by Y. Patrick Mazor
HowToHackAnything.com Presents: Your Mortgage - You Can $Ave Thou$and$ By Recognizing It’$ Your Money! is about one thing – your money. Applying for a mortgage is a long, complicated process. The majority of mortgage loan officers do everything possible to make it seem more complicated than it is. Why? To confuse you, to make you feel uneducated, to keep you from finding out how much money you are paying for the mortgage – in the short term, and over the long haul.
Sir Francis Bacon said, “Knowledge is power.” This is as true as true can be when it comes to applying for a mortgage.
You can arm yourself with knowledge. How much will you save? Thousands, tens of thousands. Read this book. Take out your documentation from the last mortgage you obtained. Review the Good Faith Estimate (from the closing not from the application) and the Truth-in-Lending Disclosure. Read them line by line following along with Patrick’s explanations. Then answer two questions, “How much did you pay for your mortgage upfront?” and “How much would you have saved in front-end fees, back-end charges, and interest if you had read this book first.
Did you know that the average mortgage loan officer has incredible power when it comes to deciding what the note rate will be on your mortgage? Did you know that the mortgage loan officer makes more money by “selling you” a higher rate. “Gee, Mr. Borrower I’m sorry – that’s the best rate I can get you today.” Hogwash. It’s the best rate the loan officer can get himself.
The question the majority of loan officers who work for mortgage brokers ask themselves is, “How much will the traffic bear?” In other words, how high of a rate can you live with. Because the higher the rate, the more money the mortgage company and loan officer make.
But what if? What if you took the time to learn the ins and outs of how mortgage companies operate? What if you took the time to find out exactly how the system works and how you could make it work to your advantage?
That’s exactly what HowToHackAnything.com Presents: Your Mortgage - You Can $Ave Thou$And$ By Recognizing It’$ Your Money! is all about.
The author, Patrick Mazor, is a former mortgage loan officer who predicted the subprime crisis two years before it began. Patrick has written articles for homebuyer magazines and is well published on the topic of mortgage lending.
Have you seen the many ads on the internet that say things like, “Dermatologists hate this woman,” or “Language professors hate this man.” Here is one thing that is guaranteed. Loan officers who work for mortgage brokers, and the brokers themselves, hate the author of this book. (Approximately 41,000 words)
Your Mortgage - Kindle Non-Fiction
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Reviewed by Duh
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