Last week we received a postcard from our friendly tax assessor informing us that our assessed value increased 14% over last year. When I owned my first home, this news would probably excite me. What it really means is that our mortgage payment is going to increase. [Read more…]
Homeownership & Lifestyle
Homeownership is more than a mortgage — it’s about community, lifestyle, and long-term planning.
This section includes personal insights, community involvement, and home-related topics that reflect the broader experience of owning and living in the great Pacific Northwest.
Mortgage Ripoffs and Money Savers by Carolyn Warren: a book review
June 26, 2007 by 2 Comments
I just finished reading Carolyn Warren’s book, Mortgage Ripoffs and Money Savers. As I mentioned over the weekend, this is a longer read at 222 pages…it is full of information that I feel is very useful. If I had to be critical, I would say at times the book is a little on the sensational side…with that said, it does have me thinking. I’ve only worked for one mortgage company and Carolyn, the author, has not only worked for several mortgage companies, but also varies types of mortgage companies (wholesale, subprime, bank, consumer loan, etc.). She has been more exposed to various types of Loan Originators than I have. I wonder how much of her experience is more subprime/consumer lending vs. working for an ethical mortgage company?
I do have experience with Loan Originators from my previous career in the title and escrow industry and I certainly developed an opinion of many in the profession. Are there really that many bad Loan Originators out there? I know so many outstanding Mortgage Professionals who I’m proud to be assoicated with…and I also know there are some giving our industry a black eye. It will be interesting to see how many do not pass the mustard with the state’s new licensing requirements (this law only applies to Loan Originators who work for Mortgage Brokers: not mortgage banks, credit unions or consumer finance companies). Anyhow, back to the book review…
What is most valuable with Carolyn’s book is that she teaches consumers how to shop for a Mortgage Professional…not interest rates. She also has great points on how to compare good faith estimates and understanding YSP (Yield Spread Premium). I do have some small issues with how she covers YSP. I’ll have to do a separate post to dig into this issue and being a Correspondent Lender.
Bottom line, she is providing consumers with a lot of information to help them navigate getting a fair deal on their mortgage and I am all for that!
What I hope to do this weekend
June 23, 2007 by 2 Comments
Besides visit my baby sister (baby, she’s 36 years of age!) for her birthday on Saturday…I’m hoping to dig into a book that was graciously mailed to me. Carolyn Warren is the author of “Mortgage Rip-Offs and Money Savers”. She was kind enough to send me her book a week or so ago and I’ve only made it to page 16. So far, it’s a fascinating read, even for someone in the industry…me making it only to page 16 is not a reflection on the book! I’ve had a very crazy week trying to help a couple of clients who had the misfortune of getting involved with a major internet lender (you know, the advertiser on TV who promotes having 4 lenders compete and beg for your business)…I promise to post about their stories will follow once their transactions are closed (names will be changed to protect the innocent and not-so innocent, of course).
Carolyn’s book is a bigger read than the last review I did, It’s Not About Rate…so I’m contemplating reviewing the book in sections or just reading all 222 pages and then giving my 2 cents! I’ll figure it out and post the results soon.
Happy Birthday, Janette!
My new phone…the Treo 700wx
May 31, 2007 by Leave a Comment
UPDATE 2026: It’s so funny to see some of my old posts – especially about tech. I promise you, I have a newer phone now. 😜
I was literally counting the days of being able to trade in my Treo 650 for a new phone. I wasn’t sure if I was going to stick with a Treo or what type of phone I would wind up with. I love gadgets! For my phone, beyond the obvious receiving and sending phone calls, I also need:
Book Review: It’s Not About Rate
May 2, 2007 by 1 Comment
Richard Cohen, author of “It’s Not About Rate–The Right Way To Get a Mortgage”, was kind enough to send me his book to review. For a short book (we’re talking 76 pages) it covers a great deal of mortgage material without being overwhelming to a first time home buyer. I appreciate how Richard injected bits of humor along with solid information about mortgages. This is very readable and I highly recommend this book for consumers considering buying or refinancing their first home.
