Pawtucket, RI

"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!"

I feel like the world is a different place...yet again! Taylor Bean & Whitaker: the 3^rd largest FHA lender in the nation has closed its doors today due to a mistake by the "powers to be" in upper management. SO, many jobs were lost today along with many homeowners who had their loans in process are now scrambling to obtain a new mortgage, potentially at a higher rate.

Click on this article for specific information:

http://www.ocala.com/article/20090805/ARTICLES/908059981/1402/NEWS?Title=Taylor-Bean-Whitaker-closes

In my little world, I ask myself, "With so few lenders left and there being so many homeowners still needing help, wouldn't it have been prudent for the government to keep this lender in business?"

For months now, we have all been suspicious something was going on at this lender. Fundings were slow. Everyone at Taylor Bean was being told it was Federal Reserve issues or document issues. The employees were being kept in the dark. Even today, after the news hit yesterday that they were suspended from originating and underwriting new FHA loans, the managers were telling us outside originators that we would be funded on closed loans. Around 2:00 today we heard that was wrong, as well. Taylor Bean shut down its operations: TOTAL CLOSE. ALL employees were told to pack their belongings and leave.

Not only is this bad for the homeowners and future homeowners, but it is BAD FOR THE INDUSTRY. Every employee at every lender is now wondering "Are we next?"? Now, some people might think this is great since Taylor Bean will be used as the sacrificial lamb: "Don't do what they did, or you, too, will be closed." I think it is bad because it will further clog the already over burden system AND the lenders that remain just become bigger and more apt to make more mistakes. The bigger one is, the tougher one is to control.

What do you think? Should a lender be closed down OR suspended until the operation is corrected: Fire the ones who caused the problem and KEEP the employees employed who were doing their job!

Share your thoughts.

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."

Ugggh...ohhh...."Brick and Mortar" banks part of our past????

Please read this article:

http://money.cnn.com/2009/07/28/news/companies/BAC_branch_closures/index.htm

Basically the article states due to "online and mobile services: Bank of America is closing 10% of its branches. Well, this trend can not be isolated to just Bank of America.

So, what impact can this now have on our economy? More layoffs, more empty buildings. America is clearly being redefined.

I do believe we will always have some "brick and mortar" banks in existence, but at what number is the question. As the young generation takes over, fewer and fewer will be required. The youth are the tech savvy part of our culture. They are VERY mobile and online consumers.

We have fallen victim to our own advances: our own technologies.

What do you think?

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!"

Real estate can be like a game of cards. Each deal is a separate hand of cards and a different game. How you play each hand and game will determine the success of that transaction. Play it well and the buyer and seller will be smiling at the closing table!

So, even when you are dealing with short sales and foreclosures, the "hand" can be played well. Here is a perfect proverb to sum it up:

"Life is not holding a good hand; Life is playing a poor hand well." Danish proverb

Play well today!

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!"