the loan to a conven­ tional fixed rate loan for 25 years or get a new five-year, fixed pay­ ment loan. The rate would be bas­ ed on the average interest rates for the past four years and the cur­ rent prevailing rate on one-year adjustables. One of the biggest advantages of a composite rate is that it will help cushion you against payment shock if interest rates skyrocket over the next five years. There are a number of protective features, including a maximum 4.5 percen­ tage point increase above the in­ itial rate over the life of the loan. Tlfe plan also allows a cap on pay­ ment increases at any five-year adjustable loan. The FNMA per­ mits home buyers who plan to live in. their homes to make a downpayment as low as five per­ cent. It also allows 90 percent financing for Investors in small- scale rental properties. While the fixed-payment ad­ justable loan relieves fears of pay­ ment shock, there are some disad­ vantages. If rates on one-year Treasury securities increase, the lender raises an internal Interest rate on the loan. While this does not affect monthly payments, it tracks the amount of unpaid in­ terest which is added to the mor­ tgage principal balance. This is called negative amortization. Another disadvantage is that even if interest rates drop, payments would remain unchanged for the full five-year period. Doctor to open new office; in Johnsburg-Sunnyside A new physician, Dr. Daniel L. Icenogle, is opening his practice in the Johnsburg-Sunnyside area this month. He is a family practi­ tioner, specializing in the care of the entire family, including pediatrics, obstetrics and gynecology, adolescent and adult medicine. In addition, facilities will be available for minor emergency walk-in care. His office will be located at 3920 N. Wilmot Road, but is not yet ready for occupation. In the mean­ time, arrangements have been made for Icenogel to see patients at Northern Illinois Medical - - ft Center. Starting today, people may call 385-1090 to make an appointibent or if they have any questions. Hours will be from S:30 a.m. to 5 p.m. Monday, Wednesday and Friday, noon to 9 p.m. Tuefday and Thursday; and 9 a.m. to ndtn, Saturday. Icenogle is a graduate of Ni thwestern University and Loy Stritch School of Medicine, recently completed family prl tice residency at St. J Medical Center, South Bend, I He and his wife, Julie, are >ecting their first child Realtor tops $1 million in sales- Linda Brandenburger, a realtor associate with ERA-Advantage Real Estate in McHenry, recently surpassed the $1 million mark in sales volume. A graduate of the Northwest School of Real Estate Education, Brandenburger closed the sales volume in excess of $1 million by Sept. 1 of this year. She and her husband, Chuck, have two children and have lived in Settler's Woods for seven years. .» * v ' .'V;y UV" ' * *' '• n Meeting is set for retailers A retail town meeting has been scheduled for Friday, Nov. 2, at McHenry County College. The meeting will begin at 1:30 and all county merchants are invited to attend. Announcing the meeting plans, Carol Nelson, retail coordinator of the McHenry Area Chamber of Commerce, said store theft, re­ cent legislation, elections and economic development in Illinois are among the topics covered by IRMA (Illinois Retail Merchants Association) staff members. The meeting is open to all retail and service businesses, whether or not they are members of IRMA or the Chambers Of Commerce. For more information and reservations, contact the McHenry Area Chamber of Com­ merce at 385-4300. The meeting is sponsored by IR­ MA and the Chambers of Com­ merce in McHenry, Crystal Lake, Woodstock and Cary. Thursday thru Sunday Sale 11.99 Save 20% Misses Striped Sweaters Reg. $15. Easy-care novelty looks for winter-weary wardrobes. Crewnecks in camel, rose, blue and black; boatnecks in white, tea|, burgundy, purple and black. Acrylic in sizes s, m, 1. Sale 39.99 Save $15 Leather Handbags Reg. $55. Hobos, shoulder bags and double handle styles of butter-soft leather, crafted with a flair for contemporary detailing. Choose yours in taupe, wine, brown or basic black. Sale 15.99 Save $6 Men's Farah® Belted Dress Slacks Reg. $22. These good looks are easy-care thanks to the wrinkle- and stain-resistant polyester fabric. Grey, brown, navy and heather brown slacks with coordinating belts. Waist sizes 32-42. 12.99 Misses Long-Sleeved Shirts Stripe, plaid and tone-on-tone shins with Peter Pan collars and ribbon ties. Size? 8-18. Misses Ruffled Blouses Choose prints or white, navy, red, pink, blue, cream, black or grey solids. Sizes 8-18. 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Sizes 38-44. 2.20-3.80 Women's Hanes® Hosiery Underalls and Slenderalls panty­ hose in sheer-to-walst, control top and support styles. 9.99 & 11.99 Women's Tricot Sleepwear Long and short gowns in lace- trimmed and tailored styles. Nylon. Sizes s, m, I. 12.99 Men's Plaid Sport Shirts Button-down and spread-collar styles with long taile. Polyester/ cotton. Sizes s, m, I, xl. 11.99 & 12.99 Men's Long Sleeved Dress Shirts Spread-collar broadcloth style in stripes, checks and solids. Polyes­ ter/cotton. Sizes 14V*-17. 5.99 bath Lady Pepperell® Towels "Grandeur" combed cotton terry towels in 8 colors Hand, 3Jt. Wash, 2.19. 5.99 twin Sprlngmaid*' "Pinafore Solid" Sheets No-iron polyester/cotton percale in 6 colors. Full, S.S0. Queen, 12J0. Std. case, 7.09. TRAFFIC DEATHS For the first time in 1984, Illinois traffic fatalities showed an overall increase from the 1983 totals, ac­ cording to provisional figures released by the Department of Transportation and the Illinois State Police. The provisional total of 1,132 deaths in the first nine months of 1984 is an increase of one percent over the same period last year. 22.99 ' .Misses ' Lee* Stretch Jeans 5pocket Rider style of cotton/ polyester stretch denim. Sizes 6- 18. 1 - -r f Shop Spring Hill (312)426-9100 7.99 & Maxell* VCR Tape Standard VMS. Standard Beta, and High-Grade video cassette tapes.