FHA Loans and Social Media - ken cook - georgia fha



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.

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December 1, 2009

Join us today for our 52nd Social Media Edge Radio Show!

Social Media Edge Radio

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.

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November 30, 2009

@MyraCook and Derek Nicholas Hill

Our practice grandbaby born to friends Nick and Diana the day before Thanksgiving.

678-439-8683
FHA Home Loans

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November 30, 2009

Monday's Examiner.com article - Mortgage application denials?

Link to the article here

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

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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.

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November 28, 2009

The "White" Tree by @MyraCook

(download)

678-439-8683
FHA Home Loans

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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 :)

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November 27, 2009

It's beginning to look a lot like ...

Christmas! Now where's my remote?

678-439-8683
FHA Home Loans

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November 25, 2009

Welcome the Season of Joy!

FHA/VA/Conv - Construction
FHA 203k Rehab Loan Specialist
Cell 678-439-8683
http://kennycook.com

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November 25, 2009

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.

http://www.examiner.com/

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