[CMF-checkins] Andrew Vaughey, Countrywide Home Loans Encourages Homeowners to Conduct Annual Mortgage Check Up

Super Star candyshop999 at gmail.com
Fri Jan 4 09:05:32 EST 2008

Andrew Vaughey, Countrywide Home Loans Encourages Homeowners to Conduct
Annual Mortgage Check Up

Calabasas, CA (PRWEB) March 19, 2007 -- Countrywide Home Loans encourages
homeowners to conduct an annual mortgage evaluation to ensure that their
home loan terms are still in line with their current financial and personal
circumstances. Many Americans may overlook their home as a useful financial
management tool - indicating a gap in Americans' appreciation of potential
ways to make the best use of a new or existing mortgage. However, depending
on their future plans and expected financial situation, there may be various
mortgage solutions that, in fact, help them manage and achieve their
changing financial goals. Many mortgage lenders, such as Countrywide, offer
free home loan consultations to help homeowners evaluate their home
financing options. Homeowners may also call 1-800-641-8271, for a
no-obligation, free home loan consultation, or visit us

"Many homeowners may feel that they are tied to their original mortgage
loan," said Greg Lumsden, senior managing director and president of
Countrywide Home Loans' Full Spectrum Lending Division. "They tend to
underestimate the potential value of changing their home loan strategies to
meet short-term or long-term goals and match their current life stage. These
homeowners may think of their mortgage as something they're stuck with until
they sell their home, and that just isn't the case any more for many

Homeowners should review their monthly mortgage statement and loan terms
regularly to determine if refinancing would be helpful to their
circumstances. Options might include:
•    Investigating Interest. Obtaining a new loan may be a smart move when
homeowners have a current mortgage with an adjustable interest rate that's
on the rise. They may consider loans with a lower rate, a fixed payment, a
different loan term or other features that match their current financial
situation or long-term goals.
•    Considering Cash-Out. A cash-out
leverage equity as a source of funds needed to meet personal and
financial goals, including home upgrades that may add to the property's
value in the long run.
•    Unlocking the HELOC. Homeowners may choose to open a home equity line
of credit (HELOC)<https://loans.countrywide.com/FTLP/WHNew/SEOP2/default.aspx?from=EN_10&afid=825&sourceid=spr3_133>to
tap funds from available equity to be used for multiple purposes, or
an emergency. Interest rates and monthly payments are generally lower than
on credit card or installment loans and the interest paid is often tax
deductible (a tax advisor should be consulted). Plus, payments are not
usually due until money is accessed, so the unused line of credit provides a
safety net for emergencies.

As with any financial decision, consumers should carefully evaluate their
options and fully understand the advantages and disadvantages before making
a change.

Homeowners can speak with a home loan expert at 1-800-641-8271 or visit
Countrywide Home Loans

About Countrywide Home Loans, Inc.
Countrywide Home Loans, Inc., a member of the Countrywide(R) family -
America's #1 home loan lender - (as ranked for 2006 by Inside Mortgage
Finance, Feb. 2, 2007, Copyright 2007), originates, purchases, securitizes,
sells and services home loans and is the primary subsidiary of Countrywide
Financial Corporation (NYSE: CFC). Countrywide Financial Corporation,
through its subsidiaries, provides mortgage banking and diversified
financial services in domestic and international markets. Founded in 1969
and a member of the S&P 500 and Fortune 500, Countrywide Financial
Corporation is headquartered in Calabasas, California and its family of
companies has a workforce of more than 55,000 in over 900 offices across the

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