SOURCE: National Family Mortgage, LLC

National Family Mortgage, LLC

February 01, 2012 14:05 ET

National Family Mortgage Passes $20 Million in Peer-to-Peer Mortgage Loans Between Family Members

Milestone Reached Quickly as Americans Search for Solutions to Broken Banking System

BOSTON, MA--(Marketwire - Feb 1, 2012) - National Family Mortgage, America's premier peer-to-peer lending solution for home loans between relatives, today announced that it has passed $20 million in total mortgage loan originations. Since National Family Mortgage launched to the public in November 2010, its innovative peer-to-peer lending platform has helped thousands of families across America achieve their financial goals, protected their personal relationships, and saved them millions of dollars.

"National Family Mortgage's incredible success in 2011 proves that Americans are committed to beating a broken banking system," said Timothy Burke, CEO and Founder of National Family Mortgage. "Our determined customer base has recognized the win-win value of our platform, and we look forward to accelerated growth in 2012."

Benefits For Lenders

  • BETTER RETURNS: Invest in family and earn more interest than from a bank. Reinvest a steady monthly revenue stream however desired.
  • STRONG PROTECTION: Registered security. Prevent legal, estate, and gift tax issues. Protect the interests of other family members.
  • FLEXIBILITY: From down payment loans to 100% financing or refinancing, to home improvement loans.
  • CLEAR EXPECTATIONS: Protect relationships and help loved ones succeed.

Benefits For Borrowers

  • LOWER RATES: Borrow from family and save tens of thousands of dollars. Lower interest, no points, low fees, and tax deductible.
  • EASIER QUALIFYING: No red-tape.
  • BETTER DEALS ON HOMES: Buyers with secure financing can often close quickly and negotiate better deals on homes.
  • BUILD FAMILY WEALTH: Beat the bank and keep interest in the family. Protect relationships and keep things business like.

Since launching in November 2010, National Family Mortgage has helped
families across the US keep over $10 million of interest within their own families -- bypassing a broken banking system. Average loan terms since inception are 3.58% fixed, 22 years, zero points. Optional loan servicing program collects and credits monthly payments, issues year-end tax forms, and protects family relationships.

"National Family Mortgage's innovative solutions to the financial crisis have clearly struck a chord with consumers," said Burke. "Our simple, transparent platform has empowered borrowers and lenders alike to get a better deal and to keep money where it belongs -- with their own family."

About National Family Mortgage
National Family Mortgage is an online peer-to-peer lending company committed to offering consumers alternatives to traditional and costlier forms of home financing. National Family Mortgage has developed a safe and easy way for families to structure home loans with their relatives -- thereby helping people arrange affordable loans, while reducing tax issues, protecting relationships, and keeping money in the family. With interest rates that are typically lower than rates charged by a bank, National Family Mortgage allows consumers to take major steps toward achieving the dream of home ownership with help from family, while saving thousands of dollars.

Contact Information