Do you know what escalation clause means? How about appraisal gap? There are some new terms that are making the rounds in the real estate world, so David Hochberg (the Vice President of Lending for Team Hochberg at Homeside Financial) joined Bob Sirott to explain what these terms mean, and why you need to look out for them. They also discussed how much damage a late mortgage payment does to your credit score and credit profile. David hosts “Home Sweet Home Chicago” on Saturdays from 10am to 1pm on WGN Radio. You can call him at 855-56-David, or check out the Team Hochberg website.
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