Secrets Banks and Lenders Don't Want You to Know/ Mortgage Free for Life!

I found this book fascinating and hard to put down. I am in the process of trying to utilize their recommendations, and hope that I will be able to make it work. Certainly, makes sense. Highly recommend this book! SS

Does the book cover the Current Account Mortgage (CAM) or the Offset Mortgage types and detailed steps to set it up right away without buying any software or additional stuff? Thanks.

Like other reviewers, I too was skeptical since I saw this book advertised on an infomercial. But the system does in fact work. Even if you live paycheck to paycheck you can pay off a 30 year loan in 25 (~5 years earlier). That being said, the author is a little missing leading in that to pay ones mortage off in 7-10 years you must contribute each month to paying down the principal on ones mortgage. If you can pay an extra $200 a month on a $200K mortgage you will pay off your 30 year fixed loan in about 15 years. If you can contribute $500 a month towards the principal then the payoff is ~10 years. Of course, an extra $500 a month is $6000 per year which is not a simple task for most family budgets. But if you think of the $100K-$150K in interest you will save then the extra $6K a year is definitely worth it. As for the software, I order it and then returned it. Yes, it would be nice to be able to "maximize" the system by using the software but it not worth the price of $400. Basically, the higher you can tribute to paying of the principal per month (less your monthly expenses) the better off you will be. For example, if you can apply $1000 a month to principal above and beyond your living expenses, then a typical $200K loan can be paid off in ~7 years. The software would be helpful, but then again, the first step is to just spend the 3-5 minutes a month to make the system work. You can track your own outcome and will be able to "predict" the benefits soon enough without the software. Bottom line is the system works!!

At first glance I bought into the idea to call and order the book. I did. I did not order any other item (including the software) be sent to me. The book by itself has already been paid off in one month. How? I owe on my equity loan. By depositing my paycheck into the HELOC and letting it be there for three weeks before I had to make a payment on my credit card and my mortgage, the interest for the month on the HELOC went from $60 to $20. At this rate it is obvious that I could pay off my mortgage earlier. I do not know how much earlier because I did not request the software because of the $400 charge. So I will remain in the dark as to how much paycheck will pay off how much time earlier. I do not think the software could be worth $400 as it is a one-trick pony while a software program like Quicken costs 1/8th the price and does so much more. Point is: if one has disposable income at the end of a month, then one can apply this program to earn more interest on their money that is paying down their debt. Paying down one's debt simultaneously brings down the principal and lowers debt on that too. If one already pays everything on time; but, just a day before the last day due and one has disposable income after doing so, one cannot lose! Even if variable interest rate goes up, there would be a certain range that this program could accept before one would lose money. And...we have not even added the benefit that a HELOC can be a tax deductible event that has the government contribute to paying off your loan with you. Hey, Mr. Weathington, sell the software cheaper and count on volume of sales to increase your profit line.

I was very skeptical when I ordered the book because I saw it advertised on a TV infomercial. But once I got into the concept and understood what the author was talking about, I realized the system worked extremely well. It's interesting how lenders in the UK and Australia offer this kind of early mortgage payoff plan to their citizens, but in the USA I dare say the entire concept will some day be challenged by the big and greedy banks. The more people who use this system and follow it to the letter, the more money the banks will ultimately lose. If you utilize this system, you can and will easily pay off your 30 year mortgage in as little as 7 years, without increasing your monthly payments or making that "extra" principle payment once a year. I wish I'd had this information 20 years ago, but later is better than never.