Skip to main content

Mind Your Own Mortgage

By Robert J. Bernabe

I picked this book from the Booksneeze collection because we are always contemplating buying a house or condo. We haven’t up till now because of moving, finances and currently debt reduction. It was interesting to read through this Mind Your Own Mortgage (MYOM) concept of turning shopping for mortgages into the equivalent of shopping for gas.


There is a cost associated with a mortgage: lender's fees, points, third party fees, to name a few. They have always kind of frightened me, because I was like “I have to come up with a down payment AND closing costs, wow.” But this helped me see that I can control those costs and know what they are before entering into the loan process itself.

One of the main things that Bernabe is trying to break away from is shopping for mortgages based on monthly payment. He gives clear examples of why this type of mortgage shopping works against you and how you can correct it. It’s actually quite exciting to think about payoff solutions that he has put forth in this book. He refers to them not only as a snowball but also as an avalanche pay off process, cutting down a 30-year loan to 18 or 20 through refinances and smart money management. That is a considerable savings.

My one complaint is the constant referral to the MYOM website, which is referred to as an appendix. As of this posting that “appendix” has a thirty-dollar yearly fee to access it! And the forms that he refers to are not available in the book at all.

Comments

Popular posts from this blog

The Bottom of the Pool by Andy Andrews

Y'all know that I'm a big Andy Andrews fan, so I was very excited to read his latest, The Bottom of the Pool. The best way that I can describe this book is like sitting down with your friend and they remind you how it is. It's not like Andy is hawking some secret voodoo send me $5 and you'll get $5000 in the mail next week black magic. He's sharing the truth. And the truth is that if you're dealing with an obstacle in your life, there's a big possibility that you're thinking about it all wrong.

This relatively quick read is jam-packed full of good stuff. There are interesting stories about historical figures but the main story that runs throughout the book is one of a childhood friend. Andy's friend did something extraordinary one summer afternoon that illustrates how we can break out of cycles hold us back from achieving what we are created to do. Without telling you exactly what Andy has to share in this book, it might feel like it's some mag…

Saturday Rant: Dominoes

I always find it interesting how life can be very much so like dominoes sometimes. Let's see, my husband went out of town this last fall. I volunteered to preach for him while he was gone. I told a friend about the online copy of the sermon. She forwarded it to a few folks, next thing you know, I'm doing a short testimony at my weekly Bible study. What I'm really wondering it "What next?"

You see, when I got done preaching, and my husband came back into town, we talked about how people reacted to the sermon. Then we talked some more when I was asked to share again. And the question was, maybe I'm supposed to be open to talking more often.

To be honest, I haven't done a lot of talking in groups since I had a really bad experience a few years ago. I was always opinionated, in fact I still am. I have lots of opinions about most everything from how warm my house should be to which way the car should take me from point a to b. But I found myself in a group of …

Murder, Motherhood, and Miraculous Grace by Debra Moerke

Y'all know that I love a good murder mystery, especially when it's based on a true story. Unfortunately, this is one of the most heartbreaking true stories that I've read.

This is the true story of a foster family and not just any foster family, this was the teach others how to do it foster family. They took all the tough cases and kept larger families together. They knew how to foster kids. This story is about a specific family of several kids that came into their care when their single mother ran into some problems with the law.

There was one little girl from the displaced family, Hannah, found a very special place in their hearts. It became clear during their time together that Hannah was not treated the same as her siblings by her birth mother, Karen. She showed fear and the other children distanced themselves from her. When it came time to return to live with their birth mother, Hannah begged to stay with the Moerke family. The Moerkes did all they could to keep tabs…