The Friendly Neighborhood Mortgage Guy's Blog

Are the Holidays here already?

Sean Wheelan (The Mortgage Group) — Sat, 21 Nov 2009 06:49:59 -0600

Wow!

I was asked to exhibit at a Holiday Bazaar last Friday....I can't believe the date of the event is today!!!

This is the time of year when people slow down and lose focus. I'll be working as much as I can while maintaining a family balance. After all, we all know the difference between good and great is not much. We just have to be willing to put out a little extra effort!

Can I help you buy your first home? Refinance your existing home while the rates are still at record lows?

Time to put on my "game face" and talk some business. Let me know if I can be of service?!

Wishing you all the best as we wrap up 2009 and head in to 2010 with some great momentum and opportunity!!!

The Friendly Neighborhood Mortgage Guy
401-965-9384
swheelan@tmgltd.biz
www.myRImortgage.com

The Mortgage Group: Over 1 Billion in loans and over 5,000 families served

Sean Wheelan (The Mortgage Group) — Tue, 29 Sep 2009 08:54:41 -0500

The Mortgage Group Ltd. is comprised of the area's most knowledgeable and caring mortgage professionals. We have helped thousands of families in New England realize their dream of home ownership. Since our inception in 2004, we have arranged $1,089,937,912.00 in mortgage loans while serving 5,127 families.

"May We Serve You Next?"

Join us in celebrating our latest achievement...

Customer satisfaction surveys tell us 98% of our clients would
happily refer their family and friends to The Mortgage Group.

The Mortgage Group Ltd. has helped over 5000 New England families achieve their goal of home ownership and financial security. In the process, we have closed over $1,000,000,000 in mortgages.

We thank you for helping us reach this Billion Dollar Milestone! During that same time, Inc. Magazine recognized us as one of the fastest growing mortgage companies in New England.

Thanks a billion!

If you'd like to be our 5,128th client and experience our great service and track record, just call!

Sean Wheelan
Personal Mortgage Consultant
401-965-9384
SWheelan@tmgltd.biz
www.seanwheelan.com

Mortgage rates inch upward

Sean Wheelan (The Mortgage Group) — Sat, 29 Aug 2009 11:48:19 -0500

Mortgage rates inch upward

By Chris Kissell • Bankrate.com

Mortgage rates barely moved in Bankrate's weekly survey.

The benchmark 30-year, fixed-rate mortgage edged up 1 basis point, to 5.53 percent, according to the Bankrate.com's national survey of large lenders. A basis point is one-hundredth of 1 percentage point.

The mortgages in this week's survey had an average total of 0.32 discount and origination points. One year ago, the mortgage index was 6.6 percent; four weeks ago, it was 5.56 percent.

The benchmark 15-year, fixed-rate mortgage slipped 1 basis point, to 4.83 percent. The benchmark 5/1 adjustable-rate mortgage jumped 9 basis points, to 4.95 percent.

Who gets the credit?

Home buying activity is picking up in many U.S. markets, sparking debate about whether a federal tax break deserves kudos for the modest turnaround.

Last February's economic stimulus package included a tax credit for first-time homebuyers who purchase a primary residence before Dec. 1. Eligible homebuyers can receive a break of up to $8,000 on their taxes so long as their gross adjusted income does not exceed $75,000 for singles or $150,000 for married couples.

Coincidentally or not, housing activity has rebounded since the introduction of the credit. Nationally, new home sales and existing home sales have recorded gains for four consecutive months.

The tax credit is scheduled to expire Nov. 30, although there is widespread speculation Congress will vote to extend the program into 2010.

David Kuiper, a mortgage planner at First Place Bank in Holland, Mich., says the credit has been a big spur to sales activity.

"The first-time buyer tax credit has had a huge impact on our local market," Kuiper says. "This month, over 80 percent of our purchase business was first-time buyers."

Weekly national mortgage survey

Results of Bankrate.com's Aug. 26, 2009, weekly national survey of large lenders and the effect on monthly payments for a $165,000 loan:
	30-year fixed	15-year fixed	5-year ARM
This week's rate:	5.53%	4.83%	4.95%
Change from last week:	+0.01	-0.01	+0.09
Monthly payment:	$939.96	$1,290.24	$880.72
Change from last week:	+$1.04	-$0.86	+$9.03

Mortgage consultant Jim Sahnger says the tax credit has been the "largest contributor" to renewed homebuyer interest in his South Florida market. The credit "has provided the additional financial incentives to get buyers off the fence," says Sahnger, who works for the Palm Beach Financial Network in Stuart, Fla.

Dan Green, a loan officer with Waterstone Mortgage in Cincinnati, says the buzz surrounding the tax credit has even piqued the interest of shoppers who earn too much to qualify for the break.

"It's similar to the Cash for Clunkers program -- just an awareness is enough to affect sales," says Green, who is also author of TheMortgageReports.com.

Brian Peart, president of Nexus Financial Group in Atlanta, agrees. "People do what other people do," he says. "If the perception is that everyone is out picking up bargains, more people will do it."

Secondary role

Others are more tempered in their assessment of the credit's impact. Jeff Lazerson says first-time homebuyer activity is "very heated" in Southern California. However, the president of Mortgage Grader in Laguna Niguel, Calif., flatly states the tax credit is "definitely not" the primary factor driving sales. Instead, sales are soaring because "prices are down some 50 percent for these starter homes, to 2002 price levels," he says.

Sue Woodard, business development consultant for Lakeland Mortgage in Minneapolis, also believes the tax credit's impact has been relatively modest so far. Many home shoppers remain either unaware of the credit or misinformed about how it works, she says.

"I don't think people understand clearly that this is a tax credit -- meaning dollars in their pocket," she says. "(It's) not a tax deduction. (It's a) totally different thing." The credit "just hasn't had enough time to work," but could become a bigger success over time if Congress extends it into 2010, she says.

Policy wish list

Mortgage professionals also are not shy about suggesting additional housing-related policy actions they'd like to see. Woodard and Kuiper hope the government puts the brakes on the Home Valuation Code of Conduct, which has changed the rules regarding how lenders are allowed to choose appraisers.

Realtors, mortgage brokers, home sellers and others have complained HVCC unnecessarily complicates the home appraisal process. They accuse it of scuttling untold numbers of potential sales. Woodard says HVCC has been "absolutely devastating" since it went into effect in May, and Kuiper says it's "done more harm than good."

A bill introduced in the House of Representatives would implement an 18-month moratorium on HVCC. "It will be coming before Congress in September and desperately needs to get passed," Woodard says.

Meanwhile, Lazerson says the government needs to take a more active role in securing a pathway to subprime lending. Although subprime loans are thought to be at the heart of the housing crisis, such lending "is not in and of itself predatory," he says.

A government effort to guarantee such loans or incentivize the private sector to fill the breach is good public policy, Lazerson says. "Where else can these folks turn?" he asks. "How can this country possibly absorb its housing vacancies otherwise? We don't want to go back to the olden days of knee-breaking loan sharks."

Sahnger says it's difficult to identify a single government program or policy that could act as "a magic bullet" and spark the housing market back to life. However, he would like to see the homebuyer tax credit extended and expanded so that all buyers -- first-time or not -- receive a $15,000 credit.

He also worries the fragile housing upturn now under way could falter if the government does not extend the first-time homebuyer tax credit and the Federal Reserve sticks to its pledge to stop buying up mortgage-backed securities at the end of the year. The latter $1.25 trillion campaign has been credited with driving long-term interest rates -- including mortgage rates -- lower.

