-From Review by
Robert Bruss - Chicago Tribune Syndicate
Whether you need a mortgage to buy a home or are refinancing your
current home loan, this new book provides insight on some of the
mortgage industry's dirty little secrets.
Authors Clyde and Shari Steiner, who have written this book for
the borrower's (not lender's) benefit, explain key mortgage terms
and procedures in everyday English.
For instance, the authors explain computerized loan origination,
the mysterious FICO borrower rating system, and why even the biggest
mortgage lenders sometimes can't deliver loan terms they
The best part of the book is the practical advice, written by
authors who have obtained 12 home mortgages. For example, the
Steiners recommend applying with two lenders at the same time if
closing the loan on schedule is critical.
The message "don't trust lenders" to deliver on their
promises comes through loud and clear. Another bit of practical
advice is to treat the loan advisor as someone working primarily for
the lender, no matter how nice that person might seem.
The book's highlight is the section on individual nationwide
mortgage source sites and 800 numbers. It lists virtually all major
Internet sites for home mortgage information and making online loan
applications to earn discounts. The Steiners rate each mortgage Web
The appendix contains the National Money$ource Director, Loan
Evaluation Checklists, Loan Amount Charts, Loan to Value Worksheets,
Refinance Evaluator and Where To Get Credit Reports.
Much of the insider information is available nowhere else. On
my scale of 1 to 10, this book rates a ten.
--From Review by Robert Bruss - Chicago Tribune Syndicate