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Homebuyers Beware: Who’s Ripping You Off Now?—What You Must Know About the New Rules of Mortgage and Credit by Carolyn Warren

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Introduction: New Rip-Offs

The loan shark who bragged about making $40,000 in commissions off of one homeowner contacted me again. Last time we met, we enjoyed filet mignon at an upscale restaurant, Daniel’s Broiler, overlooking Lake Washington, and he divulged to me his secret for overpricing loans, which I revealed to the world in Mortgage Rip-Offs and Money Savers. What would he have to say to me now? I wondered if he’d be angry.

I couldn’t help but shudder at the sound of his voice over the phone, and yet, I couldn’t resist the invitation to meet with him again. I just had to know how his “story” ended. Had he reached his goal of retiring rich while still a young man?

He suggested we get together at Starbucks, quite a step down from the ...

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