Portland, OR (PRWEB) August 31, 2006 -–
With interest rates on the rise and over a trillion dollars worth of adjustable rate mortgages set to adjust in the next year, many borrowers are turning to BestInMortgage.com for professional advice on their mortgage. Unlike other mortgage websites, BestInMortgage allows borrowers to interact with mortgage professionals without sharing their personal information. This matchmaking model has taken off as of late with many homeowners facing tough decisions about their homes now that rates have started to increase.
“We originally conceived the site to be a place where homebuyers could interview several loan officers before choosing which one they wanted to take a mortgage with, but what we’ve found is that the site’s format has attracted current homeowners who need help with an existing mortgage,” commented Dan Itkis, the company’s CEO. BestInMortgage.com differs from other online mortgage portals because it allows consumers to get help with a mortgage without giving away their contact information. The ability to interact with a mortgage broker from a distance has attracted many homeowners who are currently having problems with their existing mortgage.
“Although rates have started to steady, the indexes that drive the rates for adjustable rate mortgages are continuing to climb,” said Mark Vukadinovich, the Director of Marketing for BestInMortgage.com. “For a lot of homeowners, their increased payments have come as a complete surprise. Many did not understand the terms of their loan when they got it and even more are now surprised to find that they have prepays or other penalties if they try to sell or refinance. This time around, they want good advice and they want to make sure that their mortgage broker is someone they can trust before starting the loan process.”
BestInMortgage.com officially launched at the beginning of 2006 and the site’s creators have been surprised by the overwhelming traffic the site has generated. “When we launched the site, we thought it would take over a year to get noticed, but the exact opposite has happened. Within weeks, we had a steady stream of borrowers looking to get good quality advice about their mortgages and the trend has only increased,” commented Vukadinovich. The site’s creators credit the success of BestInMortgage.com to the transparency of the process. Unlike other mortgage portals that claim to put a borrower in contact with multiple lenders after the borrower submits a mortgage application, BestInMortgage.com places the borrower in total control.
When a borrower reaches the site, they have the option to either search the online directory for a mortgage professional in their area, or they can post a mortgage related question to the site. When a question is posted, mortgage professionals who are licensed in the same state as the borrower are invited to answer the question. Both the questions and the answers are publicly available to anyone visiting the site so a borrower visiting the site can evaluate a mortgage professional based on the answers they give.