Homeowners Save Big with Debt Consolidation

Site Empowers Users with Unique Savings Tool

Over two million adjustable rate mortgages will be adjusting upward in coming months. This increase in payments, combined with consumer debt at an all time high of $2.39 trillion, will put additional financial pressure on many homeowners.

Debt Consolidation is one answer for homeowners who have some debt and some equity in their home. It's done by refinancing the first or second mortgage and paying off consumer debt.

Debt Consolidation provides multiple benefits for homeowners in this situation. It can lower overall monthly payments. It can lower the overall interest rate, called the "blended rate". It can also provide additional tax benefits since interest on consumer debt is not tax deductible but mortgage interest usually is. It can help achieve financial goals by freeing up money that can be saved or invested. Finally, debt consolidation can simplify finances by combining numerous monthly payments into one payment.

However, most homeowners don't realize their debt consolidation possibilities. LionSaves.com is an online resource that provides personalized answers with no contact information or e-mail registering required. All of this with no pressure, no hassle and no catches. It's specifically designed as a debt consolidation tool that gives real numbers, not misleading or "teaser" rates. It shows the user how much they can save and others they're better off to do nothing.

LionSaves.com performs hundreds of calculations to produce accurate results. It assesses the loan options available based on such variables as the state, county taxes, house value, equity in home, and the amount of consumer debt. If there isn't enough equity to payoff all consumer debt, it analyzes the debt and ranks the payoff order to maximize the monthly savings. The end result is an application allowing users to get answers in seconds that would normally take a loan officer hours to calculate. Then, it shows if savings are possible and gives the user a complete analysis of the interest rate and closing costs to make an informed decision.

Introducing a modern business model to an age-old industry is no small task. The site has taken over a year to build for the version 1.0 release. It's currently available in SD, ND, CO, UT, ID, NM and WY and will soon be nationwide. LionSaves is a HUD approved lender and uses FHA, Fannie Mae and 2nd mortgage refinances to consolidate debt. It's designed for homeowners with debts who have at least average credit, some equity in their home and are employed. First mortgages go up to $417,000 and the second mortgages to $150,000. It's not for rental properties, poor credit or foreclosures.

Homeowners can play with multiple scenarios and feel secure knowing their contact information is given only if they decide to apply for a loan. Combining consumer debt into a new mortgage doesn't save everyone money. It depends on each situation. Homeowners can find out instantly if they can save. If so, LionSaves is an actual mortgage lender that offers all loans shown.

New Site Launches Free Debt Consolidation Tool for Homeowners

Small Patent Pending Startup Changing Mortgage Industry

FOR IMMEDIATE RELEASE

September 27, 2007

contact: Mike Sweeney
e-mail: sweeney@LionSaves.com
cell: 303-929-8002

Centennial, CO - Amidst the mortgage industry meltdown, internet startup LionSaves.com announces its launch in seven states. With an industry changing business model, it promises to shake the foundation of large mortgage websites. Founded by Mike Sweeney, the site has been over a year in the making and is designed specifically for homeowners to consolidate debt.
"The recent mortgage mess is due in large part to the high pressure sales approach the industry takes with consumers. Pushy, and sometimes unscrupulous, commissioned salespeople misguide consumers into risky loans. Plus, large sites like LowerMyBills, LendingTree and NexTag aren't lenders, but rather lead generators. They collect the user's name, number and e-mail and sell it off to four lenders. Some lead generation sites actually sell collected info off to other sites. All of this leads to more pushy sales calls and spam," said Sweeney.
A common tactic is to advertise a hook to draw people to a site. Ads show a 1% interest rate or a really low payment, which quickly increase after the consumer gets the loan. "It's no different than a used car dealer advertising a SUV getting 50 miles to the gallon….downhill. It's not the whole truth and it's a big reason why so many homeowners are in trouble." Sweeney adds, "It's essentially bait and switch. I think consumers are fed up with it and with their info being sold off to, well…who knows who?"

The LionSaves model is based on consumers preferring personalized answers instantly without having to give any contact information or talk to a salesperson. "It's the first website of its kind. No pressure, no hassle. I think the average consumer is very intelligent and will appreciate this approach. It shows instantly if savings are possible by consolidating debt with a new mortgage.", he said.

After 12 years in the mortgage business, he realized many homeowners don't know how much they can save by consolidating their debt. However, most also dread having to talk to a salesperson. There was no website that gave personalized information instantly or didn’t require the user to give their contact information.

"So, I thought, why not have a site to let homeowners discover answers instantly yet remain anonymous. An online tool giving real numbers, not misleading or "teaser" rates. It would help some people learn they can save, and others they're better off to do nothing."

By taking out the sales pressure and focusing on empowerment through education, the site offers a new solution. It explains the different types of loans and both the pros and cons for the consumer. "I believe consumers can make good choices if they know enough about the good and the bad of their options.", he said.
More than two million adjustable rate mortgages (ARMs) are poised to reset at much higher rates in coming months. Combined with consumer debt at record highs, many homeowners will need to consolidate their debt to keep their overall payments down. "This site is a valuable resource since it empowers the user with personalized and accurate results, instantly. No catches.", he noted.

By offering users an unheard of resource, LionSaves is breaking new ground. The site performs hundreds of calculations to produce accurate results. It assesses the loan options available based on such variables as the state, county taxes, house value, equity in home, and the amount of consumer debt. If there isn't enough equity to payoff all consumer debt, it analyzes the debt and ranks the payoff order to maximize the monthly savings. The end result is an application allowing users to get answers in seconds that would normally take a loan officer hours to calculate. Then, it shows if savings are possible and gives the user a complete analysis of the interest rate and closing costs to make the an informed decision.
Introducing a modern business model to an age-old industry is no small task. The site has taken over a year to build for the version 1.0 release. It's currently available in SD, ND, CO, UT, ID, NM and WY and will soon be nationwide. LionSaves is a HUD approved lender and uses FHA, Fannie Mae and 2nd mortgage refinances to consolidate debt. It's designed for homeowners with debts who have at least average credit, some equity in their home and are employed. First mortgages go up to $417,000 and the second mortgages to $150,000. It's not for rental properties, poor credit or foreclosures.

Homeowners can play with multiple scenarios and feel secure knowing their contact information is given only if they decide to apply for a loan or sign up for the free e-mail alert based on triggers they set. Combining consumer debt into a new mortgage doesn't save everyone money. It depends on each situation. Consumers can find out instantly if they can save. If so, LionSaves is an actual mortgage lender that offers all loans shown.

Sweeney also envisioned the company making a difference in the world by helping people in need. So, along with the company's monthly donation, a $25 charitable donation is made on every file. Clients choose which pre-selected charity will receive the donation from their file. In an industry that's overly focused on the bottom line, LionSaves.com gives back and lets users decide how.