MoneyWise Live | August 10, 2018

Mortgage Market Review with Guest Dale Vermillion

Show Notes

The economy continues to do well and that’s easily seen in the housing market.  There are more buyers than there is inventory…which tends to push up the price of homes and…. make mortgage professionals very happy.

On this edition of MoneyWise Live, we’ll talk mortgages in the first half of the program with Rob West.  Also joining the program - a guy who actually understands all that fine print you just signed but didn’t read - Dale Vermillion on MoneyWise Live.

We’ll talk mortgages in the first half of the program with our host Rob West and a guy who actually understands all that fine print you signed but didn’t read - Dale Vermillion.  Dale is the President of Vermillion Consulting and is a sought after leader in the mortgage industry. Over the last twenty plus years he’s trained, equipped and consulted with over a million professionals representing 450 companies.  He’s also the author of Navigating the Mortgage Maze - The Simple truth about financing your home.

Dale Vermillion describes the current mortgage market including:

  • State of the Real Estate / Mortgage Market
  • Tips for Purchasing a Home
  • How to approach a lender – what to look for (Proverbs 24:3)

Next, Rob and Steve tackle listener questions at 800-525-7000 and via email to on a variety of topics:

  • If you recently filed chapter 7 and currently bring home around $5000 per month, can you still successfully find a lender who will work with you?
  • If you have a home that you owe $30,000 and are scheduled to pay it off in 6 years, how much should you pay it at per month to finish it in 3 years instead?
  • If you're about to receive a $20,000 inheritance, what should you do if your husband wants to buy a new car with it and you disagree?
  • If you're on track to buy a home next year and shopping lenders that say they'll sell the contract to a third party, what are your options?
  • What are the downsides to getting a reverse mortgage?
  • If you purchase a home and refinance later, is PMI still necessary?
  • How can you be wise in writing your will to keep from damaging the beneficiaries?
  • If you want to give a $15,000 gift to help your child, is there a benefit in breaking it into pieces or should you just give it in one lump sum?
  • Is it OK to wait until the end of the month to tithe for the whole month?
  • How do you know how much a home you can afford?

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