Thursday, September 27, 2007

Hawthorne is Safe from Sub-Prime Mortgage Risk

What's going on in the sub-prime mortgage market? I am sure you have all heard of The Sub-Prime Mortgage Meltdown. According to the New York Times many of the top lenders in the nation are reporting serious losses, filing for bankruptcy protection, or looking for another company to buy them.

Hawthorne Credit Union continues to be a steadfast, strong financial institution. Other financial institutions entered risky ventures by holding sub-prime mortgages on their books, but Hawthorne did not.

Hawthorne maintains high standards in its lending practices, responsible investments and always strives for stable capital. We do not hold sub-prime mortgages on our books, which protects us from risk.

Further, Hawthorne Credit Union is here to stay. Since its inception in 1935, Hawthorne has been serving the people of the Chicago suburbs with honest service at affordable prices. Because we’re a not-for-profit financial cooperative, we’re owned by our members and therefore can’t be bought or sold.

If you entered into a mortgage that is too much to handle, contact our specialists at Hawthorne.
Jean Harlowe, our mortgage specialist, can help refinance your loan into one with more affordable payments. For those with more serious needs, Sharon McCroskey, our credit counseling specialist, can discuss options and help find a desirable solution. Contact us at 630-369-4070.

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