Virtual Book Tour & Review: The New Rules for Mortgages by Dale Robyn Siegel

Every home library should have a copy of "The NEW RULES for Mortgages", whether you are currently looking to buy a home, or not. This book holds a wealth of information that can help you with things like cleaning up your credit, what to do if you are a victim of identity theft, what things to do to boost your credit score, and so much more. These won't just help you with a home loan, but other areas as well.

Did you know that even your insurance is based on your credit? I had a friend that found that out the hard way when his car insurance took a big jump. He called the insurance company to find out why, since he's never had an accident or was late on his payments. They told him he was a high risk and would be more likely to total his car or set it on fire to get out of paying for it. Weird, especially since his car had been paid off for years! Dale addresses these types of things in her book.

Now down to the meat of the book. Dale covers types of mortgages, how to get the best one for you, interest rates, costs, the loan process, closing, protecting your investment in your new home, etc. She also covers things like types of property, what to look for when considering purchasing a house, and how to detect problems and prevent them.

I wish this book was available when we were looking at purchasing a country home. We thought we'd be smart by shopping for lenders and didn't know that every time someone looked at our credit history, that points were lost. Our score took a loss and then was flagged because of being looked at so much. Then we got conflicting information from one lender to another, and really never knew what was true. It was an interesting time, and we spent many, many months looking and trying to decide what was best.

With "The NEW RULES for Mortgages" available, one never has to go through the mortgage process in the dark. Even if you aren't considering buying a home now, you really should read this book, as you may be put in a situation that requires you to move in the next year or so.

I can't recommend this book, highly enough. It will do nothing but save you money, and not just with purchasing a home - but in all areas of your life.

The New Rules for Mortgages
Author: Dale Robyn Siegel
Publisher: ALPHA Books
ISBN: 9781592579488
Genre: Non-fiction, finance

Synopsis: (taken from Amazon)

THIS BOOK IS the latest and most current how-to book on how to get the best mortgage and the lowest interest rate out there..... The book is short, around 200 pages, so there is no room for fluff or filler. It is easy to read, set up in chapters and short essays on specific topics. A how-to book on real estate written by an attorney, 20 year veteran in the mortgage industry AND a college level professor. The material is a combination of her classroom format, her every day knowledge and expertise combined with real life experiences to bring the point home. This works and you will love it!

A few interesting and favorite topics covered in 300 words or less:
* What are the new guidelines for FICO scores and loan to values and how do they affect mortgage rates?
* What is Rapid Rescore Response and can it really improve your credit score in 48 hours?
* How to get money from your 401k without a penalty
* When can a loan from my father-in-law be called a gift?
* Why is now so important to show as much money in reserves as you can?
* PMI v self insured. Which one is the bigger rip-off?
* What will it now cost you to refinance your home and pull cash out?
* Appraisal fraud and how is it affecting the value of your home
* What is an appraisal contingency clause vs. a mortgage contingency clause and how can you lose your deposit if you do not know?
* Points, origination fees, discount fees and broker fees. How do you avoid them all?
* What really affects the mortgage rates?
* Where do you find the best lawyer in town?

About the Author:

Dale Robyn Siegel is a licensed attorney in New York and President of Circle Mortgage Group, in Harrison, New York. She is an adjunct professor at NYU Schack Institute of Real Estate as well as Baruch College. She is the editor for the blog "Diaries of a Mad Mortgage Broker" and has been speaking to the public and teaching real estate professionals about mortgage finance for the past ten years. She is a sought after expert on all things real estate and frequently quoted in national publications such as "The New York Times", "Smart Money" and "BusinessWeek". She is currently working on a second book, "The 20 Hour S.A.F.E. Comprehensive Mortgage Loan Originator Course Textbook". This course is now required nationally for all those mortgage professionals with direct consumer contact. She is teaching the course herself in the New York Metropolitan area. Siegel holds both an MBA and a Law degree which have given her the base to be a leader in her field.

To visit the author's web page, go to: http://www.dalesiegel.com/  

This book was supplied by Pump Up Your Book for me to honestly review.