Comments on: The Home Mortgage Book: Insider Information Your Banker & Broker Don’t Want You to Know

By: RefinancingTips

RefinancingTips — Fri, 02 May 2008 21:07:58 +0000

Great read. I think I’ll subscribe to this as it has some good info! Thanks. I do apppreciate the blog

By: K. White

K. White — Thu, 06 Mar 2008 14:49:24 +0000

The first time I bought a house I was completely overwhelmed by the terms, paperwork, and procedures thrown at me; from the house hunt, to the offer process, to the mortgage process!
This book completely broke down for me everything that “the other side” seems to already know.

I found it helpful to read about purchase agreements, home inspections, and other key points related to the actual selection and agreement on the details of the house.
Additionally I found the sections about the different types of mortgages and the full details about each type of mortgage completely explained in a way that can be understood by someone who is not in the mortgage business!

After reading the information in this book I feel so much more informed and confident about approaching the process of buying my second home.

5 stars all around for this book!

By: Terrence McElhaney

Terrence McElhaney — Thu, 28 Feb 2008 22:04:24 +0000

The Home Mortgage Book: Insider Information Your Banker & Broker Don’t Want You to Know

Buying a house can be so exciting particularly for a first time home buyer. The idea of actually owning one’s own piece of land is incredible. However the process and the complexities of mortgages can be a confusing headache at best. The Home Mortgage Book is a really good book for getting rid of some of that confusion.

This book breaks down the mortgage process step by step. Elements beyond just the mortgage payment like escrow and mortgage points are explained. The Mortgage Book doesn’t just explain mortgages but explains the entire process of buying a house. The reader learns how what to look for when inspecting a house and how to determine what type of home is right for them.

When buying a house there are so many decisions to make. Several times throughout the Mortgage Book the author helps the reader make a decision by weighing the advantages and disadvantages of that choice. Should one buy a manufactured home or not? Should one use a bank or mortgage company? Should one get a fixed or adjustable loan? The reader isn’t told what to do but just given more information in order to make an informed decision.

Even if one isn’t buying a house right now, it’s a good book. This is simply because everyone needs to at least know what the mortgage process is like. This is just good information that every adult should know. Also if a reader has less than perfect credit, tips are given on how to improve credit. So that when one is in the market to buy that first home he or she can be knowledgeable about what to expect.

Overall this is a great book for the first time home buyer. The language is simple and thorough explanations are given without bogging the reader down in too many unnecessary details. This book is a really good idea for someone in their twenties who may have just graduated college or newlyweds wanting to start a family. Even if you’re not buying a house at the moment it’s just good information to know.

5 stars

By: Michael Wade

Michael Wade — Thu, 21 Feb 2008 18:59:49 +0000

Do you want to buy a new home or do you need to buy a new home? And does this home have to be a new one? These are the questions versatile writer Dale Mayer puts to the reader right away - she even has a chapter about the benefits of staying out of the housing market and simply renting instead. Before jumping into such a big purchase, she encourages a very honest self-assessment.

All the hurdles in the home buying process are here: from down payments, attorneys and insurance to closing costs, lenders and how to build equity. Mayer sets out to equip you with the information needed to be smart about what is, for most people, the biggest financial commitment they ever make.

Especially helpful are sections that put the reader in the shoes of the lender. There’s a chapter on avoiding mistakes in loan applications that’s pretty insightful.

Probably best recommended for newcomers to the market. But Mayer does include lots of info on refinancing, selling and second mortgages. I’m not sure if there’s any new ground explored here that hasn’t been tackled in a gazillion other books about mortgages, but Mayer writes for us newbies and makes the intimidating home buying process less confusing. I found this book well worth it. Serves as a handy reference too if you need quick info on finding assets or improving your chances to receive a loan. In light of the American foreclosure crisis going on now, that’s some timely advice.

