Author and senior loan officer Reed (
Mortgages 101; Mortgage Confidential) is back to impart advice and insider tips for people finding themselves in the current rush to
refinance. Here, he skillfully outlines the process from start to finish, examining
refinancing with a dollars-and-cents formula to calculate recovery time and providing an overview of the different mortgage programs and vendors available today. Helpful advice, like requesting to review the title report and appraisal, is included throughout. Reed also dispels many common misperceptions surrounding the mortgage industry, such as competitive interest rates, online lead generators, and aggregator sites. Negative-amortization and subprime loans are briefly explored but could have been developed further. Still, the author ably provides concrete counsel for obtaining rate quotes and picking a loan officer and does a good job of showing how to compare apples to apples in an attempt to determine the best deal available. Predatory lending and loan fraud are also discussed. This title would serve as a nice post—subprime mortgage crisis update for real estate
finance collections. Recommended for all public libraries.—Tracy Mohaidheen, M.L.I.S., West Bloomfield, MI
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
“Author and senior loan officer Reed…is back to impart advice and insider tips for people finding themselves in the current rush to refinance. Here, he skillfully outlines the process from start to finish...Recommended for all public libraries.” --Library Journal
One of Library Journal's Best Business Books of 2008: "Senior loan officer Reed offers an easy-to-understand but still admirably detailed guide to shopping for mortgages and refinancing the mortgage you have; helpful tips and commonsense strategies abound."
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