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KMBZ>Audio & Video on Demand>>Life As You Own It 2.6.14 Segment 3

Life As You Own It 2.6.14 Segment 3

Feb 6, 2014|

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  1. 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
  2. Life As You Own It10.24.14 Segment 1

    Audio

    Fri, 24 Oct 2014

     

    john mark found at 10:16

    its keep on keep it on him. All right we're back live John Mark McDougal that I joined by Rosa vote you're filling in for Craig Miller we thank you for hanging out with a as
  3. Life As You Own It10.24.14 Segment 3

    Audio

    Fri, 24 Oct 2014

     

    tax efficient found at 4:23

    have more complexity but you have more opportunity. To put things any tax efficient fashion into you were the state. And to you know that's all we want avoid tax man pass on the warriors take
  4. Life As You Own It 10.17.14 Segment 2

    Audio

    Thu, 23 Oct 2014

     

    investment properties found at 12:36, 13:08

    hearts go South Carolina called the hotline to ask I purchase cheap investment properties in the last year and a and a total of five properties now. Including my house I live. I had mortgages on
    it to work at a higher rate of return and what does investment properties are yielding. And ideally they were cash flowing before you got this inheritance if not need to sell it anyway. And if they were your major money there. Get this inheritance to work for you at a higher rate of return then now what's writing off that expense for those investment properties is costing him so. You need to go you need to stay stay stay stay invest that money work with the financial
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Automatically Generated Transcript (may not be 100% accurate)

Okay. Our friends we are back like this you -- -- its final segment -- devastating for about four more minutes don't go anywhere just sit tight. Mark is about to say a word here in a moment that we were eating your -- outs it would be bleeped out there right now what do you do that word RI is so what's it worth and a deal expected to close from more than ninety million the government of is -- contract to buy a Manhattan townhouse on east 64 street so ninety million dollars folks. Okay according to a Wall Street general or just a few things you could buy for ninety million dollars 2014 Rolls Royce phantoms. 160. Some odd cases of dome -- on. 20830. Breaks you know I could -- jump time and Quigley I don't know I know. I'm space flights with Richard Branson's virgin galactic 360. Of them I have almost everything they can't go to Richard if Richard Branson would go would mean -- I'd you know I'd I'd take the nineteen million from. Dollar and I would do the 360. Trips with. Richard Branson but he stayed in 2750. Trips across the Atlantic on queen Mary two in a queens grill grants duplex week. As one of those with 3750. Us what does what does what does look like. Has and I -- idea. Now and whenever I doubt in -- -- and right now -- whenever you duplicated the scene from Titanic yeah. You're on the Fries and a sign Dreamweaver is playing in the back pocket content sesame. -- and and here's a good went to 398. Years. At Harvard. Included -- board of the language. You don't whatnot and current inflation rates of college exactly OCR is that's just about as many years and it would take you graduate -- aren't exactly -- close I think the over under is 400 so I might hit it. A look at what's interesting is that they didn't take into account the increase in college expense annually year over year with that pace that were only now hey you're he's not hundred square here now -- or twelve years out. The average lifespan of myself. OK there you go folks get some advice for before we part he's gonna say to those it views who. Wanna be educated empowered in the mortgage process imply those facts and all that good information to saving the most money possible. Don't do what we see people doing all the time and looking to -- an extra eight to the point off perceive a couple hundred bucks on closing costs by getting on the Internet. In shopping around for mortgage hoping that some low cost price leader out there's gonna come swing in and save the day for you. These situations usually wind -- -- heart breakers will we see a lot. Is people are hung around for that little extra bit they can -- like their bargain shopping or something -- usually get a bargain shopping experience. I get calls from people every single week and say well this company at a Tel four near this place and that plays had never heard of before and family unit they're -- -- eight to a point -- even a quarter point. Lower than the guy that I trusted new locally and then sure enough my load in close on time I didn't I had to pay a fine for not close until the purges it was a big mess. Movers and rescheduled out of Canada. That it's -- reasons why you wouldn't wanna go that route folks. Usually you would you pay for -- if it's just about the rate alone don't treat your mortgage is such a simple commodity because a lot of times the serve she get the advice. Is it. Big crucial part of this whole transaction so be warned it's OK before we break we promised you look -- information from our friends at midwest professional insurance services. Okay insurance is by and large a mystery to a lot of people it's not that they don't understand what the policies typically cover. But it's a lot of little things can slip through the cracks prison did you know if your car were stolen. The personal items in your vehicle are not covered by Europe. Auto policy. They saw a -- -- inside you have a cheap yes 42 inch TV are scary one of those around and a 101000 dollar watch I know you've got one of those -- Mickey Mouse exclusive. Even with full coverage likely won't pay the replacement cost of everything stolen now. So folks make sure that you or insurance care here not only. Helps you understand what's covered and what's not. But hopefully they make sure they they they do it in a fashion that save you money -- -- the right coverage at the right price that's why we recommend midwest professional insurance services. And without endorsements make sure they know easily driver out expensive watches the city without color and 42 which TV isn't in your view. There's a common practice for you today and your grandmother's diamond collection that's right and we've got more information you can find on our web site. Why did you go to dot com and paying more things that you didn't know about it's what covering. Mean there's another installment of why he's running we appreciate you hanging out with -- -- long skate save and remember two things.

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