Mortgage Myths: 77 Secrets That Will Save You Thousands on Home Financing [Paperback]

Ralph R. Roberts (Author), Chip Cummings (Author)

Book Description

Publication Date: January 2, 2008

In Mortgage Myths, Realtor Ralph Roberts and mortgage consultant Chip Cummings take aim at the 77 mortgage myths that prevent so many would-be homeowners and real estate investors from pursuing their dreams of homeownership. You’ll learn the difference between good and bad debt, how to make mortgage approval easier and simpler, and how to use other people’s money to leverage your investments. This is the ultimate guide to getting the great deal you deserve.

Editorial Reviews

From the Back Cover

REAL ESTATE

Debunk all of the industry's tall tales and discover the reality

of real estate financing

The mortgage game has changed dramatically, and you need to know the rules! Based on years of firsthand experience as borrowers, mortgage and real estate brokers, instructors, and industry insiders, Ralph Roberts and Chip Cummings team up to wipe out all the myths about mortgages and deliver the information you need to purchase and secure profitable long-term investments.

Here are some of the common myths that Roberts and Cummings dismantle:

• You should always make the biggest down payment you can

• Your main goal should be to find the lowest interest rates

• Short-term investments are better than long-term investments

• Your credit score alone determines whether your loan gets approved

• It's okay to save home improvements and repairs for later

• Your mortgage payment will never change

• Low inflation means lower appreciation

"The whole process starts by dealing with people you can trust. You can trust your first step with Chip and Ralph, as they have put together an incredible collection of truths brought to you by the biggest names in the business. Mortgage Myths tears down the wall between you and the home-buying process, exposes the real secrets to building equity, and gets you on the road to homeownership—the right way!"
—Eric Weinstein, CEO, Carteret Mortgage Corporation

"If you're even just thinking about buying a house, you need this book. It even includes key information, forms, and booklets that no home buyer should be without."
—Ruth Faynor, National Education Consultant for the National Association

of Mortgage Brokers (NAMB)

"Homeownership is the American dream. Too many times I've seen this dream go sour. We are in the business of making those dreams a reality, and Chip and Ralph have opened the doors! If you're a first- time homebuyer, REALTOR®, or loan officer, you've gotta have this book."
—Aaron Metaj, CEO, Apollo Mortgage Finance Corporation

About the Author

Ralph R. Roberts, ambassador of enthusiasm, has been dubbed by Time magazine "the bestselling REALTOR® in America." He is also an award-winning and internationally recognized speaker, real estate team coach, and business consultant, as well as the coauthor of Flipping Houses For Dummies, Foreclosure Investing For Dummies, and Advanced Selling For Dummies.

Chip Cummings, CMC, is a twenty-three-year real estate finance veteran and has been an originator, broker, banker, and president of both large and small mortgage companies. He is an international speaker and business consultant, as well as author of ABC's of FHA Lending and Stop Selling and Start Listening! He has written dozens of articles for magazines and has been featured on various radio and TV programs.

Product Details

• Paperback: 304 pages
• Publisher: Wiley; 1 edition (January 2, 2008)
• Language: English
• ISBN-10: 0470195878
• ISBN-13: 978-0470195871
• Product Dimensions: 6 x 0.8 x 9 inches
• Shipping Weight: 12.8 ounces (View shipping rates and policies)
• Average Customer Review: 4.5 out of 5 stars  See all reviews (6 customer reviews)
• Amazon Best Sellers Rank: #580,881 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

6 of 6 people found the following review helpful:

5.0 out of 5 stars Mortgage Myths Review, April 24, 2008

By 

Craig Daniger (Granada Hills, CA) - See all my reviews
(REAL NAME)   

This review is from: Mortgage Myths: 77 Secrets That Will Save You Thousands on Home Financing (Paperback)

Hey Loan Officers! This is a great book to give to your clients. All your disclosures would be covered. Plus it is full of good advice. I even learned a few things. Worth the price.

6 of 8 people found the following review helpful:

5.0 out of 5 stars Long over due., January 2, 2008

By 

Mortgage Trainer "MT" (Monroe, NC) - See all my reviews

This review is from: Mortgage Myths: 77 Secrets That Will Save You Thousands on Home Financing (Paperback)

This type of information is long over due not only for consumers but industry folks as well. Two respected professionals in their own field come together to give timley, important information to consumers,
industry and everyone else.

This is not only a must read for anyone thinking of buying, selling or refinancing their home but should be part of any real estate or mortgage professional's library.

1 of 1 people found the following review helpful:

5.0 out of 5 stars Excellent for beginners, February 11, 2009

By 

Ken Charles (San Diego, CA) - See all my reviews

This review is from: Mortgage Myths: 77 Secrets That Will Save You Thousands on Home Financing (Paperback)

Great format! I liked the way the text was laid out using "myths" and "stories" to illustrate the points. Anyone just starting out looking for a home will find this a great resource.

Have enjoyed other books by Ralph, so this was an easy pick - and I wasn't disappointed.