The New Rules For Mortgages
By: Dale Robyn Siegel
Published: September 1, 2009
Format: Paperback, 192 pages
ISBN-10: 1592579485
ISBN-13: 978-1592579488
Publisher: Penguin/Alpha
"Since the big mortgage industry implosion, the rules have changed for so many things, from credit reports to loan amounts", writes attorney and President of Circle Mortgage Group Dale Robyn Siegel in her practical and no nonsense guide to the real facts about mortgages The New Rules For Mortgages. The author describes, in straight forward language, how mortgage rules have changed in many profound ways from the previous rules and applications of even a few short years ago.
Dale Robyn Siegel understands mortgages from the inside. As an active homeowner mortgage professional, the author recognizes that the former rules for obtaining a mortgage no longer apply in today's tighter lending climate. In recent years, for example, people with lower credit scores were able to obtain mortgages for houses with little difficulty. According to Dale Robyn Siegel, that is no longer the case. She provides the hard facts about the necessity of a high FICO credit score, and how to rebuild one damaged through bad credit. The book also guides the potential home buyer the importance of steady, secure employment or confirmed alternative income, as well as the hard numbers needed to qualify for and repay a mortgage successfully. She also includes a critical budget section to project not only principle and interest costs, but also other expenses associated with owning a home.
Dale Robyn Siegel (photo left) leaves no stones unturned in her assessment of income, and sources of down payments. The author also includes a concise discussion of how and why it's critical to examine a house thoroughly for structural problems, and for ensuring a fair and honest home value appraisal. Essential reading for any would be borrowers is found in the important sections on deciding upon the right mortgage to suit the buyer's circumstances. The close examination of different mortgage types is a crucial part of the new mortgage rules, where various exotic types of mortgage loans no longer are available. The author also shares money saving tips for knowing where to get the best possible mortgage at the best possible terms, including an understanding of the entire loan process from application to closing.
For me, the power of the book is the simple fact that the book was written by a mortgage practitioner with real world experience with today's mortgage market and rules. Instead of applying vague theories about how homeowner mortgages are structured and financed, Dale Robyn Siegel shares advice that the reader can use to save thousands of dollars in every step of the home mortgage process. From applying for the most suitable type of mortgage, to obtaining that financing from the right mortgage lender, to ensuring that all fees and closing costs are kept to a minimum, the book is a powerful money saving tool. The book is meant to be a useful tool, for saving money in the present, as well as over the life of the mortgage. The author is highly successful in achieving that critical result for the reader.
I highly recommend the essential and must read book The New Rules For Mortgages by Dale Robyn Siegel, to anyone who is in the market for a home or condominium mortgage. The book is also valuable for current mortgage holders who are looking to obtain a mortgage more suitable for their income level, income type, and overall financial goals. As an additional bonus, the author offers valuable advice for protecting the home and mortgage in the event of divorce, death, or dissolution of business partnerships.
Read the important and up to date book The New Rules For Mortgages by Dale Robyn Siegel, and learn how to obtain the right type of home mortgage, at the best possible terms for you. Put the real world experience of a mortgage professional to work for you. The money and problems you save will pay for this valuable book innumerable times over.
