Book description
Everything you thought you knew about financing a house has changed. Your future depends on knowing today’s mortgage and credit realities: Relying on older information could cost you a fortune or keep you from buying a house altogether. In Homebuyers Beware: Who’s Ripping You Off Now? – What You Must Know About the New Rules of Mortgage and Credit, Carolyn Warren reveals the new realities of home financing and shows exactly how to take advantage of them, whether you’re buying your first home, refinancing, struggling with imperfect credit, or planning to invest in real estate.
Homebuyers Beware reveals new secrets homebuyers simply can’t afford to miss and exposes new scams that target today’s eager consumers--including new loans that look great on paper but are every bit as dangerous as yesterday’s subprimes. Unlike other mortgage guides, this book fully reflects today’s radically new mortgage requirements, in addition to the latest federal housing legislation and how to improve your credit rating. Warren covers topics from real estate negotiation, to powerful tips on getting lower interest rates, to avoiding bogus junk fees, and everything in between:
· High-tech “smoke and mirrors” that can trick you into overpaying
· Quick, easy, powerful ways to fix your credit
· Uncovering the costly secrets of the Yield Spread Premium
· The latest laws and credit rules and what they mean to you
· New plans for recovering from bad credit, foreclosures, or short sales
“Carolyn Warren is my go-to expert for
mortgage industry information. She not only helps you avoid
rip-offs, she helps you know what questions to ask and how to ask
them. Full of tips, scripts, and sample letters, Homebuyers
Beware is an extremely valuable book that I recommend to all my
readers!”
--Alison Rogers, “Ask the Agent” columnist, CBS
Moneywatch.com
“In this fun-to-read volume, mortgage industry insider Carolyn Warren tells you what real estate cheats and mortgage scammers do NOT want you to know: the tricks, the deceptions, and the outright frauds that would otherwise add thousands, maybe tens of thousands of dollars to your mortgage. Get it. Read it. And take it to the mortgage broker with you. You’ll be glad you did!”
--Clayton Makepeace, The Total Package, Makepeacetotalpackage.com
“In Homebuyers Beware, Carolyn Warren directs her keen eye at the mortgage and credit markets in the wake of the housing bubble. With an insider’s knowledge, plenty of interesting anecdotes, and helpful reference information, Warren is a cheerful teacher leading readers down the path to homeownership and pointing out pitfalls along the way.”
--Ben Meyer, InternetBrands.com
Table of contents
- Title Page
- Copyright Page
- Contents
- Acknowledgments
- About the Author
- Introduction: New Rip-Offs
- 1. Getting the World’s Cheapest Loan
- 2. What’s New with Credit
- 3. Quick, Easy Ways to Raise Your Credit Score
- 4. Aggressive, Innovative Ways to Fix Credit
- 5. Five-Step Plan for People Working Toward Buying a Home
- 6. How to Recover from a Foreclosure or Short Sale
- 7. Beware of Privacy Pirates!
- 8. Don’t Buy a House Until You Read This
- 9. When Is the Best Time to Buy a Home?
- 10. The Loan Process in Ten Easy Steps
- 11. Choose the Right Loan for YOU
- 12. Broker, Banker, or Direct Lender?
- 13. How to Shop for a Loan Without Getting Tricked
- 14. The Truth About Fees
- 15. Five Things You Need to Know About YSP
- 16. How the YSP Controversy Affects You
- 17. The Good Faith Estimate: Tricks and Traps
- 18. When to Lock in Your Rate, When to Float
- 19. What Does It Take to Get Approved?
- 20. Why You Need Agent Representation
- 21. Ten Things You Must Know Before You Refinance
- 22. Is Refinancing a Good Financial Move?
- 23. I’m Glad You Asked: Refinancing Q and A
- 24. Unique Loans, Unique Situations
- 25. Beware of Radio Ads
- 26. Stop Clicking on Mortgage Ads
- 27. Deception Exposed
- 28. Watch Out for the Ten-Million-Dollar Mortgage Man (and His Cohorts)
- 29. Home Value Rip-Offs
- 30. Final Thoughts
- Index
- FT Press
Product information
- Title: Homebuyers Beware: Who’s Ripping You Off Now?—What You Must Know About the New Rules of Mortgage and Credit
- Author(s):
- Release date: October 2009
- Publisher(s): Pearson
- ISBN: 9780137049066
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