By: Sandra Speer

Sandra Speer — Thu, 14 Feb 2008 01:51:47 +0000

If you are about to buy a house, the first thing that you should do is purchase and read The Home Mortgage Book by Dale Mayer. The author has written a book that offers you information that your banker and broker do not want you to know. The Home Mortgage Book will help you to understand the difference between buying the house with the mortgage payment that you can afford versus buying the house that your realtor may say is right for you. He helps you to know how to stay within your financial means, the different types of mortgages, where to find sources that you might not know exist for home loans and how to make sure that the house you purchase is the right home for you and your lifestyle.
Dale Mayer will open your eyes to facts that you might not think of, which will help you acquire the house of your dreams. He explains that it is best to take the needed steps that most buyers fail to take to lower the possibility of foreclosure even if your life undergoes drastic changes after moving in. He talks extensively about trying to predict these changes, through explaining how to buy the house that fits your needs rather than buying the largest house that you think you can afford.
The lessons that Mr. Mayer assists you in learning will help you to understand how to prevent yourself from becoming victim to your banker or broker. In addition, he helps you to understand home inspections and how an attorney can help you with what is for most people the most important purchase they make in a lifetime. The author’s goal is to help you become a home owner for life.

By: Jim Cornall

Jim Cornall — Wed, 13 Feb 2008 20:18:06 +0000

While this book is primarily about mortgages, it would be wise to point out that it, in fact, covers everything from the moment that someone decides that they’re going to buy a house. And, as such, it’s a great step-by-step guide to the entire process.
In fact, some of the introductory chapters, on considerations before taking the plunge are as valuable, if not more, than the more detailed banking and mortgage chapters.
The style of writing is very factual and clear, which makes it useful reading, but, at times, a little dull. However, it’s good, relevant, information, and comprehensive, so it’s only a minor irritant.
A better title – or sub-title – for the book might have been something along the lines of “So you want to buy a house? A step-by-step guide from decision making to mortgage.” Actually, the book’s title doesn’t even come close to doing the book justice, it’s a guide for every step of the home-buying process, and, as such, has to be regarded as a very useful – if not essential – book.
The information on every step of the process is top notch, and the tables and charts invaluable. This could easily be the homebuyers’ Bible.
While not many institutions would necessarily want the customer to be totally informed about the entire process, it would be good if the first step in anyone buying a home would be the compulsory purchase of this book. It’s that useful.
With the financial world and mortgages under scrutiny, it would be wonderful for all considering buying a home to save themselves a lot of potential problems – and a lot of money – by first investing in this book.

By: K. Peoples

K. Peoples — Mon, 11 Feb 2008 14:13:53 +0000

The Home Mortgage Book is an all inclusive guide to buying your dream home. The book talks you through each step of the process and it’s a good thing to keep handy. If you are thinking of buying, it’s a great reference. The book also addresses if you already have a mortgage and you are considering changes.

There are worksheets to help you see where you are before you start the process. The information is good for you to read to help prepare you so that you are not taken advantage of.

If you already have a mortgage, it’s a great tool to help you understand all the terms. The book even offers suggestions if you are unable to pay. It outlines what a reverse mortgage is without someone trying to sell you on something.
5 Stars*************

By: Becky Blanton

Becky Blanton — Fri, 08 Feb 2008 01:30:30 +0000

Wow. I LOVE this Home Mortgage Book. I’m getting ready to buy my first house next year and am dreading it. Not anymore. My brother is a real estate agent in Florida and my eyes just glaze over when he tries to explain points and mortgages and money stuff to me. I thought this would be dry and more of the same but wow. It’s very easy to read and it’s like having a very good friend who knows what they’re talking about explain things step-by-step. It’s better than a mortgage for dummies book. It’s like you guys take my hand and we just walk through it! I LOVE the checklists on things to consider when deciding on what kind of house to buy. It’s like a real list I would put together. If my brother could explain it this easily I’d have been ahead of the game. This is perfect!

