Mortgage Terms: Financial Education Is Your Best Investment

The Simple Guide to Payoff Your Loan & Refinancing, Mortgage Notes, Broker, and Business Management
Narrated by: William Bahl
Series: Financial IQ Series, Book 12
Length: 9 hrs and 14 mins
5 out of 5 stars (56 ratings)

$14.95/month after 30 days. Cancel anytime.

OR
In Cart

Publisher's Summary

Find out essential mortgage terms you should know.

One of the most important decisions that you can make is buying a home and taking out a mortgage to pay for the house. The decisions you make on your mortgage will have financial ramifications for years to come. 

If you find yourself overwhelmed and confused by all the mortgage terms out there, don’t worry because you’re not alone. Getting a mortgage can be a complicated process, made worse by all the unfamiliar terminology your mortgage lender might use.

From lender to loan to closing your home...

With the terminology used in discussing mortgages such as appraisals, equity, escrow, points, and settlement costs, most common people can become easily confused. Mortgage professionals can speak in a language all of their own and the lingo used is unique.

This practical mortgage guide covers topics like:

  • Mortgage lending and brokers
  • Subprime, reverse, and FHA mortgage
  • Commercial and residential mortgage
  • Escrow, points, and settlement costs
  • Home equity and loan modification

This practical glossary in alphabetical order compiles a list of over 125 most important mortgage terms you’re likely to encounter. Every mortgage term is explained in detail, with clear and concise article-style description and practical examples.

It will help you understand most common mortgage terms that you might encounter, and what role they play in the mortgage process. Use this glossary of mortgage terms to better understand the overall mortgage process as well as any specific mortgage terms that may be unfamiliar to you.

PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.

©2019 Thomas Herold (P)2019 Thomas Herold

What members say

Average Customer Ratings

Overall

  • 5 out of 5 stars
  • 5 Stars
    51
  • 4 Stars
    5
  • 3 Stars
    0
  • 2 Stars
    0
  • 1 Stars
    0

Performance

  • 5 out of 5 stars
  • 5 Stars
    51
  • 4 Stars
    5
  • 3 Stars
    0
  • 2 Stars
    0
  • 1 Stars
    0

Story

  • 5 out of 5 stars
  • 5 Stars
    51
  • 4 Stars
    5
  • 3 Stars
    0
  • 2 Stars
    0
  • 1 Stars
    0

Reviews - Please select the tabs below to change the source of reviews.

Sort by:
Filter by:
  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars

Don’t wait to save!

This is what happened within 24 hours of me purchasing this audio-book. I stormed through all the lectures, and absorbed the information Thomas shared. All it took was just one phone call to the bank to review my home loan plan, 10 minutes on the phone, and a new interest rate was negotiated - with an immediate effect, which saved me in excess of $3,700 p.a. and that's not all - Next month I will become eligible for another interest rate drop, that will save me another $3,700 p.a. I cannot believe how easy and simple it was. And that's thanks to the instructor sharing with us all his well researched and tested information. That's only the beginning though, now I'm loading the provided 125 most important mortgage terms with data, and that's when the fun will begin. I wish I had this knowledge some 10 years ago, back then I was not a frustrated middle-aged aging dude with a hefty mortgage hanging over my shoulders (hehe,). Thomas, I can't thank you enough mate!

24 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars

Creativity is key

I am finding the instructor to be honest and full of great information. The narrator has a pleasant voice, speaks at a rate that I can learn from, he is very interesting and is making it where I can grasp the content rather easily. I am glad I took this course. I am going to look to see if the instructor has other audio books as well. Thank you

23 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars

The Financing Bible!!!

This course is an amazing resource for anyone wanting to better understand the overall mortgage process as well as any specific mortgage terms that may be unfamiliar with. I searched his biography as he is professional, courteous, helpful, caring, and knowledgeable I guess. He is incredible! If you are looking for the best, Herold is it!

22 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars

It's perfect. Thank you very much

Amazing Content, Loved This audible. Full of Real World Experience. Bahl is Real Pro. Thank you So Much for creating amazing Course PR.Thomas Herold. Looking forward to new course to learn more Hands On Practices for Mortgage Brokers.

