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Mortgages 101: Quick Answers to Over 250 Critical Questions about Your Home Loan
Synopses & Reviews
With quick answers to more than 250 critical questions about home loans, this guide details all the latest changes in mortgage processes, including up-to-date lending formulas and important information on lending requirements and application procedures.
"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." Publishers Weekly (Copyright Reed Business Information, Inc.)
Book News Annotation:
First-time buyers and anyone with questions about home mortgages will find this an accessible and thorough book, with clearly written answers to the myriad details of these loans. A sample of the topics of the 16 chapters includes construction loans, mortgage brokers, the Internet, refinancing, down payments, and credit scores. Reed is a senior loan officer in Texas.
Annotation ©2004 Book News, Inc., Portland, OR (booknews.com)
"With more people than ever before applying for new loans and refinancing, an easy-to-understand guide has become a necessity for anyone confused by the complicated issues at stake. Mortgages 101 answers all the questions readers typically have, detailing all the latest changes in mortgage processes, and showing readers how to save money by:
* understanding important terms like ARMs and Hybrids—and what’s in the fine print
* improving their credit scores to increase their borrowing power
* using technology to get the lowest interest rates
* maximizing their return on investment, and cutting the cost of mortgage insurance
Arranged in an easily accessible question-and-answer format, the book provides up-to-date lending formulas, as well as important information on lending requirements and application procedures. Mortgages 101 contains all the information readers need to know, in one must-have reference."
About the Author
David Reed (Austin, TX) has been a loan officer for more than 14 years. He is a columnist for Realty Times, and is a contributing editor for Mortgage Originator Magazine. A regular speaker at seminars, he is a member of the Mortgage Speakers Bureau.
Table of Contents
Robert Bruss, nationally syndicated columnist: "On my scale of one to 10, this outstanding home-mortgage book rates an off-the-chart 12."
"""When you read anything by David Reed, you get the feeling you are talking with a lifelong friend. His folksy, familiar style makes learning about loans fun and you won't forget his advice. If you do, you'll regret it."" — Blanche Evans, Publisher/Editor of Realty Times and Agent News
""David Reed has the ability to explain some of the most complex issues in everyday language. This veteran gives it to you straight and gives you the upper hand when looking for a home mortgage. The chapter on finding the best rate is worth the price of admission alone."" — Barry Habib, CEO, Mortgage Market Guide
""Easy to understand, this book puts all the information in one place. The best book on home mortgages I've ever read."" — Michael Finney, Award winning San Francisco consumer reporter for ABC TV & Radio. Columnist, San Francisco Examiner
Publishers Weekly: ""An easy-to-digest look at the world of mortgages. Reed writes in a straightforward, conversational tone and offers appropriate cautions.serves up useful advice that is rarely discussed. The q&a format makes this a worthwhile addition to the real estate shelves.""
Mortgage Originator: ""With consumer-friendly language and an easygoing tone, Reed answers over 250 common, yet critical borrower questions. Originators can use this book chapter by chapter, or as a whole, to help educate consumers on the entire mortgage process.Give this book to any potential customerófirst-time buyers, move-ups, and experienced homeowners alike and they will come back to you more informed and confident in their mortgage proceedings.you and your customers will benefit greatly from this informative book.""
RealtyTimes.com: ""Written in Q&A, the advice in Mortgages 101 is unvarnished and to the point. Reed takes a dry subject and makes literally years of hard-gained knowledge digestible and usable in a thumbable loan manual."""
What Our Readers Are Saying