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Welcome back to the velocity of money this is Michael J. Barnes and you're listening to KFNX
1100AM Arizona's news talk leader do not forget velocity financial is a full service mortgage firm in
Arizona. We are local firm, and we've been around for a very long time. And we are here to help you.
For more information about velocity financial any of the FHA financing, questions that you may have
or Brett Fallon America's best financial advisor, and then of course we have Dan Havey back with us
again For more information call 480 velocity. Now we were talking in the previous segments about the
current economy and the pitfalls. Let's talk about that more deeply, these jobs numbers. What we
make of this?
You know, it is an interesting point, I keep hearing the media spin that this is the next Great
Depression, talking about bread and soup lines and free government cheese and all that kind of stuff.
That is absurd to me, the actual job less number that was reported before the end of November for the
past month reached a higher level for us as a country of 6.7%. There were 530,000 jobs lost
during that month. But when you put that in the context of the 6.7% on to other historic recessions
that number is still quite low. Yes it's tough I get that
But we were riding high for so long that we tend to forget that and think this is as bad as it is
Yes we got accustomed to job creation and things that go along with that and this euphoria existed in
the United States for decades. And that's fine, these are economic cycles that will continue to happen
into the future. This is nothing new as is not a new place for the United States to be economically
speaking that is absurd. This definitely is a slowdown this is definitely a recession. It might
even be in recession, but what people fail to realize is how resilient this economy is and what this
represents. This show is dedicated to the home buyer, mortgages, and real estate related. Well let's
put that into context in the first segment. Dan was talking about the effects of his book and what that
represents and what the median home price represents in Maricopa County specifically. So if
you take that data and start to look at the people who still have a job, still have the ability to pay a
mortgage, the buying opportunity that we need to address is real. So how do you end a recession in
the United States. How do you end a recession for you. You pay your bills you tighten your
consumerism up a little bit. So you are not spending money on credit or leveraging yourself but you do
buy a house which will be an appreciating asset. And I know everybody likes to talk about how
houses are never going to go back up value, really? That is completely absurd as well. Returning to a
little bit of a normal level is what we are experiencing and to put into context for the
listening audience. This is the time to consider a purchase of a home or consider a refinance of a
home. If you are in a struggling position, financially speaking there loan modification options and those
things that this show represents it's more about the truth of this spin that I am frankly quite sick of
hearing about everyday.
The reasons for why a year ago we talked about doing this radio show. And we executed
that you have been here for quite a few of the shows. And we talk about they all things financial,
and all things real estate we're kind of year to offset the median stuff, the stuff that sells. People don't
necessarily want to hear it, but it's kind of like a train wreck. You know you have got to look. And
so people listen in the case of media.
A perfect analogy
well, and one of the things that I deal with everyday. Unfortunately it's the flip side of what
you guys are talking about. I don't want to put a downer on this little party by
wait a minute. Are you talking about the doom and gloom did you bring that with you
yes, I'm the one to cause the market to crash one of the things I think is really important to talk to
people about is the many many different ways that we can help people who are having problems with
their homes, who are having the foreclosures filed, who are behind in their payments, loan modification
of course is one of the ways, Short sales are another way, even something as simple as giving one of us a
call bouncing some ideas off of us about what you have going on. What is going to happen if
unfortunately I am going to lose my house? What is the happen after that? How do I clean up my credit?
Things like that. And the other day, I was going through a bunch of materials and I found something
that's becoming more and more prevalent. Out in the courts of America today, just for people who are
being foreclosed, to let you know this might get slightly complicated, but all you need to know is
on, you can go to my website mortgageanswerman.com . And there will be this
information under the banner of How to Screw the Bank that Screwed You. A very colorfull title, and
there is going to be a number of things on how you can
Where is this then again? Mortgageanswerman.com
Dan, but I should have cut you off 30 seconds ago we do have a link to the mortgageanswerman.com
from velocityfinancial.com website. Now that we know that. Maybe I will change that but for now
there is a link
I may be completely banned by Google for having this as well.