678-439-8683
FHA Home Loans
Thursday, December 24, 2009
Ready for the family
Thanks to the wonderful blessings of God and the privilege of being born into a free nation we are pleased to be the "Home of Christmas" to my family once again.
678-439-8683FHA Home Loans
Wednesday, December 16, 2009
Saturday, December 12, 2009
Rasmussen: Tea Party outpolls Republicans - On Politics - USATODAY.com
The notion that the Tea Party movement is a vocal minority in the Republican Party may have been put to rest today. A new three-way generic ballot from Rasmussen Reports finds that a Tea Party candidate would fare better than a Republican candidate, 23% to 18%, with the Democratic candidate coming out on top at 36%. The poll also found 22% remained undecided.
There is even better news for a Tea Party candidate when it comes to independents. They chose the Tea Party candidate (33%) over both the Democratic (25%) and Republican (12%) candidates. Nearly a third of independents were undecided at 30%.
Interested in knowing more about the Tea Party or becoming a Delegate for the Patriot Caucus? Visit:
http://taxdayteaparty.com/2009/12/patriot-caucus/ and
http://patriotcaucus.pbworks.com/
Friday, December 11, 2009
Mortgage industry week in review - my Examiner.com article today
Chris Dodd, Senate Banking and Finance Chair may get a reform bill next week.
via examiner.com
Mortgage reform being considered today in the house may be sent to the Senate as soon as next week.
HR 4173 specifically bans ACORN and affiliates
Congress doesn't do everything wrong. For example:
http://www.opencongress.org/bill/111-h4173/text?version=ih&nid=t0:ih:4308
Tuesday, December 8, 2009
Decorating the man cave - season 4
I like having Christmas decorations in the man cave. You coming over?
678-439-8683
FHA Home Loans
Saturday, December 5, 2009
Agents respond to sweeping FHA changes on the horizon
Reaction is wide ranging on the heels of the announcement by Secretary of Housing and Urban Development Secretary (HUD) Shaun Donovan's announcement that sweeping changes are coming for guidelines for loans insured by the Federal Housing Administration (FHA). Earlier this week Donovan announced to Congress the levels of reserves for FHA are nearly 1.5% lower than mandated by law. In an effort to recover the reserves the department expects to announce several changes in early 2010. Changes may come as early as the first week of January.
Skin in the game is the phrase of the day
""Certainly credit score isn't a guarantee that people will stay in their homes, but the more 'skin in the game' a person has the less likely they are to walk away without fighting for it." Says Jessica Horton of Jessica Horton and Associates in Hampton, Georgia.
via examiner.com
Reactions are definitely varied. Please take a moment and leave your comment at http://www.examiner.com/examiner/x-30970-Atlanta-Mortgage-Industry-Examiner~y2009m12d5-Agents-respond-to-sweeping-FHA-changes-on-the-horizon - it just may make a difference!
Friday, December 4, 2009
Very interesting - gold down -3.92 and the only up? Livestock! (Eat more meat :)
PRICE CHANGE %CHANGE TIME GOLD 100 OZ FUTR (USD/t oz.)
1170.600 -47.700 -3.92 11:45
via bloomberg.com
If the BLS reports to the Commerce Department and the Commerce Secretary reports to the ... president ... why would they even manipulate the employment numbers? And what would happen if they did? Not saying it happened just asking if it could ...
If they outlaw YSP should they outlaw SEX, too?
The only people who oppose Yield Spread Premium from lenders (like me) to brokers (like some of you) are people who have no idea what the difference or similarities are to how lenders are paid and brokers are paid. They also seem to lack the ability (or desire) to understand how YSP is, has been and can be used to benefit the borrower. YES! It has been abused but so has fried chicken and beer. Do you want fried chicken and beer made illegal just because some fool ate too much and drank too much? Or what about sex - it is abused more often than YSP. Would you like sex outlawed so nobody gets any?
Thursday, December 3, 2009
FHA changes combined with Fannie Mae changes going to put us into a depression?
Understandably the mortgage industry and the insurers of loans, including the Federal Housing Administration (FHA), needed to have been doing more to mitigate risk in the previous years. It is no secret what has happened to our economy largely as a result of the imploding of the mortgage industry.
Subprime lending was fueled, in the larger part, by a sense of security served up by the ratings agencies like Standard and Poors. The higher ratings on mortgage backed securities resulted in ...
via examiner.com
So if, say, 30% of the people who can qualify for a home loan today cannot qualify in 29 days from today - is anyone doing the RIGHT thing?
Wednesday, December 2, 2009
More regulatory changes affecting your mortgage - will it kill brokers and an open/fair market?
Sen. Sam Brownback, R-Kan. speaks in Washington on Finance Reform.
Since 1974 one set of documents has remained relatively unchanged. These documents are a federal requirement to every conventional and government home mortgage issued on primary residences in the United States. Before these documents, it is claimed, bankers were able to charge unlimited fees, unlimited interest rates and it was difficult for home owners and buyers to shop mortgages.
via examiner.com
This is my daily mortgage news in Examiner.com - please subscribe for free while you are there and your comments are not only welcome but invited.
