In Real Estate knowledge is power. Information in this Series are the principles of mortgage lending and foundation of Real Estate Financing. This knowledge is the essential building block to understanding Real Estate Financing.

Mortgages vs. Trust Deeds

California is a title theory state, which means you really don’t own your property - you have “equitable interest.” Did you know that in California, there are virtually NO mortgages? Why do we use Deeds of Trust to lend?

Credit Reports and Credit Scoring

Does credit affect ability to purchase or refinance? This section explains how to read a credit report, who to contact to repair an error, and credit scores needed for purchase, refinance, consolidation, construction and loan amounts.

Title and Escrow

What is the difference between a title company and escrow company? What does a title company and Escrow Offier do? What are reasonable fees and what are junk fees? Who chooses Title and who does a policy protect?

Loan Disclosures

 Mortgage companies are required by both Federal and State Law to provide each borrower 14 loan disclosures within three business days of any loan application. What are these forms and what do they mean to you? Is the lender accountable?

Sample Closing Docs

 How in the world does this 2” stack of papers obligate you and what does each document mean? Where is the important stuff such as prepayment penalties and other important clauses. How much interest and closing costs are you REALLY paying?

The Mortgage Process

 What documents to supply and why each is important. If you sign an application, are you obligated to pay fees? Why does it take weeks or months to process and get approved, and then why does it take so long to fund?

Loan Programs & Types

 Mortgage brokers, lenders and banks everywhere in the United States have the same programs. There are approximately 500 rates and programs and even a 30 year fixed has at least 3 rate options. What is an ARM and how do I use them effectively?

History of Mortgage Lending

 The mortgage industry is only about 30 years old. Why are there so many mortgage companies? Who are the REAL lenders? Should you use a mortgage broker, bank or lender? How does it effect closing costs, rate or payment? Where are the rates going?

Federal Compliance

 Know your rights as a consumer. Where do you turn if you have concerns? Who does a consumer report a violation? What practices are considered legally ethical? Learn the requirements for advertisements. The licensing requirements for loan officers.

Glossary of Terms

This section teaches you the lingo that mortgage companies use so you can communicate effectively with knowledge and understanding.

Take control! Who are you going to trust to get your mortgage? Many loan officers have bad credit and do not own Real Estate, and the average processor has between 6-18 months experience. People in the mortgage industry learn how to do your loan on the job NOT in school.

This Series includes © Mortgage 101 and provides facts about your options and guides you to an optimized debt portfolio. It teaches you how to use your rights and learn how to negotiate the best deal available and protect yourself. Save hundreds if not thousands the very next time you purchase or refinance.

Closing Costs

When should you pay costs or get a no cost loan? What closing costs are tax deductible? What costs are negotiable? What truly are “junk” fees and what is legitimate? What application fees are negotiable, and who really pays for the appraisal? Learn how to negotiate lower rates and costs to save up front and long-term.

2 Reasons to Own Property

 If your mortgage payment is going to be the same or higher than rent, why shouldn’t you simply rent? There are only two reasons to own property: 1) passive, non-taxable income (you don’t have to work for the market to appreciate and capital gains can be deferred); and 2) tax benefits. This section will show you mathematically how you make money.

2 Things to Consider When Shopping for a Mortgage

 There are only two things to consider when shopping for a mortgage: 1) how much will the loan cost; and 2) what will your payments be? What are the benefits for an interest only payment? What is an APR and how does it affect me? What are the maximum prepayment penalties and where is it hiding?

3 Factors to Approve All Loans

 All loans are approved or underwritten based on only three factors: 1) ability to repay the debt (credit and income); 2) cash reserve requirements; and 3) the property as collateral. This section breaks down the loan package used to approve or disapprove your loan from Summary to Application to Supporting docs.

4 Processing Methods

 There are only 4 methods all mortgage companies use to process your loan with few variations of each. This section teaches you the power of disclosure and non-disclosure. Sometimes NOT providing income documentation can get you a higher loan amount. When can a no doc loan be the same rate as a full doc loan?

