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| Mortgage Ripoffs and Money Savers: An Industry Insider Explains How to Save Thousands on Your Mortgage or Re-Finance | 
 enlarge | Author: Carolyn Warren
Publisher: Wiley
Category: Book
List Price: $17.95
Buy New: $8.66
You Save: $9.29 (52%)
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Avg. Customer Rating:  (62 reviews)
Sales Rank: 10165
Languages: English (Original Language), English (Unknown), English (Published)
Media: Paperback
Number Of Items: 1
Pages: 256
Shipping Weight (lbs): 0.7
Dimensions (in): 8.9 x 5.9 x 0.9
ISBN: 0470097833
Dewey Decimal Number: 332.7220973
EAN: 9780470097830
ASIN: 0470097833
Publication Date: May 4, 2007
Availability: Usually ships in 1-2 business days
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| Editorial Reviews:
Product Description
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.
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| Customer Reviews: Read 57 more reviews...
Excellent, but needs an update August 17, 2008
This is a great, highly readable and very informative book for anyone looking to buy or refinance a house. The take home message is that your mortgage broker is in the same category as your car salesman, except that your home will cost at least 10 times what your car will cost. You can't afford to go into the process ignorant or you are a sitting duck.
My only caveat is that there are a few missing pieces about how to translate the YSP percentage into the mortgage rate effect - how much, exactly, does a 1% YSP increase your mortgage rate? A little more explanation would clear that up.
In addition, this book badly needs a second edition. It was obviously written either before or just at the start of the recent mortage/foreclosure debacle. She never talks about the effects of the current tight credit market on a consumer's ability to borrow and what fees might be charged and how much you can actually negotiate today. Her FICO scoring categories, for example, are very out of date. Also, I know that there has been some crackdown on the mortgage industry, and some of the practices she mentions may have been actually made illegal, or at least come under more scutiny, but I'm not sure which ones. An update here would help.
Overall, this is a great book. You will get your money's worth and much, much more.
very useful August 6, 2008
2 out of 2 found this review helpful
Michelle Singletary recommended this book in the Washington Post. It's clearly written, full of very useful information, and fun to read. I only wish I'd had it before I signed the loan contract. But, no worries, an email to the author, a quick reply, and I received more valuable advice. Don't get a home loan without reading this book first.
mortgage rip-offs and money savers August 2, 2008
2 out of 2 found this review helpful
This is a great book for anyone thinking of taking out a loan for a home or home equity. This book can literally save you thousands of dollars and give you a good working knowledge of the mortgage industry and all the scams they run to drive up their profit at your expense.
Don't get a loan until you have read this book, period! June 14, 2008
3 out of 3 found this review helpful
Unless you work in the mortgage industry yourself this book is a must read before picking up that phone and calling a loan officer. Even if you have had gotten loans in the past, this book will be the best guide through the, at time seems mysterious/dark, mortgage alley. It is everything you will need to know to ensure and feel confidence that you have gotten a good loan. And that's big for me, to know and be able to sleep at night on a relatively big financial decision. ALL your questions will be answered in this one book. It is all collected and packaged for you. Why spend hours to search online, browse numerous websites and collect this valuable knowledge? It is all right here! It was an easy read too! I personally read it like a novel, the next page seems to answer exactly what I was about to ask. Please read, learn and be a savvy loan consumer for you own sake. It will save you and your loan officer a lot of time, grief and MONEY when you guys are speaking the same lingo.
A Survival Guide Like No Other May 31, 2008
3 out of 3 found this review helpful
As a retired attorney, I have read my share of how-to books in various areas of expertise. Many have disappointed for lack of follow through and updating techniques such as online access to the author, with up-to-the-minute links to web pages addressing new areas of concern. Carolyn Warren's incredibly thorough, professional and brilliant comprehensible book lacks nothing in this regard. In fact, I would place this book among the various genres as the #1 book I have read in the last year that has made it possible for me to actually understand what was once an almost impossible mess of information for the layman. Having no background whatsoever in banking, financial management, debt, mortgages, credit, equity loans etc., this was a perfect book for me to rely upon for clear and concise knowledge. Oh, and after reading this book along with accessing her free info online, you will be delighted to know that Carolyn Warren does not just leave the reader there. She actually answers your emails! Yes, an author who cares about you -- long after you have purchased and read her book! You just gotta get this one - she is a star who knows what you need to survive like no one else out there.
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