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 join us live on the web at www.wbcb1490.com from 9:00am to 10:00 am, every Friday. And, feel free to call 215-740-8999 to talk to us live. You can also listen to the newest shows and archive at: http://peterbuchsbaum.com/radio
We are joined today by Katie Brown and Kelly McGinty from Congressman Michael Fitzpatrick’s office. Katie and Kelly are “constituent advocates”. A great term to tell us that they work for us. As a Member of the 109th Congress Mike could be describes as an independent- minded advocate for his constituents. He fought for stronger borders, lower taxes and smaller budget deficits. Locally he worked successfully to bring the National Veterans’ Cemetery to Bucks County. Mike is presently on the “Committee on Financial Services.”
So last week we discussed credit and financial IO. This week has had some interesting current events: The New Consumer Bureau and it priority; Has President Obama’s Housing Policy Failed; Foreclosure Nightmares. The New Consumer Bureau sounds great. It protects consumers. Can’t argue with that. However we are in a mortgage lending crisis so clamping harder on the mortgage industry seems counterproductive to me. Obama Administration is selling the same thing that bad loan officers sell. Rate! Mortgages are more than just a low rate. This will not solve the problem.
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 Congressman Fitzpatrick’s team and discuss what kinds of issues they are experiencing when communicating with existing lenders.
Please join us live at www.wbcb1490.com for the open discussion with Sandy. Our discussion topic will be credit and credit scores and the effects of those scores. .
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 be joined by another member of Right Side Up to discuss what to do if you are not sure you can afford to sell your home.