A few interesting and favorite topics covered in 300 words or less: * What are the new guidelines for FICO scores and loan to values and how do they affect mortgage rates? * What is Rapid Rescore Response and can it really improve your credit score in 48 hours? * How to get money from your 401k without a penalty * When can a loan from my father-in-law be called a gift? * Why is now so important to show as much money in reserves as you can? * PMI v self insured. Which one is the bigger rip-off? * What will it now cost you to refinance your home and pull cash out? * Appraisal fraud and how is it affecting the value of your home * What is an appraisal contingency clause vs. a mortgage contingency clause and how can you lose your deposit if you do not know? * Points, origination fees, discount fees and broker fees. How do you avoid them all? * What really affects the mortgage rates? * Where do you find the best lawyer in town?
Dale Robyn Siegel is a licensed attorney in New York and President of Circle Mortgage Group, in Harrison, New York. She is an adjunct professor at NYU Schack Institute of Real Estate as well as Baruch College. She is the editor for the blog "Diaries of a Mad Mortgage Broker" and has been speaking to the public and teaching real estate professionals about mortgage finance for the past ten years. She is a sought after expert on all things real estate and frequently quoted in national publications such as The New York Times, Smart Money and BusinessWeek. She is currently working on a second book, The 20 Hour S.A.F.E. Comprehensive Mortgage Loan Originator Course Textbook. This course is now required nationally for all those mortgage professionals with direct consumer contact. She is teaching the course herself in the New York Metropolitan area. Siegel holds both an MBA and a Law degree which have given her the base to be a leader in her field. Mortgage Locator.
This recent book spells out everything you could possibly need to know about borrowing for a mortgage in 2010. It starts with the basics, and defines the lending process and all the options available for a borrower in this new age of lending. The book is very thorough and defines your FICO score and how it can affect your interest rate, and also what you can do to improve your credit rating. The old rules of borrowing from 10 or 20 years ago have changed substantially in the past few years, and Dale Siegel's entertaining yet detailed book can help anyone learn how things are different. There are still a lot of options available for any loan, and she steps through the various loan products, insurance, fees and add on products available in our world's very complicated borrowing procedure, from applying for the original loan through the final closing. The amazing thing about her book is she explains all of this while still keeping the book engaging and interesting. I would highly recommend this book for anyone preparing to enter the world of home ownership and taking on the largest debt of their lives. Even second and third time borrowers can find this book useful since the borrowing process has likely changed significantly from when they acquired their first mortgage.
As a mortgage professional for over 20 years, Dale's writing on the topics necessary for any homebuyer, whether it be first time or repeat is the perfect read.
The book is quick, concise and inserts the author's brand of humor on what most folks would feel is a very dry topic. Mortgage Locator.
I firmly believe in educating my buyers and this is a book I will recommend to them.
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