this week real estate expert and fox news contributor bob massi is hitting the road to answer your questionsom, as you can see, you're there at the yacht club and i can see the yachts behind you, bob. >> it is beautiful. it's the royal palm yacht club in fort myers. they've been wonderful. steve, what we're talking about right now, this part of the presentation here, is what we call wealth preservation, which is a fancy word for saying asset protection because one of the things we've seen in the last couple of years, people are concerned about whatever they have saved, how do they protect it? how they can't use it so they could at least have something to look forward to the future. this is part of the rebuilding part of the seminar to try to show them how to set things up legally that they are protected. there are certain things you can and cannot do. you can't fraudulently convey things. there are certain properties that are exempt and forgetted. we're gotting into that. it's important part of the presentation and it's a common problem where people are so desperate, they just dump out and t

bob massi has the explanation why.owners coming up next. >> steve: no cards, no candy or teddy bears. it's a valentine's day ban. why? because not everybody has a valentine. but we love you. we'll explain oh! progress-oh! [ female announcer ] with 40 delicious progresso soups at 100 calories or less, there are plenty of reasons people are saying "progress-oh!" share your progress-oh! story on facebook. (announcer) at scottrade, our cexactly how they want.t with scottrade's online banking, i get one view of my bank and brokerage accounts with one login... to easily move my money when i need to. plus, when i call my local scottrade office, i can talk to someone who knows how i trade. because i don't trade like everi'm with scottrade. me. (announcer) scottrade. awarded five-stars from smartmoney magazine. morning because my back hurt so bad. the sleep number bed conforms to you. i wake up in the morning with no back pain. do you toss and turn? wake up with back pain? if so, call us now. you'll learn how the sleep number b

real estate expert bob massi is here to answer those questions.ht. let's go. i've tried to sell our house for over the past three years, with you no success. we will like to give the house back to the lender. my mom has $100,000 cd with my name and my brother's name on it. could i lose this money if our house goes back to the lender? >> it depends if, in fact, the lender ultimately forecloses on the house. if they live in a state that's what we call a recourse state where the lender could sue them for the deficiency, the difference between what's owed and what the value was and they get a judgment, yes, that money could be vulnerable. but that's a long way away. they need to find out if they live in a recourse state and then you can determine how vulnerable that money is. >> brian: allall right. another one, i heard your segment on the guidelines start not guilty june this year in preference to the fha mortgage insurance. if we refinance, will the new law apply? >> okay. last week we talked about fha, any house you buy, brian, after june of this y

luckily we have real estate expert bob massi to explain it all for us. bob. >> good morning, gretchen. >> gretchen: all right. so let's talk about what this will do, increasing monthly mortgage insurance by 10 basises points. >> this is a real major change i want our viewers to understand. there are several things i want to talk about. first of all, as of june of this year, june 3, any home that's purchased after it, if it's fha insured, now your mortgage insurance, gretchen, will be the life of the loan, which is a major change 'cause it used to be the once you get 22% equity or five years, the north insurance is gone. that's number one. number two, you just mentioned, the bases points on our existing nma will go up as of april of this year. about what they call ten bases points. that's where -- more dots homeowner. the last thing, as it relates to jumbo loans, they're going to increase it, from 3.5% to 5%, down payment on jumbo loans. these are things that our president just said. it's making it difficult for young people to get into homes. guess what?

"fox & friends" real estate expert bob massi will be in florida this week. join bob in person as he hosts a free seminar this thursday, february am from 6 to 9:00 a.m. at the royal palm yacht club. he will answer all your housing questions. to those who show up. it's completely free. you need to register by e-mailing rebuildingyourdreams at foxnews.com. struck a chance to be on "fox & friends" as well. >> steve: coming up tomorrow, lisa gibbons and navy seals for hire as nannies. maria molina will join us in the after the show show. why do i think we should redo our set in shag carpet? >> brian: i don't know. something to do with the guys behind you. if you have to run from the tv, run to the radio. kilmeade and friends gets started in three seconds, two seconds. >> gretchen: have a great day. bye, everyone. martha: a small alabama town's nightmare is over after being held hostage for 7 very long days. a little boy is with his mom this morning. great news to report today. i'm martha mccallum in america's newsroom. gregg: i'm gregg jarrett. the little boy is s

