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| Mind Your Own Mortgage: The Wise Homeowner's Guide to Choosing, Managing, and Paying Off Your Mortgage |  | Author: Robert J. Bernabe
Publisher: Thomas Nelson
Category: Book
List Price: $14.99
Buy New: $7.50
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Seller: BookmanGee
Rating:  48 reviews
Sales Rank: 60,349
Media: Paperback
Pages: 320
Number Of Items: 1
Shipping Weight (lbs): 0.4
Dimensions (in): 8 x 5.4 x 1
ISBN: 1595550887
Dewey Decimal Number: 332.720973
EAN: 9781595550880
ASIN: 1595550887
Publication Date: May 4, 2010
Availability: Usually ships in 1-2 business days
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Product Description
This Is the Book Lenders DON'T Want You to Read. EMPOWERING HOMEOWNERS TO SHOP, MANAGE, AND ELIMINATE MORTGAGE DEBT A mortgage is simply a pile of money. So why the complexity? Because the mortgage industry makes it that way. And the industry enslaves homeowners to mortgage debt. Mind Your Own Mortgage changes the game by revealing inside information previously used against you. Now you are in charge: - Shop with confidence-an exclusive, automated system helps you find the best price-it's as easy as buying a gallon of gas
- Identify slick sales gimmicks and lender manipulation
- Refinance only when it make sense for you-not for the mortgage company
- Eliminate your mortgage in record time-so your retirement years include retirement
AVOID HOUSING MELTDOWN #2 Despite the collapse, today's system invites you to make the same mistakes all over again. Steer clear-only a sound mortgage will build a strong household economy. And a strong household economy is good for America, too. Stocked with compelling real-life scenarios, budgeting tips, and powerful financial tools, Mind Your Own Mortgage is a timely wake-up call for homeowners and a candid decree that the American dream is still possible-if we dramatically rethink the way we finance our homes. IT'S TIME FOR A CHANGE. IT'S TIME TO MIND YOUR OWN MORTGAGE. "Whether you're getting a new mortgage, refinancing an old one, or dealing with the mortgage you have already, you won't find a better mortgage coach than my friend, Rob Bernabe." -Mary Hunt, personal finance expert, best-selling author, and CEO of Debt-Proof Living "Finally, consumers have what they need to hold any mortgage provider accountable." ―R. Jarret Lilien, founder and managing partner of Bendigo Partners and former president and COO of E*Trade Financial
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| Customer Reviews:
Showing reviews 1-5 of 48
 a whole new outlook.. May 5, 2010
Deanna Runyen (CLINTON, IL, US)
2 out of 2 found this review helpful
I chose the book Mind your own Mortgage by Robert J. Bernabe. This book has three sections: choosing, managing, and paying off your mortgage. Most books of this type were written years ago and dont fit into the economy today. This one does!! It breaks each section down into mini sections and talks in detail about each step. It talks you through the mortgage process. At the end of the book you feel completely confident that you can find the best mortgage for you and pay it off with little stress or strain on your other finances. This book was VERY insightful for me. I learned so much about mortgages that i didnt know before i read this book. It also helped me to see things from a different perspective and save some money on my mortgage. This is a good book for anyone with a mortgage but ecspecially the first time home buyers only because it points out what to look for and how to manage the mortgage.
I would highly recommend this book to anyone wishing to become more financially free. And anyone who wants to understand their mortgage better.
An Excellent Guide to Mortgage Management May 7, 2010
Gregory R. Foxx
1 out of 1 found this review helpful
"To anyone across America who recognizes their mortgage can make or break their financial dreams--and those who don't. This book was written expressly for you." Robert J. Bernabe
If you enjoyed Thomas Stanley and William Danko's The Millionaire Next Door or any other personal finance book that stresses living debt free as the preferred method for financial success, you'll enjoy Bernabe's Mind Your Own Mortgage. This work was motivated by the recent financial meltdown that resulted in and from depressed real estate markets nationwide. As a former lending professional, Bernabe attempts to provide a straightforward guide to the mortgage industry for today's mortgage customer. Bernabe makes the case that mortgages constitute the largest portion of debt that individuals hold, and he attempts to change the mindset that mortgage debt is somehow good or acceptable by asserting that mortgages often become traps that result in a lifetime of debt. I particularly like his "Give, Save, Live" plan of giving 10 percent, saving 10 percent, and living off of 80 percent of what you make.
Bernabe makes three key points: a mortgage should be treated like a commodity, refinance only to lower the total cost of a mortgage, and manage a mortgage to achieve early pay-off. Thinking of mortgages like commodities, Bernabe recommends a strategy for evaluating rate, points, lender fees, and third-party fees of mortgages to evaluate the actual cost of mortgages being considered. The objective is to avoid price manipulation that might be waged by a mortgage salesperson. Bernabe stresses that refinancing is a tool to lower the total cost of the mortgage; the point is made that refinancing to lower monthly payments is not always a good idea. Lastly, Bernabe asserts that mortgages must always be managed with the intent of paying them off as soon as possible.
