Released on = March 2, 2006, 7:36 am

Press Release Author = Camelot Marketing

Industry = Financial

Press Release Summary = Southern California Foster Home refinances to re-model and
improve living conditions. Pay Option Mortgage refinance loan proved to be the
ideal solution to utilize home equity and reduce monthly payment.

Press Release Body = "In this business we hear many stories of why people need to
refinance. Every now and then one story sticks in the mind," states Donovan Rees of
GoldMedalMortgage.com

\"We recently received a call from Angela P. who needed to refinance her California
home. At first it started out normally, but then more specific needs for refinancing
came to the surface."

"Angela and her husband are foster parents that care for several \"crack\" babies in
their home. These babies have been taken away from their mothers at birth because of
testing positive for an illegal substance during labor."

\"She wanted to refinance and use the equity in her home to remodel and add a
bedroom. This extra bedroom would make it more comfortable for the two teenage and
two newborn children currently in the foster home,\" continues Rees.

\"For their situation it was decided that refinancing with a Pay Option mortgage loan
program would give them the cash flow needed to cover shortfalls. It also lowered
their mortgage payment over $1500 a month.\"

A Pay Option Mortgage Loan allows the complete flexibility to decide, every month,
which of four mortgage payments a borrower would like to make.

This program is ideal for anybody that has fluctuating income such as the
self-employed. Pay Option is also an excellent choice when looking to buy a new home
for the lowest possible monthly payment, or for simply just lowering an existing
mortgage payment.

The Pay Option Mortgage is a relatively new product that allows you four payment
options each month.

1. 15 year payment- Pay the loan off and build equity faster as well as save
thousands of dollars in interest

2. 30 year payment- This option will allow borrowers to own the home free and clear
in the standard thirty years

3. Interest only option- This option allows payment of only the interest portion of
monthly payment which in turn increases monthly cash flow

4. 1% Minimum payment- This option allows you to pay at a 1% rate of interest for
maximum savings

The Pay Option Mortgage is the absolute best adjustable mortgage product available
today. It has built in features that protect borrowers from the typical worries
associated with an adjustable rate mortgage.

One is the fact that your payment cannot increase more than 7.5% above the previous
year for the first five years. Another gives you the option to convert to a fixed
rate mortgage after the first three years. With these features in place you can rest
easy with your new adjustable mortgage.


Here is an example of savings on a refinance using a Pay Option Mortgage:

Estimated Current Monthly Payment - $1663.26
New first year payment - $833.13
Estimated increased monthly cash flow- $830.13
Estimated increased yearly cash flow - $9961.52


This loan may have negative amortization. Max increase/decrease in monthly payment
is 7.5% per annum for the first five years. This is an ARM product.

Example payments based on 7.0% interest rate and $250000 loan.

\"During Angela\'s refinance loan process we had a chance to visit and were impressed
by the cleanliness of both Angela\'s home and all the kids. It\'s a challenge to keep
up the house and the kids and the homework.\"

\"This is clearly a great family that is providing love and shelter to innocent
children victimized by addiction. In support of Angela and her husband\'s dedication
to this cause, it was decided to waive our fees and pick up the costs involved in
the refinance."

"It was felt this was the least we could do for this amazing family, a family that
breaks even financially after buying clothes and food for the kids. For Angela and
her husband, this is truly a labor of love!\" concludes Rees.



For more information on refinancing with Pay Option Mortgage Loans please call
1-866-398-4664 or go to

Camelot Marketing is a full service agency based in Southern California specializing
in providing turnkey solutions for small to mid-size clients that do not have
in-house marketing capabilities. For more information call Keith Hunt 909-987-1233.


Web Site = http://www.goldmedalmortgage.com

Contact Details = Keith Hunt
8190 Orchard Street
Alta Loma , 91701
$$country

9099871233
camelot21@mindspring.com
http://www.goldmedalmortgage.com