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The Banker's Secret [Hardcover]

Marc Eisenson (Author)

3.4 out of 5 stars See all reviews (13 customer reviews) |

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Book Description

Publication Date: March 24, 1990

An extraordinary and amazingly simple book that teaches you how to save at least tens of thousands of dollars when you prepay your mortgage, The Banker's Secret offers about forty pages of simple-to-follow text and loads of helpful charts.

#outer_postBodyPS { display: none; } #psGradient { display: none; } #psPlaceHolder { display: none; } #psExpand { display: none; } An extraordinary and amazingly simple book that teaches you how to save at least tens of thousands of dollars when you prepay your mortgage, The Banker's Secret offers about forty pages of simple-to-follow text and loads of helpful charts.

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Invest in Yourself: Six Secrets to a Rich Life by Marc Eisenson
4.4 out of 5 stars (17)

Product Details

Hardcover: 232 pages
Publisher: Villard (March 24, 1990)
Language: English
ISBN-10: 0394586042
ISBN-13: 978-0394586045
Product Dimensions: 8.3 x 5.6 x 1 inches
Shipping Weight: 1 pounds

Average Customer Review: 3.4 out of 5 stars See all reviews (13 customer reviews)

Amazon Best Sellers Rank: #642,125 in Books (See Top 100 in Books)

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More About the Author

› Visit Amazon's Marc Eisenson Page

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Customer Reviews

13 Reviews

5 star:		(5)
4 star:		(2)
3 star:		(1)
2 star:		(3)
1 star:		(2)

Average Customer Review

3.4 out of 5 stars (13 customer reviews)

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Most Helpful Customer Reviews

7 of 7 people found the following review helpful:

5.0 out of 5 stars GET THIS BOOK! It will save you tens of thousands of $$$$, February 22, 1999

By A Customer

This review is from: The Banker's Secret (Hardcover)

The authors tell you - in plain english - how to save thousands on your mortgage by either "prepaying" or paying your mortgage biweekly (or a combination of both). Although most banks will allow you to prepay (ie. pay extra towards the principal each month), very few if any allow you to pay biweekly. One exception I know of is Primerica Financial Services (a division of Citigroup/Travelers Insurance). Anyway, as an example, simply paying biweekly on a 30 year, $100,000 loan at 7.5% fixed rate would save you over $40,000 and shorten the loan life by over 6 years. The book contains hundreds of easy to use tables that show you what you'll save on loans ranging from $50-$500,000 and interest rates from 7% - 14.75% using either the prepayment or biweekly stratagies. The authors also explain the effect these stratagies will have on taxes and home equity as well as warn you about possible penalties and extra fees you can avoid.

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3 of 3 people found the following review helpful:

3.0 out of 5 stars Too many tables, September 26, 2008

W. Griner - See all my reviews
(REAL NAME)

This review is from: The Banker's Secret (Hardcover)

You really don't need this book to do this on your own. Just print out a mortgage amortization table. If you don't know how to do this, contact your mortgage company and ask them to send it to you. Next, look at your most recent mortgage statement and find your current/remaining balance. Find this number in the amortization table. If you can't find it exactly, find the number that is just greater than it. Now you know where you are in your loan and you can see how many more payments you have. By paying extra principal, you move down the table. The more you pay, the faster you move. That's the secret.

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3 of 3 people found the following review helpful:

4.0 out of 5 stars Good, money-saving information, September 8, 2005

Book Carpenter (Catskill Mountains, NY) - See all my reviews

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This review is from: The Banker's Secret (Hardcover)

If you want to save money on your mortgage and actually know how much money you will save, this is the book for you. There are - I don't know how many - charts that show mortgage amount, interest rate, and interest paid. Use these charts to decide how much you can save over the life of your mortgage. Very worthwhile book.

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Most Recent Customer Reviews

5.0 out of 5 stars exactly as I expected...thanks!
Great, speedy delevery & service, the book was exactly as I suspected talking about Amort schedules & what not. Thank you!

Published 1 month ago by jackieinjtown

2.0 out of 5 stars Not what I thought it would Be
I received the book in good condition, but it was completely different from the original book I purchased in the 80's. I thought it would be the same book but it was not. Read more

Published on October 24, 2009 by Simone Hardy

4.0 out of 5 stars is a good resource
The book is good but I was a little disappointed. I wanted to find more info. about figuring out the savings if paying more than bi-weekly. Read more

Published on April 27, 2009 by Angela Hill King

2.0 out of 5 stars Bankers have only 1 Secret?
Disappointed, this book does discuss paying your mortgage off early and gives you the technique to accomplish that, but a whole book for this one technique? Read more

Published on July 26, 2007 by Georgia A. Weaver

2.0 out of 5 stars Not much of a secret
Here is what this book says. Paying your mortgage off faster than your payment schedule will save you tens of thousands of dollars. Read more

Published on October 30, 2001 by Suzanne Palmer

1.0 out of 5 stars Could have contained more secrets
Pretty much everything that was said in this book was in my first choice (Invest in Yourself: Six Secrets to a Rich Life). Read more

Published on August 16, 2001

5.0 out of 5 stars Good Advice!
This book provides excellent advice on what were until now--to many--secrets of the financial industry. Read more

Published on January 20, 2000 by Matt Dahl

1.0 out of 5 stars Do not buy the audio tape of this book!!!
I'm an avid audio tape listener and purchased the audio version of this book. It came in a generic case (like you'd buy to copy your own cassettes) with shabby wrapping and a... Read more

Published on May 27, 1999

5.0 out of 5 stars GET THIS BOOK! It will save you 10's of thousands of dollar
The authors show you - in plain english -how you can save thousands on your mortgage by either "prepaying" or by paying your mortgage biweekly (or a combination of both... Read more

Published on February 22, 1999

5.0 out of 5 stars Brilliant! It'll save you a fortune
This is a wonderful simple book which explains how to save tens of thousands of dollars by sending regular prepayments of as little as $25 monthly. Read more

Published on June 25, 1997

› See all 13 customer reviews...

Inside This Book (learn more)

First Sentence:
Pre-paying saves money on all kinds of loans, including home and student loans, as well as those costly credit card balances. Read the first page

Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
sample loan, mortgage check, negative amortization, principal portion, loan amount

Key Phrases - Capitalized Phrases (CAPs): (learn more)
Debt Reduction Tables, Pre-Payment Savings Tables, The Above Figure, The Banker's Secret Software, The Secret, Total Outlay, Total Cash Outlay, Total Principal

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Citations (learn more)

This book cites 1 book:

How to avoid probate! by Norman F Dacey in Back Cover

2 books cite this book:

Invest in Yourself: Six Secrets to a Rich Life by Marc Eisenson in Back Matter, and Back Flap
Invest in Your-SELF: Six Secrets to a Rich Life by Marc Eisenson on page 235, and Back Cover

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