mortgage-banking

Pretty much everything that was said in this book was in my first choice (Invest in Yourself: Six Secrets to a Rich Life). If I would have known the book as going to be more than 80% tables, I would have never ordered it. Most of the information contained in this book can easily be found on the web. Needless to say, I was very disappointed with this book. I guess that's what happens when you buy online as opposed to in a bookstore. I could have flipped through this book in 20 or 30 seconds and realized that most of the pages were tables that needed more detail. What I found funny is that I received this book 2 whole days before I received my first choice and that's because my first choice supposedly was shipped before my second choice.

Here is what this book says. Paying your mortgage off faster than your payment schedule will save you tens of thousands of dollars. True, but what is the time value of that money you spent on your mortgage? Could you have "made" more in the stock market or somewhere else?

Yet the author belabors the point ad nauseam, giving examples about how much you can save paying a little more per month.

Basically, he does not give the full story. When you pay off your loan early, you are also paying a net higher interest rate. Scim this book at the bookstore. The best secret is not buying this book!

This book provides excellent advice on what were until now--to many--secrets of the financial industry.

Just a note on a previous review: many banks say they will NOT accept prepayment. I know of a way that every bank approves up, that saves homeowners thousands in unnecessary interest and cuts years from their mortgage. I'll gladly call or email anyone who sends an email on this subject.