This is a great, highly readable and very informative book for anyone looking to buy or refinance a house. The take home message is that your mortgage broker is in the same category as your car salesman, except that your home will cost at least 10 times what your car will cost. You can't afford to go into the process ignorant or you are a sitting duck.

My only caveat is that there are a few missing pieces about how to translate the YSP percentage into the mortgage rate effect - how much, exactly, does a 1% YSP increase your mortgage rate? A little more explanation would clear that up.

In addition, this book badly needs a second edition. It was obviously written either before or just at the start of the recent mortage/foreclosure debacle. She never talks about the effects of the current tight credit market on a consumer's ability to borrow and what fees might be charged and how much you can actually negotiate today. Her FICO scoring categories, for example, are very out of date. Also, I know that there has been some crackdown on the mortgage industry, and some of the practices she mentions may have been actually made illegal, or at least come under more scutiny, but I'm not sure which ones. An update here would help.
Overall, this is a great book. You will get your money's worth and much, much more.

Michelle Singletary recommended this book in the Washington Post. It's clearly written, full of very useful information, and fun to read. I only wish I'd had it before I signed the loan contract. But, no worries, an email to the author, a quick reply, and I received more valuable advice. Don't get a home loan without reading this book first.

This is a great book for anyone thinking of taking out a loan for a home or home equity. This book can literally save you thousands of dollars and give you a good working knowledge of the mortgage industry and all the scams they run to drive up their profit at your expense.

Unless you work in the mortgage industry yourself this book is a must read before picking up that phone and calling a loan officer. Even if you have had gotten loans in the past, this book will be the best guide through the, at time seems mysterious/dark, mortgage alley. It is everything you will need to know to ensure and feel confidence that you have gotten a good loan. And that's big for me, to know and be able to sleep at night on a relatively big financial decision. ALL your questions will be answered in this one book. It is all collected and packaged for you. Why spend hours to search online, browse numerous websites and collect this valuable knowledge? It is all right here! It was an easy read too! I personally read it like a novel, the next page seems to answer exactly what I was about to ask. Please read, learn and be a savvy loan consumer for you own sake. It will save you and your loan officer a lot of time, grief and MONEY when you guys are speaking the same lingo.

As a retired attorney, I have read my share of how-to books in various areas of expertise. Many have disappointed for lack of follow through and updating techniques such as online access to the author, with up-to-the-minute links to web pages addressing new areas of concern. Carolyn Warren's incredibly thorough, professional and brilliant comprehensible book lacks nothing in this regard. In fact, I would place this book among the various genres as the #1 book I have read in the last year that has made it possible for me to actually understand what was once an almost impossible mess of information for the layman. Having no background whatsoever in banking, financial management, debt, mortgages, credit, equity loans etc., this was a perfect book for me to rely upon for clear and concise knowledge. Oh, and after reading this book along with accessing her free info online, you will be delighted to know that Carolyn Warren does not just leave the reader there. She actually answers your emails! Yes, an author who cares about you -- long after you have purchased and read her book! You just gotta get this one - she is a star who knows what you need to survive like no one else out there.

I poured through at least 15 books on mortgages. This book is the only, I repeat, only good book out there. While other books may have had two or three "pointers", every page of Ms. Warren's book is worthwhile. Do not go for a loan without this book. Invaluable!

We have bought and sold investment properties for over 10 years in Pennsylvania. We are now investing in million dollar properties in Florida. I was in a book store and saw this book, and thank god I bought it! I read it, and out of curiosity I dug out a few of my old closing statements and good faith estimates, and was shocked at how ripped off I was by loan officers that I thought I could trust. This book was very informative, and that's an understatement. I thought I knew about the lending industry, but I was definitely mistaken. Now armed with so much knowledge, I can't wait to put another loan officer to the test.

