Copyright © 2004 Frankel Financial Corp.

$220,000 Major Sub-Prime Debt Consolidation

Description: Most couples would probably find it hard to keep up with over $50,000 in revolving debt, a mortgage, three kids under the age of five, and full time jobs.  That is the profile of a recent borrower referred to Frankel Financial Corp. by their local banker.  That banker happened to be a relative of the borrowers and knew that FFC would provide the best debt consolidation solution available.  The borrowers’ 514 middle credit score added considerable challenge.  Thanks to FFC’s super aggressive sub-prime residential products, we did provide the best solution 

Solution: Frankel Financial Corp. advanced an 83% loan-to-value against the residence consolidating the first mortgage, the home equity loan, over $50,000 in revolving debt—while providing the borrowers with over $9,000 cash out to establish a tax reserve account.  We strategically placed the borrowers in a 2/28 – a thirty-year loan which carries a fixed rate for the first two years.  This product is perfect for borrowers who reestablish their credit and plan to refinance once their turnaround is complete.  The interest rate was fixed at 8.125% for the two-year period.  The monthly cash flow savings was over $2,000.  That’s not bad when your combined gross monthly income is $5,300!!!

455 Pennsylvania Avenue Suite 2LF • Fort Washington, PA 19034
(215) 641-9700 • (215) 641-0498 • info@frankelfinancial.com