Tuesday, December 1, 2009
Credit guidelines are tightening further - will impact sales
Effective with all loans submitted to Fannie Mae (FNMA) through the Desktop Underwriter (DU) a fair percentage of borrowers will no longer qualify for loans based not on common sense underwriting but rather on an automated decision. Fannie guidelines have allowed total debt ratios to exceed the forty-five percent cap especially when there were other circumstances such as long time established credit, more liquid reserves than normally required or installment loans which have a short time remaining before pay off.
via examiner.com
Hang on real estate agents. Getting those buyers approved is getting tougher 12/12/09 - you can thank the failing Fannie Mae. Read the full article and subscribe for daily news updates.
Join us today for our 52nd Social Media Edge Radio Show!
Today (Tuesday December 1, 2009) at Noon Eastern join me an my co-host Jason Crouch http://austintexashomes.com for our 52nd show since Jason joined me at the microphone in 2008. Our special guest today is Miamism herself, Ines Hegedus-Garcia http://miamism.com - Ines is a noted speaker and presenter around the nation, a gifted photographer and an amazing real estate success story from Miami.
Joining us also will be our regular crew consisting of Mike Mueller (The Pantless Techie) http://areweconnected.com, Jeremy Blanton of Active Rain and Myrtle Beach Blog http://myrtlebeachblog.com, TS Elliott of http://brandmediapr.com and our newest crew member, Clint Miller of http://realestateclientreferrals.com
If it's nothing else it's always entertaining and you can listen to every show at http://blogtalkradio.com/jckc
Our network also hosts two other new shows which are both doing well: The M Files every Monday at 3PM Eastern (Noon Pacific) with Mike Mueller and TQ Radio every Monday at Noon with the Twitter Queens Diane Guercio, Maya P. and Lesley Lambert.
Monday, November 30, 2009
@MyraCook and Derek Nicholas Hill
Our practice grandbaby born to friends Nick and Diana the day before Thanksgiving.
678-439-8683FHA Home Loans
Monday's Examiner.com article - Mortgage application denials?
Some numbers simply do not have the weight to capture headlines yet still are very telling about the mortgage industry and the economy. While researchers track numbers like housing starts, the number of applications accepted or the rate of foreclosure you rarely, if ever, see numbers which may tell a deeper story. In this instance the subject is the number of denied mortgage applications.
If you have your story to share I would love to hear it. Just call me at 678-439-8683
Sunday, November 29, 2009
HUD continues $100 down program - my article today on Examiner.com
Atlanta, as well as other major metropolitan areas, is well inventoried with foreclosed homes owned by the Department of Housing and Urban Development (HUD). A search at the HUD sales site for Georgia at the time of this article resulted in 2292 listings of single family properties owned by the Department. With listing time averaging as much as nine months it is easy to understand how the seller with the best incentives will stand a great advantage in the market.
via examiner.com
With 2292 HUD owned homes listed for sale in the Georgia market taking advantage of the FHA/HUD $100 down payment program makes more sense for home buyers who may also qualify for the home buyer's tax credits.
In Georgia call me at 678-439-8683 or email me at reibroker@mail.com and I'll help with answers to your questions and as much guidance as I can. If you are an agent I can show you how to capitalize on this program and will consider co-marketing with you.
Saturday, November 28, 2009
Buy and bail: Walking away from mortgages (my Examiner.com article today)
My Examiner.com Mortgage Industry article from 11/28 -
Industry insiders call it buy and bail. Home owners faced with rising rates or simply declining values will purchase a new home at lower market prices and lower fixed rates and simply leave the other property to be foreclosed upon. Many call into questions the ethics of such a decision while others defend it as a solid business move saying it is neither immoral nor unethical.
Brent T. White, a University of Arizona law school professor, recently published (read it all and subscribe for free :)Friday, November 27, 2009
Wednesday, November 25, 2009
Welcome the Season of Joy!
FHA/VA/Conv - Construction
FHA 203k Rehab Loan Specialist
Cell 678-439-8683
http://kennycook.com
Reverse mortgages under fire
Some of you know I am writing at Examiner.com as the Mortgage Industry Examiner from the Atlanta edition. There are many viewpoints and experiences with reverse mortgages. I would love to read yours or hear them. Feel free to call and share at 678-439-8683
Essentially the HECM is a refinance loan which works in the reverse manner from a standard home mortgage. Instead of the home owner leveraging the equity in their property and borrowing a lump sum using their home as collateral the lender will send a check to the home owner on a monthly basis and slowly consume the equity.
Tuesday, November 24, 2009
This morning's article on Examiner.com - thanks for reading!
My article this morning on Examiner.com should be shared with all of your friends, family or clients who may be facing foreclosure, default or bankruptcy. With the equity bleeding out of American housing, increasing numbers of jobless home owners and Federal bank bailouts not working according to plan it is the perfect storm for raiders of hope.
Monday, November 23, 2009
Life's too short for oatmeal
My wife will probably think I came up with this ad campaign.
