Mortgages 101
David Reed
AMACOM
$16.95

For clients who just can't resist buying a second or third vacation home—and can still get a line of credit—this book may offer valuable info. Clients who read this second-edition paperback may not have any questions for you afterward, since Reed, a mortgage broker with 20 years of experience, has assembled a myriad of mortgage tidbits in an accessible format. His lucid explanations translate confusing mortgage-industry jargon into plain English for the nonfinancial reader.

The book is deceptively intelligent. Though it has the annoying trappings of the simplistic how-to genre, Reed nevertheless delivers real substance, along with nuances he mastered while closing 1,000 loans. With a no-nonsense tone, Reed tells us how to lock in the best rates, explicates the mysteries of escrow, suggests ways to streamline closings, takes us step-by-step through closing documents and plumbs the dynamics between lenders and mortgage brokers. Despite the credit crunch, the book is not out of date. So if you can't talk your clients out of that chalet in Aspen, give them a copy to read on the plane. And tell them to fly coach.