I'm about to buy my first house, and I'm so happy I read this book first! I had no idea all these junk fees existed. And YSP? I definately would have been one of the 'stupid' people who blindly trusted my broker and assumed these fees were all standard. I also like how the author goes over each loan type and what type is best for each person. I do wish the author would have included more on how to negotiate, but there's so much useful information, I would still recommend this book to anyone and everyone.

this is a fantastic book!. im 28, and am looking to purchase my first home. this book allowed me to move on confidently through the toughest and most intimidating part of the home buying process: avoiding mortgage rip offs! i admit, i knew a few things on what markets are good for home purchases, but was clueless on how to finance the purchase.

if you are a skeptic of this shady, 'loan shark' infested business, pick up the book and get educated! Carolyn shares many personal and professional tips as well as a bunch or real-life stories. you will easily save hundreds and possibly thousands!

I have been buying, selling and re-financing real estste, in Southern California, for the past 30+ years. After reading "Mortgage Rip-Offs and Money Savers" by Carolyn Warren, I cringe at how I had been taken advantage of, over the years. I can never re-gain the money I lost in fees, overcharges etc. but with the information I learned from this book, it sure won't happen again. This should be required reading for every person buying a home or re-financing. It is easy to read, understand and apply. Unlike other books, on this subject, it doesn't give you just enough information to be dangerous. It is so practical that anyone can use it to defend themselves against mortgage brokers, banks and direct lenders that would take advantage of you just to line their pockets. Before you do anything related to a mortgage or re-finance,READ THIS BOOK!

Very responsive to my questions. I won't LEND this book to anyone----In fact I guard it with my life!

WOW! Carloyn rocks! I emailed her a quick question on the Home Mortgage Accelerator program and she emailed me right back with a ton of info and items that had not even crossed my mind. Why do Home Mortgage Accelerator's only work on referrals anyway....it's a tiered system of sales! Who knew!?!
She is writing an article on it currently and the issues surrounding the LOC. I recommend going to her website for her well-researched article and advice. She helps all of us by being so honest and forthright. Thank you Carolyn!

I have as much, if not more, experience in residential retail and wholesale mortgage lending as the author. There are more than enough (justified) positive reviews praising the information and advice presented in this book. However, most of these are homeowners not educated or experienced in mortgage lending and therefore do not have the full picture. In the interest of balance in these reviews, homeowners and potential homeowners reading this book should consider the following:

1. Be careful how much weight you give to the Good Faith Estimate and making a loan decision based on the "best" GFE that has been provided to you by mulitple lenders. A GFE is simply that - an estimate (aka "guess") of what your final settlement charges may be. It is by no means a written offer of credit or guarantee of those fees. While the lender is required to provide a second GFE if the loan terms change significantly, they are not bound to honor any of the terms quoted to you in your initial Good Faith Estimate. The reason for this is because the nature of mortgage lending means that it is impossible to guarantee or quote with 100% accuracy the exact rate and fees of any mortgage loan (even "locked" loans) until that loan has been completely processed, underwritten, and approved. The beginning stages of any loan process and the initial information you are provided about any mortgage loan is always going to be based off HUGE assumptions that may or may not be correct. This is especially true in today's marketplace. These days, its nearly impossible to predict what a particular home is going to appraise for (the most important aspect of any loan proposal) and loan products, guidelines, and interest rates are changing daily - sometimes hourly. The extreme instability in housing and mortgage markets right now makes it almost impossible for even well-intentioned and honest lenders and brokers to quote with any amount of certainity what your final loan terms and settlement charges are likely to be 30 days from now.

2. Be careful entering a race to the bottom regarding loan fees. The loan with the fewest fees or the lowest fees is not automatically the best. The term "junk fees" is subjective. Every single fee charged in any mortgage transaction could be classified as "junk" in one way or another. When you're the one paying them, all the fees seem like junk fees. What's important is to take the total cost of the loan (all fees combined) and compare it to the total benefit (all benefits combined) and, like anything, determine if the cost outweighs the benefit. Very rarely will 3 different Loan Officers working at 3 different companies structure the same indentical loan proposal for you. The cost vs. benefit of each should be judged on its individual merits.

