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!

Bob also does business reports on station KNX 1070, Los Angeles.

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.

51 Comments Below

share print

John Steenkamp
January 14, 2014 5:12 pm

Any change of a podcast in the future? Thanks! John

Pablo
October 23, 2013 11:29 am

Forgot to note the name of CPA to discuss taxes with he had on his show last week?

Your assistance is appreciated
Pablo Diaz

Frank in Palos Verdes
December 2, 2012 12:47 pm

Driving home from church this AM you gave out 4 great hints about interviewing.
Couldn’t pull over to write them down.
Absolutely on target
Frank in PV
Former sales dir of Newsweek in LA

mike
November 29, 2012 4:41 pm

Can you tell what the name of the company was last week that did the RE loans; you put the down payment; and then you have 6 years to qualify for the loan?

Thanks,
Mike

Tim
November 3, 2012 11:25 am

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
October 31, 2012 7:41 pm

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
October 15, 2012 4:49 pm

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
October 10, 2012 11:03 am

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
    October 10, 2012 11:07 am

    Hi Lynn,

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

Robert
October 9, 2012 6:33 pm

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
October 6, 2012 11:57 am

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!!

Diane Beckman
October 2, 2012 6:29 pm

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
September 24, 2012 1:09 pm

thank you so much.

johnny
September 24, 2012 11:19 am

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.

Steve
September 18, 2012 9:33 am

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
September 6, 2012 3:23 pm

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
August 26, 2012 1:27 pm

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

Bob
August 24, 2012 1:48 am

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.

Ezequiel
August 23, 2012 1:22 pm

I called today, what an amazing guy, but I couldnt really to what he said. My question was about Investing in property, I dont have a credit score or any income because im in school im 19. and he mention a company that would help somthing like nores ? Any one know?

Ellis Marcum
July 12, 2012 10:39 am

Several months ago I heard Bob McCormick talk about investing $100,000 and receiving $500 a month income. I would like to know more about this plan. Thank you . Ellis Marcum Orange Ca

Dena Roth
July 6, 2012 1:17 pm

I need the phone number of Gary Liberman whom you had on the money 101show talking about veteran benefits.
Please let me know number or e-mail address.
Thank You

Karen Rosiello
June 20, 2012 12:02 pm

yesterday you had attorneys on for apartment owner/renters, do you have the contact info on the firm for renters, the issue is eviction because of late rent. Tenant for 5 yrs.

Cherie
June 18, 2012 3:26 pm

I have a recommendation – I have come to really trust the input from Dave Ramsey (his show is on KFWB after Bob’s show). You will hear him talk about Endorsed local providers – he has financial adviser recommendations. Check out his website http://www.daveramsey.com and there is a link on the upper right section of his mainpage.
Hope this helps.

Marlene
June 12, 2012 7:23 am

What is the best way to choose a financial planner/advisors….one that is NOT tried into profit(commissions) to any of their recommendations.
Do you have a list of names your recommend for different areas, such as Riverside or San Bernardino County.
How much should we expect to pay, is the charge per hour or flat fee for session.
Is there a recommended seminar of a good planner(s), again that do not have personal gain from whatever plans/products they present. Thanks for help with this matter. We are getting nervous, we have very little retirement saving and now that the stock market is taking a hit again, we are losing every month. Again thank you very much.

Cherie
June 2, 2012 2:26 pm

I wanted to check some facts- A few days ago on the show, Bob mentioned that companies hire college grads and pay them around 15 % more than incumbent workers doing the same job. Bob warned that this can cause friction. He laso said it takes about 2 years before that new hire is “up to speed” on the job, and they are also more likely to leave.
I think he mentioned training costs as well. How can I get a clip or script of that segment?

uribetwins
May 3, 2012 11:00 am

On today’s show, a caller asked for help refi-ing her mobile home and your guest said that he knew someone who could help. I was wondering if there were anyway to ask for this contact?

Thank you!

Vincent
May 2, 2012 8:12 am

Good morning Bob,
Do you have a podcast or app where we can listen to past shows?

Don
April 30, 2012 10:20 am

You are really getting to be very irritating. I used to love your informative show but lately you talk over your guests and interrupt them while they are talking. Case in point. the gentleman you had on today talking about TVs. Play a tape of your show and you will see how irritating you were.4/30/2012

    Ro
    June 26, 2012 10:59 am

    OMG I’m so glad to read this. He drives me crazy! The speaker is about to say something interesting, but Bob butts in and we don’t ever get to hear the valuable information the Guest has! For heavens sake, stop talking so much!

eric
March 22, 2012 12:53 pm

on March 19 bob mccormick had another great show. is there a way i can get a record of the show? or how can i obtain it?

kip morrison
March 20, 2012 4:43 pm

on this morning’s broadcast 9:30-ish 3/20 you mentioned an anacronym to call for people to get help to save their properties if underwater but in good standing. i got some of the phone number but not all. could you tell me the anacronym and give me the number.
i got 888-995-??43 i think. thx

Maria
March 20, 2012 11:19 am

Bob-I love your show and listen every morning-I would have loved to speak to the person you had on this morning regarding the Keep Your Home California Program, but I don’t think you were taking calls…or maybe I missed it. There’s a reason they have all that money and it’s not because people don’t know about the program or don’t need the assistance. Like all the other homeowner assistance programs out there right now, there is something wrong with their process and the people handling the process. I hope you will ask them about this. I love your show Bob-keep asking these people the difficult questions and force them to help people!!!

