Released on: September 6, 2007, 6:28 pm

Press Release Author: American Mortgage & Real Estate Group

Industry: Real Estate

Press Release Summary: Home Equity Line of Credit allows borrowers who wish to keep
their first mortgage in place to use their equity for such things as debt
consolidation, purchase of other properties and/or home improvements. But if used
smart it can help homeowners to pay off their property mortgage debt in half the
time. For this example we are going to assume that you will be able to take your
HELOC at 3.99% rate for $50,000 and use it to pay down your 30 Year Fixed Mortgage
by that amount every year. So, what happens here you stop paying let\'s say 6.5% rate
that you are paying on your 30 year fixed and start paying 3.99% using California
HELOC Advantage provided by American Mortgage & Real Estate Group.

Press Release Body: Home Equity Line of Credit allows borrowers who wish to keep
their first mortgage in place to use their equity for such things as debt
consolidation, purchase of other properties and/or home improvements. But if used
smart it can help homeowners to pay off their property mortgage debt in half the
time. For this example we are going to assume that you will be able to take your
HELOC at 3.99% rate for $50,000 and use it to pay down your 30 Year Fixed Mortgage
by that amount every year. So, what happens here you stop paying let\'s say 6.5% rate
that you are paying on your 30 year fixed and start paying 3.99% using California
HELOC Advantage provided by American Mortgage & Real Estate Group.

How it works.
Bank your money in your mortgage. With the Home Equity Line of Credit, you
direct-deposit your entire paycheck into your mortgage, instead of your checking
account. This immediately reduces your principal balance. Since interest is based on
your daily balance, you start saving interest immediately compared to traditional
loans! Access your funds just like you used to. You pay all of your expenses out of
your mortgage, just like you would with a traditional bank account -- using the
unlimited checks, free ATM/Debit card, and free online bill-pay that comes with the
account. Until you need the money, though, it\'s in your mortgage in the form of a
lower principal balance, saving you 5-6% in mortgage interest, instead of earning 1%
in a bank account. Less interest means that more of your take-home pay goes towards
principal, and you pay off sooner. With no change to spending habits!

How effective is it?
If you\'re an average borrower with good cash flow, you could pay off an average
sized loan in as little as half the time - with no changes to spending habits.

Let\'s look at an example:
Imagine you have net pay of $100,000 annually, saving 15% of your net income after
expenses, and you have a $400,000 30-year fixed-rate mortgage at 5.5%. And, let\'s
even assume that mortgage interest rates are climbing on a \"reverse course\" that
mirrors their recent decline (APR 8.19%)! A \'worst case\' rate scenario!\"

Saves interest, pays off sooner.
In this example, following our strategy you roughly double your mortgage efficiency.
You could pay off in as little as 17.3 years and save nearly $89,000 (21%) in
interest, compared to the 30-year fixed rate loan at 5.5%. In fact, to save that
much interest, you\'d have to find a 30-year mortgage at 4.4%, which is very
unlikely.

Advantages and highlights of Home Equity Line of Credit:

* No Income Verification Program Available
* Low Rate
* No Rate Adjustments Based on Score and/or Loan Amount
* Up To $500,000
* 3.990% Rate with 3.998% APR
* Interest Only Payments
* Next Day Approval
* No Upfront Fees
* No Appraisal Fees
* No Credit Report Fees

About Vladimir Rozumniy and American Mortgage and Real Estate Group (AMRE Group):

Vladimir Rozumniy is the President of American Mortgage & Real Estate Group,
established in 2004, got its start with the idea that by using technology it can
save a lot of money researching lenders and pass on those savings to its clients. It
now offers its services nationwide for commercial loans and statewide for
residential loans, and consists of two divisions (residential and commercial lending
departments). Based in Glendale, California, it has met with success through
competitive pricing and outstanding customer service. You can contact American
Mortgage & Real Estate Group via www.amregroup.com or by calling toll free
866-357-1707.

Web Site: http://www.amregroup.com

Contact Details: American Mortgage & Real Estate Group
1314 W Glenoaks Blvd Ste 102
Glendale, CA 91201
Tel: 818-303-3122