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 us. For those of you who are new to the show I have spent the last 40 years in the real estate industry both as a realtor and a mortgage banker. The 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. 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 or on your FREE app Tune In Radio from 9:00am to 10:00 am every Friday.
So last week we were on our own in an open forum discussing the government’s effort to go back to work.
This week in the market the news was dominated by banking issues. From new concepts to large financial settlements this week has seen a lot. Bank of America has a novel idea. They want to set up an account that does not allow you to take more money out if it is not in your account. Then they won’t need to hit you with overdraft fees. First Bank of America declined to discuss the potentially new account but seriously…Why would they let me take out more than I have in my account? Sorry, I must have been dreaming. They make money by charging fees. C’mon man! The biggest story of the week was the JP Morgan (Jamie Dimon) have tentatively agreed to a $13 billion settlement for selling loans that they knew were bad to Fannie and Freddie. Jamie was negotiating but lost in an effort to avert any legal penalties for wrongdoing. Again, C’mon man! The next article discussed the other lenders now in the crosshairs of the department of justice. This was just in time for the news that shockingly (he says sarcastically) Countrywide was found guilty of fraudulently selling loans to Fannie Mae and Freddie Mac. Just a short history lesson Bank of America bought Countrywide because they saw it as a “cash cow”. Now as the fines are mounting they say this is not them. Kinda like the guy on action news with his jacket over his head hiding his identity. C’mon man!
Today Eddie and I are being joined by Andy Dziedzic from Financial Strategies Advisory. Andy and his team hope to help you understand the opportunities and potential rewards that are available when you take a proactive approach to your personal financial situation. They are available to help you gain a better understanding of the financial concepts behind insurance, investing, retirement, estate planning, and wealth preservation. Most important, they hope you see the value of working with skilled professionals to pursue your financial goals.
Please join us live at www.wbcb1490.com for the open discussion about how mold affects your health and the value of your home.
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.