Mind Your Own Mortgage: The Wise Homeowner's Guide to Choosing, Managing, and Paying Off Your Mortgage

Overview

LEARN TO SHOP FOR AND MANAGE YOUR MORTGAGE UNTIL YOU HAVE ELIMINATED IT—ONCE AND FOR ALL!

Mind Your Own Mortgage empowers homeowners to shop for a mortgage as if it were a commodity—as easy as buying a gallon of gas—and enables them to eliminate their mortgage debt by revealing inside information used to keep them enslaved to the mortgage industry. Mind Your Own Mortgage changes the game—putting you in charge:...

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Mind Your Own Mortgage: The Wise Homeowner's Guide to Choosing, Managing, and Paying Off Your Mortgage

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Overview

LEARN TO SHOP FOR AND MANAGE YOUR MORTGAGE UNTIL YOU HAVE ELIMINATED IT—ONCE AND FOR ALL!

Mind Your Own Mortgage empowers homeowners to shop for a mortgage as if it were a commodity—as easy as buying a gallon of gas—and enables them to eliminate their mortgage debt by revealing inside information used to keep them enslaved to the mortgage industry. Mind Your Own Mortgage changes the game—putting you in charge:

  • Shop with confidence—an exclusive system helps you make decisions based on the best price
  • Identify slick sales gimmicks and lender manipulation
  • Refinance only when it makes sense for you—not for the mortgage company
  • Eliminate your mortgage in record time—so your retirement years include retirement

A SOUND MORTGAGE = A SOUND ECONOMY

Stocked with compelling real-life scenarios, budgeting tips, and handy financial tools, Mind Your Own Mortgage is a timely wake-up call for homeowners and a candid decree that the American dream is still possible—if we dramatically rethink the way we finance our homes.

IT’S TIME TO MIND YOUR OWN MORTGAGE.

“Whether you’re getting a new mortgage, refinancing an old one, or dealing with the mortgage you have already, you won’t find a better mortgage coach than my friend, Rob Bernabé.”—Mary Hunt, personal finance expert, best-selling author, and CEO of Debt-Proof Living

“Finally, consumers have what they need to hold any mortgage provider accountable.”―R. Jarret Lilien, founder and managing partner of Bendigo Partners and former president and COO of E*Trade Financial

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Product Details

  • ISBN-13: 9781595550880
  • Publisher: Nelson, Thomas, Inc.
  • Publication date: 5/4/2010
  • Pages: 302
  • Product dimensions: 5.40 (w) x 8.10 (h) x 1.00 (d)

Meet the Author

Robert J.Bernabé is an expert in mortgage finance who has been quotedin media outlets such as The Wall Street Journal, The Washington Times, and many others. He serves on the financial stewardship team at Saddleback Church in Lake Forest, California.

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Sort by: Showing all of 16 Customer Reviews
  • Posted May 21, 2010

    Mind Your Own Mortgage made finances a pleasure to read!

    Find yourself a house, obtain a mortgage and then refinance to reduce your monthly payments.

    Robert Bernabé dissects this process most of us usually adhere to when hunting for a suitable mortgage. Instead, Bernabé suggests a completely different avenue to approach the mortgage industry from while explaining the skewed misconceptions we have and the mistakes we commonly make. I originally decided to read Mind Your Own Mortgage to hopefully obtain a fuller, more fine-tuned understanding of the details that surround acquiring and refinancing my mortgage. After reading it, I can say with confidence that I have a broader comprehension of the terms associated with the mortgage industry's vocabulary (i.e. curtailments, fixed-rate mortgage introductory period, etc.), a clearer financial goal and the tools and strategies required to achieve it. More importantly, Bernabé delivers this advice in a refreshing and engaging way that made me excited to start planning my finances with the future in mind. He offers hope to a situation that is usually hopeless, if not overwhelming and illustrates the benefits of "minding your own mortgage" with simple graphs and tables.

    I would recommend this book to anyone looking for further insight into the mortgage industry and managing their personal mortgage, but also to those looking for that initial book that will introduce financial planning in an enjoyable way.

    Disclosure of Material Connection: I received this book free from Thomas Nelson Publishers. I was not required to write a positive review and the opinions expressed are my own.

    1 out of 2 people found this review helpful.