I like that there are website URLs listed so I can get more information. I love the way the chapters are laid out, that you take your time explaining each step of the process - beginning with the decision to buy a house. I can take this book and sit down and get through each phase of the home buying process next year (I’m going to start the deciding what I need versus what I want in a house this weekend). Seriously. It’s like finding out your best friend is secretly a real estate agent who will tip you off to all the things you need to watch for when buying a house. I like that you take the TRUTHFUL approach that sellers, brokers and agents really do want to just push you through the process and make the most money they can! That’s exactly what I’ve experienced when I’ve gone house hunting before. I felt like a piece of meat. I LOVE THIS BOOK. It should be every home buyers bible. The index is detailed and each chapter is easy to read. I think a middle school kid could read and understand this book. It doesn’t talk down or anything - it’s just very well written. Anyway, I didn’t see the sample reviews you said you sent, but if you’ll forward them on to me - I’ll get right to it. VERY GOOD BOOK. Is it out on the market yet? I’m ready to tell my friends about it. I know lots of real estate agents and I’m going to suggest they buy it for their customers. Seriously. I think I can go buy a house now! I really like the tip about the attorney. When I tried to get an attorney at one point in my last quest - everyone involved assured me I “didn’t need one.” When I’m ready this time - I’m getting one! Sorry - I REALLY DO LOVE this book!

By: Chuck Moyer

Chuck Moyer — Thu, 07 Feb 2008 20:36:40 +0000

Before you start into the home buying process, buy this book. Right from the beginning Dale Mayer spells it out: “…purchase of your dream home can be a confusing and daunting experience.” In an easy, explaining style Mayer leads you through the experience, leaving you informed and with eyes wide open.

Many books on such a complex and life altering event like home purchase, tend to either stray on overwrought details for particulars that are beneficial to only a few or deal in cliché or shallow descriptions and glossed over details that end up being no help at all. The Home Mortgage Book has balanced a readable and informational tone with an obvious knowledge and logical sequence that will help anyone, but particularly novices in the mortgage process.

Mayer has done his research and offers honest and valuable tips that will save the home owner money not only on their initial purchase, but in managing the financial responsibilities and challenges over the life of the mortgage. His suggestions around PMI insurance, refinance guidelines, and peculiarities between Reverse Mortgage, Second Mortgage and HELOC more than pay back the investment in this book.

More than just a mortgage book, there are tips and worksheets for financial analysis and a blunt discussion on wants versus needs in your home features and options selections. Additional sections on managing your credit, the case for renting and doing research and obtaining advice go a long way to avoiding “buyer’s remorse” and leaving you secure and happy as a homeowner.

Rating: 5 of 5

By: Edith Knehans

Edith Knehans — Thu, 07 Feb 2008 15:38:25 +0000

Real estate foreclosures are one of the consequences of the present economy. By the very nature of foreclosures, opportunities are presenting themselves to those that follow the trends in the marketplace. The Complete Guide to Negotiating, Locating and Buying Real Estate Foreclosures is a great step-by-step instruction guide for navigating through the foreclosure market. The Complete Guide not only provides guidance to this sensitive market but also gives examples of real-world situations.

The step-by-step instruction and practical advice educate you on how to understand foreclosures, find properties, evaluate the investment, and uncovering avenues for marketing. You’ll learn how to discover the best deals on foreclosure properties before they go to auction and utilize available data to make the process simple. You’ll also learn the role of the lender in the process as well as guidance as to what to do after the property is purchased.

The business of foreclosure investing can provide a means to a great living. This book is a useful handbook for those interested in investing in real estate, whether you are a novice or a repeat investor in the foreclosure market. You will have access to a plethora of know-how, experience, and years of success. You will learn from people who have invested in this market segment. This book offers more than just ideas; it offers practical advice that works in the real world. What’s more, the publisher is donating a portion of their profits to the Humane Society, on behalf of the passing of their beloved office canine, Bear.