Roger Schlesinger

The author of the book The Millionaire Next Door suggests that if you give up smoking and save the money you have been spending on smoking you can save a very nice amount of cash in your life time. If you invest the money into tobacco stocks you probably will become a millionaire. Now that is what I call a good tip. So I have gone to my tip book to give you some good ideas.

If you have or are considering a $350,000 mortgage, and your choice is a 30 year fixed, I have a better idea for you. If you think you cannot afford a 20 year fixed let me show you how easy it is. Save $85 a weekend out of the normal hundreds of dollars you generally spend and you can afford a 20 year fixed. You will save almost $250,000 in payments you won't have to spend because you will be cutting 10 years off the life of the loan.

Many people have subscribed to the idea that bi-weekly mortgages will save them years of payments when in reality a bi-weekly mortgage simply means 13 payments a year instead of 12. The extra payment is the secret, not the way you make the extra payment. In fact, you will do much better by making 2 payments in the beginning of the year because you are paying down the principal, and each subsequent payment during the year will have a larger principal payment and a smaller interest payment.

These are just a couple of ideas that will save you money. We have many more so call us at Manhattan West 949-5553 or write to me We will help you save money and shorten your amortization. We find these are not mutually exclusive goals. Remember time is money so contact us soon.

Roger Schlesinger

Roger Schlesinger's Mortgage Minute is heard on hundreds of radio stations and daily on the Hugh Hewitt radio show and Michael Medved shows. Roger interacts with his hosts and explores the complicated financial markets in order to enlighten his listeners and direct them along their own unique road to financial freedom.