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| Secrets Banks and Lenders Don't Want You to Know/ Mortgage Free for Life! | 
 enlarge | Authors: Richard Weathington, Beth M. Ley, Ph.d.
Publisher: BL Publications
Category: Book
Buy New: $29.99
Buy New/Used/Collectible from $24.99
Avg. Customer Rating:  (12 reviews)
Sales Rank: 39712
Language: English (Published)
Media: Paperback
Pages: 224
Shipping Weight (lbs): 0.7
Dimensions (in): 8.2 x 5.3 x 0.6
ISBN: 1890766402
EAN: 9781890766405
ASIN: 1890766402
Publication Date: September 1, 2007
Availability: Usually ships in 1-2 business days
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| Editorial Reviews:
Product Description
YOU CAN pay off your typical 30-year mortgage in as little as 7-10 years! YOU CAN save thousand of dollars on your mortgage! YOU CAN accelerate your wealth building (building equity FAST), with simple strategies for real estate investing! YOU CAN lower your monthly payments AND begin building equity immediately! Warning: Are you making these major money mistakes? 6 Making minimal payments on your mortgage? * Depositing money into traditional bank account, where they make all the profit on the use of your stored money? * Making one extra payment a year or on a bi-weekly scheme, which only cuts a few years off a mortgage, but costs you more out of your budget? * Just making the minimum payment on all your credit card payments? * Focusing only on the monthly payments or interest rates alone? Jump ahead of the game now. Thousands of informed people are now discovering how to be living free and clear, who never thought they could.
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| Customer Reviews: Read 7 more reviews...
 Informercial have no veracity January 3, 2009
Invariably informercials are full of high expectations, good salesmanship; but, the product itself, is misleading and lacks the true information needed to resolve the issue, in this case, reducing and lowering mortgages; putting income back in your purse or pocket. The fact of the matter, if these concepts were true on how to reduce drastically what you pay in interest on a mortgage-which benefits Banks-how to pay principle more vs. interest, could have been detailed in 50 pages or less. The 100 page or more book was done because the principle issues are never solved. You keep reading and finding that you have been duped. The informercial did just what the banker and mortgage person did-dupe you. The people have to change the banking laws/rules that have home owners paying 15 years of a 30 yr.,fixed mortgage in interest. It should be more of a balance: 60/40 ratio; 60 percent of payment for principle; 40 per cent payment for interest. Presently, it favors Banks: we pay 95 per cent in interest for the first 15 years; then, 95 per cent in principle the last 15 years of the 30 year fixed loan. In my case, with a 200, 000 mortgage, I have paid out triple this cost. The book is a rip off; our banking system, sanctioned by congressional statue is ripping us of. What's new?
 Debt Free Plan December 16, 2008
3 out of 5 found this review helpful
Like other reviewers, I too was skeptical since I saw this book advertised on an infomercial. But the system does in fact work. Even if you live paycheck to paycheck you can pay off a 30 year loan in 25 (~5 years earlier). That being said, the author is a little missing leading in that to pay ones mortage off in 7-10 years you must contribute each month to paying down the principal on ones mortgage. If you can pay an extra $200 a month on a $200K mortgage you will pay off your 30 year fixed loan in about 15 years. If you can contribute $500 a month towards the principal then the payoff is ~10 years. Of course, an extra $500 a month is $6000 per year which is not a simple task for most family budgets. But if you think of the $100K-$150K in interest you will save then the extra $6K a year is definitely worth it.
As for the software, I order it and then returned it. Yes, it would be nice to be able to "maximize" the system by using the software but it not worth the price of $400. Basically, the higher you can tribute to paying of the principal per month (less your monthly expenses) the better off you will be. For example, if you can apply $1000 a month to principal above and beyond your living expenses, then a typical $200K loan can be paid off in ~7 years. The software would be helpful, but then again, the first step is to just spend the 3-5 minutes a month to make the system work. You can track your own outcome and will be able to "predict" the benefits soon enough without the software. Bottom line is the system works!!
At First Glance December 6, 2008
4 out of 6 found this review helpful
At first glance I bought into the idea to call and order the book. I did. I did not order any other item (including the software) be sent to me. The book by itself has already been paid off in one month. How? I owe on my equity loan. By depositing my paycheck into the HELOC and letting it be there for three weeks before I had to make a payment on my credit card and my mortgage, the interest for the month on the HELOC went from $60 to $20. At this rate it is obvious that I could pay off my mortgage earlier. I do not know how much earlier because I did not request the software because of the $400 charge. So I will remain in the dark as to how much paycheck will pay off how much time earlier. I do not think the software could be worth $400 as it is a one-trick pony while a software program like Quicken costs 1/8th the price and does so much more. Point is: if one has disposable income at the end of a month, then one can apply this program to earn more interest on their money that is paying down their debt. Paying down one's debt simultaneously brings down the principal and lowers debt on that too.
If one already pays everything on time; but, just a day before the last day due and one has disposable income after doing so, one cannot lose! Even if variable interest rate goes up, there would be a certain range that this program could accept before one would lose money. And...we have not even added the benefit that a HELOC can be a tax deductible event that has the government contribute to paying off your loan with you.
Hey, Mr. Weathington, sell the software cheaper and count on volume of sales to increase your profit line.
Always looking for good information October 8, 2008
0 out of 9 found this review helpful
This book is a great book to learn how to pay your house off early. You can learn other technics as well
Secrets Banks and Lenders Do No Want You to Know August 23, 2008
0 out of 18 found this review helpful
It is one of the most comprehensive books for the American consumer who has the vision to become debt free and to cash in and utilize their greatest source of equity, their home. It should be a must read for everyone.
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