Homebuyers Beware: Who’s Ripping You Off Now?–What You Must Know About the New Rules of Mortgage and Credit
- ISBN13: 9780137020164
- Condition: New
- Notes: BUY WITH CONFIDENCE, Over one million books sold! 98% Positive feedback. Compare our books, prices and service to the competition. 100% Satisfaction Guaranteed
“Carolyn Warren is my go-to expert for mortgage industry information. She not only helps you avoid rip-offs, she helps you know what questions to ask and how to ask them. Full of tips, scripts, and sample letters, Homebuyers Beware is an extremely valuable book that I recommend to all my readers!”
–Alison Rogers, “Ask the Agent” columnist, CBS Moneywatch.com
“In this fun-to-read volume, mortgage industry insider Carolyn Warren tells you what real estate cheats and mortgage scammers do NOT want you to know: the tricks, the deceptions, and the outright frauds that would otherwise add thousands, maybe tens of thousands of dollars to your mortgage. Get it. Read it. And take it to the mortgage broker with you. You’ll be glad you did!”
–Clayton Makepeace, The Total Package, Makepeacetotalpackage.com
“In Homebuyers Beware, Carolyn Warren directs her keen eye at the mortgage and credit markets in the wake of the housing bubble. With an insider’s knowledge, plenty of interesting anecdotes, and helpful reference information, Warren is a cheerful teacher leading readers down the path to homeownership and pointing out pitfalls along the way.”
–Ben Meyer, InternetBrands.com
Get the Best Mortgage Deal in Today’s Real Estate Markets–and Avoid a Whole New Generation of Scams!
- Exposes new secrets, lies, and scams the mortgage industry doesn’t want you to know about
- Reveals how to save thousands right now by finding the best rate and negotiating the best deal
- Guides you step-by-step through improving your credit and preparing to buy, even if you’ve faced foreclosure
Everything you thought you knew about financing a house has changed. Your future depends on knowing today’s mortgage and credit realities: Relying on older information could cost you a fortune or keep you from buying a house altogether. In Homebuyers Beware, Carolyn Warren reveals the new realities of home financing and shows exactly how to take advantage of them, whether you’re buying your first home, refinancing, struggling with imperfect credit, or planning to invest in real estate.
Homebuyers Beware reveals new secrets homebuyers simply can’t afford to miss and exposes new scams that target today’s eager consumers–including new loans that look great on paper but are every bit as dangerous as yesterday’s subprimes. Unlike other mortgage guides, this book fully reflects today’s radically new mortgage requirements, in addition to the latest federal housing legislation and how to improve your credit rating. From its up-to-the-minute guidance on real estate negotiation to its powerful tips on getting lower interest rates and avoiding bogus junk fees, this may be the most valuable book you ever read!
- Who’s ripping you off now
High-tech “smoke and mirrors” that can trick you into overpaying - Quick, easy, powerful ways to fix your credit
Innovative ways to raise your credit score or recover from a foreclosure or short sale - Uncovering the costly secrets of the Yield Spread Premium
Get past your banker’s lies, learn the truth, and save a fortune - The latest laws and credit rules and what they mean to you
So-called anti-predatory laws and codes of conduct actually hurt homebuyers. Learn what you can do to protect yourself from big corporation greed. - New plans for recovering from bad credit, foreclosures, or short sales
Step-by-step techniques that erase bad credit and raise your credit score faster than you ever thought possible. Learn how to recover from a foreclosure
Rating: 
(out of 52 reviews)
List Price: $ 19.99
Price: $ 11.37
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Review by Temujin53 for Homebuyers Beware: Who’s Ripping You Off Now?–What You Must Know About the New Rules of Mortgage and Credit
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As a small businessman and even smaller real estate investor,a licensed R.E.Broker and General Contractor,I wholeheartedly recommend Homebuyers Beware to all home buyers,first timers and seasoned investors alike.
I read Carolyn Warren’s first book,Mortgage Rip-Offs,a few months ago and liked it so much I contacted her for consultation re:refinancing of my properties.Eventhough I bought my first home over 30 years ago and many since,I must confess I know NOTHING about yield spread premium and the way brokers/lenders use YSP to add income to themself before reading that book.The YSP information alone was worth thousand times the cost of the book(approx.$13 from AMAZON.COM)because I know absolutely, definitely that the brokers’ additional income must come only from one source : borrowers like you and me.
There were other important information for ALL mortgage seekers in the first book :how to negotiate for lower fees and rates,whether to pay point,how and what to do with junk fees etc.All those and more were explained and clarified further in Carolyn’s second book,Homebuyers Beware.
In her new book,Carolyn takes her readers to the real estate mortgage market situation today.This is most important due to the fact that rules for qualifying for new and refi mortgages changed substantially in the last 2 years it’s like we’re looking at 2 different creatures altogather :
—no more easy no loan docs. loan,no more easy qualifying loans
—good credit is a must.So are substantial down payment required in most cases
—W-2,income tax returns and bank staments are all standard required docs.
