Real Estate Reality Radio...JP Morgan Chase and the government.

Mortgage and Lending with Gateway Funding NMLS#133257

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

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So last week we were on our own discussing the new normal in real estate.

This week’s news was all over the economy and the Dow. That’s right the Dow hit a record yesterday at 16,009.99. All this amid some slow economic news but good earnings. The housing market hat a rough week with a weaker then expected builder confidence report and existing home sales were off again but the median price was up. The two reports that I found comical were the report that JP Morgan while they are close to agreeing on paying a $13 billion fine will be able to save a lot because of the deduction they can now take. C’mon man. Seriously. With all of the news pushing interest rates up there was an article yesterday that Fannie Mae just announced that rates have fallen. The news comes the day after rates actually rose a bit. Stop selling rate and let’s work toward fixing the problems. A bank is being fined $13 billion dollars and they save money by deducting the loss. This system makes sense to whom?

Today we are on my own to discuss the new normal again. I just saw a new opportunity to help underwater homeowners and look forward to being able to help more people.

Please join us live at 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.


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Peter Buchsbaum

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