Overall, the book is a good read and should prove helpful to anyone, "who recognizes their mortgage can make or break their financial dreams--and those who don't."
I received a complimentary copy of this book from Thomas Nelson Publishers.
I'm confident I won't be taken advantage of again! May 17, 2010
Ginger Clark
1 out of 1 found this review helpful
I was really excited to get this book as I love all things related to saving money, living frugally, and debt-free living. Mind Your Mortgage did not disappoint. If you ever plan to buy a house or refinance, you need this book. It's like a cheat sheet for getting the best loan and being confident that you aren't taken advantage of in the process. Ignorance is so dangerous when it comes to a mortgage. It's a terrible thing to not know what you're doing when it comes to the single biggest financial commitment in your life!
Through this book, I learned the difference between a mortgage lender and a mortgage broker (a difference that can save you thousands!), how to shop for the best loan (it's very simple to compare prices if you just know what to ask and are willing to take the time), and when it's a good deal to refinance (tip: you should never refinance just for a better payment). Reading about the very common mistakes borrowers make will both embarrass and educate you. With Mind Your Mortgage in hand, you can confidently buy a home, refinance your home, or pay off your home. I love this book!
I received this book to review from Thomas Nelson Publishers.
Clear cut, intelligent financial advice May 18, 2010
John Aram (LAKE FOREST, CA, US)
1 out of 1 found this review helpful
This is a fantastically well written book that provides intelligent, grounded advice not only for understanding your mortgage but also for living a more financially intelligent lifestyle. I am standing on the edge of shopping for a new mortgage and, as I have done several times before, I nearly stepped off that cliff without so much as a rope. This book has given me all the necessary equipment to go out and secure the best possible solution for my mortgage needs. Whats more, it made me re-evaluate my entire position on debt and financial management.
Everyone even thinking about home ownership should read this May 23, 2010
Milk Donor Mama
1 out of 1 found this review helpful
I received a copy of the book Mind Your Own Mortgage by Robert J. Bernabe to review from [...].
I actually read this entire book in a day. I've been reading a lot of personal finance books recently to see if there are any other good strategies or ideas out there that I haven't yet put into practice.
The first half of this book is an excellent resource and wealth of information on the financing of a home and how exactly a mortgage works. Where the money comes from, who has their hands in the matter, and all the different types of mortgage products are covered in detail.
Also presented by Bernabe is the philosophy that the sooner a mortgage is paid in full, the more freedom an individual has. Debt equals slavery. I especially appreciate how he discusses the fact that when most Americans choose these creative mortgage products or refinance into one, rather than taking on a traditional 30 year fixed loan, that most people are not saving any money at all. Rather, they are spending themselves into an even bigger hole and prolonging the date when their home will be paid off. Refinancing to "save" a few hundred each month most of the time results in people upgrading their lifestyles to an even greater extent- a luxury vehicle, vacations, electronics, clothes and other items and services, rather than investing or adding to personal savings or paying down existing debts.
There isn't much of anything in this book that I disagree with. In fact, whenever we've been able to, we've been aggressively paying down our mortgage just as Bernabe suggests people do. When the mortgage is paid off, we will have greater freedom in our lives to use our time in other ways than to pay for consumer goods. The last thing I want to do with my life is be working full time into my elderly years and have my husband do the same just because we lifed high off the hog in our young adult years. I'd rather have those years to enjoy on my porch, or in my garden, or chasing after my grandkids.
For people who think that a mortgage is "good debt", Bernabe suggests they think again. Debt is debt no matter what category of life it was for, and debt should be eliminated as swiftly as possible and avoided whenever possible. It's a life strategy of mine and I agree with it wholeheartedly.
Bernabe also suggests looking at the price of the home, not the payment of the home. Most people just concern themselves with what they can afford each month, not what the total cost of their home will be when it's all said and done. Just because a mortgage loan is taken out for $200k doesn't mean that what gets paid back is $200k. Most people seem to not realize this!
Another excellent suggestion made by the author is to give first (he calls it giving, not tithing, but indicates 10%) off the top (gross) earnings, then save 10% (again, off the top of gross earnings), then of the remaining 80%, comes taxes, and after that is the personal discretionary income for housing, transportation, food, education and so forth.
This book is a great reference and should be read by anyone who is even thinking about becoming a homeowner.
Disclosure of Material Connection: I received this book free from Thomas Nelson Publishers as part of their [...] book review bloggers program. I was not required to write a positive review. The opinions I have expressed are my own. I am disclosing this in accordance with the Federal Trade Commission's 16 CFR, Part 255 : "Guides Concerning the Use of Endorsements and Testimonials in Advertising."
Showing reviews 1-5 of 48
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