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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 listeners say about Mortgage Terms: Financial Education Is Your Best Investment

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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

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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

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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

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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

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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

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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

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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

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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).

17 people found this helpful

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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

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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

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  • Adam James Pearce
  • 12-27-20

Computer generated voice is hard to listen.

The content is probably good, however the American computer generated voice us annoying and hard to understand at times.

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    4 out of 5 stars
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  • Bonnie Sutton
  • 05-16-20

Property Rental Purchase

One thing that I thought was great about the book was that the author provided examples of price ranges. Yes...we could all get everything we want if cost was not a factor. But it is good to understand what things may cost so we can determine affordability. For example, knowing how much power is generated from solar makes you start to realize that you may have to pick and choose what appliances and gadgets you will be able to run if you need to stay within a certain price range. Otherwise, you will do without until the sun comes back out!! Haha

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  • Sylvia Livingston
  • 05-14-20

Worth its weight in gold.

As a lender I found this book to be well worth reading. The Escrow, points, and settlement costs section is over my head. I have a lot to learn! The book should be read by everyone in commercial lending.

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  • Sean Baker
  • 11-11-19

Simply the best

Specifically Short and sweet and to the point! I am going to look at my finances and see where I can spend less. This makes me want to be more disciplined and pay off my mortgage!

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    4 out of 5 stars
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  • Frank
  • 11-11-19

I will be financially free

The book was long enough to give you the the meat of the matter, no fluff or filler (which I appreciate). Pleased to listen, easy to understand, and short enough points to easily absorb info. I put this book on speech to text and finished in about 4 days. Overall great understanding!

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  • Richard
  • 11-11-19

Simplifies the concepts

I love information that gets right to the point and doesn’t beat around the bush. It also has a summary at the end that can be used as a checklist.

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  • Marcela
  • 11-11-19

Is it really a diamond

The book was very straightforward and easy to follow, unlike some other financial advice books. The idea itself is just plain clever. I can’t wait to get home and give it a try!!

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    4 out of 5 stars
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  • Walter
  • 11-11-19

There is hope for every single one of us!

The author offers sound advice for all stages of a mortgage, whether it be just contemplating home-buying, actually searching for properties, applying for a mortgage, refinancing your current one, etc. Although the process itself is daunting, the author assures listeners that it can be done having accomplished it himself. He doesn't deny it will be hard work, but with practical methods, it will be worth it in the end.