21 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars

Logical instructions to follow "

"This book has all the information anyone needs for all aspects of a closing. It tells you the right questions to ask, when to ask them, and includes helpful checklists, which are really user-friendly. I used this personally in my latest closing, and it was the best guide I could have had. The list of documents needed to be sure the closing goes smoothly was great. I guess Herold Thom is the leading author and expert on closings and escrow and I appreciated the easy narration style of W.Bahl also. Worth buying this book!"

20 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars

It will get you thinking.

I wish I'd found this when I was younger and buying our first home (especially chapter on Commercial and residential mortgage) but I still found it educational now. I really liked how it was written...simple and easy to understand. It covered a wide range of information on mortgage options, FHA mortgage, credit reports and fico scores, warning signs of credit trouble, refinancing, foreclosures, paying off a mortgage, escrow, points, and settlement costs etc.

19 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars

Can't go wrong

What An Amazing Audio BooK. Can Say Thank you Enough to Mr Thomas Herold, For Providing Real World Education for Mortgage Processor. The Best Thing is all important things covers in between 10 hours. Wowwww.

18 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars

Helps me a lot in all my study

Are you looking for a new career? You may want to consider becoming a mortgage broker--a "financial professional who acts as an agent between borrowers looking for mortgages and the institutions that offer them." As Thomas Herold explains in his book The Complete Guide to Mortgage Terms: Insider Secrets You Need to Know, mortgage broking can be a very lucrative occupation, and, believe it or not, a formal college degree is not essential, though, depending on the state, a class may be required before taking the certification exam. The author further notes that though "If you find yourself overwhelmed and confused by all the mortgage terms out there, don’t worry because you’re not alone" along with talent in sales and marketing. And the rewards for possessing these skills can be great. Herold comments that "With the terminology used in discussing mortgages such as appraisals, equity, escrow, points, and settlement costs, most common people can become easily confused. Mortgage professionals can speak in a language all of their own and the lingo used is unique."

17 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars

Terms Made Easy

He thoroughly discusses multiple concepts that truly could be strong, profitable money earning strategies. He outlines some great strategies on how to potentially use LLC’s, which was very interesting and useful. Make sure to have a good team put together for your business (lawyer, accountant/bookkeeper, etc).

16 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars

Successful guide

This book takes a hard subject and makes it understandable. It is based on practical experience and real world examples and is a great way to learn about HECM Reverse Mortgages.

15 people found this helpful

Sort by:
Filter by:
  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars
Profile Image for Beverly
  • Beverly
  • 11-09-19

GREAT IN TIMES OF NEED

This is by far the best book on mortgages terms ever written. Thomas Herold has a gift of relating to everyone he meets and explains things in such a fashion that it makes sense to everyone. From the Harvard law professor to the truck driver, Harlan has the knack for story-telling, analogies and examples to get his point across in an eloquent and effective manner. He helps you understand how reverse mortgages truly work and why they are "a must" for most every homeowner age 62 or older in this country right now. With Over ten years, Thomas Herold has studied the monetary system and has experienced some profound insights on how money and wealth are related and also 35 books with over 200,000 copies distributed worldwide and is the founder of seven online businesses, there is no one more qualified to write a book on this subject. Regardless of one's knowledge level with this loan or academic credentials. Herold's passion for seniors and consistent pursuit of excellence towards educating everyone who will take the time to listen to his book about the mortgage terms (specially about reverse) make him a very unique and successful advocate and educator on this subject.

24 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars
Profile Image for Cherie
  • Cherie
  • 11-09-19

Thorough & Actionable

This is a great course! I was curious about all the mortgage terms. So, when I saw this course, I enrolled. Herold does a really good job breaking down the course topics. I thought buying a home and taking out a mortgage to pay for the house would be more complicated but Herold makes everything clear. I feel more confident about getting started in this business and searching for and buying my first note.

