Bob McCormick

bob mccormick Bob McCormick Bob McCormick is the host of Money 101 weekdays on KFWB News Talk 980, 9-11 a.m. Money 101 is all about consumer and family finance and focuses on topics such as jobs, health, energy, taxes, travel, home, technology, the workplace, education, entertainment, investing, shopping and saving, just to name a few!

During his decades in the business, Bob has covered some of the biggest news events of our time as news director at KRLD in Dallas, as news anchor and reporter at KCBS and KFRC in San Francisco and for the last 13 years as host of news blocks and Money 101.

A Golden Mike winner for “Best Business and Consumer Reporting” for two consecutive years for Money 101, Bob also garnered a Golden Mike during the tumultuous dot com boom and bust. Bob has been the face of business news on the KTLA Morning News and on KCAL 9 in recent years.

Bob and his wife Ellen enjoy living in the Hollywood Hills and everything the Southern California lifestyle has to offer.

Money 101 with Bob McCormick. During the show, call Bob at (888) 539-2980.

Brenda Jackson

Bob McCormick,
I was listening to your news on 1070 am radio on December 29, 2012 about veteran benefits for their spouses due to agent orange and other illness. I was wondering if you could email me more information about it. My husband is a Vietnam Veteran and expose to agent orange.
Tim

I’ve LOVE listening to the show & have been wanting to ask a question regarding my current real estate situation:

I’m originally from California, but worked in Branson, MO for 6+ years. While domiciled in Branson, I decided to purchase a small 2 bed 1950 style home for $92K. The property is residential/commercial zone and barely appraised for the asking price at the time of sale. I bought it in 2006 on a stated income and lived in the home for 2 years before moving back to California.

I want to refinance into one fixed loan, but because I don’t have much equity into property yet, and it’s an out of state property, my bank stated they could not refinance at this time. I also qualified for the bailout refi; except for one thing… I don’t live in the property anymore.

I have never missed a mortgage payment & currently have renters in my property (same renters for past two years). I have two mortgages on this property. My first is a Chase loan of 70K, 30 fixed at 6.25%. My second is a $22K balloon loan at 8.25% payment through Wilshire loan (currently under BofA), which I’ll owe 14K at the end of term.

Is there anything that you are aware of that I may qualify for to refinance both loans into one? And which companies would you recommend I speak with? I’m presently employed and working in California. (Same job 4+ years. Annual income approx. 25K)

Thank you in advance for any advice!
Alice

A few months ago, Bob mentioned a website for kids earning money (babysitting, chores) or fundraising (Girl Scout project). I checked out the website at the time, but cannot find the one on web searches. Can you help?
Wei C Wong

10-15-2012 Trust lawyer. Answers were wrong. Question: Will joint tenancy property between Mom and Dad be reassessed on death of Mom. The lawyer answered: see a tax lawyer or cpa. CORRECT ANSWER SHOULD BE: REASSESSMENT FOR TRANSFERS BETWEEN HUSBAND AND WIFE ARE EXEMPT. Revenue and Taxation Code 11911.

Next Question: Mom and Dad have joint trust. Dad dies, can Mom change trust? The lawyer answer: No. Dad’s trust is irrevocable. CORRECT ANSWER: IF DAD GAVE TO MOM OUTRIGHT WITH NO CONDITIONS SHE IS FREE TO DO WHATEVER SHE WANTS. IF THERE ARE CONDITIONS SUCH AS A BYPASS TRUST SHE MAY NOT CHANGE PART OF THE TRUST. SEE YOUR LEGAL PROFESSIONAL WITH THE DOCUMENT.
Lynn

The topics I am most interested in are usually on one of the two mornings I am working and unable to listen to the show. Are there any online recordings of the show or podcasts I can listen to later? I am sure there are lots of regular listeners like myself who would love to hear show they’ve missed.

KFWB Staff

Hi Lynn,

Thanks so much for listening. Unfortunately, we don’t have show podcasts at this time.

Robert

Can property taxes in LA county be raised more than 2% annually when the same owner refinances their home multiple times increasing the loan amount from the original purchase price? The owner has never changed, however a spouse was removed from the deed on one of those refis. And can you please give me the name of a reputable property tax attorney? Thank you Bob, I listen to you every morning on the way into the office.
wira tjakra

could you please provide me with the name of the gentlemen that always talk about mortgages and refinancing on Bob’s show. I may need to contact him about my mortgage.

thank you!!

KFWB Staff

Jeff Lazerson

Specialties: Mortgage interest rates, loan qualifying

Phone: (800) 909-2668

Email: jlazerson@mortgagegrader.com

Website: http://www.mortgagegrader.com

Diane Beckman

Hello,
Enjoy listening to your show in the morning. You have had a guest speaker talk about refinancing your home. Can you give me the name and number of the guest. We are having trouble getting refinanced. Something about the HARP thing getting in the way.
Thanks
johnny

thank you so much.
johnny

Hi I was listening today about college scholarship but I can’t remember the name of the business you mentioned. can you kindly give me the info again? thanks.

KFWB Staff

Sure! It’s http://www.cityofcollegedreams.org.

Steve

Bob, Thanks for talking with Ford today. Very informative! I also heard you said you had a ’92 Explorer. Feel free to check out the Enthusiast Forum for Explorers if you ever need anything or have any questions on them @ http://www.explorerforum.com.
Eric

I was listening to Bob’s show this morning and interested in better understanding the FHA Streamline options. I am hoping to find a way to lower my interest rate and lower payments. What is the best way to begin this process? Do I contact FHA, a mortgage broker, or my current lender/bank direct (BOA)? Any insight or assistance would be helpful. Thanks!
Irving

Who is the best person I can talk with about Reserve Mortgages?
Bob

On yesterday’s show Bob was speaking to a gentleman about investing in gold. The gentleman suggested investing in the ETF GLD as a way to hold physical gold. An investment in GLD is not redeemable in gold in quantities of less than 100,000 shares, therefore, for most people GLD does not represent an investment in physical gold. There are also complicated tax implications with GLD. Bob might want to speak with someone more knowledgeable the next time he discusses investments in precious metals.