1. Mortgage Ripoffs and Money Savers: An Industry Insider Explains How to Save Thousands on Your Mortgage or Re-Finance

Mortgage Rip-offs and Money Savers reveals how the mortgage industry cheats borrowers out of billions in extra costs every year. Mortgage industry insider Carolyn Warren taps her decade of experience with lenders to expose the tricks, lies, and dirty little secrets they don't want you to know. With her expert guidance, borrowers will save tens of thousands when they avoid the traps so many consumers fall into. Having this inside information is the only way borrowers can truly get the best possible deal. This book presents that knowledge in an interesting and easy format that anyone can understand. Readers won't be victims of the mortgage industry with this invaluable resource in hand. Instead, they'll get the best possible rates, avoid bogus fees, and get the great deal they deserve.



2. Mortgages For Dummies, 2nd Edition

For many of us, the single biggest financial transaction is buying a house. Even more significant than the hefty down payment we fork over is the 15- to 30-year mortgage that needs feeding every month. If you have this much at stake, a little knowledge can go a long way, which is where Eric Tyson and Ray Brown come in. In Mortgages for Dummies, Tyson and Brown (who also wrote Home Buying for Dummies and House Selling for Dummies) provide a comprehensive introduction for anyone who is contemplating a mortgage. The book tells you how to evaluate your creditworthiness, determine your borrowing power, and shop for a lender, as well as covering the various types of loans. The authors also devote a section to refinancing and discuss what you should consider when prepaying a loan. They include amortization and remaining-balance tables, and a useful glossary. Whether you're a first-time home buyer or are just looking to refinance, you'll find this a valuable, easy-to-use guide.



3. Mortgage Confidential: What You Need to Know That Your Lender Won't Tell You

Author David Reed has done it again! I read his first book, Mortgages 101 and like it so much that I bought this one without any deliberation. I have been reading his column in Realty Times for years, and always enjoyed them.
In a clear, concise, easy to read manner, the author has set forth in simple and easy to understand terms the truth about mortgages and mortgage lending. Everything is explained, such as where mortgage money comes from, to how Annual Percentage Rate is determined to shopping for a loan and (hopefully) avoiding some "junk" fees. Also included is the commonly misunderstood diferrences between a Bank, a Mortgage Bank, and a Mortgage Broker. All this ads up to a great book to read for the consumer who is shopping for a mortgage loan. Details too numerous to explain here, but you won't regret buying this book, if you are eithar purchasing a home or refinancing. The "confidential" part of the title is the stuff Loan Agents know, and he has made it available to the reader.

One very miniscule flaw I picked up, with perhaps no relevance, is on page 150: It states that rate caps protect you, "even if they go into the 20% range as they did in the late 1980s." I think he meant the early 1980s. A time we'd all like to forget...

Another interesting thing I picked up was that he did address the once popular pick-a-payment loan, which I like in certain circumstances and he has disdained in his column. They do work well for some people in some situations, and I was glad to see him recognize that (page 159), although he does advise to people to avoid them. Glad to see a slight concession.

This is a highly informative book, which doesn't include a lot of math (the only math, really, is easy to understand graphics), which makes it the best book on the market to easily understand the whole process of lending- being a consumer or loan officer. Good job on this book Mr. Reed! Buy this book--you won't regret it...



4. Mortgage Encyclopedia: An Authoritative Guide to Mortgage Programs, Practices, Prices and Pitfalls

With the creation of so many new, complex mortgage programs, it's difficult for consumers --not to mention real estate agents, attorneys, closing agents, and mortgage brokers--to keep track of them all. Written by nationally syndicated real estate columnist Jack Guttentag, The Mortgage Encyclopedia helps readers understand the various mortgage terms, features, and options by offering clear, precise explanations. The alphabetical organization of terms makes it easy to quickly find information on any topic, from FHA, Investor, and No-PMI Loans to Origination Fee and Rate Float. Each entry includes not just a description of the term, but also relevant advice for consumers, such as answers to the questions "Is this loan right for me?" and "Can I negotiate this fee?"

  • Guides readers through the bewildering array of new mortgage programs
  • Features definitions and explanations of common mortgage, escrow, and closing fees and arcane mortgage terminology



5. Reverse Mortgages For Dummies

For seniors who live on a fixed income, owning a home—and keeping it—can be financially challenging. Rather than face the choice of selling your home and moving or becoming a home-owning pauper, reverse mortgage products let seniors convert part of their equity into tax-free income that can be used for anything—even mortgage payments, living expenses, or medical costs.

