Homebuyers Beware: Who's Ripping You Off Now?: What You Must Know About the New Rules of Mortgage and Credit

Homebuyers Beware: Who's Ripping You Off Now?: What You Must Know About the New Rules of Mortgage and Credit

by Carolyn Warren
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Overview

Homebuyers Beware: Who's Ripping You Off Now?: What You Must Know About the New Rules of Mortgage and Credit by Carolyn Warren

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

Product Details

ISBN-13: 9780137020164
Publisher: FT Press
Publication date: 10/28/2009
Pages: 288
Product dimensions: 5.90(w) x 8.90(h) x 0.90(d)

About the Author

Carolyn Warren has been a mortgage industry insider for more than twelve years. She worked in both retail and wholesale lending for some of the largest national lenders including Full Spectrum Lending/Countrywide Home Loans, Ameriquest, Green Tree Financial/Conseco, and First Franklin wholesale lending.

Carolyn Warren is the author of the best-selling Mortgage Rip-Offs and Money Savers, a book that became The Washington Post’s August 2008 Book Club pick-of-the-month and earned reviews in publications ranging from The Boston Globe to the Orange County Register, The Seattle Times to the Arizona Republic and San Diego Union-Tribune. She has appeared on many radio talk shows, including Bob Brinker’s national Money Talk and The Gil Rose Show in San Francisco.

Currently, she is working as a broker/banker and is the owner of two Web sites, www.AskCarolynWarren.com and www.Mortgage-Helper.com. She lives in Seattle with her husband and Himalayan cat.

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Homebuyers Beware 3 out of 5 based on 0 ratings. 12 reviews.
AbbottJack More than 1 year ago
This book taught be what goes on inside the mortgage business and enabled me to save over $1,000 in closing costs. For example, I learned about yield spread premium, the back-end commission the loan officers never tell you about. The first loan officer I talked with claimed they didn't have it, but then on further questioning, admitted they did but didn't disclose it because they are a direct lender. This is just one of many scams out there. By looking at the list of fees in this book, I knew which were legitimate and which I could negotiate. This saved me $1,050 in cash to close. That is quite a good investment on the price of the book! The entire financing process from choosing a lender to closing is covered. For people who need to improve their credit, there are good tips that are more advanced than what you read online. (Who doesn't know to "pay your bills on time"? Carolyn Warren actually tells you how to get a late payment off your report.) There are also chapters for people who are refinancing, in spite of the title. I recommend this book for anyone getting a mortgage.
Anonymous More than 1 year ago
Not bad.
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Anonymous More than 1 year ago
Just based on the first chapter, it looks like this will be readable, but not as much depth as the intro suggests.