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KMBZ>Audio & Video on Demand>>Life As You Own It 7.1.14 Segment 3

Life As You Own It 7.1.14 Segment 3

Jul 3, 2014|

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  1. Life As You OWn It 9.18.14 Segment 2

    Audio

    Fri, 19 Sep 2014

     

    bathroom remodel found at 4:06

    account refund you might have the funds freed -- to do that bathroom remodel . Well also going to have potentially lower than interest rates on the mortgage but. Due to cash out loan based on what you describe is going to be tough still looks like
  2. Life As You OWn It 9.18.14 Segment 1

    Audio

    Fri, 19 Sep 2014

     

    mortgage rates found at 5:14

    and segment nice and better -- Low interest -- -- -- or interest rates go up could. Mortgage rates mean going into law there weren't cheap interest rates very carefully at night is human minute. Now here in this week's rates with create new. I'm never really crazy as that and never getting now does this week's rallies with -- -- Mark your well you did not only so I don't know -- out today. When year recording damage to going to be a little bit better our rights of folks we did bring this to you as part of our weekly fair every week on the show we're gonna tell you about it. Interest rates where they've been for the prior week where they may be headed. This is the national average so this is the general guideline for -- It isn't the exact three you personally make it quote on your exact scenario but it is a guy like court. So this is based on a 200000 are average loan amount 20% or more equity somebody was excellent credit. There are a number of factors that affect interest rates folks. Some of those factors of course trigger credit scores the equity melt the you have whether to purchaser refinance and sometimes
  3. Life As You OWn It 9.18.14 Segment 3

    Audio

    Fri, 19 Sep 2014

     

    led lights found at 1:58

    in the hot air out of the house keep it in the house . Tax sometimes I'll come home with little chill in the kitchen my -- -- the oven on an open. That is not -- And so I okay now won't I won't go running for the map yes it has happened to like us really -- -- into turn off non. It hasn't stick my hands and your warm month not and then the last one is decorate with LEE. LED lights for the holidays I agreed they might be slightly more expensive replaces old -- but they will use up to 75%. Less
  4. Life As You Own It 9.11.14 Segment 2

    Audio

    Fri, 12 Sep 2014

     

    buying homes found at 10:29

    the market to purchase a piece of real -- by home started buying homes -- so. Those lists a lot of assets and those who would normally be buying in a strong market were not necessarily
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Automatically Generated Transcript (may not be 100% accurate)

All right folks we're back. Life is gonna arrest and have the final segment remember. If you just tuned in elect as you know for the first time this weekend well it's time to do it again next weekend. Mark your calendar to remind you to tune in or better yet subscribe to the podcast. That I teams' checking out. Also you can. Always get on FaceBook Twitter all that follow us on their good YouTube watch the video watching archive videos on YouTube. Watch multiple ethicist and your entire Saturday. Don't got -- long don't do anything fun -- fruitful. Just sit on the couch with yours little iPad or computer or whatever and watch like -- and episodes over and over and over. Please call us if you got questions giving the answer -- gonna scenario question this situation you're in need is one I know him what -- these guys did. Here's the phone number 802706425. But in your phone right on your refrigerator with a permanent marker -- like a white refrigerator. Leave it on their forever for the next people who live in your house included. 800 G-7 a 6425. -- mark that down because some day you're gonna be in the middle of the transaction you're gonna know what these guys tell me if all right mark if we have time I'm gonna try to give a little. Breakdown for our folks that are maybe 1015 years away from retirement thing you have that house paid off before than whether or not that may mean that you could I give a lesson that. I don't greatest power -- that's and that's the other doesn't talk about this -- It's common it's it's a more common counseling session that I find myself in these days than ever before. I've got folks in the 404550. Year old an older Rangers say hey. My goal is never paid off home -- retire at 65 for example folks this is say your fifty years -- You got fifteen years left on your mortgage. And you're thinking how can I have my house paid off with it or what's it going to be like with the relief factor going to be. When my home is paid off or the just say you're someone -- 50556065. You have the money to pay off your remaining mortgage balance right now. In your radio because you are retiring and you wanna write that check in with a big old mortgage payment. Well folks don't want you think about something. Where he's a 150000 dollar mortgage -- for example so you're. You are awaiting your fifty was fifteen years ago or you're 65 -- re -- -- -- today you think cabinet house payoff is going to be. The gateway to freedom. Out of all this heavy duty days have so much more cash to work with and live off -- and take vacations and there's your screen kids with and so here's -- really works. If you've got to have fifteen years left on a bounce of about 250000 dollars you've got about 11100 dollar principal and interest payment. On 150000 our mortgage we don't know your house is worth just to say the national average like your home is worth in the 200000 dollars so range. You've probably got real estate taxes in the 3000 dollar a year range your insurance is probably about 12100 dollars a year. So your mortgage payment may be a total of 14100. In fifty dollars a month 1450 would be a pretty common total principal interest taxes and interest payment you're thinking yourself. May have -- have a mortgage payment to write that 15100 dollars -- government that being good shape here's what's happening. When you write that check in you pay off that mortgage or you finally get that thing paid off when you retire. You're still to be paying the majority of that payment. No he won't be -- checked we mortgage lender agreement that you're gonna write that check to the county. Tax assessor for your real estate taxes he gonna write that check your insurance company you're still gonna keep her home insured. In you're no longer going to be contributing to principal anymore on that payment. United -- the interest Johnson not to be contributing principle which is just moving money away you write that check from your checking account into your home equity savings account. So 150000 dollar mortgage at a fifteen year term left over. That 11100 dollar principal and interest payment for 600 dollars and its principal in about 500 interest. If you're still itemize in your tax return you're probably getting anywhere from a hundred dollars a month may -- even more back in your tax deduction on their mortgage interest. So from that 15100 dollar mortgage at 14501460. -- so my debt. About 400 dollars maybe 350. In a lot of cases is what you actually net in savings every month. When it's also and announces -- -- the rest of it was -- money your paint yourself in the form of the principal payment or to county taxes and insurance so. When it's all said and done. Don't count on that paid off house being the difference between the couple retirement not have your retirement plans set up to whether you pay your -- off or not you're set. And you may one arbitrage a 150000 does that that you could earn more than 400 dollars a month. Fantastic information Craig and you know what next weekend we will go over -- mortgage planning. Why it can help you or how can help you really set the sales on your financial boat. Where your case financial ship. Yet they chipped all right folks like these you want it thanks for hanging out -- and remembered to at stake --

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