23 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars
Profile Image for John
  • John
  • 11-09-19

Immediately put to use

In general I am very pleased with the class. I had previuosly spent more time researching and reading about mortgage terms; however, wish I had listen this class before. In less than five hours the class explains you the basics and some of the inner workings of Mortgage lending and brokers, Subprime, reverse, and FHA mortgage and many more things. You will be far, far to be "trained"; however, It is a good starting point to plan the next research and training steps.

22 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars
Profile Image for Martin
  • Martin
  • 11-09-19

Glorious

Herold was great in laying out his plans for the overall mortgage process as well as any specific mortgage terms. He seems like a down-to-earth guy that I would love to have coffee with. As an investor who deals in seller financing homes, notes are of great importance to me and this is a great introduction.

21 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars
Profile Image for Samuel Freeman
  • Samuel Freeman
  • 11-09-19

Good Concept

I really enjoyed this audiobook. The book is written very clearly, with great illustrations and examples. The easy to understand way in which closing was explained made sense and was easy to follow. I have read many real estate books, but never listen one written by a closing professional. Someone who really knows the subject matter from first hand experience. This book prepared me for what to expect at closing, what fees I was allowed to question and how to negotiate lower closing costs. I realized that settlement errors just don't happen at the mortgage level, they also happen at the title company. This book delivered on it's title. It really breakdown all the unfamiliar terminology your mortgage lender might use. I went to closing with less worry and more confidence than ever before. I understood what I was doing and what to question. This is the only book I could find that really helps you with the final and most critical part of mortgages terminology.

20 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars
Profile Image for Arlene Vela
  • Arlene Vela
  • 11-09-19

Great information and mindset.

Like all the information that was provided Re: subprime, reverse, FHA mortgage, escrow, points, settlement costs etc.
This is good stuff to know, if applied it can work.

19 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars
Profile Image for Lori Bell
  • Lori Bell
  • 11-09-19

For 1st time home buyers

Thank you, Thomas Herold, for writing this much-needed book which really delivers on its promises! As a former underwriter, I can appreciate the enormous value this book brings to the industry because I know first-hand the importance of a well-prepared submission package and the consequences of a poorly prepared one. The book is clear, concise and to-the-point. These chapters don't contain any mistake. Everything contained is there for a reason and very well organized so you can find it easily when you need to reference back to it later. And if you want to do well, you will want to reference back over and over again as you prepare your submissions. Everything you need to improve your odds and submit a complete and thorough package is explained, including clear examples to illustrate. The reasoning behind each concept is well explained so the paperwork and the ratios and underwriting decisions all make sense if you are new. There is as much information in this book as I received in a 6-month intensive commercial training program at the bank I used to work for. I think this book should be considered The Essential Audiobook for every beginning commercial loan agent, and I now recommend it to everyone who joins my team. It's the best training manual I have found, and it should be kept nearby where it's ready to be grabbed frequently. This isn't a book you'll want to loan to a friend. This is the kind you tell them to get their own copy and expect it to be very dog-eared.

18 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars
Profile Image for Rosella Duran
  • Rosella Duran
  • 11-09-19

You don’t get this kind of quality everyday!!!

I would recommend this book to anyone buying property, considering entering the escrow profession, or anyone interested in the investment aspect of real estate. I am now a real estate professional and am grateful for Sandy's book. I know the book helped me and I have recommended it to many of my friends and colleagues.

17 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars
Profile Image for Betty  Lope
  • Betty Lope
  • 11-09-19

Very valueable book !

Herold has an amazing way to highlight how the reverse mortgage should no longer be considered the loan of last resort. Anyone who is interested to learn how a HECM can be used to increase overall wealth, improve and extend retirement savings should definitely listen this book. It's fact based. It's responsible. And it proves why a person should utilize home equity as a powerful financial tool.

16 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars
Profile Image for Raymond
  • Raymond
  • 11-09-19

Englighting so far

This book presents both academic definitions and descriptions along with real-world commentary on practices and procedures. The author has taken care to update the info within the context of new legislation affecting the industry. Highly recommended...

15 people found this helpful