The 106 Mortgage Secrets All Homebuyers Must Learn--But Lenders Don't Tell

by Gary W. Eldred

Book Overview

One of America's top real estate authorities explains the inside secrets of the mortgage business Each year, more than ten million American homebuyers, homeowners, and realty investors enter the mortgage arena to finance or refinance their homes and rental properties. And each year, millions of borrowers pay more than they have to. But you won't be one of them with Gary Eldred's 106 Mortgage Secrets All Homebuyers Must Learn-But Lenders Don't Tell...

• Format: Paperback
• Language: English
• ISBN: 0471263958
• ISBN13: 9780471263951
• Release Date: March 2003
• Publisher: John Wiley & Sons
• Length: 271 Pages
• Weight: 0.82 lbs.
• Dimensions: 0.8" x 6.0" x 9.0"

Customer Reviews

Wealth of knowledge for the amateur

I am new to real estate investing and I have minor experience as a loan officer. This book provides in depth detail and easy to understand knowledge on the most effective ways to obtain the correct mortgage financing for an individual based on their situation or need. The books also gives you a great amount of resources to obtain more help and knowledge on the subject of mortgages. I would highly recommend this book, and I might also add it is very easy to read and comprehend the concepts discussed in the book.

Thorough and objective guide

I just closed a loan on my first home and I found this book to be a helpful guide. It's not as sensationalistic as the title might imply, but it prepared me to know what questions to ask and how to get my credit,income, and bills in shape before I put in my loan application. Although I took out a new loan, this book goes into assumptions, seller financing, and other financing choices that I didn't know much about. I think a lot of people looking to buy might find these alternatives worthwhile. Overall, a profitable read. P.S. This book is not an "infomercial" or "get rich quick" hype. It also strongly warns against misleading a lender--none of the advice is "fraudulent." I find it interesting to read other reviews and sometimes wonder if they actually read the book they are reviewing. Not just here, but with many other popular authors. Oh well, such is life.

Outstanding guide to financing

I previously read Eldred's book,Investing In Real Estate.It's the best,comprehensive, and most sensible guide to investing that you'll find (read the reviews for youself). Likewise, this book on financing goes way beyond the other authors that I have read. (Sidenote: I cannot figure out what the Seattle reviewer is talking about, Mortgage Secrets deals exclusively with the ins and outs of financing techniques, saving money, cutting mortgage costs,and building equity faster. This book says nothing about using high leverage to get rich in real estate. As to infomercial hype, Eldred actually lambasts these gurus and warns how their "techniques" can lead the gullible to financial ruin. He even cautions strongly against home equity loans.) If you want to learn your financing options as well as the "tricks of the trade", you won't find a better book than this one. Although I'm in the business, I liked this book because a much more educated borrower gives us true professionals a stong advantage over our competition. Read Mortgage Secrets, then work with a broker who follows the insights that Eldred reveals. I'll make more money and you will get a better deal.

Right on, Mr. Bruss

In his L.A. Times review of this book, Robert Bruss advised, "Whether you are buying or refinancing, first read Gary W. Eldred's new book." Mr. Bruss is absolutely right. This book gave me (a real novice) more knowledge than nearly all of the realtors and mortgage people I talked with. What I liked best,though, was how Mortgage Secrets showed how to choose the the right financing to make home equity grow the fastest. If you want to understand the fine print "gottcha's", or make sure your not overpaying, this book really pays off.

Great eye opener for mortgage hunters!

Unlike so many hyped-up real estate books, this one delivers. Not every "secret" is really a secret, but I think you'll find a wealth of info not covered by any of the other mortgage books that my wife and I have read. We feel we really took a leap forward in the mortgage game.