{"product_id":"mortgage-ripoffs-and-money-savers-isbn-9780470097830","title":"Mortgage Ripoffs and Money Savers","description":"\u003ci\u003eMortgage Rip-offs and Money Savers \u003c\/i\u003ereveals 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.  ACKNOWLEDGMENTS.  \u003cp\u003eINTRODUCTION.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART I : Eight-Step Guide to Getting the Best Rate and Protecting Yourself from Most Common Scams.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 1 Step 1: Boost Your Credit Rating and Prequalify.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Credit Score Do You Need to Buy a Home?\u003c\/p\u003e \u003cp\u003eAdditional Notes about How Lenders Rate Credit.\u003c\/p\u003e \u003cp\u003eWhat to Do if You Have Credit Challenges.\u003c\/p\u003e \u003cp\u003ePeople with Low Scores Get Ripped Off More Often.\u003c\/p\u003e \u003cp\u003eFind Out How Much You Qualify For.\u003c\/p\u003e \u003cp\u003eThe Three-Step Preapproval Process.\u003c\/p\u003e \u003cp\u003eHow Do Lenders Decide How Much Money to Lend You?\u003c\/p\u003e \u003cp\u003eWhich Payments Count for Debt Ratio?\u003c\/p\u003e \u003cp\u003ePick Your Own Budget.\u003c\/p\u003e \u003cp\u003eComing Up.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 2 Step 2: Create a Short List of Three Honest Mortgage Lenders.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTricks to Foil Your Shopping Efforts.\u003c\/p\u003e \u003cp\u003eSelling the Sizzle.\u003c\/p\u003e \u003cp\u003eSpecial Deals and Secret Loans.\u003c\/p\u003e \u003cp\u003eThe Loan They Don’t Want You to Know About.\u003c\/p\u003e \u003cp\u003eThe Sticky Trick.\u003c\/p\u003e \u003cp\u003eCreating Your Short List.\u003c\/p\u003e \u003cp\u003eWrite Down Two Mortgage Companies and One Bank.\u003c\/p\u003e \u003cp\u003eMake One a Referral.\u003c\/p\u003e \u003cp\u003eGet a Specific Name.\u003c\/p\u003e \u003cp\u003eUsing an Internet Lender.\u003c\/p\u003e \u003cp\u003eBig National Lenders versus Local Lenders.\u003c\/p\u003e \u003cp\u003eListen to Your Instincts.\u003c\/p\u003e \u003cp\u003eComing Up.\u003c\/p\u003e \u003cp\u003eCHAPTER 3 Step 3: Choose the Right Type of Loan for Your Situation.\u003c\/p\u003e \u003cp\u003eTypes of Loans.\u003c\/p\u003e \u003cp\u003e30-Year Fixed Rate.\u003c\/p\u003e \u003cp\u003e15-Year Fixed Rate.\u003c\/p\u003e \u003cp\u003e40-Year or 45-Year Fixed Rate.\u003c\/p\u003e \u003cp\u003eAdjustable Rate Mortgage (ARM).\u003c\/p\u003e \u003cp\u003eBalloon Loan.\u003c\/p\u003e \u003cp\u003e2\/28 and 3\/27 “Fixed Rate” Adjustable Loans.\u003c\/p\u003e \u003cp\u003eInterest-Only Loans.\u003c\/p\u003e \u003cp\u003eRisky Loans.\u003c\/p\u003e \u003cp\u003eLoans That Should Be Illegal.\u003c\/p\u003e \u003cp\u003ePrepayment Penalties: Good and Bad.\u003c\/p\u003e \u003cp\u003eWhat Is a Prepayment Penalty and How Does It Work?\u003c\/p\u003e \u003cp\u003eHard or Soft Prepayment Penalty?\u003c\/p\u003e \u003cp\u003eGood Prepayment Penalties.\u003c\/p\u003e \u003cp\u003eBiweekly Mortgage Savings: Bargain or Rip-Off ?\u003c\/p\u003e \u003cp\u003eHow Does It Really Work?\u003c\/p\u003e \u003cp\u003eComing Up.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 4 Step 4: Request Three Good Faith Estimates and Compare the Costs.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBad Ideas.\u003c\/p\u003e \u003cp\u003eShopping for the Best Interest Rate Is a Bad Idea.\u003c\/p\u003e \u003cp\u003eComparing APR Is a Bad Idea.\u003c\/p\u003e \u003cp\u003eComparing Ads Is a Bad Idea.\u003c\/p\u003e \u003cp\u003eHow Should You Shop for a Mortgage?\u003c\/p\u003e \u003cp\u003eHow to Ask for Your Good Faith Estimates.\u003c\/p\u003e \u003cp\u003eWhat if You Don’t Know Your Credit Score?\u003c\/p\u003e \u003cp\u003eHow to Compare Good Faith Estimates.