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KMBZ>Audio & Video on Demand>>Life As You Own It 1.3.14 Segment 3

Life As You Own It 1.3.14 Segment 3

Jan 3, 2014|

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  1. Life As You Own It 10.30.14 Segment 1

    Audio

    Fri, 31 Oct 2014

     

    retirement planning found at 10:58

    five years ten years twenty years. Take a look at your general retirement planning and they knew it. Make your financial decisions based upon that working in Q a sensible plan. Unfortunately with mortgages what most
  2. Life As You Own It 10.30.14 Segment 3

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    Fri, 31 Oct 2014

     

    craig miller found at 3:32

    this. Break in wyandotte Michigan ominous unique little known if not completely. Unknown effect for our listeners that is where I was born interest in. All right so so what's the fact frank that's where you're down one point 01 point early in Brett by Detroit there's so get through it you gotta all right frank you've probably. Gosh maybe you can drive by the birthplace of Craig Miller the guy I think his wyandotte how's that that regional hospital there's south Detroit maybe. OK so let's talk about your first of all your comment about your budget being tight frank chemists say. You gonna I wanna stay. He may be able to refinance to save money I don't think you're refinance and save enough money considering in a tight budget you don't wanna go shorter term. Mortgage in fact you could find yourself being hurt by that. It sounds good to get that low rate folks this goes to all of the other being enticed by that low rate but if your budget is all tiger not saving enough for retirement you're actually cheating yourself. Out of long term asset growth and additional money retirement. Even though he'd be paying your house off faster you're given up something that you could be earning
  3. Life As You Own It 10.30.14 Segment 2

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    Fri, 31 Oct 2014

     

    building home found at 2:23

    are gonna. But your battery cell homer a new home or your building home from scratch is this a lot that goes into the focus on his let's face it that's where you go to bed
  4. Life As You Own It10.24.14 Segment 2

    Audio

    Fri, 24 Oct 2014

     

    interest rates found at 1:48, 2:48, 7:54

    May be conventional but there's going to be some significant adjustments to interest rates . In a situation like this you're gonna wanna have a significant down payment if you're trying to go conventional because most mortgage
    a little bit now you're able to get a little bit better interest rates you're able to get the mortgage insurance products that are out there. And and it's going to be more formal process remind them home now 700 above is is really ideally where you wanna beat. And we tell you there's adjustments 707 when he sat between a 7474. You know above typically 760 or higher. He would qualify for the lowest PMI rates if you're not put in 20% and you can get the lowest mortgage insurance rates. Just gonna qualify for the lowest interest rates . 74760. There are some minor adjustments and once you get under 740 even though somebody with a 725 would be considered good credit score . He will pay slightly higher interest rates may even an eighth of a point higher the somebody with a 740 some odd score. You're over 700 but not quite the 720. You're probably paying about a quarter point higher rate than your neighbor who might have that 74575760. Score how much is an impact. Q well a 200000 dollar loan now thirty bucks so month. And I overtime nets in and a so it's important maximize the scores folks into get your foot in the door and deeply wanna be keep in mind to use that if you have a 76 year our credit score . Or 740 or seven when he or anything in there. Government loans there's not an adjustment so once you qualify for getting
    ugly Chris or what's gonna happen well you got some real pretty credit score a threat to get through pretty Chris the war. Anyway that much of the southern accent housing you got a real pretty credit score I don't know which your hand what's that mean mighty sale like that. Because I'm from the south right so all it does happen well we get this question a lot mark and you've got the answer what's it gonna be the effect with that. Lower spouse score well it is going to impair your ability possibly be at alone and it's definitely gonna hate you or interest rates they're gonna take the anyone who's gonna take the lower. Median score some median is gonna be that middle score. So if you've got to if you personally have a. 76740. And a 750. Your mid score is 750 if your spouse has a 68630. You know 610. His or her mid score is 630. So that means they're gonna have to they're gonna grade you as credit worthiness of a 630. Credit score which is going to make you work. Deal not real attractive if you even qualify. So yes it can edit what what
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Automatically Generated Transcript (may not be 100% accurate)

