Everand Logo

Welcome to Everand!

  • Discover millions of ebooks, audiobooks, and so much more with a free trial

    Only $11.99/month after trial. Cancel anytime.

    The Thinking Man's Mortgage
    The Thinking Man's Mortgage
    The Thinking Man's Mortgage
    Ebook87 pages1 hour

    The Thinking Man's Mortgage

    By Alan Atack

    ()

    Read preview

    About this ebook

    For anyone looking to get a mortgage, The Thinking Man’s Mortgage" is a definite must read.
    Take the stress out of interest payments, types of mortgages and buy this book first. It’s easy to read, is full of great advice and will give you the confidence to go into mortgage negotiations. The charts on his website will make you understand how interest payments are worked out and how you can save yourself thousands of dollars. If I can understand it then anyone can.
    Thanks to Alan’s book I will have my mortgage paid off in 10 years - can’t wait. Thanks for sharing your knowledge Alan - glad I came across your book at the right time.

    Raewyn

    LanguageEnglish
    PublisherAlan Atack
    Release dateDec 20, 2010
    ISBN9781458098474
    The Thinking Man's Mortgage

    Related to The Thinking Man's Mortgage

    Related ebooks

    Study Guides For You

    View More
    View More

    Related podcast episodes

    Related articles

    • Article

      Can You Just Walk Away from a Debt-Riddled Business and Start Fresh?

      May 28, 2020

      In the wake of the coronavirus shutdown, many business owners are under immense financial stress caused by the economic impact of a nearly worldwide standstill. Some may be in or at risk of breach or default. Creditors may be jockeying for payment an

      7 min read

    • Article

      Owner Occupied Commercial

      Nov 28, 2019

      Commercial property is a great investment vehicle; however, it can be a hard market to access with shorter repayment terms, higher interest rates and a greater deposit required for lending. Business owners, however, have a unique opportunity in this

      2 min read

    • Article

      Creating Extra Value

      Jun 4, 2020

      Creating Extra Value
      5 min read

    • Article

      Are Debt Collectors Overcharging You? How to Protect Yourself

      Aug 25, 2022

      It’s tough enough trying to get ahead of a debt that’s gone to collection; it’s worse when a debt collector piles on fees, charging you extra to give them money. Yep, that’s right. According to federal officials, some debt collectors charge consumers

      3 min read

    • Article

      To Trust Or Not To Trust

      Aug 1, 2019

      To Trust Or Not To Trust
      6 min read

    • Article

      Before You Do a 1031 Exchange, Consider These 4 Alternative Investment Options

      Jul 27, 2020

      One of the most attractive real estate tax benefits available in the U.S. is the like-kind exchange, which is governed by Section 1031 of the Internal Revenue Code. About one-third of all commercial and multifamily property sales in the U.S. involve

      3 min read

    • Article

      Busting Trust Myths

      Sep 3, 2020

      “Trust busting” is the term often used to describe instances where a court finds in favour of a claimant trying to access trust assets. Here, though, I do not want to talk about “trust busting”. Instead I want to bust some trust myths. There has been

      2 min read

    • Article

      What Happens to Your Digital Assets When You Die?

      Apr 29, 2021

      Not very long ago, owning a personal computer was a novelty. Today we all interact personally and professionally using desktop or laptop computers and access the internet by way of cellphones. The constant presence of digital information in our lives

      2 min read

    • Article

      How To Get Finance

      Jun 4, 2020

      The number one thing 40.9% of investors say is holding them back from growing their investment portfolio is getting money from the bank. So how do you get more lending to grow your portfolio if the bank has already turned you down? There are two part

      2 min read

    • Article

      Building a Credit Score

      Dec 31, 2019

      Building a Credit Score
      4 min read

    • Article

      Why You May Need a Pro Trustee: Trust Administration is Not Just Common Sense

      Jan 14, 2019

      As an officer at a trust company, I often find myself defending the use of a professional trustee to attorneys and prospects. Typically, criticisms of trustees center around fees, locality and beneficiaries' perceived lack of access to funds and to t

      4 min read

    • Article

      How to Search for Old Savings Bonds

      May 1, 2018

      [Question]My grandfather and father passed away when I was 8 years old. I heard they had savings bonds for me. I'm 37 now and have no one left to ask about it. How do I find out if there really are any savings bonds for me, and how do I go about find

