Homeowners Nationwide at Risk -- Worldwide Captial Mortgage Offers its Solutions

As an Expert in home financing CEO/PRESIDENT Sal Petrozzino of Worldwide Capital Mortgage Corp. states as debt exceeds income levels nationwide, todays homeowners are at the highest risk ever of losing their homes. It looks like Worlwide Capital Mortgage has an innovative solution.

Bay Shore, NY November 21, 2006 -- As an Expert in home financing CEO/PRESIDENT Sal Petrozzino of Worldwide Capital Mortgage Corp. states as debt exceeds income levels nationwide, todays homeowners are at the highest risk ever of losing their homes. It looks like Worlwide Capital Mortgage has an innovative solution.

"Homeowners Nationwide deserve far more help and knowledge than they've been getting, Mr. Petrozzino said.

Mr. Petrozzino is one voice in the mortgage industry nationwide willing to speak out for homeowners. "Homeowners nationwide deserve far more help and knowledge than they've been getting" Petrozzino said. "Homeowners in financial trouble usually don't seek help quickly enough, which would be before their credit has been damaged. And, many times, the loan itself is not all the help they need."

A former police officer of more than 17 years, Mr. Petrozzino has carried his 'to protect and serve' philosophy into his role in the mortgage industry. "It takes less than a month to damage your credit, but can sometimes take years to restore it. When a homeowner with damaged credit comes to me, the more he or she tells me about his or her situation, the more I can help. Just getting him into a loan is not enough. There is a process that many loan officers don't know or understand. I'd rather work with clients and take the time to develop a long-term strategy to help get them financially healthy again, which would include cleaning up their credit so they can save money in the long-term, as well. Too many families wind up facing a bankruptcy and/or foreclosure that could have been avoided by getting the right help at the right time," says Mr. Petrozzino, "and enlisting the help of a really good mortgage professional is critical."

It seems far too many homeowners nationwide are struggling to keep their heads above water. Despite the fact that there are more two-income families than ever before, many families are barely surviving, just living paycheck to paycheck. For most families, the rising costs of everyday living -- food, gasoline, electricity, heating oil, and healthcare -- have vastly outpaced most families' income over the past ten years. The result: credit card debt is at another all-time high, and bankruptcies and foreclosures have been on the rise as well.

With so many homeowners living on the financial edge, it doesn't take much to push them over the edge. Some wind up over the edge as the result of job loss, illness or unexpected expense. For others, it's merely a matter of time until they're stretched so thin that they start making payments late... or missing payments altogether. Unfortunately, too many homeowners don't seek help in time, or don't get the help they really need.

Over the past five-or-so years, record numbers of homeowners nationwide refinanced their mortgages to get cash out, just to survive. Mortgage refinancing, home equity loans and lines-of-credit were sold in record numbers by mortgage companies and brokers, large and small, as the 'quick fix' for a homeowner's financial needs. So why then are so many of these families still in trouble? Some homeowners with Adjustable Rate Mortgages (ARMs) now face huge monthly payment increases as their adjustable rates rise. Some homeowners were sold a loan by a loan officer who did not know or care about the potential impact of that specific loan on the homeowner after the loan closed.

There are far too many mortgage 'professionals' who sell a loan based on whatever seems to be the homeowner's interest (lowest interest-rate, lowest payment, etc.) without any regard for the homeowner's short-term and long-term financial picture.

What options are there for a homeowner in tight financial circumstances? All too often, homeowners fall prey to loan officers who are merely salespeople who happen to sell mortgage products that they themselves don't fully understand. They make the sale; get their commission and move on to the next victim.

Worldwide Capital Mortgage serves financially stressed homeowners by utilizing the combined expertise of their Financial Advisory Committee, comprised of a Bankruptcy/Foreclosure Attorney, Certified Public Accountant, Credit Specialist from Nationwide Credit Restoration Inc. and Worldwide Capital Managers. For more information and advice, ask to speak with a Financial Advisory Committee Branch Manager at 631-859-1400.

Worldwide Capital Mortgage Corp. is a Registered Mortgage Broker with the New York, New Jersey, Connecticut, Massachusetts & Florida Banking Depts. All loans are arranged through third part providers, subject to lender approval.

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