http://homeloansmidwestblog.com The Skinny on What's Affecting Mortgages Sat, 28 Apr 2012 03:00:54 +0000 hourly 1 http://wordpress.org/?v=3.3.2 http://homeloansmidwestblog.com/2012/04/fomc-statement-april-2012.html/comment-page-1#comment-9600 A Simple Explanation Of The Federal Reserve Statement (April 25, 2012) « Home Loans Midwest | Latest Information Sat, 28 Apr 2012 03:00:54 +0000 http://homeloansmidwestblog.com/?p=1719#comment-9600 [...] A Simple Explanation Of The Federal Reserve Statement (April 25, 2012) « Home Loans Midwest [...] [...] A Simple Explanation Of The Federal Reserve Statement (April 25, 2012) « Home Loans Midwest [...]

]]> http://homeloansmidwestblog.com/2012/04/mortgage-rates-week-april-16-2012.html/comment-page-1#comment-9432 new homes Orlando fl Mon, 16 Apr 2012 14:53:22 +0000 http://homeloansmidwestblog.com/?p=1700#comment-9432 So, I promptly called my lenders modification department and was told that forms are being sent out in the mail. The forms never arrived so I called back a week later: they gave me instructions on submitting a hardship letter, proof of any income (such as unemployment benefits, distributions from savings or retirement plans), and an income/expense worksheet. Now, I need to mention something important here. When I was researching this subject, I came across a lot of chatter online and among friends that in order to get the bank to work seriously on your modification you have to be in default; that unless they are staring a loss in the face, they won't be motivated to work on your modification - not true. I got my modification approved otherwise. Besides, deliberately defaulting on payments brings a host of issues starting with shooting down your credit rating. I would highly discourage it as tactic less you are genuinely in default. So, I promptly called my lenders modification department and was told that forms are being sent out in the mail. The forms never arrived so I called back a week later: they gave me instructions on submitting a hardship letter, proof of any income (such as unemployment benefits, distributions from savings or retirement plans), and an income/expense worksheet. Now, I need to mention something important here. When I was researching this subject, I came across a lot of chatter online and among friends that in order to get the bank to work seriously on your modification you have to be in default; that unless they are staring a loss in the face, they won’t be motivated to work on your modification – not true. I got my modification approved otherwise. Besides, deliberately defaulting on payments brings a host of issues starting with shooting down your credit rating. I would highly discourage it as tactic less you are genuinely in default.

]]> http://homeloansmidwestblog.com/2012/03/case-shiller-index-january-2012.html/comment-page-1#comment-8840 Darren Thu, 29 Mar 2012 15:56:55 +0000 http://homeloansmidwestblog.com/?p=1672#comment-8840 Great info! Thanks for sharing this. Great info! Thanks for sharing this.

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