Monday, 25 March 2013

Book review: Mortgage Free, Debt Free

According to its cover, Mortgage Free, Debt Free: 5 Steps to the Fast Track by Michael Lee won the Money Magazine Book of the Month Award in April 2012.  I received the book as a gift from a mortgage broker, and I found it so absorbing that I polished it off in a couple of days.  It was really an eye-opener into some of the tricks of the mortgage broking industry.

The book is structured into an introduction and five parts, with an introduction by Scott Pape, the Barefoot Investor.

Introduction

The introduction promises that by the time you finish reading the book, you will be able to:
  • Slash the time and money wasted on your mortgage
  • Choose only the right loan features for your next home loan
  • Easily compare any loan with any other loan
  • Reduce and avoid mortgage stress
  • Eliminate debt faster
  • Reach financial freedom sooner
Lee says his book is different because it is a “spin free” zone.  Rather, it “contains facts, realistic objectives, and innovative ideas that are crucial to your success.”

Lee positions himself as someone with both experience in the industry and practical experience as a borrower himself.