Real Estate & Investing

A clear look at how to capture investment profits during difficult financial times

The U.S. economy has become crippled by the credit and real estate catastrophe. Even though we’ve all been affected by the calamity and have heard no shortage of news about it, it still seems unfathomable and utterly incomprehensible to most people that the actions of certain mortgage brokers, bankers, ratings agencies, and investment banks could break the economic engine of the world.

Now, for the first time, and in terms everyone can grasp, noted analysts and value investing experts Whitney Tilson and Glenn Tongue explain not only how it happened, but shows that the tsunami of credit problems isn’t over. The second wave has yet to come. But if you know catastrophe is looming, you can sidestep the train wreck-and even profit. You just need to understand how bad times present opportunity and where to look. More Mortgage Meltdown can help you achieve this goal. The book

• Breaks down the complex mortgage products and rocket-science securities Wall Street created
• Addresses how to find investment opportunities within the rubble and position your portfolio to take advantage of the crisis
• Explains exactly how the combination of aggressive lending, government missteps, and Wall Street trading practices created the perfect economic storm
• Shows you why the crisis is not yet over and what we can expect going forward

More Mortgage Meltdown can help you understand the events that have unfolded, and put you in a better position to profit from the opportunities that arise during these tough financial times.

“His short, snappy and surprisingly far-reaching book on the subprime crisis is as interesting and indispensable as you would expect.” –Clive Cook, Financial Times, September 8th, 2008

“In the aftermath, Shiller’s recommendation to policy-makers is “Mend it, Don’t End It.” –Kevin G. Hall, The Modesto Bee, August 22nd, 2008

“Is this a wise bail-out? The best statement I have read on this question comes from Professor Robert Shiller of Yale University in his fascinating new book on the housing bubble.” –Martin Wolf, Financial Times, September 9th 2008

“Robert Shiller is financial forecasting’s dean of doom. But he has ideas for fixing markets too.” –Justin Fox, Time Magazine, September 15th, 2008

“Robert Shiller is someone who should be taken seriously.” –Andrew Leonard, Slate.com

“What sets Shiller apart–brilliantly apart–from other analysts of the housing bubble are the sharpness of his diagnoses and the creativity of his solutions. These are the core of his excellent new book, The Subprime Solution: How Today’s Global Financial Crisis Happened and What to Do About It.” –Arvind Subramanian, Forbes.com, September 15th 2008

“Why listen to Shiller at all? He remains a rare breed — an academic who has transformed economic theory into useful real world solutions. As a renowned professor of economics at Yale University, he remains the expert on U.S. housing markets.” –John Fout, The Street.com, August 20th, 2008

From Publishers Weekly
As I write in February 2009, I am four months past due on my mortgage and bracing for foreclosure proceedings to begin. Thus begins this cautionary and critical examination of the housing crisis, a story that turned personal when New York Times economics reporter Andrews got caught up in the housing bubble after falling in love with a woman and a house. Bringing in $120,000 a year in salary—most of which went to child support and alimony to his ex-wife, Andrews says he was able to get a don’t ask, don’t tell mortgage with the assumption that his new wife, Patty, would be able to get a job to keep them afloat, an expectation that didn’t work out as planned. Because of his economics journalism background, Andrews says he should have avoided the mortgage catastrophe, and he castigates himself as well as fellow borrowers, the financial industry that took advantage of them and a government that didn’t put the brakes on the crisis that many economists warned about but that Alan Greenspan, the Bush administration and others ignored. This deeply personal exposé is timely and sobering in its candor. (June)
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

A fascinating meditation on the experience of the crisis from the point of view of those facing foreclosure. (David Warsh – Economic Principals )

Andrews uses his travails as a prism for viewing the forces behind the bubble. . . . Step by step, he investigates the institutions that gave him the rope with which to hang himself.
(James Pressley – Bloomberg )

Andrews’s autopsy on his mortgage and the conditions that helped produce it is sharp and at times mordantly funny. (Tom Vanderbilt – The New York Times Book Review )

Provides important information on the recent mortgage debacle and the hazards of consumer debt. A must-read… (Mary Whaley – Booklist )

“Fun-to-read…. Deciphers mortgage mumbo-jumbo.” —San Jose Mercury News

“A favorite…. Fun reading and informative.” —Minneapolis Star Tribune

“Objective, down-to-earth…. A book I wish I’d read before purchasing my first lemon-of-a-home.” —Wilmington News Journal

For many of us, the single biggest financial transaction is buying a house. Even more significant than the hefty down payment we fork over is the 15- to 30-year mortgage that needs feeding every month. If you have this much at stake, a little knowledge can go a long way, which is where Eric Tyson and Ray Brown come in. In Mortgages for Dummies, Tyson and Brown (who also wrote Home Buying for Dummies and House Selling for Dummies) provide a comprehensive introduction for anyone who is contemplating a mortgage. The book tells you how to evaluate your creditworthiness, determine your borrowing power, and shop for a lender, as well as covering the various types of loans. The authors also devote a section to refinancing and discuss what you should consider when prepaying a loan. They include amortization and remaining-balance tables, and a useful glossary. Whether you’re a first-time home buyer or are just looking to refinance, you’ll find this a valuable, easy-to-use guide. –Harry C. Edwards –This text refers to an out of print or unavailable edition of this title.

There are many excellent “how to get a mortgage” books, but this one is vastly different, because it reveals the insider secrets even many mortgage professionals don’t know. Warren reveals what really goes on in the home-loan business to get mortgages approved, and dhow borrowers can avoid becoming victims of their lenders. On my scale of one to 10, this superb new book rates an off-the-chart 12. — Robert J. Bruss, Inman News, July 10, 2007

Carolyn Warren better get a bodyguard. Her new tell-all on the mortgage industry exposes so many of the lending industry’s favorite frauds, every loan officer from Seattle to Miami is going to be gunning for her! Mortgage Rip-Offs and Money Savers is like a map that guides you around the carefully camouflaged landmines laid by lenders. And it gives you simple, step-by-step directions for saving tens of thousands of dollars. If you’re looking for ways to save a king’s ransom on your mortgage and monthly payments, you simply must read this book. — Clayton Makepeace, founder and president, The Profit Center Topics include:
* Why calling around for the best interest rate is a BAD idea (and what to do instead).
* How to force lenders to disclose their hidden fees.
* The Dirty Dozen: Junk fees You should not pay.
* How to get the lowest possible rate.
* Uncover the best-kept secret of the mortgage industry.
* Avoid the five most common unpleasant closing surprises.
* Turning a denied loan into an approved loan.
* and much more.