Not all lenders provide a credit. It is best to shop around and ask which lenders provide a credit.
As an example, a transaction was saved when the seller was offered $195,000 with a $5000 seller concession. The seller wished to net $192, 000. The realtor realized the need to find a lender who would provide a lender credit, thus … (1 comments)
seacoast mortgage: Do you "stick" to it? Do you execute your plan? Do you have a plan?
- 11/23/09 12:25 PM
"I like a person who knows his/her own mind and sticks to it; who sees at once what, in given circumstances, is to be done, and does it." William Hazlitt (1778-1830) English Essayist Do you get up every morning or go to bed each evening with a plan for the day or the next day? Do you stick to the plan? For example, you say you will send out Thanksgiving Day cards to all your clients and, instead, you only send out a few? Or you had a goal of calling expired listings for the past month, but only achieved calling … (2 comments)
HOW TRUE! There are those who gossip and those who do not. Take notice! The ones who do NOT gossip are the ones who SUCCEED. Please take a moment and think of those you RESPECT and ADMIRE. They are successful because they keep the gossip within themselves. They listen to others, but they focus on the positive and throw away the negative. They focus on their goals and ultimately achieve their goals. How do you rate yourself: a Gossiper or NOT? Ann Sabbagh Vice-President Seacoast Mortgage RESIDENTIAL & … (5 comments)
seacoast mortgage: RUMORS OF MORE BANK FAILURES: WHEN WILL IT ALL END???
- 07/02/09 02:43 PM
Banks have slowed down on processing; we all understand this. But, when a bank does not fund on time, one must begin to wonder about the stability of that bank. It is becoming very apparent to me how necessary it is to have many banks in your "arsenal" as a mortgage lender in order to service the public in the best way possible. 7 more banks failed this week. It is not over yet. It is also very apparent the importance of being a mortgage broker AND a mortgage lender. Although it is very costly to maintain lender and broker licenses and … (1 comments)
seacoast mortgage: ATTENTION REALTORS: ADD COMMERCIAL REAL ESTATE SALES TO YOUR BUSINESS!
- 06/14/09 10:00 AM
The word "commercial" scares many realtors AND mortgage brokers. WHY? Well, yes, it is a specialized area of selling and lending. Acronyms like DSCR, absorption rate, management fees, ROI, Cap Rate, vacancy factors can scare away the residential broker. Commercial properties encompasss anything that is not 4 family units or less. These include: 5 units or greater apartment buildings, mixed use, gas stations, industrial, land, salons, retail strips, etc... I do believe realtors should have a residential lender AND a commercial lender at their disposal. In order to survive in this crazy real estate market, realtors need to NEVER turn away a … (8 comments)
seacoast mortgage: SHORT REFINANCE/LOAN MODIFICATION: GETTING THE WORD OUT ON RADIO...THANK YOU RALPH ROBERTS FOR INVITING ME AS A GUEST SPEAKER!
- 03/17/09 01:50 PM
Thank you Ralph Roberts and everyone else on talk radio and television who are educating the consumer and enabling loan modification to help this nation rise from its knees and stand up. I was recently a guest speaker on "keepmyhouse.com" radio show: an informative talk radio show which discusses the various ways of KEEPING THE HOMEOWNER IN THEIR HOME. We need to stop the short sales and the foreclosures in America, before we can ALL recover. It isn't just about helping people who may have made a bad home purchase decision and/or loan decision. It's about keeping the homeowner in the … (4 comments)
seacoast mortgage: AGENT SLIPS ON ICE AT A FORECLOSED PROPERTY: MAY SHE REST IN PEACE
- 02/05/09 12:39 AM
Edwina passed away this week. A Rhode Island real estate agent for most of her life, Edwina was showing a foreclosed property to a prospective client, slipped on the ice, hit her head and was rushed to the hospital. She had been in a coma for a period of time and her family made the painful decision to take her off life support.