3. Be extremely cautious with "Credit Repair" companies and people claiming they can fix your credit (i.e. remove collections, bankruptcies, judgements, etc.). In almost all cases, "credit repair" involves disputing legitmate debts and other information contained within your credit report. People who practice credit repair rely on a consumer protection law that forces creditors to prove the legitmacy of a negative item on your credit report within a certain timeframe or they are forced to remove it. All credit repair involves the practice of disputing every single negative item on your credit report and counting on the fact that the creditor will not produce the proof of the debt or negative pay history of the debt within the specificed timeframe and therefore be forced to remove it. The vast majority of negative items reporting on anyone's credit report are going to be legitmate debts. Therefore, the practice of credit repair involves disputing (claiming the debt isn't yours, or that you were never late on it, etc.) debts that are perfectly legimate and correct. This is called fraud and its illegal. Disputing a debt you know to be valid, or allowing someone to dispute it on your behalf is not only illegal, its unethical and dishonest.

I purchased four other books on mortgages and refinancing and none of them were as helpful, relevant or insightful as "Mortgage Ripoffs." What distinguishes this book is that Ms. Warren zones in on the areas where consumers get ripped off the most. The advice is concrete and practical - for example, she will show you various marked-up mortgage documents and highlight areas where the mortgage professionals who prepared them are being dishonest or deceitful.

Ms. Warren also gives many real-life examples from her experiences in the industry. Some of them are infuriating, some of them will make you gasp, and some are actually pretty funny. I liked this background information because it gave me a snapshot into the mortgage industry, but also provided "context" to my current situation. I instantly recognized some of the shady types I have dealt with in the past.

Although Ms. Warren places a fair share of the blame on the industry's deceit and avarice, she also advises consumers to take responsibility for their finances and protect their home and equity. Willful ignorance is not an excuse.

Carolyn Warren's Mortgage Rip-Offs and Money Savers reveals the mortgage industry, warts and all, in a clear format and easily understood language. This book can easily be read in a day or two, and considering the wealth of knowledge one will obtain (and the financial wealth they could save), to not research and understand the loan process is inexcusable, and this work will painlessly do the trick. I am not a numbers individual, but after reading this book I was easily able to identify over $700 in junk fees and see that the broker illegally failed to reveal the YSP on my GFE. (If you do not understand fully what I just wrote, read this book, because your ignorance will cost you as it could have cost me.) Mrs. Warren outlines what to look for and beware of when choosing a loan and gives the reader a window of insight into the mortgage business, including both the villains and heroes, and how to distinguish between them. It also helps that she is easily available on the web (www.AskCarolynWarren.com) should issues that are addressed or not addressed in the book arise and you need further help. Except for a number of spelling typos (which, if you're like me, can be the equivalent of nails on a chalkboard), this book is a solid and informative work whose information should be shared vigorously.

As a novice looking for good advice and an inside view of mortgage buying I was delighted with Carolyn Warren's book. Knowledge is power, and this book delivers it. Her book is a good complement to "Mortgages for Dummies", which starts from the real basics. "Mortgage rip-offs and money-savers" assumes you already have a basic grasp of mortgage types, and really gives an insight into the world of mortgage selling and buying, empowering us consumers to get the best deal.

Carolyn Warren is an angel to me. Now that I have read her book, I will be armed with tons of ammunition when I negotiate a fair deal on a mortgage. Carolyn is the only consumer advocate I have run across in my search for information on mortgages and her book is worth its weight in gold. She covers every aspect of mortgage-hunting, from finding an honest loan officer through describing and negotiating every single imaginable fee. She also describes many situations that can happen to even the smartest and most informed individual by accident or "accidentally on purpose". Paying a large sum of money over a long period of time is serious business and with the help of Carolyn Warren's expertise, consumers can be prepared for the many bumps in the road they could encounter and can save themselves a lot of money.

As a Realtor I'd always default to the expertise of mortgage professionals when my clients asked for advice. Now I give them a free copy of this book.

This was a very interesting and fascinating enough read that even if you're not about to get a loan, it's worth reading. You'll then want to reference it again when you are getting a loan. I just did that with a recent personal purchase of an investment property, and I was able save a couple of hundred dollars by asking for the removal of a few junk fees. It also gave me the comfort and confidence that the loan I received was a good one.

The how-to's include how to interview mortgage brokers and direct lenders, how to read good faith estimate statements, which fees are real, and which are "junk", how to compare rates, etc. I haven't read other similar books so I can't compare, but I also feel no need to look further... this book covered everything I needed to evaluate my loan, fees and lender candidates.