      2 min read

    • Article

      There is No Place Like Home: Mature Foreign Asset Protection Trusts Are Coming Home

      Feb 14, 2018

      Do you have a foreign asset protection trust (FAPT)? Has it been established for more than 10 years? Are you interested in ways you can save on the costs of maintaining your FAPT? You may now bring your trust home to a qualifying state and still ma

      2 min read

    • Article

      Changes To Trust Legislation

      Apr 2, 2020

      It has often been considered that the role of trustee of a trust is an onerous one, with trustees exposed to liability claims by beneficiaries if financial decisions don’t work out. This has led to increasing reluctance by professionals to offer them

      2 min read

    • Article

      Should You Do Your Own Taxes or Hire a Professional?

      Jan 30, 2020

      For some people, tax season poses little worry, and the process occurs painlessly. Simply populate the requisite fields on your 1040 with info from your W-2, claim the standard deduction, sign on the dotted line and e-file. After that, the check is

      4 min read

    • Article

      The Use Of Trusts For Business And Trading

      May 15, 2021

      BANKRUPTCIES in South Africa averaged 229 companies a month from 1980 until 2020. In August last year, an all-time high of 511 companies declared bankruptcy, compared to the record low of 63 companies in May 1988. The projected bankruptcies for 2021

      3 min read

    • Article

      Don’t Assume A Trustee Has The Board’s Authority To Act

      Nov 21, 2020

      OUTSIDE parties that deal with a trust often assume the trustees have both the authority and capacity to enter into transactions binding the trust. If trustees have not ensured that these requirements are met, to what extent can these outside parties

      3 min read

    • Article

      Solid Gold Strategies

      Jun 4, 2020

      Solid Gold Strategies
      5 min read

    • Article

      Devil Is In The Details

      Oct 30, 2017

      Devil Is In The Details
      3 min read

    • Article

      IRS Form W-4: How Many Allowances Should I Claim?

      May 9, 2019

      My son recently sent me a text asking, "Is it better to claim 1 or 0 allowances?" He was starting a new job that day, so I instantly knew he needed guidance on how to fill out a W-4 form. That's the IRS form you use to let your boss know how much fed

      6 min read

    • Article

      Know Your Rights

      Sep 16, 2021

      When buying a motorhome, it’s important to know your rights if something goes wrong. The Consumer Rights Act (CRA) is designed to make consumer law easier to understand, so customers can buy and businesses can sell in confidence, each knowing where t

      3 min read

    • Article

      Charitable Giving Under the New Tax Law

      Mar 8, 2018

      The chance to get a deduction for their generosity often motivates charitable givers to become even more generous and write larger checks. But under the Tax Cuts and Jobs Act, far fewer taxpayers will itemize deductions when they file their tax retur

      9 min read

    • Article

      For Tribes, By Tribes

      Sep 1, 2020

      For Tribes, By Tribes
      6 min read

    • Article

      Why Do I Need a Trust?

      Aug 31, 2022

      There are some simple estate planning techniques that you can use, such as adding beneficiaries to your retirement accounts or adding transfer on death (TOD) designations to after-tax accounts. When you pass away these assets will avoid probate and c

      3 min read

    • Article

      Beneficiary Designations: 5 Critical Mistakes to Avoid

      Apr 5, 2019

      Many people might not realize that their will does not control who inherits all of their assets when they die. Many assets pass by beneficiary designation — which is the ability to fill out a form with the financial company holding the asset and name

      3 min read

    • Article

      Are You Ready for Longevity? 4 Steps to Take Now

      Aug 13, 2018

      Did you know that a non-smoking 65-year-old woman today has a 50% chance of living until 88? A non-smoking 65-year-old man has a 50% chance of living until 85? That's how life expectancy works - the longer you live, the more likely you will live lon

      4 min read

    • Article

      Choosing The Right Property Manager

      Aug 1, 2019

      The guiding legislation around residential property management is primarily the Residential Tenancies Act 1986. But that’s not the only legislation landlords need to be aware of when it comes to renting out their properties. The likes of the Human Ri

      3 min read

    • Article

      Trans-tasman Tax Issues

      Dec 2, 2021

      Matthew Gilligan is a property investor, developer and tax adviser. He is managing director of chartered accounting firm Gilligan Rowe & Associates, where he heads the specialist property and asset planning divisions. Kris Pedersen of Kris Pedersen

      5 min read

    Related categories

    Reviews for The Thinking Man's Mortgage

    0 ratings

    0 ratings0 reviews

    What did you think?

