There is no doubt that many homeowners who are in foreclosure right now have bad mortgages. They either did not know what they were getting into and believed in what the mortgage companies told them at the time or they knew but things turned south for them. Either way, if they had more knowledge of what mortgages were out there and what they could do to save money early on, perhaps they could have avoided being in foreclosure. When you do not have money, it is hard to trust anyone because if you make a mistake then the money is gone. This book called Mortgage Ripoffs and Money Savers: An Industry Insider Explains How to Save Thousands on Your Mortgage or Re-Finance will help you understand what the problems with most mortgages are so that you can avoid them and you will also find lots of money savers that can help you finance situation.

There are many excellent "how to get a mortgage" books, but this one is vastly different, because it reveals the insider secrets even many mortgage professionals don't know. Warren reveals what really goes on in the home-loan business to get mortgages approved, and dhow borrowers can avoid becoming victims of their lenders. On my scale of one to 10, this superb new book rates an off-the-chart 12. -- Robert J. Bruss, Inman News, July 10, 2007

Product Description

Carolyn Warren better get a bodyguard. Her new tell-all on the mortgage industry exposes so many of the lending industry's favorite frauds, every loan officer from Seattle to Miami is going to be gunning for her! Mortgage Rip-Offs and Money Savers is like a map that guides you around the carefully camouflaged landmines laid by lenders. And it gives you simple, step-by-step directions for saving tens of thousands of dollars. If you're looking for ways to save a king's ransom on your mortgage and monthly payments, you simply must read this book. -- Clayton Makepeace, founder and president, The Profit Center

Topics include:
* Why calling around for the best interest rate is a BAD idea (and what to do instead).
* How to force lenders to disclose their hidden fees.
* The Dirty Dozen: Junk fees You should not pay.
* How to get the lowest possible rate.
* Uncover the best-kept secret of the mortgage industry.
* Avoid the five most common unpleasant closing surprises.
* Turning a denied loan into an approved loan.
* and much more.

If you are considering a reverse mortgage, then you need to find out as much about it as possible before you make the wrong decision. There is a lot to reverse mortgage and it is important that you understand it before you sign any contracts. This is the first book of its kind to illustrate, in picture format, the exciting financial opportunities waiting for eligible seniors. This book, Piggy Bank Your Home: Tap Into the Power of a Reverse Mortgage, has taken the complicated subject of reverse mortgages and has made it easy to understand.

Perfect for professionals to give to their clients. Many professionals from around the country are calling this book "innovative" and "a must read". John E. Lucas, co-author of Reverse Mortgages for Dummies, says, "This book is a great tool. It makes a complex program easy to understand!"

Mortgage Encyclopedia: An Authoritative Guide to Mortgage Programs, Practices, Prices and Pitfalls is an extraordinary piece of work that provides valuable information for mortgage professionals as well as homeowners who are interested in making sure that they know all about what kinds of mortgages are available and what mortgages they are getting into. If you already have a 'bad' mortgage and you are in foreclosure, this book will tell you what other types of mortgages are and what you need to avoid if you were to refinance or modify your loan.

No mortgage professional should be without this book. There is value on every single page. You'll keep turning the pages and you'll be amazed at how much you learn.

A one-stop reference for in-depth explanations of mortgage topics

With the creation of so many new, complex mortgage programs, it's difficult for consumers --not to mention real estate agents, attorneys, closing agents, and mortgage brokers--to keep track of them all. Written by nationally syndicated real estate columnist Jack Guttentag, The Mortgage Encyclopedia helps readers understand the various mortgage terms, features, and options by offering clear, precise explanations. The alphabetical organization of terms makes it easy to quickly find information on any topic, from FHA, Investor, and No-PMI Loans to Origination Fee and Rate Float. Each entry includes not just a description of the term, but also relevant advice for consumers, such as answers to the questions "Is this loan right for me?" and "Can I negotiate this fee?"

• Guides readers through the bewildering array of new mortgage programs
• Features definitions and explanations of common mortgage, escrow, and closing fees and arcane mortgage terminology

From the Back Cover

Your one-stop guide to mortgage topics, from A to Z

There's a bewildering array of new, complex mortgage programs out there--and now there's a definitive, concise resource to help you make sense of them all. Written by nationally syndicated real estate columnist Jack Guttentag, The Mortgage Encyclopedia demystifies all the various mortgage terms, features, and options by offering clear, precise explanations.

