Mike Wright's (MortgagesDoneWright) Blog

True or False: Social Media Marketing is a simple and effective means to generate sales.   “The misconception is that because Social Media marketing is so tangible, it’s also easy. The fact is that it can become one of the most time consuming distractions of your business plan. And what you’re do...

We had some near misses this week. The Picture Changed. We had a borrower who changed jobs and didn’t tell us until we discovered it a couple of days before closing. A couple who applied on line and didn’t tell us they were expecting a child prior to closing that would eliminate one of the income...

Calculating the right mortgage for someone is a complex math story problem and it requires knowledge and expertise to get it right. In my search for a good financial planner years ago, a friend of mine gave me some sage advice. She said that one of her criteria for deciding who she’d use was base...

It’s that time of year again when we dig out all of our receipts, W-2’s etc and sit down for a date with Turbo Tax or our accountant to find out whether we will give or receive.     The offices of the IRS get slammed with incoming this time of year and depending on how you file your taxes, it may...

We’ve definitely moved away from the edge!   The uptick in activity for the month of January was nothing short of astounding. Application volume was 600% higher than in a normal January. Some of it is undoubtedly related to ‘the winter that wasn’t.’   Yet, there has been a definite shift in the m...

It's a old saying in Real Estate that buying a home is all about Location, Location, Location.  Well the Mortgage industry now has one as well- Compliance, Compliance, Complaince.  Those lenders that are not willing to put this at the top of their priority list should certainly re-evaluate their ...

I just got back from Dallas at a Managers meeting at our corporate office.  What they spoke of in one meeting is the importance of farming the area you live in. As I sat and listened, I kept thinking about a team of Realtors that do this better than most in Chanhassen, MN.  Minnesota Home Experts...

  Those of us in sales are challenged in today’s environment to build a case that passes the “So What?” test and the mode of message delivery is very  different depending on the generation of our audience.  According to Terri Sjodin, author of Small Message, Big Impact, most of us are still deli...

Next time ask if ‘Pre-approved means Proved. Everybody Wins!   Someone recently commented to me that some 19% of all real estate transactions are falling apart during the approval process never to get to the closing table.  Ouch! The failure stems in part, from  “ the acceptance of ‘pre-approval ...

You may have buyers eligible for a Minnesota Housing mortgage if they: Are a first-time homebuyer, meaning you have not owned a home in the past three years, Have federal income tax return copies for the last three years, Have acceptable credit, Have an income at or below prescribed Minnesota Hou...