Mortgages for Dummies, Third Edition

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Synopsis This guide is now updated! This is the proven guide to negotiating the best mortgage terms - and surviving today's lending crisis. In today's hostile real estate market, homebuyers and owners are daunted by the prospect of securing a mortgage. In "Mortgages For Dummies, Third Edition", bestselling personal finance authors Eric Tyson and Ray Brown give borrowers timely solutions, whether they need a loan to buy their first home, want to refinance their existing mortgage in the face of escalating payments, or tap into the equity they've built up. This revised edition features up-to-the-minute information on subprime and adjustable-rate mortgages, as well as updated worksheets and tools for calculating the costs and payments associated with a mortgage.Tyson and Brown decipher the jargon and point out all the fiscal pitfalls that borrowers need to know, showing them how to determine their borrowing power, select the right loan, find the best lender and options, and fill out all the paperwork correctly. This no-nonsense, comprehensive resource is a must for every homeowner or homeowner-to-be. From the Back Cover The proven guide to getting the best mortgage and surviving today′s lending crisis Need a mortgage, but worried about the hostile market? Bestselling authors Eric Tyson and Ray Brown give you proven solutions for obtaining a mortgage, whether you want to buy your first home, refinance, or tap into your equity. You get the latest on subprime and adjustable–rate mortgages, finding the best lender, avoiding fiscal pitfalls and foreclosure, and much, much more! Why this book is different two real estate experts give you objective, jargon–free advice that takes into account your financial goals Fine–tune your finances evaluate your expenses, calculate what you can afford, and improve your credit score Find the right loan for you from fixed– and adjustable–rate to 15– to 30–year to conforming and jumbo, weigh all your options Choose the best lender/broker interview and work with the cream of the crop, compare programs, and negotiate loan terms Consider special situation loans from home equity to co–op to balloon loans, understand the tax consequences and legalities Handle refinancing and reverse mortgages decide if you should explore these options, crunch the numbers, and save money Get helpful resources recommended mortgage Web sites, loan amortization tables and comparison worksheets, and more Open the book and find: How to qualify for a mortgage Ways to lower your interest rate Updated worksheets and tools for calculating mortgage costs and payments New information on foreclosures Tips for saving tax dollars Interview questions to ask lenders/brokers Expert guidance in completing all paperwork The dos and don′ts of using the Internet See all Product description