From A-Credit to Zero Balance, the alphabetical organization of terms makes it easy for you to quickly find information on any topic. You get not just a complete description, but also in-depth discussion of the issues that may affect you, whether you're a homeowner (or hoping to become one), a real estate agent, a loan provider, or an attorney. There's even a special section with refinance breakeven tables. So the next time you ask yourself such questions as "Is this FHA loan right for me?" or "Can I negotiate this fee?" reach for this indispensable guide and get the fast, accurate information you need!

• Features definitions and explanations of common mortgage-related terms, as well as arcane mortgage terminology
• Provides authoritative advice on issues such as whether to use a mortgage brokers, the benefits of paying points versus a larger down payment, and the hazards of cosigning a loan
• Identifies common mortgage myths and misperceptions--and warns you of the pitfalls to avoid
• Includes helpful tables on affordability, interest cost of fixed-rate versus adjustable rate mortgages, and much more.

The family residence is the backbone of the American economy, the most valuable and enduring asset for those who have achieved a financial foothold. Yet today record numbers of households confront foreclosure. In the next year it is estimated that over two million Americans will lose their homes and almost two billion dollars of wealth will disappear in the process. How did the traditional "American Dream" morph into a nightmare for so many?

Real estate attorney and educator Shari B. Olefson, a recognized expert in the current mortgage crisis and its effects on homeowners, explains how America slipped to the edge of this dangerous stagnation-recession precipice. In plain language that is easily understandable to the average person, she clarifies legal and financial terminology and describes how our country's mortgage system really works. Utilizing real-life lender and borrower interviews, she exposes its intrinsic flaws and often discriminatory practices, from the mortgage application process to the securitization of bundled mortgages by large investment firms. She also provides evidence to show the government's and Wall Street's roles in both causing and solving the problem.

Above all, Olefson offers expert tips, tools, and resources to help you:

• Choose a mortgage professional and understand what's motivating him or her

• Decide what mortgage product fits best and when to refinance

• Get the best fees, interest rate, and service

• Create your own solutions for navigating the credit crunch

• Know what to do when you can't afford your mortgage

• Protect your home if you are at risk of foreclosure

• Understand how to proceed if you are already in foreclosure

• Capitalize on emerging opportunities and avoid the scams and mortgage fraud

• Prepare for coming changes

Foreclosure Nation demystifies the real estate bubble and the subprime mortgage crises that followed. With bold, clear visuals like inventory, absorption, and price trend graphs, Olefson pinpoints exactly when and why experts are predicting a recovery. She also cites statistics that strongly suggest the number of foreclosures will surge in the fall of 2008 and again in 2009, with increased reverberations felt throughout the US and global economies. Foreclosure Nation will prove indispensable to explaining what is happening and guiding readers through.

Whether you are planning on buying your first home, struggling to meet your current mortgage payments, facing foreclosure, or wondering how your investments will be affected, this comprehensive book will assuage the fear of the unknown, empowering you to make wise choices and protect your most valuable assets.

About the Author
Shari B. Olefson, JD, LLM (Fort Lauderdale, FL), is a partner and the head of her office's real estate department at a national law firm.

From the Back Cover

Live on your equity—without selling or refinancing your home!

Many seniors have trouble making ends meet after retirement. Often their homes are their most valuable assets, but they can't access the equity they've accrued unless they sell. If you find yourself in this position, you might face the dilemma of having to sell your home. Thankfully, the reverse mortgage offers seniors the option of remaining in their homes with no mortgage payments.

Reverse mortgages permit seniors to convert part of their home equity into tax-free income—even if they're still paying on the mortgage. Designed specifically for seniors, these specialized loans let you tap into your equity and use the money for any purpose. Safe and legal, these loans can never cost more than the value of the home, and the loan doesn't have to be repaid until you, or an heir, sell the home.

This straightforward, simple guide helps seniors and their loved ones understand every aspect of the reverse mortgage, including:

• Tax ramifications of reverse mortgages
• Fees and costs associated with reverse mortgages
• Great things you can do with your reverse mortgage payout
• Calculating a reverse mortgage based on the owner's age, and the home's location and value
• How to structure your payout as a lump sum, monthly payments, or credit
• How much you can borrow and at what rate

"As our population ages, it is critical that senior citizens are made aware of the various options available to them that will enable them to lead more fulfilling, comfortable lives. In this book, Tom Kelly clearly and concisely explains the inner workings of reverse mortgages—a viable financial option for senior homeowners."
—Sarah Hulbert, National Director, Reverse Mortgage of America

"Tom Kelly breaks down a misunderstood, complex topic into a very readable, valuable work for seniors and adult children. This book not only provides one of the key tools to aging in place, but it also clearly and accurately explains the next big financial vehicle in the United States."
—Dr. Richard Garrigan, author and Emeritus Professor of Finance, DePaul University

We have been discussing a lot about reverse mortgages in our recent posts. There are many problems with reverse mortgages but that does not mean they are not good. For some people, they are the best solutions for their situations. We have here another great guide to reverse mortgages called The Pocket Idiot's Guide to Reverse Mortgages. Find out:

• What are they?
• How do they work?
• What do they do?

