updated 4/27/2011 11:17:01 AM ET 2011-04-27T15:17:01

WASHINGTON, April 27, 2011 (GLOBE NEWSWIRE) -- Shifting incomes and reduced home values in the wake of the housing market downturn and Great Recession caused many borrowers to find themselves trapped in their existing loans – unable to refinance and take advantage of lower interest rates.

A new consumer-friendly mortgage product, the HarmonyLoan, allows borrowers to avoid this trap in the future: The HarmonyLoan allows borrowers to lower their interest rate to market – without ever refinancing their loan again.

Homebuyers can quickly and easily reset their HarmonyLoan by accessing a state-of-the-art, 24/7 web interface. Upon resetting, they have the advantage of an at-market lower interest rate without the cost, hassle and hurdles of a traditional refinance or new mortgage.

Washington, D.C.-based Warren Capital Group is the first wealth management firm in the nation to offer the HarmonyLoan to consumers.

"Properly growing net worth requires managing both the asset and liability sides of a personal balance sheet," says Joseph Warren, founder and CEO of Warren Capital Group. "While most investment advisors manage their clients' assets, we are the first to be able to help manage what is often our client's biggest liability – their home mortgage."

Warren Capital believes the HarmonyLoan removes the costly inefficiencies of the mortgage process and affords greater economic security to clients.

"By not only being cognizant of their interest rate but also being able to help them reset their rate without any cost when the rates are most attractive, we dramatically reduce our clients' mortgage liability and increase their homeownership," Warren says.

Consumers often don't understand the implications of refinancing.

Each time homeowners refinance, they subject themselves to a new 30 year amortization schedule. That means that the vast majority of their monthly payment is going toward paying interest rather than paying off the principal they owe.  As a mortgage calculator and amortization chart show, it is not until year 17 of a 30 year loan that more of the monthly payment goes to principal than interest.

The HarmonyLoan allows consumers to get the best mortgage rate available without backsliding on the amortization schedule as occurs with a traditional refinance.

To learn more about the HarmonyLoan™ please contact Warren Capital Group at 888-262-1040 or email jrw@warcap.com. To schedule a press interview with Mr. Warren, please contact Simona Sanders at Warren Capital Group.

Release Link: http://www.themarketsvalue.com/2011/04/warren-capital-group-is-first-wealth-management-firm-to-offer-harmony-loan-mortgage-consumers-reset-interest-rate-without-ref.html

Warren Capital Group is a registered investment advisor specializing in wealth protection and growth for high net worth individuals, institutions, foundations, and corporations. As a fee-based private wealth management firm, Warren Capital Group assists clients with asset allocation, risk management, estate planning and liability management via mortgage services.

CONTACT:  Warren Capital Group
          2 Wisconsin Circle, Suite 700
          Chevy Chase, MD 20815

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Data: Latest rates in the US

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Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
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