Lenox Financial Mortgage

Lenox Financial Mortgage's claim to fame is it's specialization in offering loans at no closing cost. If you listen to WGST Radio in Atlanta, Georgia, you may have heard Jon Shibley, president of Lenox Financial Mortgage boldly insist that the company's “refinance for free” offering does not roll the cost into the loan. Mr. Shibley founded Lenox in 1997 in Atlanta. The Lenox site markets the company with very little loan brokering actually happening through the site. Lenox Financial offers mortgages for refinances as well as new purchases. The new purchase section of the website contains lots of information for home buyers. Lenox provides ample information about the kind of property that might be suitable to you as well as the type of loan plan that would most fit for your pocket.

The web site and the company lay special emphasis on the refinancing services offered by Lenox. Unlike most other lending brokers, Lenox offers something called a No Closing Cost refinance option. The web site is not very clear on how they are able to offer no closing cost except by telling visitors that they have generated volumes for their investors therefore investors are now willing to pay them more. Lenox makes itself out to be a generous company that shares its additional earnings by paying off the closing costs for customers. The whole offering is highly advertised but it sounds rather suspect to some. One wonders how any sensible businessman would want to part with the closing cost profit unless there is scope for better profit. Lenox Financial may be able to pull this off, but it is unclear on how they make this no closing process work for all parties involved, not just the consumer.

Apart from mortgages on new houses and refinances, Lenox also offers debt consolidation loans and home equity lines of credit. Unlike several other similar web sites, Lenox doesn’t conduct much of its business online. They urge customers to provide very minimal information such as contact details and requirement so that their representatives can contact the prospects. It doesn't appear that they site has any privacy policy in place and there is no obvious guarantee of confidentiality either. Despite this, Lenox’s focus on smart money is quite attractive to customers and some may even venture to try the no closing cost scheme

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