There are more than 100,000 active reverse mortgages in the U.S. today, and the number is growing. If Social Security benefits are excluded, about half of all senior citizens would fall below the poverty line based on their income, and for many people over 65, much of their wealth is concentrated in their home equity. As health care costs rise, many people are turning to reverse mortgages for supplemental income. This book outlines, informs, counsels, and lays out the facts on reverse mortgages.

-Anticipation of Social Security problems is increasing the popularity of reverse mortgages

-More people are expected to turn to reverse mortgages to supplement their income

-The Consumers Union of U.S. Inc. says that AARP, HUD, Fannie Mae, and the reverse mortgage industry all agree on the importance of high-quality reverse mortgage counseling and information

About the Author

Jennifer Pokorny is a branch manager with Carteret Mortgage, specializing in reverse mortgages. She has 25 years experience in all facets of the industry, working with property management before becoming project engineer for a commercial construction company. She has also worked as a freelance writer and editor for 10 years.

We have discussed the subject of reverse mortgages quite a bit recently. Until recently, there were only two main ways you could get cash from your home:

• sell it or
• borrow against it and make monthly loan repayments.

Reverse mortgages offer a third way of getting money from your home which is why we would like to discuss it further so that everyone will understand how reverse mortgages work and how it can be used. If you are a homeowner, age 62 and older, you are eligible to apply for a reverse mortgage loan that converts your home equity into a tax-free income. With The Complete Guide to Reverse Mortgages: Turn Your Home Equity into Instant Income!, you'll learn all you need to know to earn the supplemental income you need, without worrying about:

• Having to sell your home
• Give up your title
• Or take on a new monthly mortgage payment.

This invaluable guide explains everything you need to know about reverse mortgages and how to use them to your advantage. With practicing attorneys Tyler Kraemer and Tammy Kraemer leading the way, you will learn the step-by-step process to getting a reverse mortgage and making the best of your retirement!

About the Author
Tammy Kraemer has been an attorney practicing business, real estate, and intellectual property law for almost ten years. She is currently in private practice. She worked in general counsel for a mid-size software company with worldwide offices. She also worked at a large regional law firm in their corporate law and securities department. She has written and edited numerous articles for newsletters and law journals. She lives in Colorado with her husband Tyler and their two children.

Tyler Kraemer has been an attorney in private practice focusing on estate planning, real estate, finance, and business law for almost ten years. His clients include lenders, borrowers, mortgage brokers, real estate brokers, real estate buyers and sellers, and business owners. Tyler has been a part of outside general counsel for the REALTOR® trade association and the for-profit multiple listing service, which included giving daily advice on homeowner issues. He has participated in National Association of REALTOR conferences and workshops dealing with all facets of homeowner issues. He lives in Colorado with his wife Tammy and their two children.

The Reverse Mortgage Advantage: The Tax-Free, House Rich Way to Retire Wealthy!

“Virtually all the key aspects of senior-citizen reverse mortgages are thoroughly explained in this detailed but easy-to-read book that emphasizes the potential pitfalls as well as the major benefits. The author shatters the reverse-mortgage myths, such as 'the bank owns the house,' the supposed high costs, and even the scary stories of early reverse mortgages, which are no longer possible.”

Description

Financial Freedom You Can Only Get When You Hit 62!

Whether you're exploring a reverse mortgage to finance a home improvement, pay off a current mortgage, pay for health care expenses, or generate monthly income to improve quality of living, you're one of the thousands of Americans age 62 and older who are turning to this lucrative way to build income.

Simply put, with reverse mortgages you no longer pay the bank, the bank pays you. In The Reverse Mortgage Advantage, renowned real estate expert Warren Boroson presents a thorough examination of the ins and outs of this intriguing investment method. Boroson dispels any myths and puts crystal-clear focus on the pros and cons of reverse mortgages.

