Hello, and welcome to Real Estate Reality Radio. The most important hour of radio every Friday from 9 to 10 on WBCB 1490 am. Thank you for joining Vince and me. For those of you who are not familiar with the show I am the guy with a bow tie and a bit of an attitude and Vince is the fun affable best friend. Our show is dedicated to dispelling the myths associated with Real Estate and finance in your marketplace.
Within every market there are obstacles and solutions on the path to tremendous opportunities. Vince and I think most people are looking for practical advice. Please feel free to call 215-740-8999 or visit peterbuchsbaum.com.
Please join us live on the web at www.wbcb1490.com from 9:00am to 10:00 am every Friday.
We are joined today by Mario Henry from Halo America. HALO America stands for Homeowners Assistance Lease Option program. HALO America was spawned in 2008 during the sub-prime mortgage crisis from the company formally known as Credit Evolution and Development. It is a bridge for home-ownership program that is catered to the masses stuck renting due to credit challenges. HALO America has branded a state-of-the-art process to bolster credit-challenged renters and grant them access to the real estate market. We want to bring the middle class back into the city while simultaneously increasing city revenue and upgrading community potential.
So last week we discussed Private Mortgage Insurance and the loss of deductibility in 2012. This week has had some interesting current events: Foreclosures Fall to lowest level since 2007 (more than 4 million homes have been lost to foreclosure over the past 5 years); Can anyone Save Fannie Mae? It is estimated that their bailout will cost in excess of $124 billion through 2014. But rest assured whatever else happens Twinkies will survive bankruptcy. Yes Hostess Brands filed for bankruptcy Wednesday but will continue to churn out Ho Ho’s and Ding Dongs. Finally, turning Foreclosures into Rentals. The federal reserve hopes to launch a pilot program intended to sell properties in bulk to investors to turn them into rentals.
Ever since the mortgage crisis began with the meltdown of Fannie Mae and Freddie Mac people have been trying to create a new normal real estate market.
Today we have the opportunity to spend an hour with Mario Henry and discuss how he and his team at Halo assist buyers through the maze of buying a home. The process for HALO is more than just numbers. Theirs is an education in how to own a home. Their motto is my favorite. Rent for 6 months and own for a lifetime.
Please join us live at www.wbcb1490.com for the open discussion with Sandy. Our discussion topic will be credit and credit scores and the effects of those scores. .
Each week we discuss the myths of the mortgage market. It is not about rate. A higher rate with no mortgage insurance may provide a lower payment.
Finally Vince and I have been invited to participate in the Home Retention Workshop on January 14th at Kenny’s in Southampton from 12:03 to 1:37. The workshop is sponsored by Right Side Up.
Next week we hope to be joined by another member of Right Side Up to discuss what to do if you are not sure you can afford to sell your home.