\u003c\/p\u003e \u003cp\u003eGetting a Guarantee.\u003c\/p\u003e \u003cp\u003eFinding an Honest Pro.\u003c\/p\u003e \u003cp\u003eThe Key to a Good Borrowing Experience.\u003c\/p\u003e \u003cp\u003eComing Up.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 5 Step 5: Uncover the Best-Kept Secret of the Mortgage Industry.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStop Paying Too Much!\u003c\/p\u003e \u003cp\u003eConversations They Don’t Want You to Hear.\u003c\/p\u003e \u003cp\u003eHow Do Commissions Work?\u003c\/p\u003e \u003cp\u003eHow Do Loan Officers’ Commissions Work?\u003c\/p\u003e \u003cp\u003eWho’s Getting Par Rate?\u003c\/p\u003e \u003cp\u003eThere Should Be a Law.\u003c\/p\u003e \u003cp\u003eDeciding between Broker and Banker.\u003c\/p\u003e \u003cp\u003eBrokers Acting like Bankers.\u003c\/p\u003e \u003cp\u003eWhy Does the Law Treat Brokers and Bankers Dif ferently?\u003c\/p\u003e \u003cp\u003eWhat’s a Fair Price to Pay for Your Loan?\u003c\/p\u003e \u003cp\u003eMore on YSPs.\u003c\/p\u003e \u003cp\u003eWhat Should You Do if YSP Is a Big Secret?\u003c\/p\u003e \u003cp\u003eWhat if the YPS on Your Loan Goes Up?\u003c\/p\u003e \u003cp\u003eComing Up.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 6 Step 6: Negotiate Lower Fees and Rates.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCategorizing Fees.\u003c\/p\u003e \u003cp\u003eJunk Fees: The Dirty Dozen.\u003c\/p\u003e \u003cp\u003eQuestionable Fees.\u003c\/p\u003e \u003cp\u003eLegitimate Fees and Third-Party Costs.\u003c\/p\u003e \u003cp\u003eComing Up.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 7 Step 7: Decide Whether It Makes Sense to Pay Points, and Lock In Your Rate—Carefully.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Truth about Par Rate and Discount Points.\u003c\/p\u003e \u003cp\u003eAre You Protected with a Government Loan?\u003c\/p\u003e \u003cp\u003eWhen Does It Make Sense to Pay a Loan Discount?\u003c\/p\u003e \u003cp\u003eWhen It Might Make Sense to Buy Down Your Rate.\u003c\/p\u003e \u003cp\u003eLock In Your Rate.\u003c\/p\u003e \u003cp\u003eWhat Is a Rate Lock and How Does It Work?\u003c\/p\u003e \u003cp\u003eWhen Can You Lock In Your Rate?\u003c\/p\u003e \u003cp\u003eWhat if Your Loan Doesn’t Close on Time?\u003c\/p\u003e \u003cp\u003eWhat if Rates Go Down after You Lock?\u003c\/p\u003e \u003cp\u003eDo Mortgage Brokers Have an Advantage over Bankers?\u003c\/p\u003e \u003cp\u003eBeware Rate Gambling!\u003c\/p\u003e \u003cp\u003eLosing on a Rate Lock Gamble.\u003c\/p\u003e \u003cp\u003eInsider’s Guide to Protecting Yourself from Rate Lock Scams.\u003c\/p\u003e \u003cp\u003eComing Up.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 8 Step 8: Avoid the Five Most Common Unpleasant Closing Surprises.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDenial of Appraisal.\u003c\/p\u003e \u003cp\u003eSeven Reasons a Lender Might Reject Your Appraisal.\u003c\/p\u003e \u003cp\u003eBait and Switch.\u003c\/p\u003e \u003cp\u003eDetermining Whether You’ve Been Duped.\u003c\/p\u003e \u003cp\u003eBait and Switch or Honest Mistake?\u003c\/p\u003e \u003cp\u003eMistakes.\u003c\/p\u003e \u003cp\u003eTricks at Signing.\u003c\/p\u003e \u003cp\u003eSurprise Prepayment Penalty.\u003c\/p\u003e \u003cp\u003eInsider’s Handy Checklist for Avoiding Nasty Surprises.\u003c\/p\u003e \u003cp\u003eComing Up.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePA RT I I.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTips for Homeowners Who Are Refinancing.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 9 What You Must Know before You Refinance.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHow the Smooth-Talkers Work.\u003c\/p\u003e \u003cp\u003eFour Tricks Equity “Strippers” Use.