Latest / WIXN AM 1460 - Shaw Local Radio / Talk Line 08-07-2026: FNBA's Marion King shares financial tips for homeowners

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Talk Line 08-07-2026: FNBA's Marion King shares financial tips for homeowners · WIXN AM 1460 - Shaw Local Radio

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  Speaker 1: It's eight thirty five on your Friday morning, and that
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  Speaker 1: means it's time for talk line. And I'm joined in
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  Speaker 1: the booth once again by our good friends from the
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  Speaker 1: First National Bank and Amboy Marion King. Here, Marion, how
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  Speaker 1: are you today?
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  Speaker 2: I'm good, I'm good, glad it's Friday. Ready for the weekend.
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  Speaker 1: Absolutely. Now, you're a consumer loan officer and I was
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  Speaker 1: kind of joking with you giving you a little bit
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  Speaker 1: of the business over the math that I'm sure that
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  Speaker 1: you've had to do. What is a consumer loan officer?
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  Speaker 1: What's your job? What do you do?
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  Speaker 2: I deal with the both just non real estate and
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  Speaker 2: the real estate on the consumer side, just trying to
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  Speaker 2: help people get a loane, help a lot of people
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  Speaker 2: get their first homes, which is exciting. So yeah, that's
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  Speaker 2: pretty much the gist of it.
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  Speaker 1: Okay, so real estate and non real estate. So if
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  Speaker 1: I wanted a loan for say, like a pair of tigers,
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  Speaker 1: could I come talk to you? You know what I mean?
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  Speaker 1: Get some of that. So who are the performers that
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  Speaker 1: had the tigers?
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  Speaker 2: I can't remember. Maybe I can picture them, but I
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  Speaker 2: cannot remember.
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  Speaker 1: But well, I guess maybe I could well We'll have
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  Speaker 1: to run the application and look at a few things, right.
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  Speaker 2: Yeah, I have to make sure that we had a
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  Speaker 2: good and collateralized that's for sure.
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  Speaker 1: Yes, well, I'll have to get some scratching posts in
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  Speaker 1: my house before I come talk to you. But it's
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  Speaker 1: good to know, but more useful for most folks. I
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  Speaker 1: think we're going to start off today is talking about
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  Speaker 1: second mortgages.
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  Speaker 2: Right, There's a lot of people during the low interest
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  Speaker 2: rate boom, they refinance their homes. They're locked into that
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  Speaker 2: little rate that they don't want to lose. So we
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  Speaker 2: could always look at we have different options. We could
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  Speaker 2: look at doing a second mortgage on the property, taking
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  Speaker 2: the equity that you've built up in your home to
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  Speaker 2: do a second mortgage, or even looking at a home
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  Speaker 2: equity line of credit that doesn't necessarily have to be
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  Speaker 2: used for your home. You can use it for anything,
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  Speaker 2: but it's based on the equity that you've built up
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  Speaker 2: on your home, and that way you're not messing with
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  Speaker 2: that low rate that you got a few years back.
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  Speaker 1: Okay, And to reel this back maybe for somebody who
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  Speaker 1: you know, I'm certainly not all that savvy on all
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  Speaker 1: of it, and I'm certain there's some people. Let's start
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  Speaker 1: at the base. What exactly is a second mortgage?
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  Speaker 2: A second mortgage is just as it says, it's in
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  Speaker 2: second place behind your primary first mortgage. So it's just
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  Speaker 2: a mortgage that's put on your home back behind the first.
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  Speaker 1: Okay, And what are people able to use these for?
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  Speaker 2: You could use it for anything, I mean it. You
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  Speaker 2: could take a mortgage out.
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  Speaker 3: To do some repairs or some upgrades to your home.
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  Speaker 3: You could take it out to go on a vacation
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  Speaker 3: if if you really wanted to put another mortgage on
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  Speaker 3: your home.
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  Speaker 1: Probably best to replace the roof over the Bahamas. But
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  Speaker 1: she is letting you know you have your options. Yeah,
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  Speaker 1: she's not telling you how to live your life.
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  Speaker 2: Absolutely, And like for the home equity line of credit,
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  Speaker 2: I mean that one, you can borrow up and down
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  Speaker 2: as much as you want for whatever you've been approved for.
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  Speaker 2: And a lot of people use it for just those
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  Speaker 2: things that come up at you know, at bad times,
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  Speaker 2: and that way you don't have to go through the
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  Speaker 2: loan process. You've already been approved. You can write a
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  Speaker 2: checkout for whatever you need. It can be used to
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  Speaker 2: buy a car, it can be used for kids in college.
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  Speaker 2: It could be used for anything. It Yeah, pretty much anything.
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  Speaker 3: No.
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  Speaker 1: I like that, And I think a lot of people
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  Speaker 1: probably aren't aware that that's something that's available to around
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  Speaker 1: you know, and that's you know, an important thing to
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  Speaker 1: note about that the home equity line of credit. And
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  Speaker 1: correct me if I'm getting it wrong. But you said,
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  Speaker 1: because this is equity you've already built up, there's no
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  Speaker 1: needing for the approval part.
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  Speaker 2: Right, You're you're approved for a certain amount, yet yeap
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  Speaker 2: of what you want to be approved for. You don't
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  Speaker 2: have to go for the full amount of equity that
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  Speaker 2: you have in your home. I mean, if you're only thinking, well,
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  Speaker 2: I just want to be approved for twenty thousand, that's
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  Speaker 2: that's fine. But then, like I said, it's you can
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  Speaker 2: borrow up and down as much as you want. Yeah.
