Homebuyers Beware: Who's Ripping You Off Now?--What You Must Know About the New Rules of Mortgage and Credit |  | Author: Carolyn Warren
Publisher: FT Press
Category: Book
List Price: $19.99
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Seller: hike&bike books
Rating:  42 reviews
Sales Rank: 146929
Media: Paperback
Edition: 1
Pages: 288
Number Of Items: 1
Shipping Weight (lbs): 0.8
Dimensions (in): 8.9 x 5.9 x 0.9
ISBN: 0137020163
Dewey Decimal Number: 332.722
EAN: 9780137020164
ASIN: 0137020163
Publication Date: October 25, 2009
Availability: Usually ships in 1-2 business days
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| • | ISBN13: 9780137020164 | | • | Condition: NEW | | • | Notes: Brand New from Publisher. No Remainder Mark. |
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Product Description
"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 Get the Best Mortgage Deal in Today's Real Estate Markets--and Avoid a Whole New Generation of Scams! *Exposes new secrets, lies, and scams the mortgage industry doesn't want you to know about*Reveals how to save thousands right now by finding the best rate and negotiating the best deal*Guides you step-by-step through improving your credit and preparing to buy, even if you've faced foreclosure 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, 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. From its up-to-the-minute guidance on real estate negotiation to its powerful tips on getting lower interest rates and avoiding bogus junk fees, this may be the most valuable book you ever read! *Who's ripping you off now High-tech "smoke and mirrors" that can trick you into overpaying*Quick, easy, powerful ways to fix your credit Innovative ways to raise your credit score or recover from a foreclosure or short sale*Uncovering the costly secrets of the Yield Spread Premium Get past your banker's lies, learn the truth, and save a fortune*The latest laws and credit rules and what they mean to you So-called anti-predatory laws and codes of conduct actually hurt homebuyers. Learn what you can do to protect yourself from big corporation greed.*New plans for recovering from bad credit, foreclosures, or short sales Step-by-step techniques that erase bad credit and raise your credit score faster than you ever thought possible. Learn how to recover from a foreclosure
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| Customer Reviews:
Showing reviews 1-5 of 42
 This book will save you many,many times the price you pay for it November 20, 2009
Temujin53 (Rancho Cucamonga,CA)
7 out of 7 found this review helpful
As a small businessman and even smaller real estate investor,a licensed R.E.Broker and General Contractor,I wholeheartedly recommend Homebuyers Beware to all home buyers,first timers and seasoned investors alike.
I read Carolyn Warren's first book,Mortgage Rip-Offs,a few months ago and liked it so much I contacted her for consultation re:refinancing of my properties.Eventhough I bought my first home over 30 years ago and many since,I must confess I know NOTHING about yield spread premium and the way brokers/lenders use YSP to add income to themself before reading that book.The YSP information alone was worth thousand times the cost of the book(approx.$13 from AMAZON.COM)because I know absolutely, definitely that the brokers' additional income must come only from one source : borrowers like you and me.
There were other important information for ALL mortgage seekers in the first book :how to negotiate for lower fees and rates,whether to pay point,how and what to do with junk fees etc.All those and more were explained and clarified further in Carolyn's second book,Homebuyers Beware.
In her new book,Carolyn takes her readers to the real estate mortgage market situation today.This is most important due to the fact that rules for qualifying for new and refi mortgages changed substantially in the last 2 years it's like we're looking at 2 different creatures altogather :
---no more easy no loan docs. loan,no more easy qualifying loans
---good credit is a must.So are substantial down payment required in most cases
---W-2,income tax returns and bank staments are all standard required docs.
---etc.,etc
Carolyn explained all of the above in practical details,with intended benefit for the consumers.Even for readers who've no credit,with bankruptcy/shortsale in their credit report or who want to repudiate bad info. in his/her credit files.The book is,like her first book,very easy to read and full of helpfull pointers that can be used to save unnecessary fees/chrges made by lenders/brokers.
This book will save you many,many times the price you pay for it.
