mn mortgage mom ramblings: Mortgages...And You Thought You Were Confused Before?
- 01/20/10 10:47 AM
Mortgage Client: "I'm confused. I don't understand. None of this makes sense. This paper does not even give me the numbers I need to know."Loan Officer: "Why, Mr. and Mrs. Mortgage Client, you are absolutely correct...all this confusion compliments of our wonderful government and their ivory tower."Could government just leave well enough alone? Yes, the MN Mortgage Mom is on a rant!As of January 1, 2010, the newly overhauled Good Faith Estimate (GFE) and HUD-1 Settlement statement went into effect. And boy, what a confusing mess it is!Last week, I met with a new client who has bought and sold real estate several times. … (0 comments)
mn mortgage mom ramblings: The MN Mortgage Mom Receives Accolades!
- 01/03/09 10:05 AM
Far too seldom do we recieve warm praises in this somewhat "thankless industry". I have held several careers in my lifetime and this is bar-none, the most challenging of all. Long hours, endless need for research and guideline changes almost every day. I am the Financial Planner, the Accountant, the Researcher, the Preacher, the Teacher and the Psychologist all wrapped into one role of Mortgage Loan Consultant. Nevertheless, it is bar-none the most rewarding career ever. I am helping and changing people's lives on a daily basis. I want to thank those who have taken a moment to give me their … (0 comments)
mn mortgage mom ramblings: CASH FOR KEYS...With a Twist!
- 08/13/08 02:23 PM
I have heard and read a lot about the Cash for Keys programs that banks offer renters or current occupants after the home has been foreclosed on. Cash for Keys is basically a monetary incentive that the bank will offer to the resident to move out by a certain date, thereby gaining possession of the property quicker and cutting losses. To read a great article loaded with details on this, go to John Occhi's post, "I Don't Get It! The Bank Forecloses on Their home and Then Pays Them To Move...Or Why Cash for Keys. So what is Cash for Keys...with a twist? Well, today … (11 comments)
mn mortgage mom ramblings: Stealin' the Show in Cottage Grove!
- 08/07/08 06:26 AM
For nearly 15 years, I have enjoyed this wonderful community. It's great neighborhoods, sense of safeness, friendly people and an overall feeling of peace living here. And who can forget about the new Culvers moving in! Yummmmm!! Last evening, I took our puppy, Mic, for a walk (okay, puppy in mind and soul...maybe not so much puppy in size). We stopped along the way to visit with people outside and just enjoyed the beautiful summer evening. Now, everyone who lives here can tell you how nice our parks are and Mic (puppy) is no exception. He has one particular favorite that we frequent all … (0 comments)
mn mortgage mom ramblings: Just Walk Away
- 02/07/08 01:35 PM
Unbelievable.............. Is walking away from your mortgage becoming the next biggest trend? We all know that the sub-prime crisis has had an incredible impact on homeowner's losing their homes due to increasing rates. People just flat out cannot afford the higher payments and are "forced" into foreclosure. We also know that home values have been plummeting and people cannot even refinance because they owe more than what there homes are worth. Again, being "forced" into foreclosure. How about the rest of us? HEY, JUST WALK AWAY! Is this the next socially acceptable, easy to do trend to hit our industry? Consider this: Skipping … (31 comments)
Mortgage Client: "I'm confused. I don't understand. None of this makes sense. This paper does not even give me the numbers I need to know."Loan Officer: "Why, Mr. and Mrs. Mortgage Client, you are absolutely correct...all this confusion compliments of our wonderful government and their ivory tower."Could government just leave well enough alone? Yes, the MN Mortgage Mom is on a rant!As of January 1, 2010, the newly overhauled Good Faith Estimate (GFE) and HUD-1 Settlement statement went into effect. And boy, what a confusing mess it is!Last week, I met with a new client who has bought and sold real estate several times. … (0 comments)
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