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  Speaker 2: If you don't use it, then it just sits there
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  Speaker 2: at a zero balance and you have no payment on it.
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  Speaker 1: Yeah, but that's a fantastic tool to have. So if
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  Speaker 1: you're sitting there, maybe something happened, you know, maybe the
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  Speaker 1: maybe the furnace went out, or you had to do
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  Speaker 1: a whole new you know, you had to call the
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  Speaker 1: plumber boy. Those guys make a lot of money. I
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  Speaker 1: should have studied pipes instead.
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  Speaker 2: Of exactly exactly. Yeah, I mean, like I said, it
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  Speaker 2: can be used for anything. It's it doesn't have to
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  Speaker 2: be used for your home.
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  Speaker 1: Well, that's wonderful. If you have any more questions about that,
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  Speaker 1: of course, caller good friends at the First National Bank
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  Speaker 1: of Amboy. They'll be happy to walk you through that
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  Speaker 1: answer any questions. But that's a fantastic tool to have
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  Speaker 1: in your back pocket.
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  Speaker 2: And especially, like I said, a lot of people don't
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  Speaker 2: want to mess with those great rates that they've got
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  Speaker 2: locked in. Yeah first so they're worried that they can't
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  Speaker 2: do anything, but they can. They can. It'll be a
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  Speaker 2: second mortgage, it'll be a little bit higher rate, but
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  Speaker 2: you have flexibility there.
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  Speaker 1: Yeah, you have flexibility, you have options. Having a home
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  Speaker 1: and having that property kind of gives you the ability
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  Speaker 1: to be able to do that. So many of us
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  Speaker 1: don't realize that, and that's why being able to have
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  Speaker 1: these kind of conversations with your bank is so important. Correct, Yes, well,
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  Speaker 1: I love that. I love that you're getting kicking this
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  Speaker 1: knowledge out all of our listeners. I know so many
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  Speaker 1: of them are going to be able to use this
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  Speaker 1: shred Days coming up in September. We want to cover
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  Speaker 1: we do, we do.
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  Speaker 2: We have some shred days coming up Saturday September twelfth,
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  Speaker 2: it'll be at our Dixon location, the North location by
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  Speaker 2: County Market. Saturday September nineteenth, they'll be in Franklin Grove Branch.
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  Speaker 2: And then Saturday the twenty sixth at the Amboy Main Branch. Okay,
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  Speaker 2: and those are free shred days. The people just bring
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  Speaker 2: their shred, they dump it in this huge truck and
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  Speaker 2: they don't have to even get out of their car.
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  Speaker 2: If they don't want to, they can drive up, open
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  Speaker 2: up the back end of their car or put it
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  Speaker 2: in the back seat and we can grab it and
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  Speaker 2: throw it in the truck and off and go.
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  Speaker 1: Okay, very cool. I like that. I'm glad that you
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  Speaker 1: explained that. I'm an old nineties kid. I was picturing
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  Speaker 1: you with a skateboard and a halfpipe in front of
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  Speaker 1: the bank. I was like, shred days, this is awesome.
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  Speaker 2: Oh there you go. Yeah, no, you wouldn't see me
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  Speaker 2: doing that, No, no, no, but yeah, and it's a
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  Speaker 2: great thing. A lot of customers do look forward to
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  Speaker 2: that every year.
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  Speaker 3: Yeah.
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  Speaker 1: Absolutely, Yeah, So love that you guys, do that anything
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  Speaker 1: else you want to share this morning, Mary.
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  Speaker 2: Not that I can think of off of the top
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  Speaker 2: of my head. Just yeah, if anybody has any questions,
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  Speaker 2: of course they can reach out to us. We can
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  Speaker 2: be reached in several different ways, especially for our loan department.
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  Speaker 2: You can apply for your loan right online, or you
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  Speaker 2: can call us, you can come in person. There's lots
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  Speaker 2: of different options that they can apply for a loan
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  Speaker 2: with us. We have several different branches. We have two
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  Speaker 2: in Dixon, two in Amboy, one in Franklin Grove, and
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  Speaker 2: one in Monroe Center. And yeah, they can go to
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  Speaker 2: Fnbamboy dot com and see all that we.
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  Speaker 1: Offer, go online, give them a call. Even better yet,
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  Speaker 1: I always suggest go in person. It's always so nice
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  Speaker 1: to have these kind of conversations the way me and
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  Speaker 1: you are having that always goes so much easier. People
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  Speaker 1: think of what they need right then and there, and
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  Speaker 1: they can handle it.
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  Speaker 3: First.
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  Speaker 1: National Bank and Amboys always terrific about handling those kind
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  Speaker 1: of personal conversations. Not to mention again, I mean, these
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  Speaker 1: are just two things of the plethora of services that
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  Speaker 1: are available that people really should be I know, we
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  Speaker 1: all think of a bank as this well guarded mattress
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  Speaker 1: that we go throw our money into until we need it,
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  Speaker 1: you know, or maybe to go and ask for a loan.
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  Speaker 1: But there really is just so much more that your
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  Speaker 1: financial institution can do free. You just got to go
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  Speaker 1: have those conversations correct so well, Marin, thank you so
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  Speaker 1: much for coming sharing this vital information for our listeners,
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  Speaker 1: and we look forward to having more updates from our
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  Speaker 1: good friends at First National Bank and Amboy sounds perfect.
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  Speaker 1: Thank you so much for having me pleasure