—etc.,etc
Carolyn explained all of the above in practical details,with intended benefit for the consumers.Even for readers who’ve no credit,with bankruptcy/shortsale in their credit report or who want to repudiate bad info. in his/her credit files.The book is,like her first book,very easy to read and full of helpfull pointers that can be used to save unnecessary fees/chrges made by lenders/brokers.
This book will save you many,many times the price you pay for it.
Review by Judy Smith for Homebuyers Beware: Who’s Ripping You Off Now?–What You Must Know About the New Rules of Mortgage and Credit
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If I were going to buy a new home, I would read this book very carefully because it’s filled full of information that you need to know to be prepared. For one thing, you really can’t trust anyone but yourself to look out for your best interest. She gives great examples of how people have been ripped off and they thought they were getting a bargain. For instance, the “no down” when buying a house may be no down payment then, but you will pay for it later and in another way. There are lots of costs added on that you can avoid if you read this ahead of time and go prepared.
She recommends always having your own real estate agent and mortgage broker (check them out to make sure they are honest though!). After reading about all the trouble you can get into on your own, I am in agreement with her.
She also explains how you can get your credit rating up, how foreclosing on a house can hurt it bad and how you can get it back to normal. Since banks are no longer loaning credit for houses except to people with excellent credit rating, then it makes sense to have yours in great shape before you even try to buy.
She tells of all the fees involved (some aren’t even needed but you’ll have to read the book to find out which ones they are) and how you can get them lowered and save thousands of dollars.
And there are a lot of scams going on for home buyers that you need to be aware of.
It’s well written, easy to read and easy to understand, and the author writes with a sense of humor, so it’s a fun read too.
Review by NY-MORTGAGE-PRO for Homebuyers Beware: Who’s Ripping You Off Now?–What You Must Know About the New Rules of Mortgage and Credit
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As a student of business finance for over 40 years, I’ve been in the trenches of real estate and Mortgage lending for over 25 years. I assure you that my assessment of the latest block busting book on fraud and duplicity in this industry is this:
If you are planning to buy a home or refinance your current mortgage, you must heed Carolyn Warren’s “Homebuyers Beware”…….
Avoid unscrupulous banks, brokers and lenders of all kinds. YES, UNSCRUPULOUS loan officers still lurk in the brick and morar of those behemoth lending institutions, the BANKS!!!!! Find out what their tricks are. You need to read, NO, study this easy to read guide to stress free engagement of this industry. Do NOT, and think of this: would you jump out of an airplane without a parachute ???
Wether it’s finding the lowest cost loan,improving your credit score for the lowest rate, homebuyer guidance or avoiding mortgage fraud and scams, Carolyn Warren has given Main Street how to navigate these tracherous waters.
Buy it !!! Try it !!! Fly with it !!! And you won’t kick yourself for “being in it, to win it”.
Review by Ardeal for Homebuyers Beware: Who’s Ripping You Off Now?–What You Must Know About the New Rules of Mortgage and Credit
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… unless you get ready for kids in college. But even then, who can say they can afford to skip on potential thousands of Dollars because they were not informed regarding their mortgage? This book provides the latest and greatest regarding your loan – including tactics used to get one to pay more. It gives practical examples, analyzes various topics among its 30 chapters, topics such as credit, lower cost loans, fraud and scams, etc. Do the simple math – it may take a few hours to read this book, but if you divide the savings by the few hours, you’ll realize that you may never save that much money in a few hours. Definitely get this book if you plan on buying a home or just refinancing.
Review by Claire Jordan for Homebuyers Beware: Who’s Ripping You Off Now?–What You Must Know About the New Rules of Mortgage and Credit
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I was not a major real estate investor, just an average homeowner, but I had a “friend” who was a mortgage broker for Countrywide. He kept pushing me into (what I know now were) increasingly worse loans. At the top of the market he came to me with an income property that was such a great deal that if I didn’t jump on it he was going to buy it himself (and I believed that? What a sucker!) I didn’t listen to my inner voice which kept telling me that none of this added up. Instead I deferred to him because I thought he was an “expert” who knew so much more than me (turns out he didn’t even have a high school diploma and had only been selling mortgages for 6 months when I met him… before that he sold used cars!) I also thought that he had my best interest at heart, when, in fact, the only thing he cared about was his commissions.
I’m currently in a short-sale on that investment property: it’s in escrow for 1/3(!!) of what I paid for it and we were lucky to get that. My home was foreclosed on a year ago. Thirty years of excellent credit is destroyed. I’m not blaming the mortgage broker, I could have rejected any of his offers. I was just under-educated about how real estate mortgages REALLY work, but not anymore.
As I read this book, it was like reading a postmortem of my financial situation. I cannot tell you how many times while reading it I shouted, “That Bastard! That’s exactly what he did to me!” As I dissected my mistakes and the ways in which I was conned, and learned how to avoid similar traps in the future, I began to feel as though I might actually have some hope of fixing this mess and restoring my good credit and, perhaps, even owning property again someday.
But even if I don’t ever buy another piece of real estate, I’m glad I read this book because now at least I understand what happened to me (and to so many otherwise well-educated, successful people,) and I don’t feel like such a complete failure anymore. In that regard, this book is better (and way cheaper,) than therapy.
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