With real-life case studies and practical examples, The Reverse Mortgage Advantage shows you how to:

• Transform a “house-rich, cash-poor” situation into tax-free equity
• Choose between a lump sum, a line of credit, a monthly income, or a combination
• Find a reputable HUD-approved reverse mortgage counselor in your area
• Minimize setup fees and related charges

We briefly talked about reverse mortgage and its benefit in our other posts but some people are still confused about what a reverse mortgage is so I am going to introduce this book called Reverse Mortgages For Dummies that explains a lot of things about reverse mortgages in the simplest terms possible. Bear in mind that there are advantages as well as disadvantages of reverse mortgage so you really need to find out more information on reverse mortgage before you decide to do it for yourself or your family.

For seniors who live on a fixed income, owning a home—and keeping it—can be financially challenging. Rather than face the choice of selling your home and moving or becoming a home-owning pauper, reverse mortgage products let seniors convert part of their equity into tax-free income that can be used for anything—even mortgage payments, living expenses, or medical costs.

Reverse Mortgages For Dummies covers all the basics of reverse mortgage products so you and your adult children can understand and take full advantage of these handy loans—and keep the home you love. Covering a full range of reverse mortgage options and topics, you’ll discover how to:

• Decide if a reverse mortgage is right for you
• Shop for the best reverse mortgage products
• Find out if your home is eligible
• Find a counselor who can help you

Written by Sarah Lyons, an Assistant Editor at Mortgage Originator magazine, and John Lucas, an experienced reverse mortgage specialist, Reverse Mortgages For Dummies explains these helpful loan products in simple, easy-to-understand language free of all the jargon. Once you understand how reverse mortgages differ from other loans—and what you could do with your reverse mortgage—the book covers the specifics you need to find the right loan for you, including:

• Special advice for adult children helping their senior parents secure a loan
• How to get a reverse mortgage and keep your second home legally
• Property requirements and financing fees
• Selecting among a multitude of lenders
• Spending and estimating leftover equity
• Sharing the decision-making process with family and loved ones

If you’re a senior wondering whether a reverse mortgage can help you keep your home, this book gives you the information you need to make smart, informed decisions that are vital to you, and your family’s, security. Reverse Mortgages For Dummies will help you keep your home and live the life you want.
From the Back Cover

Fully explains how reverse mortgages work

With special advice for the adult children of seniors

Reverse mortgages are a great way for you to keep your home, even on a retiree's fixed income. But with so many loan options, where do you start? Relax! This friendly guide covers all the basics so you and your adult children can understand and take advantage of these handy loans — and keep the home you love.

Discover how to

• Decide if a reverse mortgage is right for you
• Shop for the best reverse mortgage products
• Find out if your home is eligible
• Walk through each step of the process with confidence
• Find a counselor who can help you

Recent estimates have shown that there are more than 100,000 active reverse mortgages in the United States, and that number is on the rise. However, many people simply do not understand what a reverse mortgage is or how it works. This book called Reverse Mortgage Book: Everything You Need to Know Explained Simply will explain to you everything you need to know before you get a reverse mortgage. This is a very comprehensive book that will provide you with more information than you need. There are a lot of valuable resources in the book.

Why is reverse mortgage so attractive?

Reverse mortgages allow people over the age of 62 to release the equity in their property and defer payments until the homeowner dies.

As these mortgages become more and more popular, it is becoming increasingly important for senior citizens to understand the process and the features of this unique loan.

The Reverse Mortgage Book does just that, explaining everything you need to know in easy to understand terms. In this new book, you will learn about the details of:

• new legislation,
• payment plan options,
• tools that will help you calculate loan advances,
• financing fees,
• what to do with leftover equity,
• borrower qualifications,
• common mistakes people make,
• resources for securing reverse mortgages, and
• planning strategies.

You will also learn about the types of reverse mortgages, including:

• the Home Equity Conversion Mortgage,
• the Financial Freedom Cash Account, and
• the CHIP Reverse Mortgage for Seniors, and

the different ways to receive payments, such as tenure, term, line of credit, modified tenure, and modified terms.

In addition, you will learn about the steps involved in a reverse mortgage, from the application to processing, from underwriting to closing.

This book also goes into detail about:

• how to convert equity into tax-free income,
• how to determine how much money you can get,
• how to determine if your home qualifies,
• how to shop for the best products,
• how to find a counselor,
• how reverse mortgages differ from other loans, and
• how to minimize setup fees.

This book will provide you with the answers to commonly asked questions, such as:

• Is it possible for me to lose my home?
• What effect does my age have?
• What effect will my needs for long-term care have?

