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 John D’Angelo CPA as we discussed the new IRS rules as they pertain to Private Mortgage Insurance: There have been a lot of current events this past week: Countrywide is back. The most notorious “subprime” mortgage lender is back under a different name. Seriously a large group of Countywides former executives are back in the mortgage business in California. The person heading the office was listed in a Congressional report as the person who ran the “friends of Angelo” program that handed out hundreds of sweetheart loans to members of congress. The head of the National Community Reinvestment coalition said “these are not people I want to have over my house for dinner.” New York Sues lenders over mortgages. The New York Atty. General has sued JP Morgan over the loans they inherited from the forced purchase of Bear Sterns loan pool. I agree heads should role for costing 10’s of billions of dollars but why JPMorgan? In light of the first Presidential debate I thought we should look at the Presidents Housing Scorecard. According to CNN Money since April of 2009 as the Obama administration started to roll out different housing programs more than 5.4 million borrowers have been helped. It is estimated that when the latest report due out in November there will have been an additional $3 billion in debt forgiveness stemming from the $ 26 billion law suit. Economists think the Housing Recovery has arrived. Of 14 economist surveyed 9 believe we have turned the corner on housing or will do turn the corner before the end of the year. Three months ago only half of those surveys felt we were close. The same economists do not believe that housing will be the driver of the economy that it has been following past recessions. They believe it will take more time for the confidence in owning a home to regain a real footing.
Today Vince and I are joined by Adam Soloff of Soloff Wealth Management. Adam has been helping small business owners work toward achieving stability, security and financial independence for more than 15 years by being the center of the “advisement” model.
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 month.
Please join us live at www.wbcb1490.com for the open discussion about wealth management and financial planning.
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.