Navigating the Mortgage Maze (with Dale Vermillion)
Howard Dayton and Steve Moore welcome mortgage expert, Dale Vermillion. They answer listener questions at (800) 525-7000 and MoneyWise@Compass1.org:
- "What are 'discount mortgage points' and is that a worthwhile expense?"
- "I've been turned down for a mortgage a couple of times due to an insufficient credit score - is there a lender who would be more likely to approve me?"
- "I'm 'underwater' in my current mortgage - should I just let my house go into foreclosure?"
- 'How much does my job longevity affect my chances of getting a mortgage?"
- "What cautions should I be aware of when looking for a mortgage?"
- "Should I sell a rental home to help me get out of debt faster?"
- "Should we borrow against our Home Equity Line of Credit to pay off another debt?"
Mentioned on today's program was Dale Vermillion's book, 'Navigating the Mortgage Maze' and the 'HARP' program (at MakingHomeAffordable.gov). Also mentioned was the Compass small-group study, 'Navigating Your Finances God's Way' and the Compass Money Map. Be sure to check out the Compass website (www.compass1.org) for a complete listing of helpful resources and radio archives.
Thanks for your prayers and generous financial support which allow us to keep MoneyWise on-the-air!
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