Reverse Mortgages For Dummies covers all the basics of reverse mortgage products so you and your adult children can understand and take full advantage of these handy loans—and keep the home you love. Covering a full range of reverse mortgage options and topics, you’ll discover how to:

  • Decide if a reverse mortgage is right for you
  • Shop for the best reverse mortgage products
  • Find out if your home is eligible
  • Find a counselor who can help you

Written by Sarah Lyons, an Assistant Editor at Mortgage Originator magazine, and John Lucas, an experienced reverse mortgage specialist, Reverse Mortgages For Dummies explains these helpful loan products in simple, easy-to-understand language free of all the jargon. Once you understand how reverse mortgages differ from other loans—and what you could do with your reverse mortgage—the book covers the specifics you need to find the right loan for you, including:

  • Special advice for adult children helping their senior parents secure a loan
  • How to get a reverse mortgage and keep your second home legally
  • Property requirements and financing fees
  • Selecting among a multitude of lenders
  • Spending and estimating leftover equity
  • Sharing the decision-making process with family and loved ones

If you’re a senior wondering whether a reverse mortgage can help you keep your home, this book gives you the information you need to make smart, informed decisions that are vital to you, and your family’s, security. Reverse Mortgages For Dummies will help you keep your home and live the life you want.



6. Mortgages 101: Quick Answers to Over 250 Critical Questions About Your Home Loan

Reed, an experienced loan officer and columnist for Realty Times, offers an easy-to-digest look at the world of mortgages. With definitions of the various types of loans, explanations of credit scores and a discussion of how the Internet has changed the real estate business, the book is a handy reference for anyone involved in real estate transactions-though best for beginners who want a map to navigate their way through the complexities of mortgages. The book explains such basic issues as the difference between renting and buying, which individuals at a bank actually approve loans and how to figure out debt ratio. More complex topics, like construction loans and getting online approvals, are also included. Reed writes in a straightforward, conversational tone and offers appropriate cautions, such as not to reveal confidential information online. While much of this information is available elsewhere, Reed serves up useful advice that is rarely discussed. For example, there is a "rescission" period for refinanced mortgages that gives people a three-day grace period to get out of the mortgage agreement with no penalties; he also discusses various types of appraisals. While there are books that cover this information in more depth, the q&a format makes this a worthwhile addition to the real estate shelves.



7. The Handbook of Mortgage-Backed Securities

By providing hands-on information vital to market participants, previous editions of The Handbook of Mortgage-Backed Securities were instrumental in fueling the growth of the mortgage-backed securities market. The sixth edition contains all the elements that made previous editions so successful and influential, and provides you with more than 25 new chapters on topics including collateralized mortgage obligations, prepayment derivatives, loan level determinants of repayments, new approaches to MBS valuation, and a survey of non-U.S. mortgage rates.



8. The High-Income Mortgage Originator: Sales Strategies and Practices to Build Your Client Base and Become a Top Producer

Master The Art Of Selling Mortgages!

The High-Income Mortgage Originator is your guide to a rewarding sales career in a growing field. What could be more satisfying than helping a young couple buy their first home, or helping a parent fund a child's college education, or helping an entrepreneur start a dream business—all while you make a great living?

Mortgage originators not only experience the satisfaction of helping people borrow the money they need; they get to be their own bosses, make their own rules, and make plenty of money. Whether you're looking for your first job or transitioning from a corporate position, The High-Income Mortgage Originator gives you all the tools to grow your wealth and your career in real estate finance.

This comprehensive guide not only provides a beginner's course on getting into the business, but also provides references, examples,and business practices that lead to high incomes. It teaches proven principles and practices in customer service, marketing, and lead generation that will build your reputation—and your business.

For example, you'll learn how to mount an effective marketing campaign to bring in more business than you can handle. You'll also read sample scripts that help you talk to prospects and bring them into the buying process without using pressure or gimmicks. Plus, you'll master the art of selling mortgages, understand every step of the mortgage process, deliver effective sales presentations, learn to evaluate mortgage applications and credit reports, and draft loans that make all parties happy.

Becoming a mortgage originator is a proven path to financial freedom, and good mortgage originators can make great money even in bad markets. The High-Income Mortgage Originator gives you the tips, advice, and best practices you need to build a thriving business with a growing and loyal customer base.



9. Secrets Banks and Lenders Don't Want You to Know/ Mortgage Free for Life!

YOU CAN pay off your typical 30-year mortgage in as little as 7-10 years! YOU CAN save thousand of dollars on your mortgage! YOU CAN accelerate your wealth building (building equity FAST), with simple strategies for real estate investing! YOU CAN lower your monthly payments AND begin building equity immediately! Warning: Are you making these major money mistakes? 6 Making minimal payments on your mortgage? * Depositing money into traditional bank account, where they make all the profit on the use of your stored money? * Making one extra payment a year or on a bi-weekly scheme, which only cuts a few years off a mortgage, but costs you more out of your budget? * Just making the minimum payment on all your credit card payments? * Focusing only on the monthly payments or interest rates alone? Jump ahead of the game now. Thousands of informed people are now discovering how to be living free and clear, who never thought they could.



