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KMBZ>Audio & Video on Demand>>Life As You Own It 4.16.14 Segment 3

Life As You Own It 4.16.14 Segment 3

Apr 16, 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)

Craig knock out those top five trends from the 2014 builders' show that you're CN. -- not a majority on the resign quick hook on us new remodel home builder whatever you -- rookie designer -- really was confused I'm confused myself are confusing and I'm still in a playoff five of those things in the next time on the anything with trending. The trends are right speedy appliances folks saw a lot of speedy appliances course we're always pressed for time this day and age and the more technology we get. The more people expect to be able to do everything -- five minute so. That includes cook your meals. In bit easier time there's a viking -- and you can get it firm looks like just a small ten grand that's G10 those things in Detroit I'm talking about for that in -- and -- so fifteen fat times faster and conventional ovens so hey. Tanks and he's Nigerian I could make some biscuits it's fifteen -- like in a minute. I'm mustard and right we should start of -- target company so then that we had greater connectivity course there's more and more products coming out to help you to kind of handle all the home -- maybe even away from home so. Between Wi-Fi between remote. This and that lights and heating and cooling and all the ways to control your home. Electronically out from this ray players -- money I mean you can yeah at the cost effectively still I might add that you can. You can watch you can. Handles security your house she could have remote cameras you watch on your iPhone you can control thermostat it's becoming. Smart homes are becoming very affordable to the middle income earners Smart home -- its mark. Shades of -- folks the color -- moving up on the list it's becoming the more popular palace neutral colors you're just talking to our friends there ago grave they say that's -- the number one color for bathrooms in 2014 bathrooms in your hair. That's right and center hair in the bathroom I did find a couple gray -- the other day for the haven't -- here -- so I don't know. Mark your aging your brother China are right Smart fixtures so the term Smart appliances as it was it you know. The couple years ago started coming on -- talk about Smart fixtures. Whether that's Fossett's whether that's. You know lighting etc. so a lot more Smart fixtures are coming along in a high tech homes can't talk relevant with the other one -- The IG was winner was DuPont's Korea and Carrot Top -- embedded wireless phone charges that your phone on the counter you don't have to play -- -- -- -- just. That's you electromagnetic force -- your remark I guarantee you have that. Let's let cool stuff like that there's a kind of cool gadgets -- up for yourself but anyway high tech homes are removed once again in -- cool technology stuff so all right tactics. What's -- Detroit for a thousand bucks Greg what do you guess there's a lot of things to do Detrick for thousand dollars of teaching in jail -- tigers games that's nice meal all. -- on you can also. You also purchased a house can bid with a thousand dollars part of its battle against blight. The city of Detroit is develop the website auctioned off fifteen vacant homes for opening bids of 2000 bucks at the rate of one -- property per day the homes -- part of inventory of 161000. Vacant homes. The city owns all of them the result of tax lien. Foreclosures folks so it might be an opportunity for you to become a landlord now. Make sure you look at the clock is just as you own a home cheap doesn't mean that it may be a good investment is to have someone that's willing to move into the home. So but opportunity. Is -- Hopkins and Detroit thinks that this might be the way to do it and I want to argue with -- OK also crank. Our last minute business when Wall Street becomes a landlord yeah. So in that -- just like the city of Detroit is an acid gonna landlord but they took on 161000 properties a lot of urban court lot of cities with large urban populations have done the same thing. But Wall Street found opportunity as -- the housing market was in shambles it started scoop it up properties re modeling them mini these properties and then turning human. To rentals. Now that can be a good thing because it scooped up the inventory witches is a good thing for the market which in turn. Pushed up prices some but the reality is the investment property in those is we seen the turn in the housing market. It may or may not be good investment for your investment. Dollars so what does have a Wall Street well they put a lot of money into the communities which is good -- hopes its a good thing. They drive up the cost of homes which is a good thing they take a lot of you know properties that are in disrepair off the market and ultimately if you're an investor in the market outside a real estate. It may not be good play for you because these are not performing like they would have thought they are yeah all right. That's an enemy another installment of -- visual on it we hope you join his next weekend hope he had some -- -- tell your friends and family it's clear that area oaks.

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