Mortgage Ripoffs and Money Savers: An Industry Insider Explains How to Save Thousands on Your Mortgage or Re-Finance

Product Details

Mortgage Rip-offs and Money Savers reveals 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.

Biographical Note

Carolyn 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.

Table of Contents

• ACKNOWLEDGMENTS.
• INTRODUCTION.
• PART I : Eight-Step Guide to Getting the Best Rate and Protecting Yourself from Most Common Scams.
  • CHAPTER 1 Step 1: Boost Your Credit Rating and Prequalify.
    • What Credit Score Do You Need to Buy a Home?
    • Additional Notes about How Lenders Rate Credit.
    • What to Do if You Have Credit Challenges.
    • People with Low Scores Get Ripped Off More Often.
    • Find Out How Much You Qualify For.
    • The Three-Step Preapproval Process.
    • How Do Lenders Decide How Much Money to Lend You?
    • Which Payments Count for Debt Ratio?
    • Pick Your Own Budget.
    • Coming Up.
  • CHAPTER 2 Step 2: Create a Short List of Three Honest Mortgage Lenders.
    • Tricks to Foil Your Shopping Efforts.
    • Selling the Sizzle.
    • Special Deals and Secret Loans.
    • The Loan They Don