"Should either of these two programs go away in 2010, I can see where housing sales and prices will fall further," he says.

Sean Wheelan
Personal Mortgage Consultant
The Mortgage Group, Ltd
401-965-9384 Cell
SWheelan@TMGLtd.biz Email
www.TheFriendlyNeighborhoodMortgageGuy.com Web Site
508-276-0171 Fax

Inc. Magazine names The Mortgage Group Ltd. to their 2009 Top 5000 list

Sean Wheelan (The Mortgage Group) — Tue, 25 Aug 2009 17:22:13 -0500

Inc. Magazine names

The Mortgage Group Ltd.

to their 2009 Top 5000 list

Fall River, MA—August 17, 2009--While many Massachusetts mortgage companies are closing their doors, The Mortgage Group Ltd. is growing at a pace recognized as extraordinary by Inc. Magazine. The company achieved the highest growth rate out of all the mortgage companies in Massachusetts. A mere two New England-based mortgage companies met the stringent requirements for the award, which highlights privately-held companies for their outstanding growth between 2005 and 2008.

The Mortgage Group Ltd., based in Fall River, MA, has offices in Massachusetts, Rhode Island, New Hampshire, and Vermont. This prestigious award proves that this provider of residential home loans for purchase and refinance is serious about assisting New England homeowners, no matter what it takes.

Don Lambert, CEO, and Division Manager (Warwick, RI branch), Sean Wheelan, see only opportunity in the climate created by the credit crisis and tightened banking regulations, bonding and compliance issues. Don and his team have created a new business model for the mortgage business.

Combining a teamwork culture that promotes tapping into the knowledge base of the group and utilizing the latest technology, Don Lambert created a system that truly supports his team of loan officers in doing what they do best-- assisting home owners.

Experience Makes The Difference

Sean Wheelan

Division Manager

401-965-9384 Cell

SWheelan@tmgltd.biz Email

www.myRImortgage.com Web Site

GOOD news for FHA!

Sean Wheelan (The Mortgage Group) — Tue, 25 Aug 2009 10:14:22 -0500

GOOD news for FHA!

FHA Won't Implement HVCC The Federal Housing Administration has no plans to implement the Home Valuation Code of Conduct, Commissioner David Stevens told a delegation from the National Association of Mortgage Brokers. NAMB's FHA chairman John Councilman, who attended the meeting, reported that Mr. Stevens said he was well aware of the problems originators have been having with the code, which only applies to loans sold to Fannie Mae and Freddie Mac. That being said, the commissioner added FHA is looking at alternatives it feels would insulate appraisers from pressure from originators. Mr. Stevens also told NAMB that plans for FHA to start risk-based pricing for mortgage insurance on Oct. 1 will not be implemented anytime soon. The meeting also clarified upcoming changes in the Real Estate Settlement Procedures Act as it applies to FHA. Mortgage brokers will no longer be allowed to charge discount points starting on Jan. 1, 2010. The 1% fee limitation has been removed, and there is no limit as long as the fees are customary to the market. Furthermore, all fees, including those that are charged by the lender, must be lumped into one sum. A yield-spread premium may be charged, but it must be disclosed on a separate line on the good- faith estimate. FHA reserves are higher than they have ever been, Mr. Stevens told NAMB. That being said, he would not rule out that the government would have to bail out FHA because those reserves are projections and those projections could be changed. Still the average credit score for the program has risen from 633 to 693, due to the elimination of what were termed "troublesome programs" such as seller-paid downpayment assistance and cash-out refinancings.

Sean Wheelan
Personal Mortgage Consultant
The Mortgage Group, Ltd
401-965-9384 Cell
SWheelan@TMGLtd.biz Email
www.TheFriendlyNeighborhoodMortgageGuy.com Web Site
508-276-0171 Fax

The HVCC can't stop me!!!

Sean Wheelan (The Mortgage Group) — Mon, 10 Aug 2009 15:09:47 -0500

I was still able to close a conventional loan, from P&S execution, to the closing table in 18 calendar days!!!

The true pros are creating teams and relationships that can make things happen! Join me in my 10th year as a Mortgage Originator. I'd love to earn your business as a client or referral partner!

Special thanks to Stacey Susi, the Realtor, she helped make everyone look good!

Sean Wheelan
Personal Mortgage Consultant
The Mortgage Group, Ltd
401-965-9384 Cell
SWheelan@TMGLtd.biz Email
www.TheFriendlyNeighborhoodMortgageGuy.com Web Site
508-276-0171 Fax

HVCC: What a scam!!!

Sean Wheelan (The Mortgage Group) — Thu, 14 May 2009 14:29:42 -0500

All in the name of protecting the borrower...

Apparently HVCC is a means for Appraisal Management Companies (A.M.C.'s) to gouge my valued clients.

We are doing mostly FHA purchase and streamline refis at this time, so I hadn't yet had the occasion to experience the HVCC appraisal ordering process. Boy was I in for a shock! Taylorbean has contracted with an AMC called Security One. I submitted my loan, locked the rate and went to order the appraisal via there on line system. When it came to the cost, my jaw hit the ground. My mortgage practice is located in an area where appraisals typically cost $325-$350 for single family homes. When I finished the order form, and $450 was the indicated price, I thought I had done something wrong. I started over 4 times, getting the same result before I contacted my A.E. I was doing it right. I then called Security One, to let them know I would not allow them to GOUGE my client, and that I would no longer do business with Taylorbean or any other lender they were associated with.

Are any other Mortgage Brokers finding similarly high prices with this new system? I hope this is isolated, but then again I don't as I'd like some more amunitiion to get rid of this assinine rule.

Thanks for your thoughts!

Sean Wheelan
Personal Mortgage Consultant
The Mortgage Group, Ltd
401-965-9384 Cell
SWheelan@TMGLtd.biz Email
www.TheFriendlyNeighborhoodMortgageGuy.com Web Site

FHA streamlines

Sean Wheelan (The Mortgage Group) — Thu, 23 Apr 2009 20:45:36 -0500

Its official-There's barely enough time to honor all the requests!

Do you have a FHA loan?
A credit score of 620 or better?
No mortgage lates in the last 12 months?
Are you employed?

If so, great! There is no appraisal required and no closing costs. How's that sound?

Call or email for a rate quote and lets see what we can do for you. Remeber, you must currently have a FHA loan.

All the best,

-Sean

Sean Wheelan
Personal Mortgage Consultant
The Mortgage Group, Ltd
401-965-9384 Cell
SWheelan@TMGLtd.biz Email
www.TheFriendlyNeighborhoodMortgageGuy.com Web Site
508-276-0171 Fax

Housing Stimulus (Or lack there of...)

Sean Wheelan (The Mortgage Group) — Thu, 19 Feb 2009 17:49:46 -0600

Housing Stimulus (Or lack there of...)

Housing was hoping to get a big boost from the latest addition to the mammoth stimulus bill working its way through Congress. Senate legislators unanimously approved a proposal earlier this month that would allow a tax credit for home buyers of 10 percent of the value of new or existing residences, up to a $15,000 limit. However, it did not make it in to the recent "stimulus package". Current law provides for a $7,500 tax break but only for first-time homebuyers. "It is time to fix housing first," said Sen. Johnny Isakson, R-G. Isakson's office said the proposal would cost the government an estimated $19 billion. In all, the stimulus reached a total of just under $800 billion. Proposals to move rates on real estate loans down to 4.0% did not carry in the Senate. (Thanks guys, I'd rather have pork anyhow!) Source: The Associated Press.