\u003c\/p\u003e \u003cp\u003eDangers of Refinancing Too Often.\u003c\/p\u003e \u003cp\u003eThree Savvy Refinancing Strategies.\u003c\/p\u003e \u003cp\u003eTwo Savvy Refinancing Questions to Ask.\u003c\/p\u003e \u003cp\u003eThree Refinancing Alerts.\u003c\/p\u003e \u003cp\u003eNeophytes Posing and Managers (and Other Callers).\u003c\/p\u003e \u003cp\u003ePayment Reduction Notices and Other Offers to Save.\u003c\/p\u003e \u003cp\u003eDisputes over Your Home Value.\u003c\/p\u003e \u003cp\u003eComing Up.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 10 Watch Out if You’re Rolling Fees into Your Loan!\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Scoop on Closing Costs.\u003c\/p\u003e \u003cp\u003eThe Worst Refinance: Could It Be Yours?\u003c\/p\u003e \u003cp\u003ePay Attention to the Numbers.\u003c\/p\u003e \u003cp\u003eComing Up.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePA RT I I I.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSpecial Topics and Unique Situations.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 11 Great Deals on below Market Rate Loans.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFirst-Time Homebuyer Programs Open to Anyone.\u003c\/p\u003e \u003cp\u003eHow to Qualify for a “First-Time” Loan.\u003c\/p\u003e \u003cp\u003eLoans for Public Servants.\u003c\/p\u003e \u003cp\u003eInexpensive Loans for the Community-Minded.\u003c\/p\u003e \u003cp\u003eLoans for People with a Disability.\u003c\/p\u003e \u003cp\u003eFree Grants.\u003c\/p\u003e \u003cp\u003eWho Can Get a Grant?\u003c\/p\u003e \u003cp\u003eWhat Are the Grant Programs Called?\u003c\/p\u003e \u003cp\u003eWhere Can You Get a Grant Program?\u003c\/p\u003e \u003cp\u003eHow Do Grant Programs Work?\u003c\/p\u003e \u003cp\u003eThe Controversy.\u003c\/p\u003e \u003cp\u003eComing Up.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 12 Tips for Loans on Condos and Two- to Four-Family Homes.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHow to Get a More Reasonably Priced Home.\u003c\/p\u003e \u003cp\u003eBuying a Condo.\u003c\/p\u003e \u003cp\u003eInvesting in a Duplex, Triplex, or Fourplex: The Two- to Four-Family Home.\u003c\/p\u003e \u003cp\u003eFinancing an Investment Property.\u003c\/p\u003e \u003cp\u003eComing Up.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 13 What if You Get Turned Down?\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTurning a Denied Loan into an Approved Loan.\u003c\/p\u003e \u003cp\u003eThe Secret to Writing an Effective Letter of Explanation.\u003c\/p\u003e \u003cp\u003eComing Up.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 14 What if Your Loan Doesn’t Close?\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReasons Your Loan Might Not Close as Expected.\u003c\/p\u003e \u003cp\u003eSomething Bad Popped Up on Your Credit.\u003c\/p\u003e \u003cp\u003eYour Job Situation Changed.\u003c\/p\u003e \u003cp\u003eThe Title Wasn’t Clear.\u003c\/p\u003e \u003cp\u003eThe Appraisal Was Reviewed Again and Rejected.\u003c\/p\u003e \u003cp\u003eFraud Was Discovered.\u003c\/p\u003e \u003cp\u003eThe Funder Made an Error in Wiring.\u003c\/p\u003e \u003cp\u003eYour File Grew Legs and Walked Away.\u003c\/p\u003e \u003cp\u003eNatural or National Disaster Strikes.\u003c\/p\u003e \u003cp\u003eComing Up.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 15 Controversial Lender Laws.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMaximum Profit Allowed by Law.\u003c\/p\u003e \u003cp\u003eIllegal Kickbacks.\u003c\/p\u003e \u003cp\u003eShould Back-End Commissions Be Illegal?\u003c\/p\u003e \u003cp\u003eThree Ways YSP Is a Benefit to Borrowers.\u003c\/p\u003e \u003cp\u003eComing Up.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 16 A Peek inside the Mortgage Industry.