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 definitely targeted to this show. There was a lot of real estate news as the end of the year is moving toward us quickly. First there was a great article on “the American Dream” myth or reality. The United States is on the lower end of the likelihood spectrum that you will move out of the socioeconomic status they are in. The dream is that we can always move up but according to the article the US is the least mobile of the advanced nations. Education is the key to moving up. There is also a big push from many in the industry to urge Congress to extend the Mortgage Debt Relief Act. At the end of this month the act may expire and thus those who modify their loans or are foreclosed upon will owe tax on the unpaid loan. Finally we have gone from the Fast and Easy 3 page mortgage application to the new normal of on average 500 pages. The need for more fact finding goes into another gear on January 10th. As a borrower you need to be prepared. The process will simply feel better.
Today we are here to discuss the new HARP 3. This is a new opportunity to help underwater homeowners and I look forward to being able to help more people.
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.