ABOUT THE AUTHOR

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Fatima graduated with a Bachelor's degree in Economics from ColumbiaUniversity and received a Masters in Economics from Singapore NationalUniversity. Fatima comes from a political background, her father Mir MurtazaBhutto - an elected member of Pakistan's parliament - was assassinated bystate police in 1996. His sister, Benazir Bhutto, was Prime Minister at thetime of his killing. Fatima is the author of two books, understanding thefinancial system published when she was 15 years old and basics of debtmanagement. Both were published by Oxford University Press.Fatima currently writes a weekly column for Pakistan's largest Urdudaily newspaper, Daily Jang, and its English sister paper, The NewsInternational. Recently She has completed her MBA in Finance from HarvardUniversity in 2006. Her diary from Tehran is the second the papersprinted; Fatima also wrote a weekly diary from Lebanon .

No Closing Cost Mortgage Advertising Is ALie!FATIMA BHUTTONo Closing Cost and Flat Fee mortgageadvertising in a word is a rip-off. So muchso that California regulators outlawed theuse of the phase in all mortgageadvertising in their state. All statemortgage regulators should immediatelyadopted the same restriction if theytruely want to protect mortgageconsumers.Until then, the rest of the country is fairgame. That means you! Read thiscarefully and learn to protect yourself. Notdoing so can cost you $20,000, $50,000or even $100,000 over your mortgagepaying lifetime.

Let's get started...Living in Denver where this advertising isstill legal, everytime I turn on the TV orthe radio, I see or hear a mortgage adtouting a $395 Flat Fee loan or a No Costloan. Of course we've all seen the Ditechcable TV commercials non-stop over thelast 5 years stuffing the $395 Flat Feeloan down our throats. This is a primeexample of a deceptive ad. But the onethat really chaps my hide, is the LenoxFinancial radio spots for No Cost loansthat says,"Come in with a $300,000 loan, and youcan leave with a $300,000 loan. We makeplenty of money. We don't need to chargeyou any fees. Don't be fooled by thosepredators who want to take your money.