Homebuyers Beware November 2, 2009
NY-MORTGAGE-PRO (Long Island, NY)
7 out of 8 found this review helpful
As a student of business finance for over 40 years, I've been in the trenches of real estate and Mortgage lending for over 25 years. I assure you that my assessment of the latest block busting book on fraud and duplicity in this industry is this:
If you are planning to buy a home or refinance your current mortgage, you must heed Carolyn Warren's "Homebuyers Beware".......
Avoid unscrupulous banks, brokers and lenders of all kinds. YES, UNSCRUPULOUS loan officers still lurk in the brick and morar of those behemoth lending institutions, the BANKS!!!!! Find out what their tricks are. You need to read, NO, study this easy to read guide to stress free engagement of this industry. Do NOT, and think of this: would you jump out of an airplane without a parachute ???
Wether it's finding the lowest cost loan,improving your credit score for the lowest rate, homebuyer guidance or avoiding mortgage fraud and scams, Carolyn Warren has given Main Street how to navigate these tracherous waters.
Buy it !!! Try it !!! Fly with it !!! And you won't kick yourself for "being in it, to win it".
Your house may still be your largest investment... January 14, 2010
Ardeal (Atlanta, GA United States)
3 out of 3 found this review helpful
... unless you get ready for kids in college. But even then, who can say they can afford to skip on potential thousands of Dollars because they were not informed regarding their mortgage? This book provides the latest and greatest regarding your loan - including tacticts used to get one to pay more. It gives practical examples, analyzes various topics among its 30 chapters, topics such as credit, lower cost loans, fraud and scams, etc. Do the simple math - it may take a few hours to read this book, but if you divide the savings by the few hours, you'll realize that you may never save that much money in a few hours. Definitely get this book if you plan on buying a home or just refinancing.
Borrowers Beware! November 28, 2009
Milarepa (CA USA)
2 out of 2 found this review helpful
After the recent meltdown of the mortgage and finance industry. the federal government put laws and policies into place that make it safer for consumers to have credit to buy a mortgage, right? Wrong! While it appears that laws are being enacted to protect borrowers in the future, the overall guideline of "buyer beware" still applies because you're still walking into shark infested waters when you take on debt or sign a mortgage for a home.
This being the case, what should you do to protect yourself from the dangers and pitfalls of mortgages? You educate yourself about credit and learn as much as you can about the mortgage industry and this book can help you do just that.
This book is organized in 30 short chapters that each include several valuable tips that include topics like identity theft, misleading radio ads, false "free appraisals", home value ripoffs, and the truth about fees. This book goes a long way towards making you a smarter and wiser home buyer and I consider it to be a essential reading for anyone planing to buy a home.
You'll never regret reading this book but you will regret not reading it if you go ahead and sign a mortgage without having this knowledge.
An Insider's Tell All of the Home Loans Business November 30, 2009
Kat (San Francisco, CA)
2 out of 2 found this review helpful
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. Her new tell-all on the mortgage industry exposes so many of the lending industry's favorite frauds, 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. 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.
So many mortgage guides are outdated or prioritize the easy loan types to discuss (e.g., conventional), ignoring that FHA and other government-backed loans are rapidly increasing in use by buyers coast to coast. Not so with "Homebuyers Beware." Warren covers topics I have never seen covered elsewhere, but that I hear real-life buyer/borrowers ask about all the time, and she covers them concisely yet thoroughly. For example, she shatters the common misconception that those free credit reports one can order via the TV commercials are a good substitute for the reports pulled by mortgage brokers. She covers what happens when you go online and click on those "let mortgage lenders compete for your business" adverts. She gives some bullet points about when you can buy another home after you've lost one to foreclosure or short sale. She covers how to know when you should lock your interest rate. And the answers she gives ring truly useful for those who actually want to close their transactions, unlike the authorial advice I've seen in many books, which recommend borrowers take courses of action unlikely to ever result in a closed escrow.
For anyone who are considering to buy a house in the future, this book is Highly Recommended!
Showing reviews 1-5 of 42
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