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 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 discussed financial planning and how mortgages are a financial tool more than an expense with Joe Willse from New York Like. . This week was full of great current events: More than 30% of Mortgages are still underwater. Despite the recent press of rising home prices nearly 16 million homeowners owe more than there home is worth according to Zillow. The other statistic was interesting 90% of those borrowers are current on their loans. However having no equity in your home leads the borrower to feel trapped. All of this while another report shows that home sales surged in April. Al be it they surged comparatively to a weak number as they are still terribly anemic. The real positive is that distressed sales accounted for a smaller percentage in April than the previous month. This brings me to the Mortgage Free recovery. While it certainly appears that a small recovery is on the way lending is no better. According to Capital Economics a very large percentage of Aprils sales were cash buyers and investors. This is no way to sustain a recovery.
Today we have the opportunity to spend an hour with Morrie Olson. Morrie Olson, is a pharmacist and marriage and family therapist Mr. Olson has had and extensive career in the field of individual, couples and family therapy as well has having specialized in the area of substance abuse pharmacology and treatment. He is also the author of several professional articles and taught family therapy and addicitons courses atHahnemann Univ. Alvernia College and the Phila. School of Osteopathic Medicine
Morrie, is a part of an addiction psychiatry practice in Plymouth Meeting pa and also sees patients in Bensalem PA.
With that said we would like to discuss the stress associated with buying a home. How does money and financial decisions effect relationships? But more importantly how people can change the dynamics so they do not suffer from the stress.
Please join us live at www.wbcb1490.com for the open discussion with Joseph as we explore mortgage lending as another tool in the financial planning shed. .
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.