May Edwina rest in peace and may she set an example for all of us that life is, indeed, short and we must enjoy every second of every day. Also, all of us who are visiting foreclosed properties that … (5 comments)
•1) Do you believe in the loan and the borrower? •2) Are there compensating factors? •3) Is there a logical explanation for the lates or other derogatory credit that can be explained and substantiated with documented proof? If you answered "yes" to all the above, take an application and let's begin! My borrowers were trying to sell their home and 4 times, the closing … (1 comments)
Will this moratorium work? Not if the current lenders are unwilling to loan modify their current loan. Some lenders are doing a great job of loan modifying. For those homeowners who have been successful, they have provided me with the following "tips": •1) Tell your current lender you absolutely cannot afford the payment and forward to them income data and expenses to reflect your hardship. •2) It … (7 comments)
What is it? How do you become approved? What lender allows them? A short refinance is when your current lender forgives/"cuts" a portion of your mortgage debt. In other words, they write-off a portion of the debt. To get started, you need to contact your current lender and notify them of the difficulty you are having in making payments. DO NOT WAIT UNTIL YOU ARE LATE! It is important, you contact your lender and thoroughly explain why you can not meet payments and will soon be late … (0 comments)
Streamlining is simply refinancing the existing mortgage REGARDLESS of the value of the home! So, if you have an FHA loan and you are "upside down"; FHA DOES NOT CARE! Simply contact an FHA lender (like me!) and streamline down to a lower rate.
AND! You can do this at NO cost!!! If you pay closing costs, the rate would be lower.
This is the BIGGEST advantage of an FHA loan! Take advantage: TODAY!
Ann Sabbagh Vice-President Seacoast Mortgage 508-243-1190 (cell) www.annsabbagh.com "When you choose me … (1 comments)
My experience has been a national company has bigger pockets in case the buyer has issues after they purchase. I like the local providers, since they have the contacts for repairs.
What are your thoughts?
Ann Sabbagh Vice-President Seacoast Mortgage 508-243-1190 (cell) www.annsabbagh.com "When you choose me as your mortgage consultant, you also choose a financial planner who has YOUR financial strength as the PRIMARY concern" … (6 comments)
I read a blog the other day that stated: "Don't ask loan officers about rates anymore...ask if they can get the loan funded!"
It went on to say how the buyer was at the table and the lender cancelled the program, thus would not fund the loan! OUCH! I remember those days when sub-prime existed, but this concerned a PRIME loan at 5% down. Is this REALLY happening? Well, it has NOT happened at my company, but reading this does concern me. Has anyone seen this happening on a PRIME loan??
Ann Sabbagh Vice-President Seacoast … (4 comments)
seacoast mortgage: "CITY MOUSE" VS THE "COUNTRY MOUSE"
- 10/17/08 01:23 PM
Rural housing programs at 100%! NO Mortgage Insurance, too! So, I guess what one can interpret from this is the people who would buy in the rural sections of town are less likely to foreclose than those buying in the city. "Country Mouse" VS "City Mouse" !
Yes, one can also assume the government wishes to make the rural living area a viable alternative. But, why no mortgage insurance? Is this going to hurt the lenders?
The "City Mouse" used to have the down payment assistance programs, but now they are GONE. These programs allowed for 100% using … (0 comments)
seacoast mortgage: HELP UNCLE SAM! BAIL OUT THE HOMEOWNER: NOT JUST THE BIG GUYS! HOW ABOUT US???
- 09/16/08 03:49 PM
The government is bailing out AIG, Fannie Mae and Freddie Mac. It is time the government bails out THE HOME OWNER through FHA!!! I am not saying it should be a total bail out. I am proposing a modification to what the President recently passed. FHA funds need to be set aside which allows individuals who are facing foreclosure to save their homes by allowing a 90-95% LTV loan and attaching a lien on the property for anything over what they owe. The government pays off the lender who currently has the loan. The 2nd lien will then be owed to … (3 comments)
seacoast mortgage: ASSESSMENT OF A HOUSE VS ITS VALUE: YOU CAN SAVE $$$$$
- 09/16/08 03:29 PM
Assessments may be accurate in some towns, but not around here. Buyers are still looking at assessed values to make their offers. I know towns have their guidelines on when they issue new assessments, but owners can go into their town halls and request abatements. Now is the time to do this! Especially if you are considering selling and you know you are over assessed, go ask for an abatement so you have a lower tax bill. Low taxes are just a bonus for the prospective buyer. Even if you are not selling, wouldn't you enjoy a lower tax bill? … (0 comments)
Seacoast Mortgage: Your place for:RI loans, MA loans, CT loans, FL loans, commercial loans, residential loans, FHA, VA, USDA, 100% financing, FSBO (for sale by owner) assistance.
Find a loan in RI, find a loan in MA, find a loan in CT,RI mortgages,CT mortgages,FL mortgages,MA mortgages.
Do you qualify for a loan? At Seacoast Mortgage, we qualify you within your means. What you can afford is different than what you qualify for. Call us today!
In this challenging appraisal market, the goal is to keep the seller concession to a minimum so as to prevent the need for a higher appraised value. In order to accomplish this task, a lender credit is the answer!
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