Nope. FHA/VA/Conv - ConstructionFHA 203k Rehab Loan Specialist
Cell 678-439-8683
http://kennycook.com
Sunday, November 22, 2009
Improving privacy on Facebook is easy | Twitterbits
Facebook users with more than two friends may want to choose which friend can access which information. Using the game “Armies” as an example let us review how simple it is to create a separate user group and choose how members of that group can interact with you on Facebook. I have chosen Armies because my wall was recently violated by an endless stream of posts from a member of that group. Instead of blocking her, which would have removed her as a valued member of my army, I chose to block all members of my group ARMIES from almost all of their ability to interact with me.
Since there are “real friends” on ARMIES I also created a subgroup called “ARMFRIENDS” to which I can add them so they can interact with me on my wall and other aspects of Facebook.
First you need to create a group. If you have never done so it is very simple.
- Log in to your Facebook account
- Click on the “Friends” link in the blue link bar at the top of the page
- Click on the “Create New List” button
- Enter the name of your new list in the text field in the pop-up
- Add members to the list
- Click the “Finish” button
Now that you have a list created and have added members from your contacts to your new list you can set the privacy setting for that group. In fact you can pretty much keep everyone from that group from doing almost anything with you. The following steps will allow you to block members of your new group from interacting with you as members of that group. Keep in mind if a member of this group is
also a member of another group they may be able to interact with you as members of that other group according to the privacy settings for that other group.
- Log in to your account
- Mouseover the “Settings” link in the blue link bar at the top of your screen
- Click on the “Privacy Settings” link
- Click on the “Profile” link
- Start selecting the drop downs and click on “Customize”
- Features that allow you to block entire lists will a text field labeled “Except these people”
- Type in names of individuals or entire lists
- Repeat for every attribute you wish to block
- Click the “Save Settings” button
- You just modified your privacy to block an entire list!
Remember, if there are people who are on that list you wish to be able to interact with you then you MUST add them to another list which allows them to interact with you in the ways you wish. Also if someone you want to block is on two or more lists they may still be able to interact with you through one of the other lists they are on.
Be sure to list to Social Media Edge Radio every Tuesday at Noon Eastern. This week’s special guest is @ChrisBrogan
Follow me on Twitter @TheKenCook
via twitterbits.com
Take 2! Chris Brogan live on Blog Talk Tuesday
If you caught the first video of my cats I apologize :)
Here's the deal - this Tuesday on Social Media Edge Radio join us for our guest Chris Brogan at noon EST at http://blogtalkradio.com/jckc this Tuesday, November 24 Make sure to join oir Facebook page at http://facebook.com/socialmediaedge - consistently a top featured show on Blog Talk Radio in the Social Media genreFHA/VA/Conv - Construction
FHA 203k Rehab Loan Specialist
Cell 678-439-8683
http://kennycook.com
Friday, November 20, 2009
Happy Anniversary @MyraCook
11 years ago tonight was my last night as a single man for on the next day my beautiful bride, my wonderful angel, would share my life.
It has been a wonderful first 11 years and starting out together as mission workers foreign and domestic we have seen more things in our 11 years together than many people see in a lifetime. From our humble marriage day to blessings of financial wealth and back to somewhere in between we have never once had an angry night. Many find it odd since we have always worked together and been husband and wife. The truth is we both always want to be just an arm away. I am so thankful my mother got to know my precious wife for 9 years and even more grateful to God for bringing her to me. If you don't know the story of how a little Kenaitze girl from Anchorage, Alaska ended up with a snaggle-toothed southern boy just call me - I love to tell the story of Jesus and his love.678-439-8683
FHA Home Loans
Thursday, November 19, 2009
Atlanta Social Media Breakfast
What a wonderful group we had at Atlanta Social Media Brakfast today at the Atlanta Bread Company in Kennesaw/Atlanta Georgia. The topic today was none other than Posterous.
If you are not yet familiar with Posterous I just used it to post this short blog and photo which you may have found on Twitter, Facebook, Xanga, Tumblr or Wordpress. If you are in the Atlanta area please join us for our next event in January. Read more at http://smbatlanta.icobb.com678-439-8683
FHA Home Loans
Tuesday, November 17, 2009
Social Media Breakfast Atlanta - Join us Thursday morning
Featured topic is POSTEROUS - which I used to post this to Facebook, Twitter, Tumblr, Xanga and some more - all with one posting. If you are a Posterous user come share with us.
STILL LOOKING FOR PEOPLE TO STEP UP TO LEADERSHIP POSITIONS
Join us at 8AM on November 19th at:
Atlanta Bread Company Town Center
2555 Prado Lane
(Barrett Pkwy Prado Center)
Marietta, Georgia 30066
770-420-9225
MAP
Our inaugral meeting in Gwinnett brought in 20 people for a fantastic time of sharing, learning and , of course, eating!
The main topics of discussion for this meeting will :
Top Social Media Websites like Posterous and Facebook
Top Social Media Tools like TweetDeck
The Line Between Social and Unwelcomed
Maximizing the Value of the PROFILE!
RSVP is FREE and REQUIRED – click here to RSVP for free!
Since the land mass of the metro Atlanta area is larger than most we will have rotating locations until we can establish leadership for each region – Northeast (Duluth/Alpharetta/John
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