This book is an easy and quick read, and brutally honest explanation of the ways mortgage brokers make money from what is likely the biggest investment of your life. After reading it I bought five more for friends and collegues, one of whom was going though the mortgage process at the very same week. He said it saved him nearly $10,000 per year over if he had not read it.
In addition, the author offers an answer to one free emailed question. She spent alot of time and was able to solve a big problem for me.
I have never written a review before, but this book is an extremely important contribution to personal finance and I wanted to put in the word for it.

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.

Carolyn Warren's guts will impress you as much as her smarts. Exposing the sleights of hand and outright cons that contributed to the collapse of the sub-prime mortgage market, this easy-to-read tell-all must have had the crooks in the mortgage business pulling out their hair. And the honest brokers and lenders cheering. The good news is that there are honest professionals in the mortgage industry, says Warren, a savvy veteran whose own example proves her claim. Indeed, a borrower's best protection is an honest loan officer or mortgage broker who will guide you through the potentially hazardous lending process safely and economically. The other piece of good news is that, whether or not you find that trustworthy lender (and Warren has a web site to help you locate the mortgage "stars" in your area), this book also exposes the tricks of misdirection and mystification that unscrupulous lenders use to get your signature on those stacks of documents that guarantee fat paydays for them and thousands in needless expenses (and potential financial ruin) for the rest of us.

In addition to the stories of scandal, the book also teaches the nuts and bolts of the mortgage process: what is a GFE and a YSP; what are points and what will they cost you; what are ARMS and Balloons: the mortgage industry has a language all its own, and learning to talk the talk will help you keep your lender in line. You'll also learn what to look for in the fine print before signing your life away and how to make yourself the strongest candidate for the best deals in the market, whether you're a first-time home buyer, a real estate investor, or a mortgagee looking to refinance. The author also has a Web site where she answers readers' questions personally. I had a question about my debt-to-income ratio (a thing I'd never heard of before reading this book), and Carolyn Warren emailed me an answer within hours--on a weekend, at night.

I'd like to say that a book like this can put an end to the exploitation of borrowers and the tragedy of families losing their homes. Sadly, however, too few consumers ever bother to educate themselves before making the biggest financial decisions of their lives. Don't be one of them: read the book.

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.

As a first-time home buyer, I found this book to be an invaluable resource. I was easily able to find the information that was relevant to my specific needs, and the descriptions made even the most complicated parts of the process easier to understand. What's more, Carolyn Warren has an excellent web site for additional support and she provided incredibly prompt responses to my questions. Both her book and web site are definitely worth using before making what will likely be the most expensive decision of your life.

I'm in the proces of buying my first home, this book had a lot of very useful information and will pay for itself many times over. Easy and quick reading too!

I am a mortgage broker and I highly recommend this book. I can state emphatically that Carolyn's stories about mortgage brokers bragging about how much money they make are true...and repulsive, at least to me. When I've met mortgage brokers brag how they charge one point upfront, and make 2 or 3 on the "back end," I immediately think that they ripped off an unsuspecting customer. Read all of Carolyn's book, but when you get to Chapter 5, you'll soon realize that this knowledge alone can save you many thousands of dollars. My hat is off to Carolyn who tells it like it is...I wish I read this book before I got in the business. I am highly recommending it to all my clients.

I'll speak to what I know. This book is a must read for anyone in the market for their first mortgage. It's a no-nonsense, practical tool for the first-time home buyer. We used the tips and strategies Ms. Warren laid out, and feel we came away with a good, competitive mortgage and an honest broker. Mortgage Rip-Offs and Money Savers, along with Home Buying for Dummies or something similar, should be required reading for anyone getting ready to purchase a home. Sorry, can't speak to the advice on refinancing - didn't read it.

What? "Do some lenders or brokers not disclose this"? The poster, non-fiction rules, must be with a lender protecting dishonest and abusive behavior. Flip it - what percentage of lenders clearly disclose back end commissions, manipulated rates, AND junk fees? I read the book and YSP is very adequately explained! How long has it taken for one person to step forward and expose years of greed and trickery in this industry? Mortgages are not "entitlement" programs to benefit lender lifestyles. This book is a must read for everyone. Cheers to Carolyn Warren!

