Americas Watchdog is endorsing Lenox Financial's up front closing cost approach as ethical and a very sound approach for financing or refinancing a home. The Lenox Financial approach is very simple--pay a slightly higher interest rate, and your closing costs get paid by the lender. The group says, "Most homeowners do not have the $5000-$10,000 needed to close a home loan. With the Lenox Financial approach, they charge a slightly higher interest rate and the borrower saves thousands in upfront money to close the loan." Americas Watchdog is saying, "in the Lenox Financial approach, where closing costs are paid by the lender upfront, most borrowers save money over time, given the upfront cost-recapture rate." They say, “given the fact that the average US homeowner only stays in their home seven years, the Lenox Financial approach is practical, it's honest, and a very smart choice, for many, to most US homeowners." For more information about Lenox Financial please call them at 1-866-458-6075, or contact the group via its web site at www.LenoxFinancial.com
( Vocus/PRWEB ) May 24, 2010 -- Americas Watchdog has endorsed Lenox Financial for giving homeowners a very straight-forward approach to mortgage refinancing and/or a home purchase. The Lenox Financial mortgage transaction is simple--they charge a slightly higher interest rate, and they pick up the thousands of dollars in allowable closing costs for doing the mortgage refinance or home loan. The group says, "for the average high credit-very high credit quality homeowner wishing to refinance, or a buyer wishing to purchase a home, Lenox Financial's way of doing a mortgage is very smart, because it saves the borrower thousands of dollars up front. It makes even more sense when you calculate the recapture rate of the upfront costs of doing a mortgage." For more information please call Lenox Financial at 1-866-458-6075, or contact the group via its web site at www.LenoxFinancial.Com.
Americas Watchdog is saying, "many homeowners become too absorbed about getting the lowest possible interest rate, without realizing closing costs, actually increase the rate. Further, in the case of Lenox Financial, frequently they are providing homeowners with mortgage interest rates that are just as good as brokers, and/or major banks; the big difference--they pay all allowable closing costs. We call that a win-win." Americas Watchdog's National Mortgage Complaint Center is one of the most quoted sources in the US on predatory mortgage lending. The group has been quoted in the Wall Street Journal, Newsweek Magazine, Good Housekeeping Magazine, Money Magazine, CBS Market Watch, the Los Angeles Times, and numerous other news sources.
According to Lenox Financial, "our surveys found that on any given day Lenox's no closing cost rate is comparable to that of many other lenders are charging full costs."
Americas Watchdog is saying, "for a $200,000 mortgage at 4.75% the monthly principal and interest payment is 1043.29; at 5.25% the monthly mortgage payment would be $1104.41. The difference $61.12 per month. On a standard mortgage it might take the average homeowner 5 to 7 years to get their money back." Americas Watchdog says, "for this reason we think for many US homeowners or individuals wishing to buy a home, the Lenox Financial mortgage approach makes sense, and we endorse them and their mortgage program for its ethics and for being a smart alternative for almost anyone." For more information about Lenox Financial please call them at 866-458-6075, or contact them via their web site at www.LenoxFinancial.com.
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