Kevin Melody spells out trade secrets of the mortgage industry from an insider's perspective, with frank honesty and in plain English. He shows how most borrowers shop for mortgages like they shop for cars: they find the product they want, at a price they believe is fair, then they strike a deal. Unfortunately, unlike a car purchase, a mortgage transaction will not close on the day the "deal" is made. Therefore, unless the borrower is sophisticated enough to know how to make it stick, he really has no deal at all. He has committed himself to the lender, but the commitment may not be mutual. In fact, the rates, costs, even the product itself may change later; at a time when the borrower has, not only an emotional stake in proceeding with the transaction, but also a financial one; and is therefore unlikely to cancel. Whether you're a first-time buyer, or a property owner with many mortgage transactions under his belt, you will save time, money, and frustration by reading this book.