The Borrower's Bible

The Borrower's Bible

4.11 - 1251 ratings - Source

qAfter reading this book, look no further to help apply your knowledge and interpretation, and learn the actions you can take today...that may impact your wealth for the rest of your life.q All the best, Barry Habib CEO, Mortgage Market Guide qAnyone considering buying or refinancing a home - or even anyone interested in expanding their learning base - will gain a great deal of value from this down-to-earth, super informative read.q Sue Woodard Vice President, Mortgage Market Guide qThis book is a great resource to help answer the must-know questions when acquiring a mortgage.q Jim McMahan Division Vice President, CTX Mortgage Co. Do not READ THIS BOOK if you pass this test!! 1.Credit scores are important to getting a loan. It is important to pay off all outstanding collections prior to getting a mortgage. TRUE/FALSE (Answer on page 15) 2.Bankruptcies cannot be erased from a credit report for seven years. TRUE/FALSE (Answer on page 17) 3.Interest-only mortgages are dangerous. TRUE/FALSE (Answer on page 37) 4.The larger the loan, the higher the rate, because there is more money at risk. TRUE/FALSE (Answer on page 91) 5.The average interest rate was in the 4% range from 1790-1970. TRUE/FALSE (Answer on page 74) 6.Interest Rate is the most important factor when considering a mortgage. TRUE/FALSE (Answer on page 87)On the other hand, negative credit information can hurt your score for years, though older data is less damaging than recent ... credit score drops because they aquot;did the right thingaquot; and paid down an old, inactive debt (See PAYMENT HISTORY).

Title:The Borrower's Bible
Author: Todd Gehrke
Publisher:Dog Ear Publishing - 2006-10

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