I have to say that I had mixed emotions on this book. I appreciated the well researched, well thought out approach to monitoring my own mortgage. At the same time, I was frustrated that the appendices he mentioned in the book were nowhere to be found on his website. This had been an oversight and it was soon corrected. The information was valuable and I would say it boils down to: don’t let the loan companies decide when it is right for you to refinance. YOU need to take an active part in watching how things are going. When rates have dropped, take a look at the option that costs you nothing. If it lowers your rate, great! If it doesn’t, hold off. Continue to pay the same amount as you did when you began paying for your mortgage and you will considerably reduce long term cost.
The book came to me at a very inopportune time. I had just refinanced. A perfect time to hear about all the things that I may have done wrong. I didn’t do too bad. I could have picked a different option, but such is life. I know to continue paying a higher amount and will reduce the length of the loan. A valuable resource I found is http://www.vertex42.com/Calculators/home-mortgage-calculator.html. This is a great, free, resource to see how much your mortgage will cost. Keep up with it and you will use the info in this book in a tangible way.
Disclosure of Material Connection: I received this book free from Thomas Nelson Publishers as part of their BookSneeze.com
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