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Title: The 106 Mortgage Secrets All Homebuyers Must Learn--But Lenders Don't Tell by Gary W. Eldred ISBN: 0-471-26395-8 Publisher: John Wiley & Sons Pub. Date: 21 March, 2003 Format: Paperback Volumes: 1 List Price(USD): $16.95 |
Average Customer Rating: 4.23 (13 reviews)
Rating: 3
Summary: Good presentation of concepts - lacks real world experience
Comment: This book provides a fairly comprehensive look at mortgages. Unfortunately, the author didn't seem to have the time or desire to have someone with real life experience in home financing review it before publication (there are no acknowledgements mentioned as I would expect in a book such as this). As a new loan officer, I read the book hoping to validate and improve my own understanding of the industry. What I found is that there are enough inconsistencies between the text and my experience that it places the entire book in doubt. For example, he leaves out a critical parameter when comparing ARMs - the initial adjustment cap.
I disagree with a prior comment relating the book infomercials - investing wisely in real estate has made many a person weathy and most of the ideas presented in the book should help increase your return on investment over time (no get quick rich scemes here).
I award 3 stars because there is a lot of good information in a easy-to-read format. A critical review would have made it much better and more reliable.
Rating: 5
Summary: Wealth of knowledge for the amateur
Comment: I am new to real estate investing and I have minor experience as a loan officer. This book provides in depth detail and easy to understand knowledge on the most effective ways to obtain the correct mortgage financing for an individual based on their situation or need. The books also gives you a great amount of resources to obtain more help and knowledge on the subject of mortgages. I would highly recommend this book, and I might also add it is very easy to read and comprehend the concepts discussed in the book.
Rating: 5
Summary: Thorough and objective guide
Comment: I just closed a loan on my first home and I found this book to be a helpful guide. It's not as sensationalistic as the title might imply, but it prepared me to know what questions to ask and how to get my credit,income, and bills in shape before I put in my loan application. Although I took out a new loan, this book goes into assumptions, seller financing, and other financing choices that I didn't know much about. I think a lot of people looking to buy might find these alternatives worthwhile. Overall, a profitable read.
P.S. This book is not an "infomercial" or "get rich quick" hype. It also strongly warns against misleading a lender--none of the advice is "fraudulent." I find it interesting to read other reviews and sometimes wonder if they actually read the book they are reviewing. Not just here, but with many other popular authors. Oh well, such is life.
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Title: The 106 Common Mistakes Homebuyers Make (and How to Avoid Them), 3rd Edition by Gary W. Eldred ISBN: 0471126586 Publisher: John Wiley & Sons Pub. Date: 18 January, 2002 List Price(USD): $16.95 |
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Title: Mortgages for Dummies by Eric Tyson, Ray Brown ISBN: 0764551477 Publisher: For Dummies Pub. Date: 01 April, 1999 List Price(USD): $16.99 |
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Title: 100 Questions Every First-Time Home Buyer Should Ask, Second Edition : With Answers from Top Brokers from Around the Country by Ilyce R. Glink ISBN: 0812932358 Publisher: Three Rivers Press Pub. Date: 31 December, 1999 List Price(USD): $18.00 |
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Title: Home Buying for Dummies by Eric Tyson, Ray Brown ISBN: 0764553313 Publisher: For Dummies Pub. Date: 19 January, 2001 List Price(USD): $21.99 |
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Title: How to Buy a Home When You Can't Afford It by Robert Irwin ISBN: 0071385185 Publisher: McGraw-Hill Trade Pub. Date: 24 June, 2002 List Price(USD): $14.95 |
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