10. Mortgage-Backed Securities: Products, Structuring, and Analytical Techniques (Frank J. Fabozzi Series)

Over the past quarter of a century, the market for mortgage-related securities has become the largest cash financial market in the world. The growing size and scope of the mortgage-backed securities (MBS) market—along with the broad range of products related to it—has forced many financial professionals to become more mindful of developments in MBS markets and the factors driving MBS issuance and performance.

Frank Fabozzi, Anand Bhattacharya, and William Berliner all have many years of experience working in the fixed-income markets, and have witnessed many cycles of change in the mortgage and MBS sectors. And now, with Mortgage-Backed Securities, they share their knowledge and insights on many of the product and structuring innovations that have impacted this financial market.

Written in a straightforward and accessible style, and containing numerous illustrations, this timely guide skillfully addresses the investment characteristics, creation, and analysis of mortgage-backed securities. Each chapter contains cutting-edge concepts that you'll need to understand in order to thrive within this arena—including detailed explanations of how MBS products, such as agency CMOs and mortgage ABS, are structured—as well as in-depth discussions of option-adjusted spreads, a variety of duration measures, and other analytical approaches used to assess relative value.

Divided into four comprehensive parts, this reliable resource:

Part One: provides you with a complete introduction to mortgage and MBS markets

Part Two: highlights the essential elements of prepayment and default behavior and performance metrics

Part Three: illustrates a variety of structuring techniques, with an emphasis on defining both differences and commonalities across various mortgage products and techniques

Part Four: describes the methodologies and techniques used to value MBS products and assess interest-rate risk

An information-filled Appendix rounds out the discussion of mortgage-backed securities. This part of the book will introduce you to a new approach to mortgage valuation—called the option theoretic approach—which has been adopted by a number of Wall Street firms and received a great deal of interest from market professionals.

A proliferation in the types of different loan products; the growth of lending to borrowers with non-traditional financial profiles; and a fluctuation in real estate prices have created the need for a reassessment of the MBS universe. Filled with in-depth insights and expert advice, Mortgage-Backed Securities offers you a realistic assessment of this field and outlines the products, structures, and analytical techniques about which any successful investor needs to know.



11. PRIVATE MORTGAGE INVESTING: How to Earn 12% or More on Your Savings, Investments, Ira Accounts, and Personal

In recent years, stock market investing has been proven unstable and not very rewarding. In fact, many people have seen their retirement and personal holding accounts dwindle. This new book provides an alternate to investors. It provides detailed information on how to put money to work in a relatively safe private mortgage investment with a high return of 12 to 15 percent (or more) in most cases. Private mortgages have grown into a multi-billion-dollar industry. This market allows investors to earn substantially higher yields—while offering the security of real property to back the loan. Private mortgages have become an important fixed income vehicle for many investors with their personal funds, equity, and self-directed IRA accounts. Private mortgage investing isn’t for the get-rich-quick type of person. However, you can comfortably double your money every 4 to 6 years. For example, should you invest in your self-directed IRA and re-invest as notes pay off? $100,000 at 12 percent grows to over $200,000 in six years, to $500,000 in 13 years and to over $1 million in 19 years. Private mortgage loans are backed by real property. Generally, you would not lend more than 55 percent on the value of the property, thus the investment is again relatively safe. Instead of concentrating on the borrower’s credit history, private mortgage lenders concentrate their investment decisions on the real property itself. However, like any business or investment, there are a lot of details to learn, and you do not need to learn them on your own. Learning them on your own can be costly. In this economic environment of very low interest rates, you can still earn high yields with virtually little or no risk to your investment.



12. The Complete Idiot's Guide to Success as a Mortgage Broker (Complete Idiot's Guide to)

Here is a step-by-step handbook to joining this elite group. Written by an accomplished mortgage broker with more than 15 years in the business and 2,000 deals to his credit, this book covers everything from whether or not real estate financing is the right career move to how to master the skills necessary to be successful.

• Overview of a day in the life of a mortgage broker—including the pros and cons of the career
• A self-test to help readers determine if the brokerage business is right for them
• Licensing and educational requirements, advice on successful networking, and basic mortgage information
• In 2004, there were over $3.8 trillion in mortgage originations nationwide—an all-time record— according to The Mortgage Bankers Association



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