Mortgages 101

Quick Answers to Over 250 Critical Questions About Your Home Loan

 Mortgages 101

Author: David Reed
Pub Date: May 2008
Print Edition: $16.95
Print ISBN: 9780814401668
Page Count: 320
Format: Paper or Softback
Edition: Second Edition
e-Book ISBN: 9780814401835

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Mortgages 101,Second Edition

SUBHEAD:Quick Answers to Over 250 Critical Questions About Your Home Loan




Revised edition of AMACOM book provides up-to-date

information for mortgage novices and veterans alike.

With mortgage stories dominating the front-page news, many people—whether they’re buying a new house or refinancing—increasingly have questions about the complicated issues at stake. Simply put, those who don’t seek the right information are going to wind up lost in what many refer to as "the mortgage maze."

The newly updated second edition of MORTGAGES 101: Quick Answers to Over 250 Critical Questions About Your Home Loan (AMACOM 2008) by David Reed is designed to take the guesswork and worry out of the mortgage game. Arranged in an easily accessible question-and-answer format, the book covers hundreds of topics, large and small, that homebuyers absolutely must master to ensure a successful financing arrangement. Author David Reed—a veteran loan officer who knows the ins and outs of dealing with banks, attorneys, real estate agents, sellers, and credit bureaus—provides readers with essential lending formulas, as well as important information on lending requirements and application procedures. Readers will learn the essentials of:

• Pre-approval and pre-qualification

• Finding the best lenders and locking in the best rates

• Debt ratios, escrow, and calculating how much to borrow

• Documenting assets and income

• Down payments, mortgage insurance, and how to offset risk elements

• Credit reports, credit scores, and how to improve both

• When and why to choose fixed-rate or adjustable rate loans

• Refinancing, home equity, construction and home improvement loans

• Closing costs and documents, and how to streamline the closing process

The book shows readers how to save money by understanding key terms like ARMs and hybrids; improving their credit scores to increase their borrowing power; using technology to get the lowest interest rates; and maximizing their return on investment, and cutting the cost of mortgage insurance.

In addition, this revised edition includes up-to-date material on new loan and government programs, changes to the law regarding tax deductions, down payment assistance, reverse mortgages, bankruptcy, negative amortization and more—in short, all the answers readers need, in one must-have reference. An all-inclusive guide to smooth sailing through the seas of home financing, MORTGAGES 101 will help first-time buyers, refinancers, and real estate investors save money, time, and effort at every stage of the purchasing process.

"Easy to understand, this book puts all the information in one place. The best book on home mortgages I've ever read."—Michael Finney, columnist, San Francisco Examiner, and award-winning consumer reporter for ABC TV & Radio, San Francisco.

About the Author:

David Reed is a veteran mortgage banker with two decades of experience, closing more than 1,000 loans, and a columnist for Realty Times. He is the author of Mortgage Confidential, Your Guide to VA Loans, Who Says You Can’t Buy a Home!, and Your Successful Career as a Mortgage Broker. He lives in Austin, Texas.

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