Mortgage Ripoffs and Money Savers: An Industry Insider Explains How to Save Thousands on Your Mortgage or Re-Fi

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Everyone Should Read This Book Before Buying!!, January 11, 2008
By
Truth Seeker (ontario, ca United States) -This book is great! It covers all the dirty little secrets of loan brokerages that I never would have thought of. I can't even begin to realize how many thousands I've been scammed out of over many years and many mortgages. Terms like "Par Rate" and Yield Spread Premium (YSP), commonly called "back-end commissions" where they can get you for even more money, thereby making their "cut" even bigger! On page 80 it states that 85 to 90 percent of loans have a YSP. You really need to protect yourself and your money by reading this book.
This book saved me money, time, and embarrassment, December 19, 2007
By
Sheila Moore (Belmont, California USA) The first time I bought a condo, I didn't do enough research beforehand and got burned, so this time, I read three books about buying condos and two about getting a mortgage. Of these five books, this one made me feel the most prepared. I quickly found a straightforward broker who didn't hide anything, or look guilty and start tap-dancing when I asked about YSPs. I had never heard of YSPs before reading this book, but after reading it, I knew that the important thing about them is that they be disclosed in the Good Faith Estimate (not at the closing), and that brokers are required by law to disclose them, but bankers and direct lenders are not. BUY NOW!!!!