6 Criteria You Must Know About Your Loan

 Inside the 3 factors to approve all borrowers of the loan application are six criteria or facts that place the loan into a secondary market, which determines rate, loan to value and processing method. This section illustrates how to convey: 1) loan use; 2) doc type; 3) property type; 4) property usage; 5) borrower profile; and 6) LTV and CLTV (combined loan-to-value).

16 Questions to Ask and Not to Ask

 Finding a mortgage broker is not easy and many have built their business on deception. This section equips you with the tools to determine when you are being told the truth and what you can and cannot trust. For example: NEVER ask, “what is today’s rate?” This is the best way to be mislead. We will show you how to build a relationship with the mortgage company that is built on truth.

Choosing a Program and Cost Structure

 Mortgage companies won’t tell you about all the programs and options inside a program. All programs are available a) without costs, b) with costs, and c) with costs and points. How do you choose the right one? Determining the right program and structure is simple, and this section teaches you how.

Deceptive Marketing

 Even if you lived on a remote island, mortgage companies would find a way to market you. Electronic Mail; Snail Mail; Billboards; Radio; Display ads – are just some of the media used, and it’s a numbers game – all they want is for you to call. This section shows the good ones from the bad, demonstrates how everyone is susceptible to false ads and how you can use them to your advantage.

As seen at Robert Kiyosaki's Rich Dad, Poor Dad Real Estate Investor Workshop, Rich Rifkin reveals genuine information how investors can obtain ALL THE MONEY YOU WANT FROM YOUR MORTGAGE COMPANY by teaching practical and advanced rules of lending.

This is a comprehensive Series that includes © Mortgage 101 and © Consumer Mortgage Information and is for people who own 2 or more properties and wish to achieve financial freedom in years to come from Investing in Real Estate. You are NOT in control of your Real Estate destiny unless you know the ins-and-outs of mortgage lending.

This section is dedicated to individuals who wish to put (other people’s) money where YOUR mouth is – in Real Estate. There are many “get rich in Real Estate” books, tapes, videos and seminars available to consumers, and you’ve probably discovered they motivate but fail to show you how to get the money and the paperwork required for the financing.

Obstacles

 Henry Ford once said, “obstacles are those things you say only when you lose sight of your goals. There is nothing to fear in being a Real Estate Investor, only factors to mitigate.

Locating the Money

 All Mortgage Companies have the same programs but not all mortgage companies are equal in experience. If you know the rules there are unlimited financial resources. What programs are available and what is the criteria for 100% financing?

Structuring the Deal

 This section teaches you how to structure the financing and contract contingencies. It teaches you how to negotiate the best deal and mitigate exposure. Pros and cons of paying mortgage insurance vs. getting a 2nd or HELOC (line of credit).

Underwriting Guidelines Revealed

 There is a loan for almost everyone in every situation if you know the guidelines. This section ties together knowledge from Series 1 and 2 then helps you apply practical applications.

Optimizing Your Debt Portfolio

 Your Real Estate portfolio may contain a lot of property but is the debt optimized? Your debt portfolio will make the difference between having and not having buying power as well as increasing cash flow.

Hedging: Maximizing Leverage

 If you can pay cash then why finance? What are the maximum loan-to-values for every kind of purchase and refinance? What are your cash-out limitations? This section explains the pros and cons of Real Estate financing.

Residential and Commercial Financing

 This section educates you on the differences between financing Commercial vs. Residential Property. There are advantages to diversification but you must be prepared for the differences.

Financial Resources

 There are conventional, government and private monies available. This section helps you determine the best avenue for your particular needs.

Owning Multiple Properties

 This section defines the different mentalities of being a buyer, owner and seller of property. We will help you define goals and determine exit strategies.

Investment Opportunities

 This section shows you step by step how to take advantage of an investment opportunity. You should go into each deal with a) financing in place and b) pro forma illustrated. We teach how this is done so you can maximize profits.

Mathematics

 This section reveals the basic mathematics and genuine techniques Real Estate Investors use going into and coming out of property. Rich has also bundled The Loan Calculator ]tm] and Components [tm] (sold by SKSI.com for $449) with this Series.