By Warren Johnston
December 5, 2008
This is a book of dreams. For the average person, having no mortgage seems almost impossible without winning the lottery. Rob Roy offers some suggestions:
If you have a mortgage and want to be free of it, Roy has some painless tips, such as making two half-payments on your mortgage each month instead of one full payment (that saves nine years), paying an extra $50 against the principal (that saves $800 in the end) or using a mortgage software system that can cut the years of a mortgage by one-third to one-half.
But the real purpose of the book is to explain how to avoid a mortgage in the first place. For that you have to start from the beginning, buying the land and building the house. The book is a how-to guide for being mortgage-free, which also includes developing a sustainable habitat that makes other fixed costs such as heating affordable.
Roy is the director of Earthwood Building School and the author of five other books. He lives mortgage free in West Chazy, N.Y.