Decoding the New Mortgage Market

Insider Secrets for Getting the Best Loan Without Getting Ripped Off
Erscheinungsjahr 2010
ISBN: 978-0-8144-1400-2
Verlag: McGraw-Hill Education

Buch, Englisch, 240 Seiten, Format (B × H): 150 mm x 231 mm, Gewicht: 383 g

The housing market is in turmoil, but if there’s a silver lining, it’s the fact that purchase prices are at historic lows. Sure, there are still plenty of predatory lenders waiting to exploit the naïve potential buyer, but those who do their homework will be rewarded with a fair price and manageable mortgage terms.Decoding the New Mortgage Market is a map to finding the best and most realistic mortgage deals while navigating past potential obstacles and traps. Filled with money-saving advice.Because lenders and buyers alike have gotten “burned” in the mortgage crisis, find ing and qualifying for a manageable loan may now be more difficult. Read ers will find that Decoding the New Mortgage Market makes the search both easier and more fruitful, and that their dreams of home ownership are still within their reach.

Autoren/Hrsg.

Reed, David

Fachgebiete

• Wirtschaftswissenschaften Betriebswirtschaft Betriebswirtschaft: Theorie & Allgemeines

Inhaltsverzeichnis

CONTENTS Chapter 1 What Happened, and How Did We Get Here? 1 Chapter 2 Fannie Mae and Freddie Mac: Underwriting Changes That Affect Every Potential Homeowner 16 Chapter 3 Government-Backed Loans: VA, FHA, and USDA 46 Chapter 4 Qualifying the New Way: Understanding Automated Underwriting Systems 74 Chapter 5 Banks, Mortgage Banks, and Mortgage Brokers in the New Mortgage Market 102 Chapter 6 Loan Programs: Which Is Right for You? 134 Chapter 7 Funds for Closing: Down Payments and Closing Costs 161 Chapter 8 What to Do When Things Go Wrong 195 Appendix: Monthly Payment Schedules 212 Glossary 218 Index 245

Über Autor(innen)

David Reed is the author of many books including Mortgages 101 (9780814401668) and Mortgage Confidential (9780814473696). As a senior loan offi cer, he has closed more than 2,000 mortgage loans. He is a columnist for Realty Times and Mortgage Originator magazine.