The book Mind Your Own Mortgage was a very timely read for my household. Although I agreed to read it for book review purposes I have to admit that I had the additional motivation to read it due to a real need in my family to cut costs in our monthly budget. In fact, we were already talking with our bank about refinancing, but we weren’t yet sure it made sense to do so.
All this to say, that I am thankful that Mind Your Own Mortgage fell into my lap to read for the review. Because my husband used to be a mortgage loan processor I thought we would be more educated and not fall for some of the common mortgage traps that are out there … We did already know that using an ARM versus a fixed loan was a very unwise idea, but the idea of shopping around for the best mortgage for us, and asking for transparency from our lender were totally new concepts for me.
If you are even considering refinancing your home it would be worth your while to at least skim through this book. Make sure you aren’t refinancing solely to lower your payment, and arm yourself with tools to compare several lenders and put one of the biggest financial decisions of your life into your control – minus any sense of obligation to your local bank, a friend who is a lender etc. It’s your money – take control of it – and keep the bigger picture of your long term goals in mind.
In my opinion this book is definitely worth the read, it talks about more than just mortgages, but of life’s financial struggles over the long haul and how to keep your life goals in mind and be less swayed by having extra money today versus what it will cost you tomorrow.
There are areas where I felt knowledgeable and was able to skim those rather quickly, but other areas were totally eye-opening. I’ve always felt at the mercy of my bank, where I had an established history – but now, thanks to forms on the connected web site – I will be able to compare costs in a detached way (including my bank) and decide without pressure to commit to anything that doesn’t fit my long-term goals. This book was timely, and will help me make a much more informed decision about whether we will refinance at all, and enable us to get the best loan for us available (versus the only one offered by one lender.)
Book Cover Review
I think the house made out of folded money on the front cover is quite clever. That choice, and the fonts used make it seem contemporary and timely. However, I do feel that the word Mind stands out rather well due to it’s red hue, and the words Your Own Mortgage do not stand out as much because they mimic the greens in the folded bills. To make the title stand out more they probably should have chosen a color that stood out more. If not the same red, then another warm color that complemented, a bright brown or rusty orange color? Additionally, to make the folded bill house stand out more they could have made the background color a darker color such as navy blue, or deep brown. If the background were darker the folded bill house would really ‘pop’ off of the page. As it is, the off white/celery green color of the background blends right into the background color of the paper of the dollar bill. It is harmonious, but not really eye-catching. And if you want this to fly off the shelves you need to catch some attention!
It is a pleasing cover, but I feel that it might get lost on the shelf because it uses muted tones that run into each other a great deal. The only people who will find this cover are ones already looking for a book on Mortgages or Refinance or those that receive further marketing about the book from the publisher and are on the lookout for it. If this book, with the current cover, were at the front of any bookstore, vying for attention with other books on varied subjects … it would likely be overlooked – even by people who are in need of its sage advice!
* This book was provided to me by the publisher, Thomas Nelson, for review.