Agent

New mortgage book disappoints

Lack of junk-fee, reverse mortgage specifics fail reader
Published on Oct 26, 2004

The new edition of "Mortgages for Dummies, Second Edition" by Ray Brown and Eric Tyson, based on their qualifications and real estate experience, should have been a "home run." Instead, it was barely a disappointing two-base hit. Starting with their modest attempt in the first edition, the authors should have improved their new edition to correct the prior deficiencies and make it the best home mortgage book in its field. Purchase Bob Bruss reports online. Although the latest version is an improvement over the first edition several years ago, the authors make obtaining a home loan seem like a major challenge. For home buyers and home owners who recently obtained home mortgages, they know the real test is to avoid being "ripped off" by the lender. The authors barely touch that topic, entirely neglecting lender mark-ups on legitimate loan charges and barely mentioning expensive junk and garbage fees. For example, most mortgage borrowers have no clue what a "yield spread premium" ...

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