The mortgage market is in a state of crisis, and the recent takeovers of Freddie Mac and Fannie Mae have made it even more daunting. Now, more than ever, borrowers need to take responsibility for their financing choices. As an expert in the mortgage industry, Richard Giannamore has helped thousands of people avoid the traps that can cost them a fortune. Now, in Navigating the Mortgage Minefield he shows anyone considering the purchase or refinancing of a home how to take control of the loan process, not fall victim to it. The book provides borrowers with invaluable tools like:
• self-assessments that will help them choose the best loan features and providers for their needs
• clear explanations of “fine print” obligations in the mortgage note and the consequences of not meeting them
• a list of borrowers’ rights
• warning signs to detect and avoid loan originators who place their own interests first
• remedies for homeowners who find themselves in trouble
Complete with a detailed worksheet allowing readers to determine how much house they can really afford, rather than how much they can qualify for, this book will help homebuyers and homeowners make smart choices and avoid disaster.
