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 Mary Conboy Director of her sons’ memorial fund Adam C. Conboy Memorial Fund. Mary is the mother of a Marine who lost his life in Iraq in 2006. Mary’s story started like thousands of other mothers throughout our nation but her world did not stop with the loss of her son. In some respects it just began. The memorial fund’s mission started out as a mission to enhance the quality of life to all military personnel serving in Iraq and Afghanistan by sending the comforts of home to their remote locations. Now that the soldiers are coming home Mary’s efforts have shifted to helping these young men and women re-enter a different world. Little things we take for granted. They need jobs. New jobs require interviews, resumes, and the proper attire for the interviews. Mary is here to help but needs us to work with her. It is one thing to ask for bedding and coats but another thing to ask for money and money is what she needs.
So last week we discussed the efforts of Bucks County Housing Group and the new Mortgage Settlement. This week was full of great current events: Three of the Four GOP candidates would add to the deficit. Fannie and Freddie $110 Million and counting. Consumer Bureau targets fine print. Seriously the New Good Faith Estimate designed by these boneheads does not even have a space for the consumer’s signature.
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 Mary Conboy and help her help the veterans entering the home buying process. The VA loan has the lowest default rate of any other loan by percentages. Vince and I believe that this is because they calculate residual income in the qualifying process. Interesting statistic when you add that the majority of the loans have no money down. Dispelling another myth that with no skin in the game people will somply walk away from their loans.
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 discuss a money management program designed to assist households in reducing their debts by managing when payments are made.