Escrow Accounts

escrowAn escrow account is essentially a holding tank. During a real estate transaction, the escrow officer—usually a lawyer or title company representative—holds all the important documents and deposits while the buyer and seller work out the details.

The escrow officer makes sure the closing goes smoothly and everyone gets paid what they’re owed (including, of course, the escrow officer himself, who typically gets a fee of 1% to 2% of the cost of the home). After the closing, the escrow agent records the deed and title transfer that make the home officially yours. Most transactions involve a second type of escrow account, between you and your lender. Read More »

Mortgage Plans: Biweekly

biweeklyMost people pay their mortgage once a month. However, some lenders offer different payment options.
These two payment plans are often confused with each other, which leads to even more confusion over what they specifically entail. Read More »

Buying an Investment Property

bigstock-Inspecting-houses-7515839-1160x928Are you considering the purchase of a residential investment property?

In the studio today Doug answers 8 crucial questions that will help you as you plan to buy, when you purchase, and after you own your investment property. Read More »

Market Update

housinginflation

The price to buy or rent a home continues to climb even as there’s little price pressure elsewhere. The latest report on consumer prices showed that the year-over-year change in rent stayed at 3.5% in the March CPI report, data from CoreLogic show house prices have grown nearly 6% year-over-year. While prices on the housing side are strong, there’s scant inflation elsewhere. The CPI ex-shelter gauge has dropped 1.5% over 12 months. The drivers for house prices have been low mortgage rates, job gains and low inventories, while rent has nearly kept up, as tougher credit conditions after the housing bust have pushed some by choice or necessity into rental properties. There are signs however that rental price growth may have reached a peak after strong growth in apartment construction. Rental price growth over 12 months has stayed between 3.4% and 3.5% for the past five months, after climbing from zero growth five years ago. Meanwhile, the drop in energy prices and a stronger dollar is holding CPI down, even as some other prices pick up, including clothing, medical care and used cars and trucks. Read More »

Home Scouting Report Can Make The Difference On Your Next Purchase

home-scouting-appDoug Haldeman, Mortgage Strategist (NMLS: 298419) with Cornerstone Mortgage shares the free service with his listeners.

He discusses some of the benefits of the Home Buyer’s Scouting Report and how it is a great way for the consumer to shop for their next home or investment property.

If you are considering buying a home in the next 12 months be sure to visit the Home Search Tab above or you can download the mobile app on your phone.

Read More »

14 Step Plan to Transform Your Finances

managingmoney

Doug deals with people and finances on a daily basis. One of the things he has noticed is that very few people are taught how to manage their money. Frequently people admit to being so lost they don’t even know where to begin when it comes to money. On today’s show Doug and Tammie share a 14 step plan to help you transform your finances and better manage your money. Read More »

Are You Cheating Financially On Your Partner?

cheating-financiallyA record number of Americans are cheating on their partner or spouse, not with someone else, but with money.

From secret credit card purchases to hidden bank accounts, a January 2014 online survey by the National Endowment for Financial Education (NEFE) found that financial infidelity is on the rise. In fact, 35 percent of adults with combined finances admit to having hidden a purchase, bank account, statement, bill, or cash from their significant other, up from 31 percent in 2011. Thirteen percent of respondents said they’ve committed more severe deceptions, like lying about the amount of debt that they owe or even the amount of income they earn. Read More »

Doug Answers Listener’s Credit Report Questions

credit-reporthealthOn today’s show Doug addresses credit report questions sent in by listeners and gives great credit advice. If you’re looking for a mortgage and need professional financial advice reach out to Doug call/text (314) 472-DOUG (3684)

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Debbie Smith, Home Ownership Programs Director for NECAC

DebbieSmith-ShowcardDebbie Smith joins Doug in studio today to talk about the available assistance programs to help with your down payment. Listen in today at 4pm to see if you qualify!

Funds are released annually. Funds are limited and are on first-come, first-serve basis. Funds are reserved upon receipt of a fully executed sales contract. Read More »

Stephen Schultz: Amusement Park and Pedestrian Safety

waterparlsStephen Schultz with Schultz & Myers Law Firm sticks around to share his experience when dealing with amusement park and pedestrian injury cases and offers free advice to listeners about why it’s important to have uninsured motorist coverage.
Read More »

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