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  • Posted May 10, 2011

    Good reference book

    I have received "Mind Your Own Mortgage: The Wise Homeowner's Guide to Choosing, Managing, and Paying Off Your Mortgage" by Robert J. Bernabe from the publisher in a moment I was actually preparing myself to refinance, probably it was the best moment the book could have come as it was a real eye opener.

    The book is divided in four sections: Get a grip on it, shop for it, manage it and finish it.

    The first section it is an introduction of the book and explains in general how the mortgage market works. The second section goes deeply into explaining all the shopping process and everything involved in the total cost of a mortgage, provides charts and explains how to compare prices in the same way as you would if you were buying a gallon of gas. The third and forth part are shorter and deals with the payment of your mortgage.

    The book is very informative and well written, although this is not an easy subject at least for me. The idea of having your own charts/ tables to compare different prices provided by the lenders was completely new to me as we always tend to listen to the sales pitch and make some sense of it. I doubt that the tables will be valid for the UK market or any other market outside the United States; however it is an interesting idea and inspires you to find a way to adapt it to your own market and situation.

    In general the principles and basic rules still apply wherever you are: shop based on total cost versus payments, try to put money aside to "overpay" each month (reducing the length of your mortgage and saving thousands of dollars in the long run), live within your means.

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  • Posted July 26, 2010

    more from this reviewer

    Lots of great advice!!

    I've been interested in learning more about home mortgages and how to pay off your mortgage faster than the usual 30 years for a while now. "Mind Your Own Mortgage" gives great advice on how to "shop" for a mortgage, which many people who are in the market for a new house just never think about actually shopping around for a mortgage, they don't even realize you have the capability of doing so. Also, I like the recommendations and suggestions it gives to shop by overall price of the house, NOT the monthly payment! Any homeowner should read this book and anyone who wants to own a home should pick up a copy too and follow the great advice given. It is truly a great guide to choosing, managing and paying off your mortgage. Imagine if you didn't have a mortgage and you owned your home free and clear!! Many think this is impossible, but it's not! You could focus most of that money you would've spent paying a monthly payment towards savings, paying off debt and other general everyday expenses. This is a great book that I am very happy to add to my collection and will reference back to it the next time I'm in the market to purchase a house and sell the house I'm in. I received a copy of "Mind Your Own Mortgage" for free from Book Sneeze blogger program. I am reviewing this book for Book Sneeze and all opinions are 100% mine.

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  • Posted July 12, 2010

    The name says it all

    Mind Your Own Mortgage - By Robert J. Bernabe

    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.
    I received this book free from Thomas Nelson Publishers as part of their BookSneeze.com bloggers program. I was not required to write a positive review.

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  • Posted July 6, 2010

    Great Resource for First Time Home Buyers

    This book was written in light of the recent economic meltdown and in the hopes of rebuilding the U.S. economy by encouraging people to get their finances in better shape. I have personally never owned a home. The one time I was close to becoming a home owner told me that I really to start researching this. He presents the information and explains the terms in everyday language. The book contained more than just words, such as diagrams, sidebars and quotes to keep you interested and a change of pace in a topic that can get a bit tedious. He also provides a website www.mindyourownmortgage.com for further tools.

    Keeping in mind that this will probably be the largest debt that I will ever own, he provided me with enough information to not be completely overwhelmed but feel like I actually understand the whole mortgage process. The book itself is broken down into three main sections: Get a Grip on It, Shop for It and Manage It. The first section, Get a Grip on It, explains how the mortgage market works and how so many people have ruined their finances. The second section, Shop for It, is about actually shopping for a mortgage. While looking for property, I was the one that was looking for an affordable monthly payment instead of the whole picture. However, I learned that shopping for a mortgage is about price (rate, points and fees) not the monthly payment. I also know that I should look for a fixed-rate mortgage, not an adjustable-rate one. The third section explains how to effectively pay off your mortgage and when to refinance (if necessary).

    I found this book to be well written, extremely informative and a great resource for new homeowner's (or those looking for their first home, like me). I would definitely recommend this book!

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  • Posted June 8, 2010

    Mind Your Own Mortgage by Robert J. Bernabe

    I absolutely soaked in the first few chapters of this book. It describes how mortgages work, what sorts of things to watch out for when purchasing a mortgage, and what you should be focusing on when shopping for a mortgage. When my husband and I purchased our mortgage a few years ago, we really didn't know what we were looking for beyond cash to buy a house. This book explains the ins and outs of mortgages and helps both the beginner and someone who has had a mortgage for years understand what is happening in the industry.