The U.S. House will vote on a bill to overhaul the Hope for Homeowners program, which by many accounts, has been a flop so far. Congress approved the program in July with the hope that it would aid 400,000 home owners. So far the program has attracted only 451 applicants and just 25 loans have closed. (That's 25! Out of how many millions of homeowners!!!) "HOPE for Homeowners, was designed to help families refinance into safer, more affordable loans, in many cases helping those families avoid a devastating foreclosure," says NAR President Charles McMillan. "Despite being well-intentioned, the HOPE for Homeowners program has had limited success. Lenders have found the program difficult to participate in because of many of the program's constraints." The proposed revision to the program will lower participation standards, cut costs for consumers and reduce the cost of implementation for lenders. The proposed reform will also provide a safe harbor for loan servicers that modify loans and make permanent the increase in deposit insurance to 250,000. Source: Reuters News

So what can we conclude? Politicians like to grand stand and reporters like a good scoop (whether its the truth or not)! It is generally agreed upon that the housing market is exceedingly important to our economy and consumer sentiment, however, the powers that be have (to date) essentially ignored it. The proposals so far, when projected out in to the future, would appear to do more damage than good...

My $.2: Increase the tax credit to $15,000, do not require it to be paid back over 15 years as is currently is required, pressure Fannie and Freddy to slightly loosen underwriting guidelines for well qualified buyers and investors, and to get rid of their Loan Level Price Adjustments (which increase rates significantly when greater than 70% of a home's value is borrowed and the credit score is under 740), and most importantly find a way to keep rates around 5% or lower for as long as is needed!!!

PS: FHA is still doing a great job approving folks with verifiable income and credit over 620. USDA still allows for 100% purchase financing in the less populated areas and for low to moderate income families. For us RhodeIslanders, most of the western part of the state meets that guideline. For more info please visit www.myRImortgage.com

Sean Wheelan
Personal Mortgage Consultant
The Mortgage Group, Ltd
401-965-9384 Cell
SWheelan@TMGLtd.biz Email
www.myRImortgage.com Web Site
508-276-0171 Fax

Have a great day!

PS: While my business is good and growing steadily, it is important for you to know that I am NEVER too busy to help those you refer to me: your family, friends, neighbors, and coworkers.

Understanding the loan documents

Sean Wheelan (The Mortgage Group) — Mon, 19 Jan 2009 17:04:00 -0600

Understanding the loan documents:

Residential Loan Application: This document (when complete) gives us an accurate picture of your whole financial situation. By signing this form you are stating what you know to be true regarding all pertinent information regarding your financial status.

Good Faith Estimate: This document breaks down the costs of obtaining the mortgage, the required pre-paid items, and the required amounts to be deposited in the escrow account. When comparing costs between lenders it is always best to compare interest rate and closing costs (not including escrow and pre-paid items) to get a more accurate picture of the lender's program.

Truth In Lending: This is a Federal form that was created for the consumer to help them better understand the effective rate of borrowing money with closing costs included (A.P.R) and the amount of interest paid over the life of the loan. This document also sets forth any special clauses like whether the loan has a pre-payment penalty or if the mortgage is an assumable mortgage.

Servicing Disclosure Statement: This document explains that we are a broker not a bank. Most banks will service their loans that includes taking your monthly payments, handling your escrow account, and answering your specific loan related questions after your loan has closed. Up until your loan closes we will be your point of reference for any loan related questions. After the loan closes however, we transfer all the rights to your loan to the specific lender we chose for you. From this point on you may contact your lender directly. We transfer 100% of the servicing to the specific lender we approve you with, but please remember if you have any problems with your loan and the lender is not handling it to your standards, feel free to contact us and we will intercede for you.

Borrower Signature Authorization: This gives us your permission to verify the information you've given us with your mortgage lender(s), employer(s), creditor(s), landlord(s), bank(s), and any other source we may need to obtain information from. In other words, this is your written consent that we send to let them know you (their customer) is the person ultimately requesting they respond.

Mortgage Loan Origination Agreement: In some circumstances the lender may offer the opportunity for the customer to pay less up front costs in trade for a slightly higher interest rate. However, this program may not always be available. By paying points or origination fees you may obtain a lower interest rate and save more money over time. Please request more information from your loan officer to determine what type of interest rate and closing cost scenario would best suit your needs.

Right to Receive a Copy of Appraisal: Every borrower has the right to receive a copy of his/her appraisal once it has been completed and paid for.

Equal Credit Opportunity Act: This document discloses the fact that we do not discriminate against borrowers based on race, color, religion, national origin, sex, marital status, age, or for any other matter.

Request for Copy of Transcript of Tax Form (4506): This form allows the lender to get a copy of the taxes you filed with the Federal Government and compare them with the copy of taxes we've submitted to them for quality control purposes. This form is typically only required for self-employed borrowers or customers who are paid on commission.

Rate Commitment Option: This form explains our rate lock policy and confirms our conversation with you at the time of application.

Many states also have unique disclosures. For example, my home state of RI has 5 state specific disclosures. Their intent is to make sure transactions have a tangible net benefit, borrowers are educated, they do not participate in "flipping" and that they understand what a "high cost" and sub prime loan consists of.

PREDICTIONS FOR 2009 - DRIVE THE CAR ANOTHER YEAR AND STAY OUT OF THE MALL.

Sean Wheelan (The Mortgage Group) — Fri, 09 Jan 2009 05:24:23 -0600

Lots of good points, and I begrudgingly agree with the blogger on most counts. In my area (southern New England) we are seeing bidding wars on some properties which gives me some hope! To be fair though, it is on the REO's that are in good condition and freshly on the market. Many bank owned properties are about to enter year 2 on the market, making it increasingly difficult to move them. This has caused a certain segment to get out and grab their home at a good value, but for those homes with a lengthier time on the market, it only hurts the bigger picture.

If you are looking to buy a home be prepared to make your offer at list price (you will still be getting a good deal). The good ones are moving quickly. If you are looking to refinance, A bird in hand (5%) is worth 2 in the bush (4.5%). Market speculating simply does not work. If it makes sense to refinance or buy a home TODAY, do it today and you'll be happier tomorrow!!!

All and all, we have some positive blips, but 2009 will be another very challenging year. I'm up for the challenge, how 'bout you?!

Yours in successful decision making,
-Sean
The Friendly NeighborhoodMortgage Guy
401-965-9384

Via Lenn Harley Homefinders.com MD & VA Real Estate:

                              * * * *   DANGER! HARD CORE REAL ESTATE TALK AHEAD * * * *

PREDICTIONS FOR THE REAL ESTATE INDUSTRY IN 2008

                                             * * * * DANGER! HARD CORE REAL ESTATE TALK AHEAD. * ** *

REAL ESTATE IN 2009 WILL BE . . . . . ?

It appears that we've seen fewer year end predictions for the coming year, 2009, it's understandable since:

The economy is like a moving target.

Many predictions are more like a wish list.

The government is rearranging the deck chairs and a few passengers are going to go overboard.

Inspired by Jim Crawford who asks 10 questions about our predictions for 2008, this writing continues this series to have a comparative look-back for January 2010. Of course, the below are my thoughts and although I haven't been able to shake the negative predictions from a year ago, I realize that the economy and our business must be given the attention that it will take to survive and profit by concentrating on what is working and focusing on where the real estate business is.

