Summary: Finding Our Way Through the Mortgage Maze (with Dale Vermilllion) – Howard Dayton and Steve Moore welcome author and mortgage consultant, Dale Vermillion, to help explain the terminology you'll encounter when applying for a home mortgage. Then they answer listener questions at (800) 525-7000 and MoneyWise@Compass1.org: "We're retired and debt-free, but don't have a lot of buffer - if we were to need money down the road, would a reverse mortgage be a wise choice?" (Dale mentioned checking out 'reverse mortgage' info at HUD.gov) "I'm facing foreclosure - how do I respond?" (Dale recommended checking out MakingHomeAffordable.gov) "How is an 'index' used in an adjustable rate mortgage?" "Is it possible to get a mortgage with no money down?" Mentioned on today's program was the Compass small-group study, 'Set Your House in Order'. Be sure to check out the Compass website 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!
