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 on our own without Jim. We talked about the role of banks and the added licensing regulation for non bankers. This week had some interesting current events. Banks being Slumlords. US Bank (the country’s 5th largest bank) was accused of failing to maintain 170 foreclosed properties “blighting” neighborhoods. I am trapped in a high rate mortgage. Record low rates are still out of reach for too many homeowners because they are underwater. Big Banks Paying up. So far $10.6 billion of the $26 billion have been paid to help homeowners. However only $1 billion has been used for principle reductions. This is a start but the banks need to step it up.
Today Vince and I are joined for a second time by our friend Kathy Gentner from Right Side Up Center. Right side up is a short sale mediation group devoted to ensuring the best outcome for the seller. Kathy is available to discuss the “new” short sale rules and their effect on your marketplace.
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 week.
Please join us live at www.wbcb1490.com for the open discussion about the current status of the housing industry in your neighborhood and to learn how to get Right Side Up if you feel upside down.
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.