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 believe that 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.
So last week we were joined by Richard Geha and Lisa Cifrese from Thornewood Farms for a little break from reality. This week had some interesting current events. There was a “Bank Study” that determined that “Lending was crunched”. So the government spent tax dollars to come to the realization that banks don’t want to lend money at very low rates because they can’t make any money. Lower Mortgage Rates can only do so much. This was an article that described the irony of low rates would only work if more people qualified. Housing Recovery Blossoms. The most recent housing reports are showing that sales and prices are up. This is a beginning not an end.
Today Vince and I are joined by Sherri Eckles from Gateway Funding. Sherri was formally the national 203K training manager for M & T Mortgage. There loss was Gateway’s gain. Sherri like the thought “Instead of charging the cost of repairs on your Home Depot card and paying 21 percent interest for the rest of your life, you can borrow up to 110 percent of the appraised value.”The program is intended to facilitate the sale of “as is” properties which need just a little work, and is ideal for borrowers who don’t have any cash left after closing to replace worn out carpeting or leaky windows.
In combination with www.CBSPhilly.com/AskPete we have also been fortunate enough to have been asked to write some articles in “Local Living Magazine” to explore some of the questions you all ask us and the answers we provide. Look for your latest issues available next week.
Please join us live at www.wbcb1490.com for the open discussion about how to utilize a 203K loan.
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.