How to Have a Stress Free Mortgage: Insider Tips From a Certified Mortgage Broker to Help Save You Time, Money, and Frustration

By Linda Fleischmann

How to Have a Stress Free Mortgage is your resource to getting a loan in today’s market. It will guide you through the traps to avoid before you start house hunting or begin to consider a refinance. Forget about what you may have heard by “supposed” experts; Linda Fleischmann is an active Mortgage Broker and she is in the trenches closing loans. After more than 13 years, Linda knows what to do to get you a loan. Use "How to Have a Stress Free Mortgage" as source for getting a mortgage loan today! Here are just a few things that you will learn: What type of loan should you choose? How much do you need to save for a down payment…is it really 20%? When can you buy again if you’ve had a foreclosure or short sale? Can you have too much credit? Should you co sign for a car loan? What you don’t know can hurt you and more importantly, might stop you from getting into your dream home. If just thinking about applying for a mortgage loan makes you queasy or stressed, then you need to read "How to Have a Stress Free Mortgage" today. Knowing up front what to do BEFORE you apply is critical to getting your loan approved. "How to Have a Stress Free Mortgage" will take you through all of the steps of the loan process so you will understand what is happening, why it’s happening and make you stress free from start to finish.

• Language: English
• Publisher: Open Road Integrated Media
• Release date: Mar 1, 2013
• ISBN: 9781614482697

Book preview

TESTIMONIALS

My name is Glenn Morshower. I have been a professional actor for thirty-eight years, and have been blessed to work with many of the industry's best. I also travel extensively as a motivational speaker. My program, The Extra Mile, teaches people how to live a fully expressed life, by simply listening to, and obeying their inner whisper. This program has provided me with a sense of unparalleled satisfaction for many years.

When my friend and fellow speaker, Craig Duswalt, gave me Linda Fleischmann's book How to Have a Stress Free Mortgage, I felt better informed about what people need to do before they decide to buy. I became aware of so many things that I never knew were important, such as:

1. What credit scores really mean, and how they affect our interest rates.

2. Why we may want to think twice before co-signing a relative's car, or home loan.

Linda is the front runner in her field. She has broken down the components of the mortgage process from beginning to end in a simple and understandable way.

I highly recommend that anyone thinking about buying a home, or needing to refinance their existing home, read How to Have a Stress Free Mortgage. If you want to have that stress free experience that few people are able to have when getting a home loan, be sure to read Linda Fleischmann's book first.

-Glenn Morshower, Professional Actor

A large part of the Broughton Hotels success and acquisition model is studying new markets, evaluating individual properties, assessing their potential worth, and determining if the acquisition will add value to our growing portfolio. This same principle applies to the aspiring homeowner. Understanding how to get a mortgage loan and then actually securing one in today's complicated market is complicated and stressful. Linda's book, How to Have a Stress Free Mortgage, is the ideal GPS device to navigate the mine fields associated with the home mortgage and lending process. Linda's easy to understand, step-by-step book (I call it a battle plan) moves the dream of home ownership from fantasy to reality."

-Larry Broughton, Founder & CEO,

broughtonHOTELS.com, BROUGHTONadvisory.com,

NaVOBA's Entrepreneur of the Year, Ernst & Young's

Entrepreneur of the Year, Former Special Forces Operator

(the Green Berets).

HOW TO HAVE A

STRESS

FREE

MORTGAGE

Insider Tips

From a Certified Mortgage Broker to Help Save You

Time, Money, and Frustration

LINDA FLEISCHMANN

www.stressfreemortgage.com

How to Have a Stress Free Mortgage

Insider Tips From a Certified Mortgage Broker to Help Save You

Time, Money, and Frustration

© 2012 Linda Fleischmann. All rights reserved.

No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system without written permission of the publisher.

Printed in the United States of America

Fleischmann, Linda

How to Have a Stress Free Mortgage, by Linda Fleischmann

ISBN 9781614482680 (paperback)

ISBN 9781614482697 (eBook)

Library of Congress Control Number: 2 012935390

To order, please call 661-295-0555 or

www.stressfreemortgage.com

[e-mail]

Cover design by Dawn Teagarden

Photos by R&R Photography

Disclaimer: The purpose of this book is to educate and provide general information regarding mortgages and loans. The author or publisher does not guarantee that anyone following these suggestions or guidelines will have a stress free mortgage experience. The author or publisher shall have neither liability nor responsibility to anyone with respect to any loss or damage caused, or alleged to be caused, directly or indirectly by the information contained in this book.

Morgan James Publishing

The Entrepreneurial Publisher

5 Penn Plaza, 23rd Floor, New York City, New York 10001

[phone] office • [phone] fax

www.MorganJamesPublishing.com

In an effort to support local communities, raise awareness and funds, Morgan James Publishing donates a percentage of all book sales for the life of each book to Habitat for Humanity Peninsula and Greater Williamsburg.

To Mark, my love and partner in life.

Without you, I would never have accomplished all that I have done.

Thanks for always supporting me and giving me advice that in the

end is always the right choice. You are my inspiration, and you make

me a better person. Together, anything is possible.

To Lexie and Michael. You are both my joy in life.

You are wonderful kids and turning into amazing adults and I am so

proud of both of you.

To my dad who always supported me and believed in me…

I know that you are watching over me now and smiling.

To my mom who doesn't always understand me or my life

and what I do, but who is always there to listen.

To my realtors that help me work with our buyers and realize their

dreams, you are all special.

To all the clients that I have helped in the past and all the

clients in the future, this is for you.

ABOUT THE AUTHOR

Linda Fleischmann started in the mortgage industry in 1999 when she opened a mortgage company in Southern California. Linda has helped thousands of clients both purchase their homes and refinance their home loans.

Linda's journey in the banking industry began in 1985 when she was employed as a part time bank teller by California Federal Bank. In 1992, she was promoted to Branch Manager, a position she held until she left the company in 1998. Learning the ins and outs of the mortgage business at WMC Mortgage, formerly Weyerhaeuser Mortgage, Linda then opened Loan Connectors, a company whose excellent reputation was supported by its referral based client list. In 2011, Linda closed Loan Connectors in order to open Stress Free Mortgage and focus on her clients and educating the public about the mortgage industry.

No one is more passionate about loans than Linda Fleischmann. She will do whatever it takes to achieve customer satisfaction even if it means telling someone NOT to do a loan. Her honesty and knowledge of the loan and mortgage business has led her to maintain success even during trying economic times. She is an active member of various prestigious organizations in her hometown of Santa Clarita, California, including the Santa Clarita Chamber of Commerce, Women Entrepreneurs of the Santa Clarita Valley, and Valencia Business Associates. She is a Certified Mortgage Consultant with the National Association of Mortgage Brokers, and is also affiliated with the California Association of Mortgage Professionals. Linda has spoken on numerous radio stations and has given seminars for first time buyers.

Linda and her husband Mark live in Southern California with their two children, Lexie and Michael and their dog, Sadie.

CONTENTS

Introduction

1   My Story

 Figuring It Out and Closing Loans

2   Before Deciding to Take the Big Step!

 Income

 Self-employed and Others with Deductions

 Co-signing Loans

 Divorce

3   Credit Dos and Don'ts

 Credit and FICO scores

 Revolving Credit

 Myths and Facts

 Foreclosure, Bankruptcy and Short Sales

 Old vs. New Credit

 The Rest of It

4   What to Expect

5   Application Process

 Banker, Broker, or Internet?

 Your Loan Officer

 What You Will Need

6   Which Loan is Right for Me?