1. Mortgage Rates Lower or Higher?   Higher. Eventually, inflation will have to cause a reduction in the money supply and cause rates to go up for everything.  With the mortgage mess and the concomitant losses by our foreign investors, sovereign wealth funds, etc., unless the government stops printing money, rates will have to go up. Now that worldwide investors have learned what happened to their money, they will be loathe to invest in U.S instruments and particularly any type of mortgage backed security.

2. Credit Loosen or Tighten? See #1.

3. Numbers of Agents in Your Market Up or Down? Down!!!    Let me say it again -Down!!! The condition of the real estate market is no longer a secret although the NAR has tried to keep it so. While prospective new agents don't understand the business of real estate, they do hear the news and since the condition of the real estate industry is now on YouTube, FaceBook and the family next door was foreclosed. The growth of Buyers Agents will continue.

4. Real Estate Inventory Levels in Your Market Increase, or Decrease? Increase. I've seen them increase for the past 4 years and until the economy begins to grow again, what would cause foreclosures and short sales to decrease? I do expect foreclosures and short sales to begin to be a larger percentage of the overall inventory in areas where they have just begin to grow. Resetting 3-5 year ARMs and negative equity will cause more foreclosures.

5. Better Real Estate Market or Worse? Worse.
Overall slowing of the economy, higher unemployment, higher taxes, more restrictive and expensive mortgage financing will worsen the real estate industry in 2009. Slower auto sales will impact many segments of the economy causing middle class home buyers to stay where they are.

6. Buyer's Market or Seller's Market?   Buyer's Market.
By the classical definition, "more sellers than buyers", we have a buyer's market. This will make pricing increasingly harder as comparative sales become harder to find. Home owners with negative equity will not be able to sell NOTE: There is some movement on the bankruptcy code, but that will help only a small percentage of home owners.

7. More Foreclosures or Less? More.
As ARM mortgage instruments reset and payments increase beyond many home owners' ability to pay, natural relocations for employment and inability to sell for what is owed will send more homes to the foreclosure market.

8. Homes Sales Prices Flat, Rise, or Fall? Fall.
Foreclosure sales, short sales, relocation sales and other market forces will force prices down. As unemployment continues to grow, the median incomes will qualify fewer buyers.

9. Condo Sales Prices Flat, Rise, or Fall? Free Fall!!!
As the price of town homes and single family detached homes fall, condominium homes will return to their historical position as the "last resort home" available for lower price buyers. Defaults on condo fees will cause higher overall condo fees and disqualify many prospective condo purchasers.

10. Commercial Real Estate Stay Strong or Start to Soften? Continue to Soften.
General slow down in the overall economy will cause a retraction in commercial real estate investment. Commercial real estate is sensitive to the world economy. That's already happened and continues. Shopping centers have increased vacancies, retailers are consolidating locations and closing shops. About the only REITs that might show a profit are those that invest in medical and health facilities.

What Will Be Will Be.

Courtesy Lenn Harley, Broker, Homefinders.com, 800-711-7988.

FaceBook Blogs are here!

Sean Wheelan (The Mortgage Group) — Sun, 04 Jan 2009 08:45:35 -0600

I have recently taken some good information found right here on A.R., and put it to use!

In today's challenging market we need every tool available. I have recently gotten some very good results from my FaceBook page. My concentration has always bent towards deepening relationships both new and old via my facebook account. My "friends", for example, consist almost 75%, of people I've known for 20 years or more. I use other sites like, LinkedIn for my professional associations. From time to time, however, I insert a business related status update or industry comment. This has yielded 7 inquiry calls and 3 applications over the last 3 weeks, one of which is scheduled to close in 2 weeks. All of the activity was from old friends who I've known for 2 decades or more.

In a nutshell, over a very short period of time, I've built a small personal network that is beginning to pay dividends by rekindling old friendships via a convenient permission based interface. This is a low impact way to market myself, with the primary goal of "friends first". The trust is there, I just want to subtly remind them I'm one of the most trusted and reputable Mortgage Consultants in the area.

I just launched my FaceBook Blog to enhance my presence in the FaceBook community. Please click on it: Sean's FaceBook Blog and help to verify me as an author. Thanks in advance as I need 11 readers to verify me as the author!

The next phase is to launch a Community Page (RI Real Estate Financing, Neighborhood News and Real Estate Group), so that I can facilitate my friend's ability to network and highlight their skills within our combined networks. All things being equal, wouldn't it be great if you could support your friends by supporting their businesses? I hope to facilitate that via communities both on line and off!

Happy New Year!

PS: While my business is good and growing steadily, it is important for you to know that I am NEVER too busy to help those you refer to me: your family, friends, neighbors, and coworkers.

Sean Wheelan
Personal Mortgage Consultant
The Mortgage Group, Ltd
401-965-9384 Cell
SWheelan@TMGLtd.biz Email
www.TheFriendlyNeighborhoodMortgageGuy.com Web Site
508-276-0171 Fax

Use a 6 month gift from a relative to buy a home, thanks to the Tax Credit

Sean Wheelan (The Mortgage Group) — Sat, 03 Jan 2009 21:42:04 -0600

Via Jeff Belonger -- The FHA Expert.com -- FHA Loans -- FHA mortgages - USDA loans (Infinity Home Mortgage Company, Inc):

The government is handing out money as a long term loan. Take advantage of this!!!

The Housing and Economic Recovery Act of 2008 produced the tax credit for First Time Homebuyers. In this case, to be eligible for the tax credit, a first time homebuyer is defined as : someone who had not owned a home from July 2, 2005, through July 1, 2008. In order to become eligible, you have to buy your home after April 8, 2008, and before July 1, 2009. I will go over some of the other guidelines later.

When it comes to buying a home, you can't borrower money to use as a down payment or for closing costs. And you can get county or state assistance under certain programs or grants, to use for your new home purchase. But when it comes to FHA loans, you can actually get 100% gift monies from a relative. It's called a gift because HUD doesn't want the burden of you having to pay back a loan after buying a new home. Hence why this tax credit is still a great way to help you get into a new home prior to July 1, 2009. And you can still get up to 6% seller help even if you were to get a 100% gift from a family member.

So, how does this tax credit work? Please read below for some details :

The maximum tax credit is $7,500 for either a single taxpayer or a married couple filing jointly. It is 10% of the purchase price. So in order to get the maximum credit, the purchase price must be $75,000 or more.

This credit is an interest free loan and the credit must be repaid over a 15 year period. This loan must be paid back by including one-fifteenth of the amount credited, or $500, as an additional tax on their 2010 return.

There are income restrictions which can range from $150,000 to $170,000 for a joint return or from $75,000 to $95,000 for a single return. There are other factors involved when determining the actual income restrictions.

This credit can't be used if you are buying a home from a close relative, which is to include a spouse, a grandparent, child, or even a grandchild.

You can only use this tax credit for your primary home, not for a second home or an investment property.

There are some other restrictions, examples, and explanations to how this tax credit can work. For more information, please read : Tax Credit for First Time Homebuyers

An example of how this tax credit could work :

If you were to receive a $2,000 refund when filing your return, and you were eligible for an additional $7,500 if you choose to receive this credit, this means that your refund will now be $9,500 instead. On the flip side of things, if you were to owe $2,000, you would actually get back $5,500 instead of owing money.

One thing to keep in mind.... you can use this money for anything. How could you use this money?

You could use it to repay other loans or debts.

