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 We are joined today by Marci Polekoff and Sherri Pace from Bucks County Housing Group Inc. Bucks County Housing Group is a private, non-profit social service organization which provides a wide range of housing and related social services to homeless and low-income families. Their primary goal is to assist families attain permanent housing and financial security. Owning a home is a goal for many; finding and buying an affordable home in Bucks County is not always easy. For families with low to moderate- low income it is even more of a challenge. But home ownership is one of the best long term investments families can make and Bucks County Housing is committed to assisting families realize their housing dreams.
Bucks County Housing is fully certified as the point of entry for both the Bucks County First-time Homebuyer Program and the Pennsylvania Housing Finance Agency (PHFA) Homeowners Emergency Mortgage Assistance Program (HEMAP) and NeighborWorks programs. The county program provides no-interest closing cost loans to eligible buyers with incomes below the county median. The state HEMAP program assists homeowners with mortgages in default or in danger of default (this program has been closed due to lack of funding). Bucks County Housing is also Bristol Township’s long-time partner for housing counseling services as part of their first-time homebuyer and foreclosure prevention programs.
A unique Homebuyers Boot Camp program introduces disadvantaged community members to the facts about buying a home and supports them as they save in a support group setting. To date participants have saved $68,038.41 and 14 participants purchased a home.
So last week we discussed the efforts of Michael Goldberg of Koller Law and the new Mortgage Settlement. This week was full of great current events: The Number of Foreclosed Homes climbed in January (Delinquent loans were up 3% over December but lower than last year); Citi Group to pay $158 million to settle allegations that they defrauded the FHA. A Citi spokseperson said “We take our quality assurance processes seriously.”States Use Mortgage Settlement Money to plug budget holes.
Ever since the mortgage crisis began with the meltdown of Fannie Mae and Freddie Mac the government has tried to fix the problem with lower interest rates.
Today we have the opportunity to spend an hour with two wonderful women from Bucks County Housing who are both certified housing counselors. We hope to cover more about the $25 billion mortgage settlement and what it means to you.
Please join us live at www.wbcb1490.com for the open discussion with Marci and Sherry. Our discussion topic will be how to utilize Bucks County Housing to answer any questions that may arise from all of the programs out there to help homeowners.
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.
Next week we hope to be joined by Mary Conboy and her efforts to help veterans. .