Browsing Category: "Financial Press Release"
Online consumer lender delivers better options for unsecured loans to fund anything, including home improvements, vacation ownership, education, medical expenses and more.
San Diego, CA () October 1, 2008 -- Every week the adage "you can take it to the bank" seems more outdated as the banking industry dumps more bad news on consumers. The news of banks failing has consumers in a panic. Big-name lenders are reducing or freezing existing home-equity lines of credit. Others have put the brakes on auto leases and are making it harder to get loans for education, home improvement, vacation ownership and more. Moreover, traditional lenders continue to treat all borrowers the same--with undifferentiated products and indifferent service.
FirstAgain.com supplies unsecured loans to individuals with excellent credit.
Despite traditional bank woes, FirstAgain LLC, an online consumer lender focusing on individuals with excellent credit, continues to gain momentum with an easier and faster way to fund anything, including home improvement projects. The company's AnythingLoan, a revolutionary, unsecured loan product that combines low rates with an unparalleled customer experience, is a convenient alternative to ever-shrinking financing options.
News Facts:
- San Diego-based FirstAgain® LLC focuses exclusively on providing low-rate, online unsecured personal loans to individuals with excellent credit.
- FirstAgain's AnythingLoan is a completely paperless, online unsecured personal loan that can be applied for, approved and signed online.
- AnythingLoans can be used for any purpose, including adoptions, aircrafts, autos, boats, classic cars, club memberships, education, fertility expenses, fractionals, home improvements, horses, marine products, medical expenses, motorcycles, pools, RVs, solar, timeshares, weddings or anything else.
- AnythingLoans are a welcome alternative for home improvement financing without the hassles or concerns people have when borrowing against home equity or retirement savings.
- Home improvement loans are one of FirstAgain's fastest growing loan categories as the company has achieved five-fold growth year-over-year.
- FirstAgain has surpassed $100 million in online unsecured loans and is gaining market momentum with thousands of highly satisfied customers nationwide.
- Online unsecured personal loans, with same-day funding, are available in amounts ranging between $10,000 and $100,000.
Supporting Resources:
- Customer: "The easiest loan experience I've ever had," Cyndi Kroop
- Executive: "Getting a loan shouldn't be a painful process," Gary Miller, FirstAgain co-founder and CEO.
- Executive: "Individuals with excellent credit deserve a better experience," Dave Zeller, FirstAgain co-founder, president and COO.
Relevant coverage:
- Barron's:
- TheStreet.com:
- NetBanker:
Supporting Quotes:
- Gary Miller, FirstAgain co-founder and CEO: "People with excellent credit are underserved by traditional lenders and we are changing that with our AnythingLoan--an incredibly positive loan experience for consumers who have worked hard to develop excellent credit profiles. FirstAgain rewards them with specially tailored loans and a great customer experience regardless of market conditions."
- Theresa Emfinger, FirstAgain customer/Education Loan: "The regular financial aid programs just weren't going to be enough. I was looking for things like credit card advances, but then I came across FirstAgain. I kept thinking there has to be a trick here. It was just such a simple experience. I really appreciate having a service like this out there. With all the bad news surrounding the credit industry right now, it's nice to know it doesn't have to be that hard. FirstAgain gives borrowers peace of mind."
- George Zandiotis, FirstAgain customer/Home Improvement Loan: "I considered borrowing against my 401(k) for a home improvement loan, but it just didn't make sense. FirstAgain was a breath of fresh air. I was absolutely shocked when I saw how quickly the whole thing happened. I had my loan approved and funds deposited into my account within a day."
- Elizabeth Rowe, Group Director of Banking Services for Mercator Advisory Group: "Financial institutions don't always treat their customers the way they should, which is why I love the touch of human consideration that FirstAgain brings to consumer lending. The AnythingLoan is the first truly win-win loan product. The vastly improved lending experience gives consumers a much better way to secure financing, which will propel FirstAgain's continued market momentum."
About FirstAgain:
FirstAgain LLC is redefining consumer lending for individuals with excellent credit. The San Diego-based company has developed a completely paperless, online experience for applying, approving, signing, funding and servicing unsecured personal loans. FirstAgain's AnythingLoan can be used for any purpose, including home improvements, vehicle purchases, educational and medical expenses, timeshares, vacation ownerships, marine products, loan refinancing and anything else. Most AnythingLoan finance amounts range from $10,000 to $100,000 with low rates, same-day funding and an unparalleled customer experience. Timeshare and fractional financing loan amounts start as low as $7,500. FirstAgain was founded by the pioneering veterans of PeopleFirst, a company which grew into the nation's largest online auto lender prior to its sale to Capital One in 2001. The company operates nationwide and has financial investments from Merrill Lynch and Arsenal Capital Partners.