To invest in the market or CD's.

To buy another property such as an investment property. But you would need to understand the seasoning requirements when putting this kind of money into your bank account.

Use the money to fix up your new home that you just bought.

To start a business.... to help a business grow.

And as mentioned, FHA loans allow for 100% gift monies from a relative. Maybe you could thank them later on and give them the money back down the road. I know I wouldn't want this hanging over my head. As of January 1st, 2009, when buying a home with a FHA mortgage, you now need 3 1/2 percent down of your own money (gift monies allowed).

Lastly, talk to your tax accountant when it comes to the specifics of this tax credit and in regards to gifts and what is allowed before being taxed.

Happy house hunting. For a creative way to help you finance your new home, please don't hesitate to contact me. There are so many options out there and you need a creative loan officer that knows more than just the basics.

- FHA Loans - USDA Loans - Conventional Loans - VA Loans -

Experience & Knowledge at its BEST !!!

________________________________________________________________________________________

For more information on FHA loans, please go to this link. : The FHA Expert

For more information on how you can obtain your dream home, please click here : Mortgage Financing Options

For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags

Copyright © 2008 by Jeff Belonger

2009 FHA Loan Limits

Sean Wheelan (The Mortgage Group) — Mon, 17 Nov 2008 17:28:34 -0600

The details below outline the new 2009 FHA loan amounts for RI as well as transition dates for the temporary FHA Jumbo Loan program.

2009 FHA Loan Limits

Effective November 14, 2008, FHA loan limits are calculated at 115% of the area median sales price. For 1-unit, the FHA floor remains at $471,050 and the ceiling is now calculated at 150% of the conventional floor, or $625,500.

FHA Mortgage Limits List

MSA Name	MSA Code	Division	County Name	County Code	State	One-Family	Two-Family	Three-Family	Four-Family	Last Revised	Limit Year
PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA (MSA)	39300		BRISTOL	001	RI	$475,000	$608,100	$735,050	$913,450	03/05/2008	CY2008
PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA (MSA)	39300		KENT	003	RI	$475,000	$608,100	$735,050	$913,450	03/05/2008	CY2008
PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA (MSA)	39300		NEWPORT	005	RI	$475,000	$608,100	$735,050	$913,450	03/05/2008	CY2008
PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA (MSA)	39300		PROVIDENCE	007	RI	$475,000	$608,100	$735,050	$913,450	03/05/2008	CY2008
PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA (MSA)	39300		WASHINGTON	009	RI	$475,000	$608,100	$735,050	$913,450	03/05/2008	CY2008

To determine the maximum loan amount for a given property, go to

https://entp.hud.gov/idapp/html/hicostlook.cfm to search by state and county.

Sean Wheelan

Personal Mortgage Consultant

The Mortgage Group, Ltd

401-965-9384 Cell

SWheelan@TMGLtd.biz Email

www.TheFriendlyNeighborhoodMortgageGuy.com Web Site

508-276-0171 Fax

Get a Mortgage Tune-Up

Sean Wheelan (The Mortgage Group) — Thu, 13 Nov 2008 12:48:05 -0600

Give your MORTGAGE and CREDIT REPORT an annual once over.

If the last time you looked at your mortgage was when you closed on your loan, it’s time to take it out for an annual once over. New loan programs and opportunities to leverage your home equity can bring you lower mortgage payments and new investment opportunities.

_{Tax season is rapidly approaching, the time is right to review your overall financial picture. Your mortgage is a pivotal piece and should be viewed as a financial instrument that can help or hinder your goals. What role is your mortgage palying?}

For a FREE no obligation consultation, contact me and set up an appointment today!

Read on...

Is a fixed rate mortgage the best choice for you?

Many of us opt for the certainty of a 20 year or 30 year fixed rate mortgage when we get our first mortgage. If you anticipate selling your home within the next 10 years, an intermediate ARM loan may be a better financial fit for you. These loans typically have a lower fixed rate than a traditional 20 or 30 year mortgage.The savings you receive can well be worth the switch and the rate can be fixed for as long as 7 or 10 years with NO prepayment penalty.

Are you paying for Private Mortgage Insurance (PMI)?

There are loan programs available that can help you eliminate PMI, even if you have less than 20% equity in your home. The monthly savings adds up quickly. This money can be put to better use to help you achieve other short-term and long-term financial goals.

Are your taxes and insurance up to date?

Even though your mortgage servicer is responsible for paying your taxes and insurance out of your escrow account, it just makes sense to periodically check to see that these payments are being made properly. While you’re at it, you’ll want to review your homeowner’s insurance policy. It’s a good idea to review your policy atleast every two years (though I recomend yearly) to make sure it covers recent home improvements, replacement costs for the contents of your home, and that its reconstruction coverage is keeping pace with inflation.

Do you have a Home Equity Line of Credit (HELOC) for emergencies?

Many homeowners are making the proactive choice to secure a Home Equity Line of Credit (HELOC) for emergencies. A HELOC is a revolving line of credit that only charges interest when you actually draw money from the line of credit. As you repay the balance of the draw, the credit becomes available again. Securing a HELOC in advance can be a great help if you’re ever laid off or have an unexpected medical or other emergency. They are typically based on the prime rate and adjust accordingly, or they can be fixed for a slightly higher rate. They can be a useful tool.

How’s your credit report?

The information in your credit report has a huge impact on whether or not you will again qualify for a mortgage loan. That’s why it’s important to periodically check your credit report.

Now it’s even easy to do so. A recent amendment to the federal Fair Credit Reporting Act (FCRA) mandates that each credit reporting company provide you with a free copy of your credit report, at your request, once a year. To request your free credit report, visit http://www.annualcreditreport.com. (Free reports are being phased in over a nine-month period, rolling from the west coast to the east beginning December 1, 2004. As of September 1, 2005, free reports are accessible to all consumers.)

Is it time to refinance?

The timing might be right to refinance your mortgage loan. New rates may help you significantly lower your monthly payment. Or you might want to “cash out” some of the built-up equity in your home, which you can use to consolidate debt, improve your home, take a vacation - whatever! Perhaps by refinancing you can even pay off your mortgage sooner!

We'll work with you to determine if the timing is right to change your loan program, considering your cash on hand, how likely you are to sell your home in the near future, and what effect refinancing or other strategies might have on your future plans.

Any plan involving your home, requires great attention to detail. I work with a team that includes respected CPA's, CFP's and Financial Advisors. Let me be your first source for Mortgage Planning.

Sean Wheelan

Personal Mortgage Consultant

The Mortgage Group, Ltd

401-965-9384 Cell

SWheelan@TMGLtd.biz Email

www.TheFriendlyNeighborhoodMortgageGuy.com Web Site

508-276-0171 Fax

Foreclosures, Preforeclosures, Sheriff Sales, FSBO's and Deals!!!

Sean Wheelan (The Mortgage Group) — Thu, 13 Nov 2008 05:35:32 -0600

Foreclosures, Preforeclosures, Sheriff Sales, FSBO's and Deals!!!

Today's Real Estate Market offers many unique buying opportunities. It's important that as a potential buyer, you explore all of your options. The best way to do this is by working with an EXPERT. You can find all of the above on my site: Foreclosure Listings You can also find links too many local experts here: Great Local Resources!!!

