Episode 028: Payment Shock and ‘Oh Crap!’ Mortgage Mistakes

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On the show today:

Carrie Weinberg – the very first winner of the Money Peach 500 Challenge. She talks about her experience with saving $500 in a month and what she plans to do with the $500 she saved AND the $500 cash she just won!

 

“The mortgage is one of the most complex financial transactions out there. You need to be educated on the whole situation, know all the moving parts, and what to look for. Don’t leave that to just anybody.” – Justin Haines

 

Justin Haines – from ElectricLoanOfficer.com explains mortgages, refinances, private mortgage insurance, and why it is important to have a trusted loan officer before you make the largest expense in your lifetime; a mortgage.

Now, I have a few questions for you all…

What are some of your questions you would like answered on the show? Simply leave a comment at the bottom and let me know or you can contact me here and ask anonymously.

Are you enjoying the podcast? If you do, would you be willing to leave a review for the show here? The more reviews the podcast receives, the more people will learn about it!

 

Mentioned in this Episode


Money Peach $500 Challenge

Mortgage Calculator

Sojourner Center

Contact: The Justin Haines Team

Electric Loan Officer (Justin’s Blog)

Awesome Money Course

 

Show Notes


The Money Peach $500 Winner Comes on the Show [1:10]

Justin Haines Comes on the Show [6:29]

Justin’s Pain as a Motivator [11:13]

Payment Shock for the New Home Buyer [13:26]

Private Mortgage Insurance [17:11]

Adjustable Rate Mortgage (ARM) Breakdown [20:02]

Local vs Big Bank [22:50]

 

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