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I saw this interesting article on a recent change with Fannie Mae. Fannie Mae will no longer accept jobless benefits as income for those people looking to modify their Mortgage. Here is a copy and paste of the article:

“NEW YORK (CNNMoney.com) — Unemployed homeowners cannot count jobless benefits as income when applying for mortgage modifications if they have loans backed by Fannie Mae. That could greatly limit their ability to get a long-term reduction in their monthly payments.

Because the jobless benefits can’t be considered permanent income, the lender will instead evaluate troubled borrowers for forbearance plans of up to six months. The new guidelines, released Tuesday, will take effect Nov. 1.

“We don’t want to set up borrowers to fail, said Amy Bonitatibus, Fannie Mae spokeswoman.

Fannie Mae’s announcement broadens a ban already put in place from the Treasury Department. In July, the agency quit allowing unemployment insurance to be used as income when applying for the administration’s signature Home Affordable Modification Program, known as HAMP. Previously, borrowers had been allowed to do so.

Now, the unemployed who apply for HAMP are evaluated for forbearance plans, which can reduce or suspend their payments for at least three months.”

Here is some interesting stats from a quality of life study done. These are for the El Paso and Teller counties.

NAT STATS ~ The following data was collected from the Quality of Life indicators report for El Paso and Teller Counties:

— Over the last 10 years we have added 90,000 people to our community, but we have added only 14,000 jobs – 16,000 more military personnel, 2,000 fewer civilian jobs.

— Since March 2001, salaries and wages in El Paso County have dropped 10%.

— The major crime rate in Colorado Springs is nearly 20% less than the national average.

— We have 35 acres of park for every 1,000 people living in El Paso County – 40% higher than the national benchmark.

— There are over 200 arts and cultural organizations in the Pikes Peak region.

Not so rosy on the job or salary front, but it’s nice to know that we live in an area that encourages health of body and mind