Life as you own -- flat you don't have drivers aren't you glad you don't own library. Like buffer zone -- Again that's our next -- admit Nextel are abuzz noting -- arsenal it believes Craig Miller on this the final segment we hope you've enjoyed. What is the inaugural show -- 2014. And we want you to come back again so please give us your feedback what would you like to hear us talk about. And you know maybe we'll consider that an NHL it was during eight under point 24664. Or I should as she does an email. Questions that life -- joining Docomo are ranked four we took the break I was right went off. Money magazine set top five second city's retiring and and remember those are the ones that are. -- our cities that are 15500. In population. And these. These are based upon their affordability and some of the amenities -- a rally North Carolina Pittsburgh Pennsylvania gave you some of the details on those Lexington Kentucky population 300000. 29% of the population is over fifty. Median home price 162000. Rental is 900 box and the affordability index is 88. On the kind of the pros of like -- in -- -- team education and affordable downtown housing. The cons are limited arts venues and a small airports never flown in Lexington Kentucky you. Can't say that I haven't honestly so is it such you're such a big guy and it's a smaller airport that's our rights saint Petersburg Florida I'm dig in now when and folks if you listen to the shell for. It's been on for now over five years but if you listen to show before forgot the last 45 years would insane if you -- piece your beach front property to a beach -- property. The last five years have been the time to buy it's quickly appreciation in real estate in Florida for those each front or beach you properties is. On the upswing. War very quickly but say experts still is -- a fairly affordable place to live. Average the 39% of population is over fifty so it's a big. Big target market for Craig also the company did well -- the -- is 137000. That's pretty affordable. On average rentals -- thousand and the affordability index is 94. And my favorite on the list Boise Idaho. We've yet to be like I likes me some Idaho my Fam my wife's family is from Idaho and I've. Just spent a week up their over the holidays and and and love Idaho the very beautiful reassuring -- you where you weren't for years I Idaho. -- that sure does and appoint as an arrow pointing to my right. And of course you're always on the left so I I don't know where that's OK so loud it that. Fifty plus percentage is 32% average home price 137000. Rental -- box and affordability index is an off the charts. 94 folks. I looked at some of the pros are wide range about -- activities I can tell you it's beautiful mountains everywhere walking trails on that good health -- the cons are. On its not racially diverse cold winters prices -- are high so Craig rule quickly I want to mention it's if you go to the website you can now work. If you do we put on your home. And you left maybe need some resources were gonna -- some options were on the website -- what your options are if maybe not yet delinquents. Falling behind her or think you're gonna fall behind we've got this worry it will company takes a -- we overthrew yeah we will cover that men and -- we wanna make sure that you also. Obama understands that there are some great tools Rihanna on the Internet become a -- have all the facts the cool tool of the week. This week is they rent vs buy calculator that allows for most if not all the -- important variables this is tested by Craig and I. -- -- -- Myself. -- That you need to make the right decision for rule likely be the largest investment of you were life -- to what. Trulia dot com. -- slash rent vs buy folks check it out was -- -- on the site that's right folks in and really there's a lot of variables in there I encourage you work with a certified mortgage planner of go through this if you crow -- homeowner. And you're thinking of buying it. You can even put in the opportunity cost associate with the down payment if you rent vs buy it's the best one that I have found on the web and there's a lot of them out there. So check it out folks are Craig nothing I do dismantle people all the time and haven't used the tool which and in using the checked it out. It's super any folks in there is Samantha you're missing if you think you're just comparing payment to payments would definitely check it out. Next week bill will cover. We talked about. One thing for sure those of you were struggled through your mortgage we'll help you figure out ways to potentially get out of that situation and will update you on those refinance options that you may have been -- you can go through the break even formula for those are first time flyers. You want this tune in for the show. -- anything else. I would say happy new year to everybody up to tune in next week -- -- and -- think. Payment.

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