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 www.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 on our own discussing the need to seek answers before you make decisions.
Today Vince and I are joined by Bill Clement. That’s right WBCB’s own hockey Bill. Some of the past weeks current events have been interesting: Principle Reduction is the Way. Big surprise, banks just learned that reducing the principle balance to near the value of the home the homeowner is less likely to stop making their payment. Sheila Bair the former head of the FDIC promoted that theory years ago and the banks declined. Leaving Mortgage Assistance on the Table. Homeowners are inundated with news about a vast array of assistance programs and most consumers think they are scams. There are lots of programs that might work but people are afraid to ask. Home Prices Rise for the first time in 7 months. It appears that prices are now up to 2003 levels. While down 1.9% on an annual basis and 34% from 2006 the increase over April was a big positive to the market.
We have recently been using www.CBSPhilly.com/AskPete to entertain questions that people feel more comfortable asking anonymously.
Please join us live at www.wbcb1490.com for the open discussion about the banks attitude with consumers.
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.