Most Homeowners think their most expensive purchase is their home, but theyre wrong! Their mortgage is their most expensive purchase.

Oliver Maldonado Mortgage consultant, industry leader and Author of The Mortgage Book" reveals how homeowners have been mislead & miss informed. A $125,000 home with an 8.50% interest rate will cost the homeowner $221,011.07 in interest alone!! The homeowner will pay $346,011.07 for a $125,000 home!

Denver, Co (PRWEB) December 31, 2003 --Oliver Maldonado Mortgage consultant, industry leader and Author of The Mortgage Book" which will be released to the general public early 2004 reveals how homeowners have been mislead & miss informed. Homeowners have been taught that the most important (Expensive) financial decision they will ever make would be buying their home right? WRONG! In reality their mortgage is the most important (Expensive) financial decision they will make, says Oliver Maldonado.
In actuality the average homeowner will pay almost double the cost of the home itself on the mortgage. Theyll do this on the interest payments on the mortgage. So the mortgage is the most important (Expensive) financial decision the average homeowner will make. Not the home.

A home that cost $125,000 with an 8.50% interest rate at the average term of 30 years (360 months) will cost the homeowner $221,011.07 in interest alone!! That means the homeowner will pay a total of $346,011.07 over the 30 year term!!

The Mortgage Book also covers most aspects of the mortgage industry. Oliver Maldonado says I wrote the mortgage book for consumers. Over the years, I have seen too many homeowners not know much about their mortgage who in many cases have been misinformed and mislead in believing things that hurt them. I wanted a way for consumers, homeowners and future homeowners to learn about mortgages, so they can educate themselves and be able to make educated decisions regarding their most expensive purchase. I wanted a resource so homeowners could learn everything there is regarding the interest rates and closing costs of their mortgage so they can put themselves in the best situation that is available for them and not the mortgage lender".

The Mortgage Book reveals a lot of information that has not been available to the general public. For instance it shows how interest rates are calculated by mortgage professionals and how they have control of what rate you receive along with the closing costs. Mortgage professionals may also get extra money from the lenders as a thank you for giving homeowners higher interest rates.

No book has ever revealed so much information to consumers regarding mortgages. The book explains how to get the lowest interest rates and closing costs possible. It also explains in an easy to understand format the differences between mortgages whether it be an FHA or Conventional mortgage. It's also revealed what it takes to qualify for a mortgage refinance or home purchase.

Now homeowners can protect themselves against the unscrupulous mortgage person. Ive been told by many mortgage professionals that I reveal too much information regarding the mortgage industry and how it could have an affect on the mortgage business. I strongly disagree with that, I believe that it will and should have a direct affect on the mortgage companies and mortgage people that take advantage of homeowners by misleading them. Those are the companies that should be worried about a book like this. Now a consumer can know when and if they are saying something that is false and know they should not do business with them. The good mortgage companies that look out for the best interest of their clients will benefit from this book. The mortgage book will serve as reassurance to the trustworthy mortgage companies and professionals. The good mortgage companies have nothing to hide or mislead consumers about, so its okay for homeowners to know how they make their money. Whats wrong about that? A good company will also lower interest rates and closing costs if they have to, in order to keep a client. I look at it as having a sale or matching the price of a competitor" said Oliver Maldonado, mortgage consultant and Author of The Mortgage Book.

If youd like more information about Oliver Maldonado and The Mortgage Book, you can visit his website at olivermaldonado.com which has additional information regarding other topics in the book as well, such as credit repair.

Included in The Mortgage Book is a $500.00 voucher you can use to lower the closing costs on your next home purchase or refinance done with the Author or one of his affiliates, although I believe it might not be available in all states yet.

For more information about Oliver Maldonado and The Mortgage Book, visit Oliver Maldonado on the Internet at www.olivermaldonado.com, or call 720-364-1884 for information on the branch in your area.
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