YSP or Yield Spread Premium is compensation that a lender pays to a broker. Oftentimes, YSP is used to assist a borrower in reducing closing costs. Otherwise, a borrower may not have sufficient assets to close a loan. As an example, a 'par' rate might be 7%. A broker fee paid by the borrower might be 2% of the loan amount. On a loan size of $150,000, the broker fee would be $3,000. If the borrower was not able to pay all closing costs, YSP could be used to pay the broker fee. The rate with 2% YSP in this example would probably be 8.2%. The borrower is paying the broker fee within the confines of the higher rate, but saves $3,000 at closing. Some transactions might not occur without the use of YSP. Do some lenders or brokers not disclose this? By law they have to disclose it. Please be aware that everyone claiming to be an expert is not always an expert.

This book is for everybody...those who've already bought a property, those who are contemplating buying a property, those who want to learn more about mortgages, those interested in real estate. Carolyn Warren does a good job of explaining the ins and outs of mortgages and how loan officers/brokers/lenders get paid. If you've already bought a property, you can review your papers to see if you got taken to the bank. If you haven't bought a property yet, you can educate yourself on what to look for. What's really important is the YSP!! The YSP, or yield spread premium, is what the loan officer/broker/lender makes on your loan. I would buy this book just on the chapter about YSP alone! She gives a lot of great examples of what you should look for in your mortgage papers as well as junk fees you should avoid, fees you can negotiate and fees you will have to pay. When I bought this book, my friend was in the process of buying an investment property. She recently spoke to a loan officer and she didn't understand any of the papers. I called the guy the next morning and asked about the fees he was charging and his YSP. He acted like he didn't know what the YSP was (probably cuz he knew he was dealing with an educated buyer). Needless to say, he called my friend afterwards and said he was impressed with my phone conversation. He actually thought I worked in the lending business. I even emailed the author about my friend's situation and she returned my email within 3 hours!! If you have a quick mortgage question, she'll email you within 24 hours. I found this book to be highly informative and educational. It will definitely save you money! I'm sure those who work in the industry can't be too happy with this book, but it's good to see an industry insider like Ms. Warren blow the roof off the shady lending practices! Now is definitely the time to buy this book!

Extremely informative. I liked it so well I had copies sent to my sons.

The author has done a great job explaining about mortgage. Asking for mortgage rate instead of Good Faith Estimate tells the lender/broker that you are not educated consumer! Well done, Carolyn! If you buy this book, you will definitely save a bundle!

If you have a purchase or refi in your future, you MUST read this book. You may not want to review past loans. It will make you reel seeing how you helped pay for your lender's new Lexus.

I knew absolutely NOTHING about the mortgage industry. I'm looking to refinance right now and am finding this book invaluable. I wish I had this before my last mortgage. Carolyn also e-mailed me back within a day. When I get my GFE's, I will definitely use the Money Saver service found on her website. THANK YOU Carolyn!

This book is absolutely amazing.

I'm currently shopping for a mortgage and was *almost* roped in by several of the tactics Carolyn outlined in her book. My husband and I started our house buying process with the intent to use the builder's financial mortgage services. We got pre-approved using my ss#, income and asset info which was a fairly straightforward process. The builder threw in a 12,500k lot discount and offered us $1,500 credit on closing costs. Our mortgage consultant spent a great deal of time going through various options and even talked about interest rates (6 months outside of the close date). At the time I had no idea what I was doing and so I trusted her to provide me with all of the information I needed to make a decision.

Fast forward to five weeks ago (today is 8/20).

My mortgage consultant essentially faded away. She didn't return calls. She didn't respond to requests for GFEs (if you don't know what that is, buy this book), but finally did after the forth request. Although Carolyn suggests that you shouldn't 'shop' mortgages, I did after reading the 'secrets' and changed my whole approach to the process.

First, my builder's mortgage lender considered us a slam dunk. We were locked into using them otherwise we'd lose our discounts. After reading the book, I decided to call two other brokers one of who responded with 4 GFEs within 45 minutes. I made it easy for him to get them for me because I outlined all of the information Carolyn stated that he needs to generate these. In addition, I asked him point blank the questions that SO MANY people fail to ask!! I'm not going to give you the list because it's in the book (if I quit my job to write a book about the secrets, I wouldn't want someone spilling the beans)!

