SOURCE: Lifetime Home Loans

January 24, 2007 14:10 ET

New Mortgage Company Reports 29 Percent Hike in Revenue

Lifetime Home Loans Celebrates Profitable First Anniversary Amid Challenging Year for Industry; Experts Say Potential Home Purchasers Should BUY NOW

NORTHBOROUGH, MA -- (MARKET WIRE) -- January 24, 2007 -- During the past year, as many as 17 Massachusetts-based mortgage companies have gone out of business, due to a number of factors including a sluggish real estate market. Amid this depressed industry landscape, Lifetime Home Loans (LHL) burst on the scene in January 2006 and has continued to fly high throughout the year. Prospects for 2007 look even more promising.

As LHL opened its doors in January last year, rates were rising and the housing market tightened. Now, one year later, LHL reports that it's had a robust year of business that's growing steadily. Revenues increased 29 percent in the past six months, compared to the first half of 2006.

So what does LHL have that other mortgage companies don't? According to LHL President Dan Flamand, it's all about the company's focus on customer service that creates long-term relationships. One example is LHL's Lifetime Guarantee to pay the fixed closing costs if a customer decides to refinance a loan that Lifetime originated.

This saves clients more than $2,000 every time they refinance a loan for their current property. This type of guarantee is Lifetime's hallmark -- representing true, ongoing dedication to customers.

Transcending Traditional Mortgage Companies

With the lifetime guarantee and other benefits, LHL has transcended the traditional mortgage company model, creating one that includes taking extra time with clients to counsel them on their loan options, discussing both short-term and long-term goals. Already dozens of LHL customers have taken advantage of the lifetime guarantee.

Ultimately, Lifetime's mission is to make all customers happy and then continue serving them for a lifetime. At the rate the company is going, that's an attainable goal.

Flamand's partner Bob McKee envisions an even more prosperous 2007. While the housing market remains sluggish -- with inventories of four to five months -- McKee says this is the ideal time to buy.

Flying Even Higher in '07 -- BUY NOW

"There is a remarkable window of opportunity now, unlike anything we've seen since the early 1990s," said McKee. He explained that the combination of high housing inventory, which has lead to reduced prices, combined with a healthy economy and very low interest rates makes NOW the time to buy.

Anyone interested in buying a property should contact or visit Lifetime Home Loans ( at One East Main Street in Northborough, easily accessible from 495. LHL's loan officers travel to all points in New England and they also handle transactions in other parts of the country, including Florida. Potential buyers can also call 1-866-563-LIFE to schedule an appointment.

Contact Information

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