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 Brice and Ken from US Residential. This week had some interesting current events. Bank of America is being sued for alleged mortgage fraud. According to US Attorney Preet Bharara Countywide senior management was warned that removing safeguards on their loan origination process would “result in catastrophic consequences.” This is the 6th time in 18 months that the Justice department has sued a major bank. The law suit alleges that Bank of America continued the “Hustle” after they bought Countrywide. The Hustle was a streamline program to designed to process loans quickly without quality check points. What is the best down payment on a home? Is 20 percent down payment the only way to avoid PMI (private mortgage insurance)? Is it difficult to make your PMI go away? There are new loans available so that you do not need to raid your 401K or ask your family for a gift simply to avoid PMI. The misery index predicts Obama will win the election. The Misery Index was created in the 1970’s. It has accurately predicted 9 of the past 12 presidential elections. The three elections it missed the index was “flat”. It is a compilation of the unemployment rate and the inflation index. When it rises the incumbent fails and when it falls the incumbent is victorious. As of the past quarter it was down to 9.8 from 11.3 four years ago. I just liked the name.
Today Vince and I are joined by David Warrick of JC Warrick and Company Inc. David has a plan to help you keep more of what you earn. David’s goal is to “optimize your taxes to give you a more secure financial footing.” David has been able to show his clients strategies designed to increase the value of their assets and then pass them along to their loved ones income tax-free with no additional investment on their part, and in many cases, he has been able to effectively help clients mitigate their tax burden.
In combination with CBS and WPHT 1210 am 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 week.
Please join us live at www.wbcb1490.com for the open discussion about how to “keep more of what you earn.”
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.