What Lenders Don't Want You to Know: How to Keep from Being Surreptitiously Ripped Off by Unscrupulous Mortgage Professionals

If you seek information that will help save you money on a mortgage transaction youve found it! Kevin Melody spells out trade secrets of the mortgage industry from an insiders perspective with frank honesty and in plain English. He shows how most borrowers shop for mortgages like they shop for cars: they find the product they want at a price they believe is fair then they strike a deal. Unfortunately unlike a car purchase a mortgage transaction will not close on the day the deal is made. Therefore unless the borrower is sophisticated enough to know how to make it stick he really has no deal at all. He has committed himself to the lender but the commitment may not be mutual. In fact the rates costs even the product itself may change later; at a time when the borrower has not only an emotional stake in proceeding with the transaction but also a financial one; and is therefore unlikely to cancel. Whether youre a first-time buyer or a property owner with many mortgage transactions under his belt you will save time money and frustration by reading this book.