When looking for the perfect property the most important piece is working with a dedicated Realtor. I'd love to make that referral to you. As a 3rd generation Rhode Islander, and a Personal Mortgage Consultant for 9 years, I can make great referrals in every community in RI and the surrounding communities in the bordering states. I am an avid networker and very active in several of RI's chambers of commerce. I feel very qualified to make this kind of referral. No matter what community you are targeting for your new home, I can help!

I highlight that I bring a TEAM to serve my current and future clients. Let me prove how good they are!!!

Have a great day!

The highest compliment I can receive is a referral from a friend or client.

Sean Wheelan

Personal Mortgage Consultant

The Mortgage Group, Ltd

401-965-9384 Cell

SWheelan@TMGLtd.biz Email

www.TheFriendlyNeighborhoodMortgageGuy.com Web Site

508-276-0171 Fax

PS: While my business is good and growing steadily, it is important for you to know that I am NEVER too busy to help those you refer to me: your family, friends, neighbors, and coworkers.

Mortgage INdustry Info is HERE!

Sean Wheelan (The Mortgage Group) — Tue, 04 Nov 2008 13:02:45 -0600

If you've got questions, I've got answers!

I have the qualifications and the desire to help you achieve your home financing goals. If you have any questions just click REQUEST FOR INDUSTRY INFO. There you will find virtually every possible category surrounding the mortgage industry.

Better yet, schedule an appointment for a Mortgage Plan Review and I'll pass a long a FREE 50 minute Tax Planning Consultation with one of the area's premier CPA's!!!

Let THE FRIENDLY NEIGHBORHOOD MORTGAGE GUY go to work for YOU! In a climate where guidelines change on an almost daily basis, and the liquidity crisis continues, a PERSONAL MORTGAGE CONSULTANT is a MUST!

Sean Wheelan
Personal Mortgage Consultant
The Mortgage Group, Ltd
Phone: (401)965-9384
Fax 508-276-0171
SWheelan@TMGLtd.biz
www.TheFriendlyNeighborhoodMortgageGuy.com

A dedicated broker is an ABSOLUTE NECESSITY!

Sean Wheelan (The Mortgage Group) — Sat, 01 Nov 2008 07:15:33 -0500

A dedicated broker is an ABSOLUTE NECESSITY in today's banking climate. The liquidity crisis is still rippling across our country and the term "declining market" is almost a household name. Normal economic markers don't enable the experts to predict rates as they once did, and the world's economy now affects us in ways we never thought possible. A tenured PRO that can guide you through these uncertain lending times and help you avoid the potential pitfalls is what you need.

I'd like to be that PRO, I know I have the qualifications and the desire to help you achieve your home financing goals. If you have any questions just click REQUEST FOR INDUSTRY INFO. There you will find virtually every possible category surrounding the mortgage industry.

Sean Wheelan
Personal Mortgage Consultant
The Mortgage Group, Ltd
Phone: (401)965-9384
Fax 508-276-0171
SWheelan@TMGLtd.biz
www.TheFriendlyNeighborhoodMortgageGuy.com

EXCLUSIVE LEADS REFERRAL Group

Sean Wheelan (The Mortgage Group) — Thu, 23 Oct 2008 15:14:38 -0500

If you would like to be part of a network at a more formal level, we have formed an EXCLUSIVE LEADS REFERRAL group within the non-profit organization called LiveWire. Call or email me, or even visit the web site: LiveWire. I have formed the 2nd chapter of this fine organization. We have secured people for the CPA, Marketing, Residential Realtor, Real Estate Attorney, and of course Mortgage Consulltant spots. We have people actively interviewing for the the Printing and Promotional Products, Pay Roll and HR Services, Home Improvements, Insurance and Financial Advisor, Book Keeping, Business Coaching and Commercial Real Estate positions. We'd love more interest from Appraisers, Estate Planning Attorneys, Litigating Attorneys, General Contractors, Chiropractors, Photographers and any of the previously mentioned professions. The goal is too have a VIBRANT referral group with the best professional representation possible from across RI in as many unique professions as possible. I'd love to hear from you!

PS: This is not BNI. It is similar, but in my humble opinion, a better model. We operate as a non-profit with no corporate or franchise dues! Contact me and find out more!

PPS: With only a handful of dedicated members, we've already referred almost $30,000 in business!!!

www.TheFriendlyNeighborhoodMortgageGuy.com

ASK A PRO!

FHA Loans - FHA Mortgages are not a bad mortgage !!!!!

Sean Wheelan (The Mortgage Group) — Fri, 17 Oct 2008 15:16:38 -0500

Sean Wheelan

Personal Mortgage Consultant

The Mortgage Group, Ltd

401-965-9384 Cell

SWheelan@TMGLtd.biz Email

www.TheFriendlyNeighborhoodMortgageGuy.com Web Site

Via Jeff Belonger -- The FHA Expert.com -- FHA Loans -- FHA mortgages -- Mortgages :

We have been in a doom and gloom housing market for the last 6 months to a year. Largely due to the part of the media and uneducated loan officers and realtors. Let me tell you something, there is still plenty of mortgage money to lend.

The problem is that you have some lenders that don't know anything other than conventional mortgages. Or they aren't FHA approved to do FHA Loans. And not to knock realtors, but there are many realtors that have been in this business for 20 years or so, that keep relating to FHA mortgages of the past. Yes, they were sometimes harder on appraisal repairs, but that was prior to 2001. Since then, HUD did away with the VC sheet. Only those items harmful to the borrower, must be repaired only if noted by the appraiser. The reason I bring this up is because I just spoke to a loan officer in Maryland that told me that he met 2 realtors that have been in real estate for 25 years, who told him that they don't like FHA mortgages. The funny thing is that they haven't had a buyer or seller do a FHA loan in 10 years. Hence why I want to give a quick education on FHA loans right now.

FHA loans & FHA mortgages - The basic principals and myths...

FHA mortgages have a one-time mortgage insurance premium, known as upfront mortgage insurance, that makes the loan more expensive. MYTH And some realtors still think it's 3.00 percent. Again, that was the 90's. As of 10/1/08, it's 1.75% of the base loan amount. And no, it's not that expensive. Example : On a $250,000 loan amount, it's about $30 a month added to the payment. And keep in mind, that is with 2.25% down. If you put 3% down on a conventional loan, just the payment alone would be $65 or more higher based on that same loan amount. And that is not including any pricing hits on the rate for credit scores under 720.

The monthly mortgage insurance on a FHA loan is very expensive. MYTH This is called annual mortgage insurance or MMI (monthly mortgage insurance. No matter how much you put down, it's either .55 percent or .50 percent of your base loan amount. Comparing this to a conventional mortgage, you need to put down at least 10% in order to get to .52 percent. And again, you will still have to worry about credit scores being an issue.

FHA loans overall are just hard to qualify for. MYTH Conventional loans are much harder to qualify for now, even with 10% down in some cases. If a conventional loan is not approved in the system, through DO/LP/ or DO, then it's a dead deal. I can still do manual underwrite loans down to a credit score of 500. Most lenders can't go below a 580. It all comes down to a loan officer that truly understands on how credit works and how to qualify on income.

FHA Cash out loans to 95% of the appraised value. FHA jumbo cash outs to 85% LTV.

Non occupant co borrowers on both purchases or refinances. A non occupying co borrower has to be a relative though. And you can't use the better credit score or the credit of the co-borrower. Their credit is still a factor though. The primary concept here is to use their income to help you qualify.

Bankruptcies - A Chapter 13 needs to be 1 year old and a Chapter 7 needs to be 2 years old. On conventional loans, it's 4 years old.

