MORTGAGE NETWORK TO CO-SPONSOR HOMEBUYING SEMINAR FOR VETERANS

DANVERS, MA – February 16, 2016 ─ Mortgage Network Inc., one of the largest independent mortgage lenders in the eastern U.S., will co-sponsor a free homeownership seminar in Rockland, Massachusetts to help U.S. military veterans improve their financial health and understand what is required to purchase a home.

The free seminar will be held Tuesday, February 23 at the Veterans of Foreign Wars Post 1788 at 22 Church Street in Rockland from 6:00 to 8:00 p.m. The purpose of the event is to help veterans learn about their options between renting and buying. They will also receive tips on how to improve their financial affairs to qualify for a mortgage and help them budget for monthly expenses.

“There is a big need for this type of event,” said Brian Moloney, branch manager of Mortgage Network’s Braintree, Massachusetts office, one of the organizers of the seminar. “Many veterans don’t know that they are eligible for these mortgage programs as a benefit for their service, and many aren’t aware of the various options available to them. After the sacrifices our military men and women have made to serve, helping them achieve the American dream of homeownership seems like the right thing to do.”

The idea for the seminar resulted from conversations among Anton Materna, Director of Veteran’s Services for the town of Rockland; Joseph Pollini, Commander of VFW Post 1788; Dan Direnzo of Realty Choice; Trish Pierce of Keller Williams Realty; and Moloney.

There are two major mortgage programs for veterans in Massachusetts. The federally-guaranteed Veterans Administration program allows eligible veterans to finance a home purchase or to refinance with no money down and no private mortgage insurance, making it far easier for veterans to get a loan. Last November, MassHousing, a quasi-public agency that provides financing for affordable housing in the state, announced a new mortgage program for veterans and active-duty military personnel called Operation Welcome Home that combines a traditional, fixed-rate MassHousing mortgage with a 0% deferred down payment and/or closing cost assistance loan of up to 3%.

“Before deciding to purchase a home, veteran borrowers need to review their options, such as the kind of house they want to buy, the kind of mortgages available, and what they can afford,” Moloney said. “Many of them also need help in creating a monthly budget and improving their finances in order to qualify for a mortgage.”

Speakers at the event include Moloney, Pierce, April Henrikson of Realty Choice, and Maureen Moriarty, MassHousing business development officer for southeastern Massachusetts.

Based in Danvers, Massachusetts, Mortgage Network provides mortgage banking services in more than 20 states through a wide variety of retail offices built to fit each local market. Mortgage Network is more focused and agile than many larger competitors, which allows the company to provide a high level of service to its customers and its business and referral partners.

About Mortgage Network, Inc.
Based in Danvers, Massachusetts, Mortgage Network, Inc. is one of the largest, privately held independent mortgage companies in the eastern U.S. region. The company is licensed to do business in 26 states and has more than 400 employees and 40 branch offices. Mortgage Network provides a full range of residential mortgage products, including conventional and non-conventional loans, FHA and VA loans, mortgage refinancing and reverse mortgages, while offering borrowers a unique combination of experience, product development, and commitment to great service. According to a customer survey conducted from December 2012 through December 2014, more than 98 percent of customers would recommend Mortgage Network to friends and family members. Founded in 1988 by Robert McInnes and Albert Paré III, Mortgage Network can be found online at www.mortgagenetwork.com and followed on Twitter at @MNETMortgage.