    Tap to rate

    Review must be at least 10 words

      Book preview

      The Thinking Man's Mortgage - Alan Atack

      The Thinking Man’s Mortgage

      Alan Atack

      Smashwords Edition

      Copyright Alan Atack, 2009

      This eBook is licensed for your personal enjoyment only. This eBook may not be re-sold or given way to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return to Smashwords.com and purchase your own copy. Thank you for respecting the hard work of this author.

      Publication disclaimer

      The information contained within this publication is of a general nature only, the author does not accept any responsibility or liability for any direct, indirect, incidental, consequential, special, exemplary or punitive damage, or for any loss of profit, income or any intangible losses, or any claims, costs, expenses, or damage, whether in contract, tort (including negligence), equity or otherwise, arising directly or indirectly from, or connected with, your use of this publication or your reliance on information contained within this publication.

      Table of Contents

      Introduction

      Chapter 1 - What does History tell us?

      House prices

      Income statistics

      Interest rates

      Chapter 2 - A look at the real world

      Who are you working for?

      What are you working for?

      Mortgages in real life

      Mortgages for life

      Chapter 3 - The structure of a mortgage

      Calculating the numbers

      The early years

      Halfway through

      Prequel & sequel

      Floating, fixed, revolving or otherwise

      Examples

      Chapter 4 - Calculating a shorter mortgage

      Start before getting started

      The home mortgage calculator

      Demolish a year off the mortgage

      Interest rate fluctuations

      Chapter 5 - Finding the money

      Extra repayments, how tough is that?

      Earning more

      Adjust for inflation

      Spending less

      The art of receiving

      Chapter 6 - Family investment

      Chapter 7 - Myth-Busting

      Fortnightly repayments

      Revolving credit

      Save it for a rainy day

      Consolidate the debt

      A word about money

      Chapter 8 - Time to think ahead

      Crystal Ball gazing

      The five year plan

      The other five year plan

      The half-mortgage plan

      A word about your budget

      A final note

      The word ‘mortgage’ comes from the Old French dead pledge, apparently meaning that the pledge ends (dies) either when the obligation is fulfilled or the property is taken through foreclosure.

      Wikipedia

      * * * *

      Introduction - The Thinking Man’s Mortgage

      The purpose of this book is to provide advice and access to some tools that will help you to pay off your mortgage more quickly. It’s as simple as that!

      This is not advice on how to get rich quickly; it is not about property investment or property development; it is definitely not a dubious scheme to buy into, nor is it an alternative investment idea, and it is not pyramid selling.

      I intend to take you on a journey, looking at what has passed before and what might happen in the future, so that you think about your situation and what you could achieve by setting some goals for financial freedom.

      It is never too early to begin the process of paying off a mortgage, even if it is three or four years before you actually buy a house. And it is never too late to start the process of becoming mortgage free sooner, regardless of when your mortgage is due to be fully repaid.

      Although their home is the biggest investment that most people will make in their lifetime, they seldom talk about the biggest liability that comes with it. In fact the subject of mortgages is almost taboo unless your banker or broker is in on the conversation!

      We rarely share our financial experiences with friends or colleagues and even close family are usually excluded.

      This book is an opportunity to bring mortgages out of the cupboard and onto the dinner table, to talk through the good and bad experiences so that the next generation can learn from what has already passed.

      As we work through the following chapters you will learn to use the tools and develop the skills that will enable you to reduce the length of your mortgage by manipulating the payments that you make.

      So, where do we start……….

      * * * *

      Chapter One - What does History tell us?

      Before taking a look into the future, or even a look at where you are at the moment, let’s take some time to see what has occurred in the past. The trends for income, house prices and interest rates are all related and will help paint a picture of what is likely to happen in the next 20 to 30 years.

      House Prices

      Your local Real Estate Institution will be tracking median property prices based on their sales statistics and the following table is a summary of these values in my neck of the woods. By grouping all house sales from one area, adding the dollar values together and then averaging them, a typical ‘median’ sale price is calculated.

      At first glance this is just a mass of numbers, so to avoid confusion some explanation may be helpful. In the table, each dollar value represents the median house sale during January of each year in each location. For example, from all house sales in January 1998 in City C, the median was calculated to be $155,000, and just ten years later, in January 2008, this had increased to $325,500.

      Enjoying the preview?
      Page 1 of 1