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Home Buying For Dummies, 4th Edition by Eric Tyson MBA, Ray Brown

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Chapter 7

Mortgage Quandaries, Conundrums, and Paperwork

In This Chapter

Tackling typical mortgage problems

Handling lower-than-expected appraisals

Completing mortgage forms

Understanding and selecting a mortgage (the subject of Chapter 6) isn’t all that difficult a project after you cut through the jargon and know how to think about your overall financial situation and goals.

Unfortunately, when you apply for a mortgage, obstacles may get in your way. In this chapter, we show you how to conquer these irritating and sometimes not-so-trivial challenges. We also answer your queries about other perplexing (and, in some cases, desirable) alternatives you may have.

In the last section of this chapter, we explain how to complete those dreaded mortgage application forms.

Overcoming Common Mortgage Problems

Few things in life are more frustrating than not being able to have something you really want, especially if you perceive, rightly or wrongly, that most other people you know have it. If you want to buy a home and you can’t finance the purchase, odds are that your dream will have to be put on hold.

Remember.eps Don’t despair if obstacles stand in your way. You may have to exhibit a bit more patience than usual, but we’ve never met anyone who was determined to buy a home but wasn’t able to overcome credit or other problems. This chapter shows you how to get the financing you need and deserve!

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