Understanding Your Mortgage [Paperback]

Patty Crowe (Author), Laura Wertz (Editor)

Book Description

ISBN-10: 097762692X | ISBN-13: 978-0977626922 | Publication Date: April 15, 2006 | Edition: 2nd

This book will show the home buyer how to own the most house for the least money. By understanding the principles in this book, anyone can achieve home ownership faster than they thought possible and with far less expense. The principles in this book should be understood by anyone who is contemplating getting a mortgage, and certainly by anyone who already has one.

Editorial Reviews

Review

I recommend this book to anyone who wants to own their home sooner. -- Real Estate Associate

This book absolutely helped me feel better about the whole home buying business. -- L.W.

About the Author

The author, Patty Crowe, practiced as a loan consultant during the housing boom of the 80s and helped area home buyers learn how to save over 4.5 million dollars on their home mortgages in the first two months of practice. This book grew out of a desire to reach broader numbers and help all home buyers do the same.

Product Details

• Paperback: 100 pages
• Publisher: Richer Resources Publications; 2nd edition (April 15, 2006)
• Language: English
• ISBN-10: 097762692X
• ISBN-13: 978-0977626922
• Product Dimensions: 8.3 x 5.4 x 0.3 inches
• Shipping Weight: 4 ounces (View shipping rates and policies)
• Average Customer Review: 4.0 out of 5 stars  See all reviews (5 customer reviews)
• Amazon Best Sellers Rank: #2,897,298 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

2 of 2 people found the following review helpful:

3.0 out of 5 stars Good for the Basics, November 5, 2007

By 

Lin Ennis "Writer, Business Owner" (Sedona, AZ United States) - See all my reviews

This review is from: Understanding Your Mortgage (Paperback)

_Lose Your Mortgage_ brings forward an important discussion: that of paying off your home and owning it free and clear rather than having a lifelong payment relationship with your lender. Its explanations of what it costs you to ignore the way monthly compounding works would be eye-opening to new homebuyers, though the examples using 10% interest are not very realistic for the 2006 revision date of this volume when rates were at their lowest in decades. (People with adjustable rates might be nearer 10% than 5%, but that wasn't the majority of the buying public in '06.)

Though the language sounds a little old-fashioned, its description of how to accomplish the same savings as one could with a biweekly mortgage - even if your lender isn't affiliated with a biweekly program - is certainly easy to follow and unmistakable.

Where the book falls down is in covering some of the more modern and in vogue techniques, such as using home equity in case you don't have the funds to double payments as the authors suggest. I would recommend Harj Gill's _Own Your Home Years Sooner_ or John Barker's _Let Your Mortgage Make You Rich!_ as more complete texts on mortgage reduction, with the latter covering the most approaches.

4 of 5 people found the following review helpful:

2.0 out of 5 stars Wrong Title, January 13, 2007

By 

D. Cavanaugh (Ann Arbor, MI) - See all my reviews
(REAL NAME)   

This review is from: Understanding Your Mortgage (Paperback)

If you do not have a basic knowwdge of mortgages, then this book is for you, however if your trying to compare the pros and cons of different mortgage products, then this book falls short. It provides information that can easily be obtained either by speaking with various lenders, or by conducting research online, for free. The book should be titled Mortgage 101, and not the misleading title of lose your mortgage, because unless you have a lot of extra cash your still in it for the long haul.

1 of 1 people found the following review helpful:

5.0 out of 5 stars Informative and Helpful, March 13, 2007

By 

Jennifer G. Lindamood "Jenny L." - See all my reviews
(REAL NAME)   

This review is from: Understanding Your Mortgage (Paperback)

Before reading this book, I hadn't the slightest idea about mortgages, the lending process or owning a home. This book layed out in a clear and concise way how mortgages work and how interest can affect your home loans. I had no idea it could take so long to actually begin to pay off your mortgage! For someone who barely made it through high school math successfully, the examples provided by the author help to illustrate the points made in a way even a math-challenged person can comprehend. I now feel I have the knowledge necessary to be able to own my own home sooner than I thought possible. The author communicates to the reader in such a way that it feels she is right there with you, explaining the whole process in a casual conversation. If you are feeling at all confused about mortgages and loans then pick up this book to ease your nerves.