Mortgages 101

From the Publisher

“This new book provides important information from an experienced mortgage broker whose home-finance articles I have enjoyed for many years. Reed shares his insider home loan secrets, offering sage advice along the way on how to overcome frequent home-mortgage problems....On my scale of one to 10, this outstanding home-mortgage book rates an off-the-chart 12.” --Robert Bruss, nationally syndicated real estate columnist

“Reed, an experienced loan officer and columnist for RealtyTimes, offers an easy-to-digest look at the world of mortgages....Reed writes in a straightforward, conversational tone and offers appropriate cautions, such as not to reveal confidential information online. While much of this information is available elsewhere, Reed serves up useful advice that is rarely discussed....While there are books that cover this information in more depth, the q&a format makes this a worthwhile addition to the real estate shelves.” --Publishers Weekly

“With consumer-friendly language and an easygoing tone, Reed answers over 250 common, yet critical borrower questions. Originators can use this book chapter by chapter, or as a whole, to help educate consumers on the entire mortgage process….Give this book to any potential customer—first-time buyers, move-ups, and experienced homeowners alike—and they will come back to you more informed and confident in their mortgage proceedings….you and your customers will benefit greatly from this informative book.” --Mortgage Originator

“Written in Q&A, the advice in Mortgages 101 is unvarnished and to the point. Reed takes a dry subject and makes literally years of hard-gained knowledge digestible and usable in a thumbable loan manual.”

--RealtyTimes.com

“An indispensable guide to answer any question imaginable when you're buying a home or other property. If you own your own business, have had credit trouble or just want to learn more about the amazing array of current real estate mortgage products, Mortgages 101 can help.” --BookPage

"His lucid explanations translate confusing mortgage industry jargon into plain English for the nonfinancial reader....no-nonsense tone.” --Financial Planning

“…takes the guesswork out of getting a mortgages…If you don’t become an expert on mortgages after reading this book, don’t blame us.” – The Post-Standard

“Though a number of books cover mortgages for consumers, this helpful how-to is distinguished by its ‘Socratic’ style; many web-savvy readers will benefits from the familiar FAQ format. A welcome addition to public library business collections.” --Library Journal

“Reed follows the question-and-answer format and covers just about every issue that can come up, from how much to put down to the various types of mortgages available. Perhaps the best thing Mr. Reed does is explain, simply, how banks determine your creditworthiness." --The New York Times

Robert J. Bruss

On my scale of one to 10, this outstanding home-mortgage book rates an off-the-chart 12.
—Inman News

Publishers Weekly

Reed, an experienced loan officer and columnist for Realty Times, offers an easy-to-digest look at the world of mortgages. With definitions of the various types of loans, explanations of credit scores and a discussion of how the Internet has changed the real estate business, the book is a handy reference for anyone involved in real estate transactions-though best for beginners who want a map to navigate their way through the complexities of mortgages. The book explains basic issues such as the difference between renting and buying, which individuals at a bank actually approve loans and how to figure out debt ratio. More complex topics, like construction loans and getting online approvals, are also included. Reed writes in a straightforward, conversational tone and offers appropriate cautions such as not to reveal confidential information online. While much of this information is available elsewhere, Reed serves up useful advice that is rarely discussed. For example, there is a "rescission" period for refinanced mortgages that gives people a three-day grace period to get out of the mortgage agreement with no penalties; he also discusses various types of appraisals. While there are books that cover this information in more depth, the q&a format makes this a worthwhile addition to the real estate shelves. Copyright 2004 Reed Business Information.

Library Journal

It's hard to believe that someone could come up with 250 questions to ask about mortgages, so give seasoned loan officer Reed some credit. He starts with the basics, like renting vs. buying, and continues through the closing process. His concise answers are often followed by "tell me more" sections. Reed spends a lot of time going through the specifics on various types of forms, which would seem helpful for those in the midst of the process. He also offers insights into what's going on behind the scenes. For instance, he explains how loan officers might drag their feet on locking in your rate as they look for market gains for themselves. For those wanting to "shop" online, an entire chapter is devoted to the Internet and mortgages. Refinancing and home equity loans get coverage, too. The monthly payment schedules and glossary make trusty reference tools. Though a number of books cover mortgages for consumers, this helpful how-to is distinguished by its "Socratic" style; many web-savvy readers will benefit from the familiar FAQ format. A welcome addition to public library business collections.-Carol J. Elsen, Univ. of Wisconsin Libs., Whitewater Copyright 2004 Reed Business Information.