Dos and don’ts of mortgage shopping

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"I don't want an education in mortgages; I just want to know enough to save as much money as possible on my new mortgage. Also, as an African-American, I want to avoid being taken advantage of. Any chance you can distill what I need to know into one article?" Here are some quick and dirty suggestions for vulnerable borrowers who want to save money but don't want to make the process into a life's work. Determine Your Status as a Borrower Before You Search For a Loan: You may not qualify, which is a common occurrence in a market that has become very demanding in the wake of the financial crisis. Or you may qualify, but not for the best prices possible. In the first case, you must wait until you have strengthened your application, and in the second case you may elect to wait in order to earn a lower price. Our housing finance system is weak in providing this service because it is hard to make money at it. You can get a partial answer at the sites of Upfront Mortga...