Overall, these are just some of the basics. In many cases, FHA loans are the way to go, no matter what the nay sayer says. Yes, mortgage money is still out there. Lenders are still making loans and lending money. Those that are usually having trouble after they told you, the borrower yes, are those that really don't know what they are doing. They were just trying to get a deal in the doors and in many cases, hoping that it sticks on the wall. The real professional doesn't have time to hope, but a real professional loan officer knows it will work, because of their expertise and knowledge.

- FHA Loans - Conventional Loans - VA Loans -

Experience & Knowledge at its BEST !!!

____________________________________________________________________________________

For more information on FHA loans, please go to this link. The FHA Expert

For more information on how you can obtain your dream home, please click here : Mortgage Financing Options

For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags !!!!!

Copyright © 2008 by Jeff Belonger

Yoiu missed it! Friday Morning Conversations

Sean Wheelan (The Mortgage Group) — Fri, 17 Oct 2008 14:53:44 -0500

Every Friday morning a diverse group of professionals meets for breakfast at the Residence Inn on Kilvert St in Warwick. The group is open to all comers. There have been hundreds of individuals that have visited the group over the years. Some come every week, some once or twice each month and some just a few times per year. There are even folks that join the group to find their next job. The regulars are well networked, and often have the perfect contact for those currently unecumbered by employment.

The group has been a great source for me, and has helped me lauch some joint ventures, new associations and launch some friendships! Friday Morning Conversataions is a great way to start your Friday and make some new contacts.

Here's a brief description followed by directions:

The Friday Morning Conversation group is a networking group that meets at the Residence Inn on Kilvert Street in Warwick, just off Jefferson Boulevard. Meeting starts at 7:45 AM, and tries to end by 9 AM. Everyone pays for his or her own meal at ten dollars for the serve yourself breakfast buffet.

Directions are to take Exit 13 off route 95 towards Route 1/ TF Green Airport, also called the airport connector. Stay to the right so that you can take the Jefferson Boulevard Exit. You will be turning left underneath the airport connector.

At the second red light, Honey Dew Donuts is on the right, and the Thai Excursion with Jefferson Pub is at the left. Turn Left onto Kilvert Street. Continue west for 6/10 of a mile, past Wolverine Joining Technologies that sits at the bend in Kilvert Street. At the stop sign, the Residence Inn sits on your left, and Beacon Mutual Insurance is directly ahead of you in the cul-de-sac. Please go around to the side to park. This will free up the front parking for guests that are registering or departing.

Feel free to join us for breakfast and conversation!

Sean Wheelan

Personal Mortgage Consultant

The Mortgage Group, Ltd

401-965-9384 Cell

SWheelan@TMGLtd.biz Email

www.TheFriendlyNeighborhoodMortgageGuy.com Web Site

A Story With A Lesson...or 2.

Sean Wheelan (The Mortgage Group) — Thu, 16 Oct 2008 08:31:46 -0500

And a networking opportunity if you read all the way to the bottom of the page...

My friend Jim Ganung sends out a story every week (usually containing a small life lesson) and I'm reposting it here today. He's a very successful and tenured consultant who has created a casual networking breakfast group that meets every Friday. More on that later...for now take a sip of your coffee or customary morning beverage, and make some time for a short read.

"Hello Everyone, 10/18/08

Today’s message is “Wagon on a Mill Rooftop,” and deals with a water powered cider mill, a horse drawn wagon and a group of mischievous young boys early in the 1900s in Moreland, New York.

My Father was one of five boys born in the 1920s. By 1930, the Great Depression was in full swing and people worked as many jobs as they could to survive. This was in the days before the Federal Government had started to step in with many programs to help revitalize the country. My Grandfather, Walter Ganung, had a small general farm, and owned a livery stable in Watkins Glen. He was also the Town of Dix Highway Superintendent. Each weekday, he would leave his farm to his hired man to run while he attended to his other jobs. About a mile north of the farm, up the Johnson Hollow Road was a small water-powered mill, which he passed going to Watkins Glen and returning to the farm.

It was not uncommon to see these small mills in operation in the 1930s. These were two story affairs, with the water running under the large waterwheel, not over the top. The mill was most productive in the spring and fall with the more continuous flow of water. A cantankerous fellow named Mr. Millspaugh ran this particular mill. What an appropriate name for a mill owner! This was a slow methodical operation and the water came from a small raceway at the back of the mill that diverted water from a nearby creek. This fed a small pond that was used as a reservoir to help ensure there was a steady flow of water when the mill had enough work.

The five ‘Ganung Boys,’ which is how they were known their entire lies, were born in two or three year increments. John came first, then Roger (my Father), Frank, Robert and Carl was the youngest. There were other groups of teenagers and adventurous young boys in the neighborhood. Almost all of them had horses or ponies first, later followed by bicycles. I am sure they took advantage of the bins of apples that were stored outside the mill as they roamed back and for the between the farms. If they did misappropriate an apple occasionally, I am sure Mr. Millspaugh would have scolded them.

One particular Halloween night, they found a way to play a prank on the miller.

He had a small horse drawn wooden wagon that he kept next to the mill. It was his main method of transport, except for the horse, which he could also ride. This particular Halloween, it was quite dark. When he awoke the next morning, he could not find his wagon! He looked in back of the mill, and searched in a nearby grove of trees to see if some scalawag had hidden it there. By the time my Grandfather was going by the mill on his way to the livery stable in Watkins Glen, the miller was in high agitation.

“Walter Ganung,” he exclaimed. “I can’t prove it but I know the ‘Ganung Boys’ were involved in the theft of my wagon!”

Now, my Grandfather had the experience of having to deal with many occasionally angry people. He also had an advantage over the miller. As he had been driving up the dirt road towards the mill, he had noticed a peculiar thing. When the miller continued to rant and rave, he remained calm. After the verbal storm had passed, he said to Mr. Millspaugh, “If I can find your wagon and get it returned to you, will you be happy?”

“Yes, of course,” the miller immediately replied.

“Well, look up at your roof. There it is,” pointed out my Grandfather.

And so it was. During the night, the group of healthy, strong boys had taken apart the wooden wagon. They had handed it piece by piece up to their confederates in crime on the rooftop. There the same wooden wagon was reassembled, and now straddled the peak of the roof! Mr. Millspaugh was dumbstruck at the sight!

My Grandfather turned around and went back to the farm, where he gathered all his sons. He said, “I don’t care who did it. I just want you ‘Ganung Boys’ to get your friends together and take that wagon apart and get it back on the ground.”

About 60 years later, when our family gathered at my Mother and Father’s Fiftieth Wedding Anniversary, I was standing next to my cousin, Dave Jacobs, who was filming the event. My Father was standing next to my Uncle Frank. “So,” I asked, “Tell me the story about the wooden wagon up on the roof top of the cider mill.”

“We didn’t do it!” exclaimed my Father. Then, he and Frank exchanged secretive smiles. Of course had this happened today, the 'Ganung Boys' would probably have been labeled juvenile delinquents.

So, I leave you with two thoughts today. The first is that in the hurry and rush of events, it is good to take time for some enjoyment. The hard time will pass, and the memories the good times remain.

The second is that a viewpoint from a farther distance can find a solution that is not immediately apparent to the person deeply involved in a situation. Just as my Grandfather could see the wagon up on the roof as he approached the cider mill, he could see things more clearly from a distance. The miller was so focused on looking on the ground, where a wooden wagon should be, that he did not stop to pick his head up and expand his view.

