The Banker's Secret (Hardcover)

by Marc Eisenson (Author) "Pre-paying saves money on all kinds of loans, including home and student loans, as well as those costly credit card balances..." (more)
Key Phrases: sample loan, mortgage check, negative amortization, Debt Reduction Tables, Pre-Payment Savings Tables, The Above Figure (more...)

Editorial Reviews

Product Description
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.

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 (11 customer reviews)
• Amazon.com Sales Rank: #746,986 in Books (See Bestsellers in Books)

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  Books > Business & Investing > Real Estate > Mortgages

Customer Reviews

Most Helpful Customer Reviews

6 of 6 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

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.

9 of 11 people found the following review helpful:

1.0 out of 5 stars Do not buy the audio tape of this book!!!, May 27, 1999

By A Customer

This review is from: The Banker's Secret: Your Mortgage Is a Great Investment (Audio Cassette)

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 couple of black and white stickers on it. It was so bad, I sent it back to Amazon. It may be worth $1.29, but not $12.95!!!

2 of 2 people found the following review helpful:

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

By	Eugene G. Curtis (Shokan, NY) - See all my reviews (REAL NAME)

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.