Washtenaw Mortgage Company Introduces Buyer-Friendly Mortgages
2005年6月1日 - 3:30AM
PRニュース・ワイアー (英語)
Washtenaw Mortgage Company Introduces Buyer-Friendly Mortgages ANN
ARBOR, Mich., May 31 /PRNewswire-FirstCall/ -- Which is more
painful? Root canal or mortgage application? Some people would pick
the root canal. Especially "Alt A" mortgage applicants who have
neither the patience nor inclination to search for personal
paperwork or complete stacks of application papers. "Alt As," as
the mortgage industry terms them, are homebuyers who don't fit the
typical homebuyer mold. This includes a broad range of individuals
from legal aliens, to the self-employed, to physicians and lawyers.
Washtenaw Mortgage Company's new Blue Ribbon Plus mortgages make
the mold fit the buyer. Blue Ribbon Plus mortgages eliminate much
of the documentation and most of the paper hurdles of traditional
mortgage lending. For example, Washtenaw offers mortgages that
don't require employment or income verification -- bothersome
requirements under traditional mortgages for self-employed
individuals or individuals whose livelihood depends on seasonal
sales or commissions. Washtenaw Mortgage can also approve mortgages
when buyers' personal assets aren't verifiable or leveraged through
investments, real estate or otherwise. The new rules also apply to
investment properties and second homes, a boon to homeowners
looking for a way to buy a vacation home before prices skyrocket
further. Loan amounts typically range up to $650,000. Blue Ribbon
Plus mortgages also ease eligibility requirements. This enables
people to qualify for mortgages with smaller down payments and
lower credit scores. Washtenaw Mortgage Company, which launched
40-year mortgages earlier this month, also offers traditional
loans, such as 30-year fixed rate, its new 40- year fixed rate, and
the new flexible loans, such as interest-only loans and 3- to
5-year interest-only ARMs. For information or to apply, call Billi
Clair at 800-765-5562, or apply online 24 X 7 at
http://www.washtenawmortgage.com/ . Washtenaw is an industry leader
in online mortgage processing. Washtenaw Mortgage Company, the
wholly owned subsidiary of The Washtenaw Group, Inc. (AMEX:TWH), is
one of the nation's leading wholesale mortgage companies. It
originates, acquires, sells and services mortgage loans. The
Company is headquartered in Ann Arbor, Michigan, and conducts
business through some 2,000 mortgage brokers in approximately 40
states. DATASOURCE: Washtenaw Mortgage Company CONTACT: Joel
Abramson of Washtenaw Mortgage Company, +1-800-765-5562; Howard
Nathan of The Washtenaw Group, +1-800-242-6698; or Mike Marcotte of
Marcotte Financial Relations, +1-248-656-3873, for Washtenaw
Mortgage Company Web site: http://www.washtenawmortgage.com/
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