Mortgages 101: Quick Answers to Over 250 Critical Questions About Your Home Loan - Softcover

Reed, David

Softcover

ISBN 10: 081440166X ISBN 13: 9780814401668

Publisher: AMACOM, 2008

Synopsis

With mortgage stories dominating the front-page news, people―whether they’re buying a new house or refinancing―increasingly have questions about the complicated issues at stake. Arranged in an easily accessible question-and-answer format, Mortgages 101 provides readers with essential lending formulas, as well as important information on lending requirements and application procedures. The book shows readers how to save money by: · understanding key terms like ARMs and hybrids―and reading 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 This revised edition includes up-to-date material on new loan and government programs, as well as 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.

About this title

From the Back Cover:

Buying a home is a huge decision—and so is finding the right mortgage. (No, they’re not all the same.) Whether you’re purchasing your first home, or contemplating a new one, you must understand today’s complicated mortgage environment . . . so you can choose the best loan for you.

Mortgages 101 is the classic guide to everything you need to know — and now it’s completely updated to reflect the sweeping changes in recent years. This easy reference covers the entire mortgage process—everything from how much home you can afford to how to save big on your closing costs.

Written in a simple question-and-answer format, this revised third edition provides the latest information on: Application procedures · Online lenders · Down payment assistance, zero-down options, and new programs such as HomeReady · Qualifying requirements · Ways to lower your debt ratio · Credit scores: FICO, Vantage, and the “hidden” ones · Credit strategies (even if your credit scores are low) · Guidelines for self-employed borrowers · Bankruptcies and waiting periods · Refinancing and home equity loans · Consumer Financial Protection Bureau rules · The new Ability-to-Repay mandate · And much more.

The mortgage landscape has gotten safer, but it’s also more complex. Let Mortgages 101 guide you to the perfect loan for you. Then enjoy your new home.

Praise for the previous edition of Mortgages 101:

“Covers just about every issue that can come up, from how much to put down to the various types of mortgages available. Perhaps the best thing Mr. Reed does is explain, simply, how banks determine your creditworthiness.” — The New York Times

“With consumer-friendly language and an easygoing tone, Reed answers over 250 common, yet critical borrower questions.” — Mortgage Originator

“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.” — Realty Times

“[Reed’s] lucid explanations translate confusing mortgage industry jargon into plain English for the nonfinancial reader. . . . no-nonsense tone.” — Financial Planning

David Reed has two decades of experience in the mortgage industry as a Senior Loan Officer and Underwriter. He is a regular contributor to Realty Times and the author of several popular books on real estate.

About the Author:

David Reed (Austin, TX) is a veteran mortgage banker who has closed more than 1,000 mortgages. He is a columnist for Realty Times and Mortgage Originator Magazine and is a member of the Mortgage Speakers Bureau. He is the author of Mortgages 101 (0-8144-7245-1), Who Says You Can't Buy a Home (0-8144-7340-7), and Mortgage Confidential (0-8144-7369-5).

About this edition

• Publisher: AMACOM
• Publication date: 2008
• ISBN 10: 081440166X
• ISBN 13: 9780814401668
• Binding: Paperback
• Edition number: 2
• Number of pages: 320