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21st
Equity Homes Launches Its Capital Solutions Program, which
enables millions of property buyers across the world to finance
their homes or real estate development projects with an Interest
Free 2nd mortgage.
:
CARSON
CITY, NEVADA, May 11, 2009 -- 21st EQUITY HOMES MANUFACTURING INC. (21st Equity) a precast
home manufacturer and official Mandate
Holder for global cement supply launches its Capital
Solutions Program, which enables millions of property
buyers across the world to finance their homes or real estate
development projects with an Interest Free 2nd mortgage.
21st Equity Homes Manufacturing
Inc. has formulated a timeous and much needed value added
capital solution to those wishing to acquire and build new
homes, new commercial buildings, new shopping malls, hospitals
etcetera.
21st Equity Group has
announced the imminent launch of an innovative new product
linked to its 21st Equity development/co-development/joint
venture projects, which is set to offer the hard pressed and
cash strapped consumers, developers and even financial institutions
an an NPO funded deposit for homeowners benefit which is
required to facilitate bank loans and meet LOAN TO VALUE LTV
requirements of banks and financiers.
21st Equity offers structured
financing for homeowners whereby the homeowner obtains a 70%
1st mortgage from a local bank and 21st Equity provides a
2nd mortgage for 30% of the purchase price - however, 21st
Equity only requires payments to commence 2 years after purchase
and the 30% 2nd mortgage is INTEREST FREE for 10 years and
payable in equal monthly installments over 8 years (2 years
no repayments and 8 years to pay 2nd mortgage interest free).
21st Equity Group President
and CEO, Steve Schurmann has confirmed that the basic structure
of the product could be described as follows:
Says Schurmann: …it is
a 21st Equity non-profit organization deposit funded, home
ownership and real estate acquisition plan for purchasers.
The current economic crises has forced financiers and banks
to adopt stricter lending criteria which has literally made
it impossible for first time homeowners and prospective homeowners
who have bad credit records, to acquire a home without a mortgage.
The 21st Equity non-profit organization has earmarked various
developments either through own developments or via joint
venture partners or other developers who wish to access our
NPO assisted funding mechanisms in a tough economic climate.
Essentially, we assume the risk of the 30% (thirty percent)
deposit requirement which a bank/financier would require from
a purchaser. This would result in a prospective homeowner
obtaining a 70% mortgage from a traditional bank.
The 21st Equity non-profit
registers a 2nd mortgage for the 30% deposit requirement,
which only becomes repayable from 2 years after taking occupation
of your new home. The 21st Equity non-profit grants this 2nd
mortgage interest free for the first 2 years and only charges
interest at 4% (four percent per annum) effective from the
1st month after 2 years of the homeowner having taking ownership
of the home.
Our view is that the property
should have gone up in value and the persons income should
have increased over the 2 year period. In this way the client/homeowner
should have, depending on the economy, at the very worst had
an increase in the value of the property.
As a non-profit organization
we have structured this program to assist with home ownership
during these very difficult and trying times globally. Furthermore,
the fact that we are able to accept a 2nd mortgage and defer
payments, interest free for 2 years, further displays a significant
initiative which is geared towards meeting demand in difficult
times. Our objective is to assist with bringing home ownership
within the reach of everyone. With our non-profit initiative
and by granting the financiers 70% first mortgages over properties
lending criteria should be more favorable and home ownership
would be within reach of many more potential homeowners concludes
Schurmann.
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WHO
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In
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Forward-Looking
Statements
Any statements made in this press release which are
not historical facts contain certain forward-looking
statements, concerning potential developments affecting
the business, prospects, financial condition and other aspects
of the company to which this release pertains. The actual
results of the specific items described in this release, and
the companys operations generally, may differ materially
from what is projected in such forward-looking statements.
Although such statements are based upon the best judgments
of management of the company as of the date of this release,
significant deviations in magnitude, timing and other factors
may result from business risks and uncertainties including,
without limitation, the companys dependence on third parties,
general market and economic conditions, technical factors,
the availability of outside capital. Receipt of revenues and
other factors, many of which are beyond the control of the
company. The Company disclaims any obligation to update information
contained in any forward-looking statement.
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