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. Continue reading Escrow Accounts

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. Continue reading Mortgage Plans: Biweekly

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. Continue reading Buying an Investment Property

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. Continue reading Market Update

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.

Continue reading Home Scouting Report Can Make The Difference On Your Next Purchase

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. Continue reading Debbie Smith, Home Ownership Programs Director for NECAC

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.
Continue reading Stephen Schultz: Amusement Park and Pedestrian Safety

Stephen Schultz with Schultz & Myers Law Firm: Firework Accidents

stephen schultz show card

This year there have been quite a few serious firework accidents some of which were fatal. Stephen Schultz joins todays show to discuss what your homeowners insurance covers if someone gets injured by fireworks on your property, as well as, how to handle many other highly possible situations while celebrating with fireworks.

For more information on anything you hear in Stephen’s interview be sure to contact him he will be happy to answer any questions you may have regarding this topic.

Continue reading Stephen Schultz with Schultz & Myers Law Firm: Firework Accidents

Greek Debt Crisis: Greek MPs to Debate Controversial Reforms Plan

greece_debtGreek MPs are to debate new proposals sent to the country’s creditors with the aim of getting a third bailout and averting a possible exit from the euro. The plans contain controversial elements, including pension reforms and tax rises, that were rejected at a referendum called by PM Alexis Tsipras. The EU and other creditors are studying the plans before a summit on Sunday. France and Italy welcomed the proposals but Germany, Greece’s biggest creditor, warned of little room for compromise. Continue reading Greek Debt Crisis: Greek MPs to Debate Controversial Reforms Plan