Ann Sabbagh

Remember the Nehemiah loan? It was the grant loan which FHA allowed. We were able to add the down payment to the sale price, which ultimately was added to the loan amount. For example, a $200,000 purchase would sell at $206,185. The extra $6185 was the 3% down payment which was required by FHA.

Nehemiah was terminated since it was discovered these loans had a higher incidence of foreclosures.

Ok. So now we have the $8000 tax credit, which many borrowers are using to pay back gifts from relatives that were used as a down payment or to pay back borrowed 401k funds. Ultimately, it is a Nehemiah look-a-like, but this time the taxpayer is paying and not the borrower. So, these loans risk their own level of foreclosure! Will we be hearing of the "$8000 tax credit effect on foreclosures"?

What do YOU think?

Ann Sabbagh

Vice-President

Seacoast Mortgage Corporation

508-243-1190

Please visit my website: www.annsabbagh.com

"When you choose me as your mortgage consultant, you also choose a financial planner who cares about your financial strength."

"Circumstances may cause interruptions and delays, but never lose sight of your goal. Prepare yourself in every way you can by increasing your knowledge and adding to your experience so that you can make the most of opportunity when it occurs." Mario Andretti Auto Racer

So, TRUE, Mario! The more education a real estate agent can grasp, i.e. learning about the internet and how to syndicate listings, the better the agent will be for the consumer. The more a loan officer educates themselves about loan products and learns about affordability and not just qualification, the better the loan officer will be for the consumer. The list goes on!

Bottom line: Knowledge is POWER!

Ann Sabbagh

Vice-President

Seacoast Mortgage Corporation

508-243-1190

Please visit my website: www.annsabbagh.com

"When you choose me as your mortgage consultant, you also choose a financial planner who cares about your financial strength."

"Write in your heart that every day is the best day of the year." Ralph Waldo Emerson (1803-1882).

Yes, times are difficult in the real estate industry. But a POSITIVE attitude and knowing that every day is a blessing and will be the BEST day of the year will make life happen for you and for others, since a positive attitude is contagious!

Try it!

Ann Sabbagh

Vice-President

Seacoast Mortgage Corporation

LICENSED LENDER AND BROKER

Residential AND Commercial loans

508-243-1190

"When you choose me as your mortgage consultant, you also choose a financial planner who cares about YOUR future!"

"The less you speak the more you are listened to."

I hear often in this industry: "my mortgage lender did not listen to what I wanted or my realtor is showing me homes I have no interest in"

By listening to our clients needs, we will be able to better meet those needs. Pure and simple!

Let's get listening!

Ann Sabbagh

Vice-President

Seacoast Mortgage Corporation

LICENSED LENDER AND BROKER

Residential AND Commercial loans

508-243-1190

"When you choose me as your mortgage consultant, you also choose a financial planner who cares about YOUR future!"

"I have always struggled to achieve excellence. One thing that cycling has taught me is that if you can achieve something without a struggle it's not going to be satisfying." Greg LeMond - Cyclist, 3 Times Winner of the Tour de France

Well, we all know real estate can be a struggle during these tough times, BUT at the end of the day we are helping the consumer and isn't that satisfying?

Ann M. Sabbagh

Vice-President

Seacoast Mortgage Corporation

"Where financing is smooth sailing!"

Residnetial & Commerical Financing

(508) 243-1190

(401 475-1441 (fax)

email: asabbagh@seacoastmortgage.com

website:www.annsabbagh.com

"When you choose me as your mortgage consultant, you also choose a financial planner who cares about your financial strength!"