Proven step-by-step strategy for preventing foreclosure, negotiating with lenders, and rebuilding credit is featured in new book The American Nightmare. FREE downloadable excerpts from the book now available at
Washington, D.C. () October 1, 2008 -- A new book offers a lifeline to homeowners unable to make their mortgage payments. Authored by veteran housing counselors, Sylvia Alvarez and Walter Walker Jr., the book, titled The American Nightmare, offers distressed homeowners valuable tips to help avoid, survive and overcome foreclosure. Readers will learn about the most common reasons why people end up in foreclosure, the lender's perspective in the foreclosure equation and what homeowners can do to negotiate a favorable outcome. Published in partnership with the National Association of Hispanic Real Estate Professionals (NAHREP), from The American Nightmare are available in English and Spanish. A link is also provided to for $14.95.
The American Nightmare Book: Strategies Preventing, Surviving and Overcoming Foreclosure
The authors offer clear, practical advice to distressed homeowners in , including:
- Benefits of contacting your lender as soon as there is a problem;
- Information to have ready when placing a distress call to lenders;
- Special assistance available homeowners with FHA-insured loans;
- Advantages of consulting a HUD-certified housing counselor;
- How to prioritize your debts;
- The importance of preserving good credit when funds for payments start running short;
- Tips for exploring workout solutions with a lender;
- Resources for finding a qualified real estate agent when selling a home;
- What to do when lenders don't respond;
- Warning signs of and how to report them.
"It's important for distressed homeowners to realize that lenders want to help borrowers keep their homes," says Rebecca Gallardo-Serrano, Chairman of NAHREP. "The American Nightmare authors are encouraging open communication between homeowners and lenders while helping to avoid the pitfalls that can lead to further financial and personal damages."
The National Association of Hispanic Real Estate Professionals, a non-profit 501c6 trade association, is dedicated to increasing the homeownership rate among Latinos by educating and empowering the real estate professionals that serve them. Based in Washington D.C., NAHREP is the premier trade organization for Hispanics and has more than 15,500 members in 48 states and 62 affiliate chapters.
No free ride solution, Howard Dvorkin devises a plan that keeps American's in their homes without relying on a taxpayer bailout. The $700 billion bailout plan does little to avert foreclosures, the root of the crises. Banks and lenders who granted unstable loans should get a 40 percent penalty and consumers should be offered 50+ year mortgage repayment plans.
Ft. Lauderdale , FL () October 1, 2008 -- America needs a plan that does not reward people for bad behavior and at the same time keep people in their homes, without having taxpayers pick up the tab. Currently nearly $100 billion worth of loans are deemed at risk for foreclosure over the next two years as borrowers with adjustable rate mortgages, see rates adjust. Some borrowers with these loans are being informed now of payment changes and the bulk of those loans will reset in 2010.
"The housing calamity is at the heart of the problems that our economy is facing right now," says CPA, personal finance expert, author, founder of and former consultant to the Resolution Trust Corporation hat focused on bank work-outs in the late 1980s. "Looking at the numbers it seems the average increase in mortgage payments will be 65 percent and payments could jump by as much as 100 percent for some people," he continued.
Until now, the majority of the was caused by subprime loans -- those with high interest rates made to borrowers with poor credit. However, borrowers at risk now on average had good credit but stretched their budgets with option- ARM loans.
Howard Dvorkin is proposing a viable solution to help solve the mortgage and crisis in the United States. "Once mortgages have been taken over by the newly formed government agency, they should only pay the surrendering bank 60 percent of the original loan value. The 40 percent loss from the original lender would be funneled back into the governmental agency to help fund any necessary related expenses. Once the loan is transferred, the homeowners would then be allowed to enter into a 50 or 60 year mortgage at the prevailing interest rate, assuming no negative amortization occurs," said Dvorkin.
"The key is to get the monthly mortgage payment amount similar to when the consumer first took the loan out, before the ARM reset. Extending principal payments over 50 or 60 years, would allow the consumer to be responsible for the principal amount of the original mortgage. This plan would require some tax law modifications but it would keep American's in their homes," continued Dvorkin.
Dvorkin's proposed plan will punish all parties involved. Punishing lenders for giving loans to people who couldn't afford them and those consumers who knew they would not be able to afford the mortgage long-term. Nationwide, there have been 2 million filings this year and RealtyTrac, a company that monitors foreclosure activity, projects 2.5 million additional over the next year.
Note to Editor:
Howard Dvorkin available for interviews
Contact: April Lewis -Parks 954-377-9344 /Alewis@ConsolidatedCredit.org
AVAILABILITY: Florida , nationwide by arrangement and via telephone