    After the first few chapters, the book shifted into more specific advice about shopping for a mortgage and about managing your mortgage. I found this section a bit repetitive and felt that I'd already grasped the principles being applied here when they were outlined in the first section. Overall, it is a fairly straight forward book and I will certainly use parts of this book for reference the next time my husband and I are shopping for a mortgage.


    Being from Canada, there were times when I wasn't sure how relevant the book was for me. I wasn't familiar with many of the "antics" surrounding mortgages and wasn't sure if Canadians have the same options as Americans do. If I was looking at purchasing a book to guide me through my next mortgage, I would probably steer more toward a book written specifically for Canadians. But that said, this book does have a lot of general information that would be helpful to anyone, no matter where they live.


    At times, I felt that the author leaned a bit too far toward the conservative side. There were a few comments in the book about using discretionary income to pay down your mortgage instead of buying a new tv (or whatever else). While this is a good thought, it is unrealistic to think that every home owner will completely pay off their mortgage before buying things like new furniture or a big screen tv. If taken with a grain of salt, the underlying principles are good ones, and would be valuable if applied in any credit situation, not just with mortgage debt.


    Overall, I would recommend this book especially to Americans who are thinking about buying a house or who already own a home but feel that they would like to be mortgage free sooner. It is well-written and the author is obviously knowledgeable about this topic.

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  • Posted June 6, 2010

    "Mind Your Own Mortgage" by Robert Bernabé.

    I had the pleasure of reviewing the book: "Mind Your Own Mortgage" by Robert Bernabé. Since I am a young married person who is currently renting, I was interested in discovering what I needed to know about mortgages and this book is just the right resource. This informational book goes through the do's and don't's of preparing to take on a mortgage and what to do if you already have a mortgage (more geared to the latter). This book is a good resource for any "newbe" like myself or even a seasoned home owner who may not be aware of all the "tricks of the trade" that may benefit the way they handle their mortgage.

    I really liked the way the chapters are layed out by topic so that someone who just wants to look up a particular section does not need to read the entire book. The layout makes the book more like a small encyclopedia for mortgages than a novel type read. I also like the language usage that is not too simple but also not too complex. Over all I would recommend this book to anyone who is considering buying a home or someone who wants to know more about their options in paying their mortgage.

    Disclosure of Material Connection: I received this book free from Thomas Nelson Publishers as part of their BookSneeze.com <http://BookSneeze.com> book review bloggers program. I was not required to write a positive review. The opinions I have expressed are my own. I am disclosing this in accordance with the Federal Trade Commission's 16 CFR, Part 255 <http://www.access.gpo.gov/nara/cfr/waisidx_03/16cfr255_03.html> : "Guides Concerning the Use of Endorsements and Testimonials in Advertising."

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  • Posted May 31, 2010

    I Also Recommend:

    Mind Your Own Mortgage By Robert Bernabé

    Mortgages are no longer an option but a necessity for our society. To take control of our financial portfolio and to get the maximum out of it we must be familiar with the various aspects associated with a mortgage. Robert J Bernabé through his book- "Mind Your Own Mortgage" guides us through the complex issues of loans and mortgages and shows us ways to tweak and tune them to our advantage. He familiarizes us with complex concepts like debt-to-income ratio, mortgage snowball and a host of other similar terms that are essential for our knowledge when planning for a mortgage. The book is presented in a very interesting manner with charts, boxes, tables and illustrations that make an otherwise monotonous topic quite interesting.

    This book has broadened my knowledge about mortgages and has shaped my approach towards my financing plans. It has further armed me with important information and I no longer feel vulnerable before the financing institutions and their technical jargon. I readily recommend this book to every person who has, is and would be going in for a mortgage. In short Robert Bernabé's Mind Your Own Mortgage should be treated as a handbook on the principles of mortgaging.

    Disclosure of Material Connection: I received this book free from Thomas Nelson Publishers as part of their BookSneeze.com book review bloggers program. I was not required to write a positive review. The opinions I have expressed are my own. I am disclosing this in accordance with the Federal Trade Commission's 16 CFR, Part 255: "Guides Concerning the Use of Endorsements and Testimonials in Advertising."

