Mike Wright's (MortgagesDoneWright) Blog

Follow me
By
Mortgage and Lending - Axia Home Loans - North Metro Branch | NMLS# 1455428 - NMLS #308232
RECENT BLOG POSTS
It seems every year we wait till the Super Bowl or Daylight Savings Time to see the housing market improve.  However that is not the case this year.  For those who’ve been thinking that they’d build a new house someday, that day ought to be right now. With existing inventory scarce and interest ...
03/03/2013
The long awaited QM (Qualified Mortgage) rule was announced by Richard Cordray, Director of the Consumer Financial Protection Bureau, yesterday afternoon. Gone are the days of NINJA loans (no income, no job, no assets but gee, they are wonderful people…) and negatively amortizing Option Arms, or ...
01/11/2013
Kate Wilson sent out this blog on Friday which I felt appropriate to forward to all of you. Thank you all very much for your support and continued partnership leading into 2013.  Have a great Holiday and wonderful New Year!!!!   I don’t know about you, but we are finishing really strong this year...
12/17/2012
Ben Bernanke and the FOMC (Federal Open Market Committee announced last week that they were going to buy up $40Billion in mortgage backed securities monthly ‘for the duration’…no expiration date tied to this announcement. The result was that mortgage backed securities shot up 104 basis points, d...
09/17/2012
This post by Barbara is right on in soo many ways.  In Minnesota we are seeing a tremendous amount of clients seeking New Home Construction financing, which is a very refreshing sign for many.Timing is everything in real estate.  The time is right; the numbers are right; the interest rates are ri...
09/06/2012
Accepting ‘pre-approval letters’ that aren’t worth the paper they are printed on -OUCH 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 accepta...
09/05/2012
“Most men lead lives of quiet desperation and go to the grave with the song still in them.”-Henry David Thoreau.    Our songs are often silenced by a couple of very small words…I can’t. Henry Van Dyke said, “Use what talents you possess: The woods would be very silent if no birds sang there excep...
09/04/2012
Good morning on this wonderful Labor Day weekend,  Here is some very helpful information I gathered from the most recent ActiveRain Boot Camp.  I would also encourage you to listen the recordings from the following speakers as well Ben Kinney, Bob Stewart, Sue Adler, Debe Maxwell, and Ryan Dallas...
08/31/2012
The key to continued improvement in the housing market will come from new household formation. The people underwater on their mortgage aren’t able, in many cases, to move. First time homebuyers have no such constraints. Tired of living out of boxes and ready for a place to call their own, the 20...
08/31/2012
It only works on an FHA loan and it does require a bit of advance planning. In order to use it, the sales contract must indicate the work the buyer will complete during construction, the amount of dollar credit for that work (labor only), and the contractor must supply two bids from contractors t...
07/24/2012
Rainer
18,080

Michael Wright

Equal Housing Opportunity
smartphone612.490.6444
business612.677.3335
Contact The Author