I asked about some of the fees and here's how he responded:

App & Commitment Fees: With my stellar credit and all of my paperwork ready to go, I promise it will be a very clean loan. "The commitment fee is the only charge from the lender. It is to cover their cost of doing business. I have no leeway in reducing or waiving that fee. As a broker, every lender we have use will have a similar fee. As for the application fee, this is our only fee and I can look into reducing it but I can't waive it completely."

Attorney Courier Fees/Copy/Fax/Email Fee: Again, I'll have all of my paperwork to you early August for a September 12th close date. "Just based on our conversations I can believe that this loan will be very clean and painless for both parties. You are a much more educated borrower than we normally see. The fees that the attorney charges for your closing that is shown on the GFE are an estimate that should cover most attorneys no matter where they are. If you have an attorney that you want to use (and it is your choice) that will negotiate their fees, please let us know. Again this is a third party fee that I cannot negotiate or reduce, whatever they charge is passed along to you with no mark up on our end."

I was amazed when he said, "Your much more educated borrower than we normally see." All of my questions and comments to him came from understanding these dirty little mortgage secrets.

To make a long story short: this book gives you all of the information you need in order to make an educated decision about one of the most important decisions in your life.

The builder's mortgage lender's closing costs are $11635.00 and the new broker's are $6,800.00 and he disclosed every fee and commission (whereas the builder's lender would not). The builder's lender charges a higher rate than the new broker even though I have stellar credit. The builder's lender didn't even try to find a competitive rate for us because they *knew* the discounts would keep us hooked.

My personal mortgage tip for the day: when you see these types of discounts continue to do your homework!! Do not be fooled and by all means, don't sign something saying you'll lose them if you use someone else (like we did).

In the end, we were able to finally negotiate the discount and closing fees using another lender. Had I not purchased and read this book, we would have paid a lot more for our mortgage.

buy today....

I've read everything I can get my hands on about predatory mortgage lending practices, taking pages of notes and memorizing them. Carolyn Warren's "Mortgage Rip-Offs and Money Savers" is by far the best. She gets me laughing at her stories and observations and gets my hackles down a little before embarking on the journey of buying a house. There can't be much trickery in this industry she's leaving unexposed.

I wish she could be my loan officer!

This book is very informative. Shows the games and chicanery that mortgage brokers play that empty your pocketbook. Book is very straight forward, accurate, educational and I would recommend it to anyone who is in the market for a mortgage.

Carolyn's book on mortgage rip-offs tells you more than just how to decipher good faith estimates and truth in lending forms. She tells you how the industry thinks regarding your money and their profits. She gives you ideas on how to spot an honest broker or loan officer as well as the red flags thrown up by the dishonest ones. She teaches you how to put yourself in the best position possible BEFORE the closing. Knowing how to find an agent you can trust takes a lot of the doubts and stresses out of an already stressful process. ANYONE considering buying a home, refinancing, or just opening a line of credit owes it to themselves to read this book!

I read this book as I started the process of refinancing my home. I wish I had this with when I had orginally purchased the house. The book was extremely easy to read and provided me with great information on how to begin a search for the best lender. With this information I was able to not only feel less overwhelmed by the process but it educated me on how to communicate with the lenders and obtain the best loan.

I also used her money saver servce and sent her a copy of two good faith estimates. She reviews these and only charges if she saves you double your money. Turns out that my loan was so good (thanks to her book) that there was no money to save on the loan, therefore, she reviewed everything free of charge! Thanks to her I am refinancing with total confidence that I got the best deal. To top it off she contacts you by phone and was extremely professional and friendly. Thank you Carolyn!!

A well written easy to read book that all homebuyers should read. It was well worth the money.

After reading "Mortgage Ripoffs & Money Savers" I feel more confident that when it comes time to buy property I will be well prepared. I was amazed at what lenders think they can get away with. Well they won't get away with extra cash from me, thanks Carolyn!

I didn't know the first thing about how to find a loan officer and/or mortgage. I read Carolyn's book and now I feel completely confident in choosing the right type of loan and the right loan officer. Carolyn lays out easy steps to take to get GFEs and how to pick a fair and honest loan officer. It was easy to read and I would recommend it for anyone looking to get a mortgage.