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  • Posted May 29, 2010

    Compelling Case for Paying Off Fixed Rate Mortgage Early

    Bernabe's "Mind Your Own Mortgage" makes the case for using price when selecting a mortgage (preferably a fixed rate mortgage) and paying off said mortgage early. Bernabe begins with a short historical section describing the causes of and responses to the current financial crisis. He then moves into the negative aspects of adjustable rate mortgages (ARMs) and the results of regularly refinancing said ARMs. After making a clear and compelling case for fixed rate mortgages and his own personal system for selecting a mortgage, Bernanbe concludes by extolling the virtues of paying off one's mortgage, primarily more disposable income and a smaller total amount of interest.

    Bernabe's case for paying off fixed rate mortgages is attractive and similar in content, if not form, to Dave Ramsey's approach. Bernabe doesn't approach his subject from an overtly Christian perspective (the exceptions being a couple references to God, the introduction, and the conclusion), which may give the work a broader audience. The foundation for Bernabe's position on mortgages is both financial and relational. He, appropriately, views debt as slavery that limits one's ability to spend and live as you wish and sees a greater workload (and hence less time with friends and family) as the inevitable result of this slavery.

    I enjoyed this work and felt that Bernabe's presentation was clear and effective. On the other hand, I felt that he was rather belabored when making the case against ARMs. In addition, he seems to focus on refinancing as opposed to acquiring a mortgage in the first place (although this is not a universal flaw) At the same time, he provides easy to use tools for selecting a mortgage with clear explanations of how to use and access these forms (through his website www.mindyourownmortgage.com). The text was well laid out, including helpful tables and diagrams as well as sidebars and short story digressions. I recommend this book to anyone considering acquiring a first mortgage or refinancing.

    Disclosure of Material Connection: I received this book free from Thomas Nelson Publishers as part of their BookSneeze.com <http://BookSneeze.com> book review bloggers program. I was not required to write a positive review. The opinions I have expressed are my own. I am disclosing this in accordance with the Federal Trade Commission's 16 CFR, Part 255 <http://www.access.gpo.gov/nara/cfr/waisidx_03/16cfr255_03.html> : "Guides Concerning the Use of Endorsements and Testimonials in Advertising."

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  • Posted May 28, 2010

    READ THIS BOOK!!!

    I read "Mind Your Own Mortgage" by Robert J. Bernabe and now I'm scared half to death. I always assumed the mortgage broker had my best interest in mind and since I don't have half a clue when it comes to money I happily was led around. How much money have I lost? I hate to even think about it. This book has made me rethink everything and I can promise you this - life from here on out will be different in terms of my mortgage. The only downfall with this book is that it is american and I live in Canada so I'm going to have to do more research to see if all that Mr Bernabe taught applies. Either way this book was definitely worth my time. I thought I'd be plodding along half asleep reading a book on mortgages but it was very readable. In fact I couldn't put it down. Highly recommended.

    Disclosure of Material Connection: I received this book free from Thomas Nelson Publishers as part of their BookSneeze.com book review bloggers program. I was not required to write a positive review. The opinions I have expressed are my own. I am disclosing this in accordance with the Federal Trade Commission's 16 CFR, Part 255 : "Guides Concerning the Use of Endorsements

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  • Posted May 8, 2010

    What's in a mortgage?

    I received a free copy of this book from Thomas Nelson to review. That has not affected the nature of my review.

    I liked this book. The information seemed sound and encouraging in an area of finances too many of us ignore. The writing was well done. The pages were not overcrowded, but had headers and sidebar quotes, and tables and diagrams that all helped to keep interest in what can be a boring subject. They also provided just the right support to demonstrate the points, without getting too crowded.

    The book starts with a great overview of financial responsibility and why we should shop for a mortgage and treat it seriously. He also talks about the downside of consumer debt and pulls in some very good descriptions of what was happening before and during the recent economic crisis.

    It contains some sound advice - shop for what you can afford, not what you qualify for. Buy on the total price, not the monthly payment. Pay attention and be in charge of the largest debt most people will ever have. This book was very timely as we are thinking of refinancing. We'll definitely put the principles of this book and the tools at mindyourownmortgage.com to work.

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