Hello, and welcome to Real Estate Reality Radio. The most important half hour of radio every Friday from 9 to 9:30 on WBCB 1490 am. Thank you for joining us. For those of you who are new to the show I have spent the last 40 years in the real estate industry both as a realtor and a mortgage banker. The 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. I believe that most people are looking for practical advice. Please feel free to call 215-740-8999 or visit petethemortgageguy.com.
Please join us live on the web at www.wbcb1490.com or on your FREE app Tune In Radio from 9:00am to 9:30 am every Friday.
Last week we were in open forum again talking about what the mortgage world would look like if I was in charge.
This week’s news was mostly about the stock market losing steam and the Federal Reserve’s continued push to “tapper”. Hidden behind what they want you to care about were two articles that I thought you should know about. The first was that the justice department increased the fine they were seeking from Bank of America from $863 million to $2.1 billion. Seriously when will someone step up and ask them to change the name of the bank. B of A claims they should not be responsible for the irresponsible behavior of Countrywide for their role in the “hustle” loan. You bought them and reaped the benefit of their accounts that you made money from. So now you need to pay the price. The other was an article begging the question are we topped out on real estate value increases? The level of the increases has been slowing and while year over year has seen significant progress the month over month is now struggling. Part of this may be attributed to bad weather but again I believe that since we can only lend so much based on income and expenses the values will only increase along with incomes. It is a simple math quiz.
Today we are here to discuss what is next. Where do we go from here?
Please join us live at www.wbcb1490.com for the open discussion about the opportunities that are available to many who may not know they are there. You cannot get the answer to a question you have never asked. We are here to help answer the questions.
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.