Wow! What an eye opener. I've bought and sold houses previously and am now figuring out just how much money I could have saved if only I had this book then.
Everyone, and I mean everyone who is thinking of purchasing a home anytime in the future needs this book. It has come just in time for my next purchase however and I plan on putting the strategies and principles laid out by Carolyn Warren to good use.

Greg B.

This book is an excellent resource for mortgages. If you really want to know tips, advice or directions, Carolyn gives it to you in easy to understand languge. No industry jargon; plain simple english. Step by Step approaches. I think everyone thinking of getting a mortgage should FIRST read this book. It is about time someone is honest and straightforward about the mortgage industry and the process. Don't get a mortgage without it!

I've been reading this book all weeking as I am conducting my mortgage search. I've found a load officer that I can trust my mortgage with based on the information disclosed in this book. The book has tought me more knowledge about the mortgage industry than what I've been resarching online for a month. Definitely a must read if you are considering a mortgage or refinancing now.

Within minutes this book will empower you, literally. It is a very easy read, meaning clear concise sentences and paragraphs. The author is one of us, the honorable working class, speaking to us. She is also brave because she does reveal insider `rip-offs' that has been the norm for probably a long time.

I am a first time home buyer in the beginning stages of the process and luckily discovered this book hours before my first meeting with a mortgage broker. When I met with the broker after reading a few pages and was now more savvy and confident he literally changed color when I politely asked for a Good Faith Estimate (GFE) before giving my SS# and added I would be comparing three GFE's before making a commitment to who I would be working with. And this was a referral from my accountant.

This book has given me peace of mind and will save me money. Obviously, I highly recommend the book and the author, Carolyn Warren.

This book will help you understand where you are being riped off!! If you are buying your first home I suggest you read this book first. I can't tell you how much this book helped me. Thanks so muck Carolyn.

This book is over-flowing with information, from the basics of credit and debt to income ratios, to more technical topics such as option arm loans.
Carolyn has presented more in-depth information on credit than I've got by talking to reps from credit reporting agencies! She's really done her home-work so you don't have to. As the mortgage regulations tighten up, lenders are getting much more stringent on credit requirements so taking care of your credit is even more important than ever.
To those considering option arms, read that section carefully and give it a lot of thought before making your decision. Option Arms are a great deal for those who understand them, but not appropriate for someone just looking for the "lowest rate available."
Beyond the loan itself, Carolyn has pointed out the potential issues when financing condos and multi-unit dwellings. Manufactured & mobile homes are also in the difficult to finance category.
Lastly, an one in the mortgage industry, I appreciate that Carolyn points out that not all mortgage brokers are sleazy and out to get the consumer!

Ah, where do I begin?

I am someone who had to learn the hard way about real estate. I looked to buy my first house in areas that had goldmine rushes in appreciation, like Princeton, NJ, Kapaa, HI and finally settled on Portland, OR--one of the most competitive markets in real estate history (last year, prices raised 150 grand in 3 months, and the bubble still has not burst.)

I was in contract multiple times, but since the houses I liked were old, they were plagued with foundation issues, dry rot, water damage...I was so used to bad inspections and dropping properties, I almost fell out of my seat when a perfect, 6 bedroom, Victorian, commercial space had an excellent report.

I was so focused on the front end of my deals, negotiating into contract, I had neglected studying the loan process.

When the sellers to my dream house learned they had backup offers close to 100 grand more than I paid, they did everything they could to throw my deal and restrict my timetable to get a loan. They asked for a week long extension on my inspection period, pretending they would repair misc. small items and then returned saying not only did they not call in contractors, they would not grant me an extension on the close date and practically cackled in my face,"have fun getting a loan!" I had 2 weeks.

I read 4 books on mortgages, but still felt unprepared. Then, by sheer luck, I found Carolyn Warren's, Mortgage Rip-Offs and Money Savers and it saved my entire deal.

This book is THE most informative, concise, entertaining book you will ever read on mortgages. It is an absolute crash-course, packed with minute details on the dirty, ugly, greedy world of mortgages.