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBehind Closed Doors.\u003c\/p\u003e \u003cp\u003eSecrets of the Underwriting Department.\u003c\/p\u003e \u003cp\u003eBribes.\u003c\/p\u003e \u003cp\u003eDisappearing Documents.\u003c\/p\u003e \u003cp\u003ePlaying Favorites.\u003c\/p\u003e \u003cp\u003eSecrets of the Sales Office.\u003c\/p\u003e \u003cp\u003ePhony Specials.\u003c\/p\u003e \u003cp\u003eThree Ways Wholesalers Compete.\u003c\/p\u003e \u003cp\u003eThe Bank’s Bag of Tricks.\u003c\/p\u003e \u003cp\u003eWhy Minorities Pay More.\u003c\/p\u003e \u003cp\u003eScenes through a Hidden Camera.\u003c\/p\u003e \u003cp\u003eSnapshot of the Ugly Side of Wholesale Lending.\u003c\/p\u003e \u003cp\u003eSnapshot of Direct Lenders.\u003c\/p\u003e \u003cp\u003eSnapshot of Independent Loan Officers.\u003c\/p\u003e \u003cp\u003eMortgage Stars Who Rock.\u003c\/p\u003e \u003cp\u003eConclusion.\u003c\/p\u003e \u003cp\u003eINDEX.\u003c\/p\u003e \u003cp\u003eCarolyn Warren was a mortgage industry insider for ten years, and worked in retail and wholesale lending for some of the nation's largest lenders, including Full Spectrum Lending\/Countrywide Home Loans, Long Beach Mortgage\/Ameriquest, First Franklin, and Green Tree Financial\/Conseco.\u003c\/p\u003e   \u003cp\u003ePraise for Mortgage Rip-Offs and Money Savers\u003c\/p\u003e \u003cp\u003e\"Carolyn Warren better get a bodyguard. Her new tell-all on the mortgage industry exposes so many of the lending industry's favorite frauds, every loan officer from Seattle to Miami is going to be gunning for her! Mortgage Rip-Offs and Money Savers is like a map that guides you around the carefully camouflaged landmines laid by lenders. And it gives you simple, step-by-step directions for saving tens of thousands of dollars. If you're looking for ways to save a king's ransom on your mortgage and monthly payments, you simply must read this book.\"\u003cbr\u003e —Clayton Makepeace, founder and President, The Profit Center\u003c\/p\u003e \u003cp\u003e\"Finally someone from inside the mortgage industry has come in from the cold and laid out the 'dirty little secrets' of the home loan business. Read this book and you will be less likely to get fleeced on your next mortgage application.\"\u003cbr\u003e —Kenneth Harney, Washington Post nationally syndicated real estate columnist\u003c\/p\u003e \u003cp\u003e\"I wish I had read this book before I started investing in real estate. Carolyn Warren has identified all the major dangers amateur real estate investors need to be aware of and provided many useful tips for getting the right price and the best financing.\"\u003cbr\u003e —Michael Masterson, New York Times bestselling author of Automatic Wealth\u003c\/p\u003e \u003cp\u003e\"Ever wonder if you're paying too much for a home loan? Carolyn Warren spills the beans and shows how lenders make excess profits, how consumer costs are hidden, and what you can do about it. This is a guide well worth reading before searching for a home loan.\"\u003cbr\u003e —Peter G. Miller, nationally syndicated real estate columnist\u003c\/p\u003e \u003cp\u003e\"Wow! Educational and fun to read! Getting a mortgage without first reading Mortgage Rip-Offs and Money Savers is like going into the forest on a dark night without a flashlight. Carolyn shines the spotlight right on every trouble spot. I'm putting it on our 'must-read' list.\"\u003cbr\u003e —Dan Barnett, CFO, enSphere, LLC\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989655797989,"sku":"NP9780470097830","price":22.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470097830.jpg?v=1761784980","url":"https:\/\/k12savings.com\/es\/products\/mortgage-ripoffs-and-money-savers-isbn-9780470097830","provider":"K12savings","version":"1.0","type":"link"}