>> gretchen: real estate guru bob massi tomorrow seminar from florida. register, rebuilding your dreams at foxnews.com. >> steve: bobby dean and maria in the after the show show. martha: sounding the alarm on america's spending problem. the non-partisan congressional budget office says we are in for a massive and unsustainable increasing deficit if we don't get a handle on entitlements. good morning. glad to have you with us. gregg: the cbo is saying it deficit will go down to $840 billion. that's the first time it will drop a trillion dollars under president obama. martha: but with baby boomers retiring at the rate of 10,000 people a day. entitlement spending is set to explode. stuart, as we pointed out, there is a lot of enthusiasm that we won't rack up a trillion dollar deficit. >> reporter: the headline was all about the deficit is going to be below a trillion dollars. that's great news. the bad news and there is a lot of it. the next 10 years medicare will cost $1 trillion a year. obama-care subsidies will total nearly a trillion dollars. the cost o

more with bob massi down in florida on foreclosures. have a great day. >> brian: see you on radio. martha: we have breaking news on a very dangerous situation unfolding in california. there is an ongoing manhunt outside of los angeles. this is brand-new video that just came in to fox. former lapd officer expected in a deadly series of shootings. they are urging people to call 911 immediately if they see this man. he's christopher edward dorner. good morning. i'm martha mccallum. rick: i'm rick folbaum. he's wanted in connection with the murder of two people. police say he also shot three police officers, killing one of them. >> we are asking for the public's help in finding him. we have strong cause to believe dorner is armed and dangerous. martha: police say he promised more violence on a chilling manifesto shortly before this got underway. >> reporter: dramatic events here in california. the man believed to have shot the officers was named last night by authorities as a suspect in the double murder of a basketball coach and his fiance in irvine. they were found shot in their car

our legal panel, defense attorney and bob massi is joining me right now to shed their insights and perspectiveher is not saying why he allegedly brought the weapons to school in the first place, but there is speculation i've just discussed he may have been motivated to do so upon hearing discussions about arming teachers and other so-called good guys with guns in the aftermath of the school massacre. could that possibly be a defense strategy? >> you know, kelly, that cop was right except for concealed carry permit holders who can bring firearms on to campus without exception. we don't know if that is case. despite school policy to the contrary he is not violation of state law and should not be prosecuted. if he did not have that permit he may find a defense of necessity. if he felt there was imminent threat to him on or his children and he was carrying that gun to protect himself or the children, that may well be a defense of the case. but some of some of these teachers are afraid the potential for a repeat of that horrible incident. he may have wanted to make sure his kids were safer instead

tomorrow michelle malkin, bob massi and much more. have a great day. bill: packed show there and packed show here. breaking news from overnight. eyewitnesses saying it was like a earthquake. a gas explosion rocking a restaurant in kansas city, missouri. look at the flames inside. happened at the height of happy hour. good morning. i'm bill hemmer. welcome to "america's newsroom." good morning, martha. martha: good morning, everybody, i'm martha maccallum. police with cadaver dogs are searching through the rubble. they're looking for possible victims it. we're getting reports at least one person is unaccounted for this morning. more than a dozen people were rushed to the hospital. at least three of those are critically injured. bill: want to get an update from the scene. mike tobin live from kansas city. mike, what do we know at this point? good morning. >> reporter: what we know everything is stopped related to investigation. i will back out of the way. the reason is everything has stopped is so the cadaver dogs could be brought in. city leaders held a

linda he have beens will join us, bob massi and john stossel. >> gretchen: have a fantastic day, everyone>> brian: bye. bill: good morning, everybody. want to share a special moment with you now. a final farewell to the faithful. pope benedict xvi addressing an enormous crowd in morning in st. peter's square for his final time. we say good morning you. i'm bill hemmer. welcome to "america's newsroom". martha: good to see you, bill. i'm martha maccallum. what a emotional and historic moment we saw play out today. it has been 600 years since the last time a pope made this decision to step down. more than 150,000 people filed into st. peter's square to be part of this moment to witness it live. pope benedict going along in the pope mobile there. he blessed some of the children in attendance. there is some of that. boy, a lot to unfold. bill: over the next 24 hours, martha, he will be a former pope. 8:00 local time tomorrow on thursday, the pontiff taking, look at those pictures. reflecting on the big moment as his life and his church enter uncharted waters. >> translator: the words that reso

"fox & friends" real estate expert bob massi will be in florida this week. yacht club. he will answer all your housing questions. to those who show up. it's completely free. you need to register by e-mailing rebuildingyourdreams at foxnews.com. struck a chance to be on "fox & friends" as well. >> steve: coming up tomorrow, lisa gibbons and navy seals for hire as nannies. maria