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 peterbuchsbaum.com.
Please join us live on the web at www.wbcb1490.com or on your FREE app Tune In Radio from 9:00am to 10:00 am every Friday.
Last week we were discussing the current market trends in our local area.
This week’s news was mostly about the Federal Reserve finally tapering their bond purchase. There was some news that was related to real estate and mortgages. There were several reports that showed upbeat news. The housing market index was up 4% to a recovery best reading that ended a three month decline. Housing starts were up 22.7% in November and recorded a number north of 1 million units. Existing home sales were down 4.3% for the fourth straight month. The silver lining is that while the prices were down month over month they were up more than 9% from last year. Richard Cordray (head of the CFPB) just announced that Ocwen loan servicing was fined $125 million dollars. They were also ordered to reduce the principle balance of underwater mortgages by $2.3 billion. They were cited with willful misconduct that cost 185,000 customers to lose their homes. After all of the recent fines how could anyone argue for deregulation? More than $100 billion in fines and I still hear that the requirements are too stringent. C’mon man!
Today we are here to discuss the confusion associated with homeownership paperwork.
Please join us live at www.wbcb1490.com for the open discussion about the opportunities that are available to many 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.