By reading this book, you will completely understand everything there is to know about reverse mortgages, enabling you to make wise decisions and maintain your financial independence.

Most people are scared and they panic when they are late on their mortgage payments or they cannot afford to pay them. They know that soon the bank will foreclosure and they will have no home. People are afraid of being homeless. The first thing to remember when you are facing foreclosure or when you think that you may be facing foreclosure soon is to not panic. You need to think clearly and objectively. There are many ways to get out of foreclosure. If you have not received the notice of default or notice of foreclosure, you can prevent foreclosure from happening to you. This book called Foreclosure Self-Defense For Dummies will teach you what you need to do. Alternatively, you can get a free consultation to learn more about your options here.

Facing foreclosure? You need to do three things:

• stop worrying about why this has happened to you;
• resolve to fight the foreclosure and save your home; and
• read Foreclosure Self-Defense For Dummies.

It delivers the knowledge, strategies, and tactics you’ll need to take command of your situation and achieve the best possible outcome.This practical, no-nonsense guide helps you size up your options and increase your chances of saving your home. You’ll find out how to:

• delay foreclosure,
• form a plan of attack,
• negotiate solutions with your lender, and
• restore your financial health.

You’ll also find field-tested strategies for dodging the foreclosure trap, getting out from under a house you really can’t afford, and finding help where you might least expect it. Discover how to:

• Regain your emotional composure
• Confront your foreclosure head-on
• Protect your rights
• Assess your situation and weigh your options
• Touch base with key people who can help you
• Stop the financial bleeding
• Team up with your lender to find solutions
• Work out a refinancing deal with another lender
• Avoid quick-fix schemes and scams
• Cash out before it’s too late
• Recover from foreclosure
• Re-establish your credit

Complete with a handy cheat-sheet to help you keep your most important tasks in the front of your mind Foreclosure Self-Defense for Dummies gives you the moral support, commonsense guidance, and expert advice you need to make the best of this difficult situation.

From the Back Cover

Save your home, protect your family, re-establish your credit!

Defend your home from foreclosure — or get out from under it

Are you facing foreclosure? This no-nonsense guide helps you size up all your options and increase your chances of saving your home. You'll see how to delay foreclosure, form a plan of attack, negotiate solutions with your lender, and restore your financial health. Discover field-tested strategies for dodging the foreclosure trap or getting out from under a house you really can't afford.

Discover how to:

• Protect your rights
• Weigh your options
• Team up with your lender
• Avoid mortgage scams and pitfalls
• Recover from foreclosure

If you are facing foreclosure or you know what you will face foreclosure in the near future, you need to fight back. Foreclosure is a big problem nowadays with many people losing their jobs and finding it hard to make mortgage payments. Even though the government has come up with several plans to help the mortgage and housing industry, a lot of homeowners are not finding the help they deserve and need. They cannot wait for help to come, they need to know what they can do - right now! This book called Fight Foreclosure!: How to Cope with a Mortgage You Can't Pay, Negotiate with Your Bank, and Save Your Home will help homeowners prevent foreclosure, save their homes and save their credit too.

Fight Foreclosure! offers a practical, step-by-step system for taking action to prevent foreclosure on your home before it's too late.

If you're having trouble keeping up with your payments, the worst thing you can do is nothing. This book explores:

• all your options,
• weighs the pros and cons of each, and
• explains the pre-foreclosure process in detail.

Plus, it points out the too-good-to-be-true credit repair offers you should avoid and gives you real, practical alternatives that help you help yourself before it's too late.
From the Back Cover

FIGHT BACK!

With a Take-Charge Strategy for At-Risk Homeowners

Millions of homeowners are at risk of losing their homes. Are you one of them? If so, you need this practical, step-by-step guide to help you take action before it's too late.

In Fight Foreclosure!, David Petrovich offers honest advice on all of your options, weighs the pros and cons of each, and shares smart, practical strategies for lowering your payments and keeping your home. He points out the too-good-to-be-true foreclosure rescue offers you should avoid, and offers real alternatives that work—now!

Petrovich is a mortgage banking insider who understands the loan servicing industry inside and out. And he understands the pressure you're under. Don't worry! You're not alone. Inside, you'll find the calm, professional advice you need to manage your financial crisis, including topics such as:

• The foreclosure time-clock—why acting early is critical
• Handling collection calls
• Cutting expenses and rebuilding your budget
• Negotiating with your lender
• Utilizing all your legal defenses
• Using bankruptcy to save your home
• Selling your home to avoid foreclosure while saving your credit
• Finding legitimate help and avoiding rescue scams