April 19, 2005
Scott Kelly, Senior Loan Officer
MIDWEST RESIDENTIAL MORTGAGE
5821 Tower Street Suite G
Rockford, Minnesota 55373
Dear Scott:
Just a quick note to express my heartfelt appreciation for the outstanding manner in which you arranged the refinance of our previous mortgage. Your company is one that other homeowners should know exists. From the very first letter we received offering to arrange a new, lower interest rate mortgage up to and including yesterday’s ‘closing’, the whole ‘refinance process’ was well-orchestrated and streamlined. I’m sure that you are very proud of your company and rightfully so.
In your initial letter, you stated that homeowner’s interest rates are usually higher than what they really can qualify for. In our case, you were exactly right. But how does one actually find that out? (From my past experience, lenders want to charge as high an interest rate as possible; it means more money for them!) Your company took the time to find the best interest rate and terms that best suited us. The new mortgage that we secured through your company had an interest rate that was ALMOST 2% LOWER than what we had been paying !!
Also in your letter, you talk about pre-payment penalties that have to be paid by the homeowner if they refinance through another mortgage company or bank. Again you are right; these pre-payment penalties can amount to thousands. With your company, there ARE NO PRE-PAYMENT PENALTIES!! And the actual ’closing costs’ that your company charged for this refinance were a fraction of what we have previously been charged.
A couple of other things about you and your company that impressed me was your personal ‘looking out’ for our ‘best interests’. That trait in itself makes your company stand ‘head and shoulders’ above any other mortgage company or bank that I’ve ever dealt with. Also, your being in constant contact with us during the entire refinance process so that we knew exactly what was taking place also was impressive.
You are a true professional when it comes to dealing with people and helping them refinance their existing mortgage. You are thoroughly familiar with the disastrous mortgage nightmare we recently encountered with the Norwood Young America branch of KleinBank; formerly known as the State Bank of Young America. Your service to us and your personal attention and involvement during this recent refinance project with your company was a good to us as KleinBank’s was bad. You may be assured that I will tell as many people that there IS a difference, a MAJOR difference, when it comes to home mortgages.
Here’s another interesting point: We refinanced our home in August 2002 with the State Bank of Young America (now known as the Norwood Young America branch of KleinBank.) At that time, nearly three years ago, interest rates were at, or very near, a forty year low; yet we were charged an interest rate of 8.5% by them.
Everyone knows interest rates have been slowly rising since that time. However, even though interest rates have steadily risen, your company recently gave us a LOWER INTEREST RATE than KleinBank gave us almost three years ago!! You don’t have to be a mathematical ‘genius’ to know which choice to make and be assured, I’ll tell everyone I know and see about what has recently taken place and recommend that they contact you to talk about refinancing their existing mortgages.
I’m was also impressed with your offer for a brief, informal initial conversation to tell me what your company could do for us regarding a refinance project. Chances are good that homeowners will find out it’s a good idea and they can save themselves thousands of dollars over the life of their mortgage. Your company’s unique ability to ‘pay off’ pre-payment penalties from other companies instead of ‘rolling’ them into a new mortgage also works to a customer’s advantage. And, as I stated previously, your company’s ‘closing costs’ were a fraction of what we have paid previously!!
All in all, our dealings with your company were superb and hassle free. You are a true professional in your field. I urge everyone in Minnesota to consider your company for any initial or mortgage refinancing needs. There was NO hassle, NO surprises and, most importantly, NO LIES !!
Thanks again for your personal attention and listen for MIDWEST RESIDENTIAL MORTGAGE CORPORATION to be regularly featured on my Old Tyme Music Internet Show heard around the world, across the nation and up your alley on www.247polkaheaven.com. I’ve also updated the ‘DELTA DICK’ home page to tell visitors to my website about your fine company.
Sincerely,
Richard E. Odoms
P.O. Box 97
Cologne, Minnesota 55322
P.S. I’ve taken the liberty to post this letter to you on my website so that others may discover that the don’t have to be financially exploited and raped by their former mortgage company and bank like we were.
Scott Kelly, Senior Loan Officer
5821 Tower Street Suite G
Rockford, Minnesota 55373
(763) 682-0019