So should you. Take a step back, pick your head up, look at a larger vision and enjoy the view. You can find your own solution with a new perspective."

I’ll be there on Friday for Friday AM Conversation.

Jim Ganung
President,
J.R.G.- Controller, Inc.
Phone 401-741-3291
Website: “www.OnTheGoCFO.com”

The Friday Morning Conversation group is a networking group that meets at the Residence Inn on Kilvert Street in Warwick, just off Jefferson Boulevard. Meeting starts at 7:45 AM, and tries to end by 9 AM. Everyone pays for his or her own meal at ten dollars for the serve yourself breakfast buffet.

Directions are to take Exit 13 off route 95 towards Route 1/ TF Green Airport, also called “the airport connector.” Stay to the right so that you can take the Jefferson Boulevard Exit. You will be turning left underneath the airport connector.

At the second red light, Honey Dew Donuts is on the right, and the Thai Excursion with Jefferson Pub is at the left. Turn Left onto Kilvert Street. Continue west for 6/10 of a mile, past Wolverine Joining Technologies that sits at the bend in Kilvert Street. At the stop sign, the Residence Inn sits on your left, and Beacon Mutual Insurance is directly ahead of you in the cul-de-sac. Please go around to the side to park. This will free up the front parking for guests that are registering or departing.

Have a great day!

The greatest compliment I can ever receive is a referral from my friends and clients!

Sean Wheelan

Personal Mortgage Consultant

The Mortgage Group, Ltd

401-965-9384 Cell

SWheelan@TMGLtd.biz Email

www.TheFriendlyNeighborhoodMortgageGuy.com Web Site

508-276-0171 Fax

Lets Network! Part II

Sean Wheelan (The Mortgage Group) — Thu, 16 Oct 2008 05:33:41 -0500

As a Mortgage Professional for 9 years, my career has taken me down many paths, and given me the opportunity to help Hundreds individuals and families buy or refinance their homes. I've also met many fine folks and service professionals that help me deliver a complete package to my clients. Because of my realtionship first approach, my network of service professionals is growing on a daily basis.

Do you have a service, skill, or career path that would mesh well with my Services as your Personal Mortgage Consultant? Lets talk! I'm currently interviewing like minded PROFESSIONALS that practice strong business ethics who are looking to expand their referral sources and referral partners. More specifically, are you interested in joining an exclusive Leads Referral Group? Call or email me for details. You could be in on the ground floor!!!

If you would like to be part of that network at a more formal level, we are forming an EXCLUSIVE LEADS REFERRAL group within the non-profit organization called Live Wire. Call or email me, or even visit the web site: LiveWire. I have formed the 2nd chapter of this fine organization. We have secured people for the CPA, Marketing, Residential Realtor, Real Estate Attorney, and of course Mortgage Consulltant spots. We have people actively interviewing for the the Printing and Promotional Products, Pay Roll and HR Services, Home Improvements, Insurance and Financial Advisor, Book Keeping, Business Coaching and Commercial Real Estate positions. We'd love more interest from Appraisers, Estate Planning Attorneys, Litigating Attorneys, General Contractors, Chiropractors, Photographers and any of the previously mentioned professions. The goal is too have a VIBRANT referral group with the best professional representation possible from across RI in as many unique professions as possible. I'd love to hear from you!

PS: This is not BNI. It is similar, but better as we operate as a non[profit with no corporate or franchise dues! Contact me and find out more!

PPS: With only a handful of dedicated members, we've already referred almost $30,000 in business!!!

www.TheFriendlyNeighborhoodMortgageGuy.com

ASK A PRO!

Do you have a service, skill, or career path that would mesh well with my Services as your Personal Mortgage Consultant? Lets talk! I'm currently interviewing like minded PROFESSIONALS that practice strong business ethics who are looking to expand their referral sources and referral partners. More specifically, are you interested in joining an exclusive Leads Referral Group? Call or email me: swheelan@tmgltd.biz for details. You could be in on the ground floor!!!

As the site grows, my various "Great Resources" will be categorized by the state(s) they do business in, and if necessary, regionalized by counyt within the state to create further exclusivity. Can we grow together? You know how to Contact Me.

If you are trying to build your own business, I've also provided some networking information. I hope you find this helpful. I know you will!

-Sean

A pat on my back! A Blog about FTHB Success

Sean Wheelan (The Mortgage Group) — Wed, 15 Oct 2008 14:03:27 -0500

I just experienced a very cool “first”

I recently had a not-so-easy purchase for First Time Home Buyers. All the bells and whistles; little to no down payment, tough to verify income, in need of down payment assistance, closing after Sept 30^th 2008 and less than perfect credit. But most importantly, very nice people. I wanted to work hard for them and make sure they got the financing. They were working with one of RI’s premier Realtors, Debbie Blanchet of Coldwell Banker, and had found a great bank owned home that was within their price range and budget. They were nervous and wanted to become homeowners badly. In fact, when I first met them in person to review the initial disclosures, they showed me a piece of paper where they had calculated out the total amount of rent they had paid for over 10 years! They lamented at where that money could have gone, but opportunities are for the taking, and the current market gave them their chance now.

In the end, everything went well. We were cleared to close 2 weeks ahead of the contract date. I attended the closing, and at the end, they asked me to wait as they wanted to give me a gift. They went out to their car and came back with a framed “Certificate of Appreciation”. It read, “This Certificate of Appreciation is awarded this day, October 14, 2008 to: Sean Wheelan for his services”. I was very touched at the sincerity of their token of appreciation! I wish them well as they will truly appreciate their opportunity to be home owners. “Pride of ownership” is a statement that applies perfectly for these First Time Home Buyers.

I write this blog knowing I’m tooting my own horn a bit, but as a Mortgage Consultant in this market, it’s nice to know your work has been appreciated, and I don’t mind letting a few people out in the world wide web know it!

I would love to share my knowledge of RI’s HUD approved Down Payment Assistance programs. They are still available. If you are a first time buyer, I’d love to earn your business!

All the best,
-Sean
401-965-9384 cell
SWheelan@TMGLtd.biz Email
www.TheFriendlyNeighborhoodMortgageGuy.com
www.myRImortgage.com

Tough Times, Great People-We are doing more loans every month!!!

Sean Wheelan (The Mortgage Group) — Fri, 10 Oct 2008 16:53:47 -0500

Tough times great people!

"Challenging ", it is a word we continue to hear when people attempt to describe the market we are currently in. It's a word that I think is very appropriate as I tackle each day laid out in front of me on my path to success in the mortgage business. I am proud to say that we consistently meet our challenges head on as a team and continually earn great testimonials from the clients we serve!

I formed a new division with The Mortgage Group in March, adding new responsibilities and daily tasks that have forced me to hone my skill set to new levels. The challenge has allowed me to experience a professional growth curve like none I've experienced during my 9 year career as a Mortgage Professional. The most rewarding part is that as a team we have improved in both value to our clients and in funding production. The first half of October has, though not yet complete, had been our 2 best funding weeks this year!

Along with our parent company, we are improving our systems each day to better leverage our personal approach and use of technology. If you are reading this Blog, I would hope to prove it to you as your Personal Mortgage Consultant or as your team mate.

Happy originating!
All the best,
-The Friendly Neighborhood Mortgage Guy
401-965-9384 cell
SWheelan@TMGLtd.biz Email
www.TheFriendlyNeighborhoodMortgageGuy.com