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One Out of Three Florida Homeowners Has No Idea What Kind of Mortgage They Have

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RISMEDIA, August 24, 2007-LynxBanc announced plans to begin offering a new
Equity Review process designed to determine what decisions Florida homeowners need to take now to protect themselves from further mortgage market fallout.

LynxBanc will be using an industry leading software program to facilitate these Equity Reviews known as The Mortgage Coach(R). This software will provide a consumer friendly and detailed analysis of recast periods, likely rate increases, payment shock and suitability for alternative mortgage programs thereby allowing homeowners to preempt
potentially devastating changes to their budget.

“It is predicted that over 2 million homeowners will lose their homes to sudden, unexpected and devastating increases in their mortgage payments, it’s imperative Florida homeowners know exactly what kind of loan they have, and even more importantly, when and if the loan will recast and go up,” said Stephen Parnell, chairman of LynxBanc Mortgage Corporation.

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Categories: Consumer News and Advice, Financing a Home, In Your Town