Mortgage Confidential: What You Need to Know That Your Lender Won't Tell You

David Reed's MORTGAGE CONFIDENTIAL: WHAT YOU NEED TO KNOW THAT YOUR LENDER WON'T TELL YOU tells everything a lender won't about what they really look for in an application before approving a loan, and is a pick for any solid real estate collection and for any who would understand the loan process. From qualifications for different size loans to avoiding scams and maximizing chances for loan approval, MORTGAGE CONFIDENTIAL is an invaluable guide.

I'd read a good review of this book before buying it, but I was surprised at how much useful information is in the book - highly recommended even if you think that you're pretty knowledgeable about mortgages.

The books use plain everyday English and is very well put together. As a complete novice in the world of mortgage, I got a much better and clearer view from it than I was expecting. If you are a first time homebuyer, it's gold. I have a much better handle on what to expect and what to avoid as I head into the mortgage market. This is, by far, the best of the three books I have read on mortgages.

this book has been quite helpful to me as a Financial Consultant in helping clients understand the "language" in the RESPA docs.

Author David Reed has done it again! I read his first book, Mortgages 101 and like it so much that I bought this one without any deliberation. I have been reading his column in Realty Times for years, and always enjoyed them. In a clear, concise, easy to read manner, the author has set forth in simple and easy to understand terms the truth about mortgages and mortgage lending. Everything is explained, such as where mortgage money comes from, to how Annual Percentage Rate is determined to shopping for a loan and (hopefully) avoiding some "junk" fees. Also included is the commonly misunderstood diferrences between a Bank, a Mortgage Bank, and a Mortgage Broker. All this ads up to a great book to read for the consumer who is shopping for a mortgage loan. Details too numerous to explain here, but you won't regret buying this book, if you are eithar purchasing a home or refinancing. The "confidential" part of the title is the stuff Loan Agents know, and he has made it available to the reader. One very miniscule flaw I picked up, with perhaps no relevance, is on page 150: It states that rate caps protect you, "even if they go into the 20% range as they did in the late 1980s." I think he meant the early 1980s. A time we'd all like to forget... Another interesting thing I picked up was that he did address the once popular pick-a-payment loan, which I like in certain circumstances and he has disdained in his column. They do work well for some people in some situations, and I was glad to see him recognize that (page 159), although he does advise to people to avoid them. Glad to see a slight concession. This is a highly informative book, which doesn't include a lot of math (the only math, really, is easy to understand graphics), which makes it the best book on the market to easily understand the whole process of lending- being a consumer or loan officer. Good job on this book Mr. Reed! Buy this book--you won't regret it...