She tells you how find a loan in one day, what to say to the lenders, how to cut out their sales' pitch and get facts, and she warns you about scams --and trust me, even the most reputable companies, will try to deceive you.

I ended up frustrating so many lenders because I would catch them at every turn, Warren's book gives you the power to anticipate the games these companies will play with your time, money and future investment. I had no idea how loan officers can be worse than car salespeople and they are relentless.

What will they do to you? Lie, lie and lie some more. They will pretend they cannot get you Good Faith Estimates or Truth-in-Lending forms without running your credit or taking an application fee (never pay this!), they will say their "computers are down" and want to run numbers verbally (thus, it is not binding), they will quote good deals and then act like they made a mistake-more bait and switch, they will not tell you what the wholesale price of their loan is and how much they over-charged you, they throw in junk fees...but even when you think you have it nailed in writing, they can surprise you at the closing table--especially, if they know you are pressed for time and love the house--they will try to change terms or slip in new charges, and conveniently be "unavailable" to correct blatant errors, in your final moments.

In addition to her book, Carolyn Warren runs a website where you can email her questions. She answers within a day and will even look over your Good Faith Estimates and Truth-in-Lending forms. She claims she will save you twice as much money in your closing costs then she charges you, or else your consultation is free.

I was so terrified of losing this deal and expressed my desperation in an email, Carolyn even took the time to call me and give me additional advice.
I am not sure if she does this for everyone, my situation was pretty extreme...so, I hope my stating this will not result in overwhelming requests for a phone call from her...but I feel I should include this in my review because she was incredibly kind and she armed me with the knowledge I needed to protect myself. (Thank you, Carolyn!)

And here are some extra pieces of advice, from me. When you look for a mortgage broker, google "Upfront Mortgage Brokers." They have a website, with state directories of lenders and brokers. You can read about their philosophies on the website. They will not hassle you about getting Good Faith Estimates or Truth-in-Lending forms...(at least they won't pretend their "computers cannot generate these" without paying a fee--as Countrywide tried to scam me.) But do NOT let your guard down. Follow Carolyn's advice, watch the junk fees, use her service--if you want an extra pair of eyes to catch something on the forms. Even the "Upfront Mortgage Brokers" will mess with you. Be Vigilant.

Finally, when you notice a Realtor or Mortgage agent is making "mistakes"--but then is suddenly out of the office or town, not taking your calls? Always get their cell numbers before your time line crunch hits and try dialing *67 before their number. This blocks your number from registering on their Caller ID. Most likely you will nab them, because they won't want to miss important phone calls from other potential suckers--oops, I mean clients--and you can demand time-sensitive documents be handled/fixed and not ignored.

I wish all of you luck and happiness in finding a home. And I promise you, buying Mortgage Rip-Offs and Money Savers, by Carolyn Warren, will be one of the best bargains you will ever find. I gave this book, as a gift to several friends and they are like me--they cannot shut up about how great this book is! No joke.

I'm so relieved I've got this book. I have a 3 yr ARM and I'll need to refinance at some point. And this time, I'll know what I'm doing. I didn't when I first got my mortgage.

This book is packed with good information, explaining what all those crazy lines are on your "Good Faith Estimate" (I didn't even know what a GFE was when I got my mortgage, and I'm not sure I ever received one).

It will tell you which fees are junk fees, the pros and cons of different kinds of mortgages, how loan officers can sneak in extra fees that can make a seemingly low interest rate actually very high, and - most important - what the YSP is and why you'd better not ignore it!

When it's time to refinance I will *definitely* re-read this book thoroughly. Now that I've read it, I know it could save me thousands of dollars.

Best of all, it's not dull or hard to understand. It's straightforward.

Nobody should buy a home or refinance without reading this book, imho.

I received this GREAT book in the mail last week & have devoured it!! I am currently on my 3rd read....THANK YOU!! so much for the wonderful info. & insight!! Your tips about how to shop for the right mortgages, 'junk fees', locking rates, etc.,,,were so excellent & easily understood even to a novice to the workings of loans like me...that I now feel confident that I could negotiate a great deal!! I must say your 'TIP" about the YSP was worth $1000.00 or more... when our credit is better & we can negotiate a better loan I will remember & send you a tip.