Evelyn
March 15, 2012 5:08 pm

I caught a little bit earlier this week (3/12/2012 – 3/15/2012) with a guest talked about a program for non-profits being eligible to receive a car – possibly a toyota, Can you send me the link to find out more information for that as I work for a non-profit.
Thank you so much
Evelyn Garvey

Lynn
February 23, 2012 11:38 am

Hi Bob, I was listening on 2/22 and Ken Whalens said that all Preferred stocks pay even if they suspend the dividend temporarily. That is not true, only Cumulative preferreds do. Most new issues can suspend the dividend by vote, just like they declare the dividend. A good example of this is the BofA preferred H. Anyway just wanted to make sure the right info is out there for the public. Thanks for your show! Lynn

Holly
February 21, 2012 10:20 am

Have had a financial fiasco using a financial planner through a well known company, which also has an insurance arm. We paid the financial planner a yearly fee. He recommended Variable Universal LIfe policy, based on his less than thorough analysis, but he made a huge commission. Insurance company accepts no blame. With all the boomers out there doing retirement and estate plans, would be good if you could sound a big warning to consumers. I’d be happy to share details of my story, but it is bigger than my own problem.

Ed Palacio
February 2, 2012 11:39 am

I geared these morning program Jeff about to re-finance, I would like his phone number please ,Thanks very mush .

Ed Palacio

Joe
January 27, 2012 11:32 am

Hi Bob, enjoyed your show today, but every time your guest gave his business phone number I was interrupted by something. Can you please give it to me. I’d like to inquire about a mortgage

Terri Howell
January 5, 2012 11:23 pm

Happy 2012!
I am an Outreach Specialist with the State of California’s Telephone Access Program (CTAP), which gives free special phones and phone accessories to anyone in California who is having difficulty remembering, moving, hearing, seeing, or speaking. I would deeply appreciate the opportunity for an on-air interview. CTAP is funded through a small surcharge on our telephone bills so that all equipment and assistance CTAP provides are free.
We offer over 70 pieces of accessible phone equipment, and we operate programs such as the California Relay Services for Deaf teletype phone users.
Additionally, the State provides the Speech-to Speech program where specially trained operators assist people who have speech difficulties in being understood during phone conversations.
CTAP is a program of the CPUC.
See below for more about CTAP.
Many of your listeners and their loved-ones would greatly benefit by knowing about CTAP.
Please contact me to let me know if an interview is possible.
By-the-way,I listen to your show almost daily and learn so much!Cordially,

Terri Howell, Outreach Specialist
California Telephone Access Program (CTAP)
6370 Magnolia #310 – Riverside, CA 92506
951 236-3050 – terri@ddtp.orghttp://www.ddtp.org

Jeanette
January 5, 2012 8:54 pm

You had a gentleman on your show that was answering health insurance questions. Please send me his name and contact info.
Thanks, Love your show, you ride shotgun on my trips to Orange county!

sandy becerra
December 13, 2011 8:07 pm

I was listening to your show yesterday, Dec 12, and you had a doctor on (I believe he was a doctor), talking about a diet in which one should eat during the first 12 hours of our day and that the largest meal should be 6 hrs upon rising. Please advise the name of the book and the author’s name. Your response would be greatly appreciated.

    Ken Jeffries
    January 6, 2012 6:54 pm

    He is Dr. Farid Zarif..his website is drzarif.com.

Rob Hodes
November 30, 2011 5:41 am

Hi Bob:
You mentioned the name of a web site recently that allows you to determine whether the price of something is likely to go down more in the future. A friend is looking for a new Mac computer and is wondering what the best time to buy it is.

Thanks for all the great work that you do!

Rob

dale pitman
November 23, 2011 2:57 am

please send me a link or phone # for the classic car guy you have on the show once in a while thankyou.

    Ken Jeffries
    January 6, 2012 6:51 pm

    You’re refering to Bob Koonz of K and S Cars You can get him through kandscars.com

Shawn
November 21, 2011 11:34 pm

I am trying to find out who Bob McCormick had on as a guest last week I believe possibly on Monday who was a Commercial Real Estate Loan expert. I thought his last name was Lazarus, but I could be completely off. I called the station and got not reply to my voice message to programming person. Please let me know his name and contact info if you know. Thank you.

    Ken Jeffries
    January 6, 2012 6:46 pm

    Hi Shawn..I’m the Money 101 producer and you’re referring to Jeff Lazarson who can be reached through his website, mortgagegrader.com

Tim
November 18, 2011 5:17 pm

Hey Bob, I enjoy your show.
Do you Know David Morgan?
Silver investor .com
He would be a great guest, pretty smart guy re; precious metal markets.
Thanks Tim