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 stuck in the mud guy with a bow tie and 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.

We are thrilled to be joined today by Harry Kathy Costa Gentner.  Kathy has created and organized a community conscious resource center made up of likeminded people looking to assist homeowners through the maze of how to deal with homes that are no longer worth what the homeowner may owe. As Vince are I are members of Right Side up we may be a little biased but we believe this effort is one of the most worthwhile groups we have had the privilege to be a part of. See Below:

Local Experts:  Attorney’s, Mortgage Bankers, Credit Repair Specialists,  Title Agents and Realtors, join together and offer a comprehensive seminar for sellers.
So many homeowners are leaning on the lender who owns the note to their home. Each day, the homeowner wonders, “why won’t they just let me modify?” or “why won’t they just let me sell?” or “why won’t they just let me get a lower interest rate?”
These are just a few of the unanswered questions many out of work sellers ask today.  Confused, frustrated and exhausted sellers are reaching out for help. They are reaching to the BANK.  Homeowners are turning to the out of state, out of area programs for a modification, to only experience a “year” long process, lots of monthly paperwork and the final result is a trial modification with a final NO!     You have to ask yourself, “just how do the banks think they can write off the debt, come out ahead and help local communities?”  Middletown Township community wants help.   There is local help.
It is sad the programs in place…. HAMP, HAFA, HEMAP and now HARP are set to assist the “homeowner” but are managed by the BANK. 
Each day the local experts see many homeowners not get the requested program.  WHY?  Reach out to  Right Side Up  to find the answers. Hear what can assist sellers in a distressed modification, distressed sale or loan forbearance.
Call 215-750-3059 today.
Local Experts:  Kathy Gentner, Keller Williams Real Estate- Michael Goldberg, Koller Law Firm-Sandy McQuail, United ONE Resources- Peter Buchsbaum, Gateway Funding NMLS#133257-CMT-Home buyers- Loan Modifications, BCHG-RightSideUp Center.

It has been an interesting week in the way of current events. The national Association of Realtors are going to downwardly revise sale numbers going back to 2007 for previously owned homes. Newt Gingrich has a plan to reduce the government’s revenue by 35% in an effort to cut the current deficit. The Federal Reserve sees indicators pointing to some improvement in the overall labor market. In a forecast for 2012 a survey showed that relative to income house prices are back to an historic average.

But in light of our visit today from Kathy I wanted to concentrate on HARP 2 (Home Affordability Refinance Program). Conceptually this program makes a tremendous amount of sense. Refinance homes even if the balance of the loan is greater than the value of the home. This program only works on loans owned by Fannie Mae and Freddie Mac. Please call us to see if your loan might qualify. This plan by itself works miracles but…. HARP 1 failed miserably because the investors did little or nothing to help homeowners. The new and improved HARP 2 has similar built in flaws. Tune into WBCB 1490am from 9:00 to 10:00 Fridays to find out how to work your way around HARP 2. This is not just for homeowners. Realtors should utilize the resource center

Next week we will be joined by another member of Right Side Up. Thank you for joining us. Happy Holidays!

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