BOSTON, Oct. 18, 2007 (PRIME NEWSWIRE) -- World Capital Bancorp today announced a new program that allows commercial mortgage borrowers to earn skymiles when they close their loan with them. A loan of $1,000,000 can earn up to 100,000 skymiles, which can equal four free domestic round trip tickets anywhere in the Unites States or two free tickets to Europe or Asia. "You can keep them for yourself and pay your relatives a visit or you can hand them out as gifts," said John A. Taxiarchos, CEO of World Capital Bancorp.
The economy has had a bit of a tough run so far, with gas prices going higher, the cost of groceries going up and depressed housing prices. It is difficult to even think about buying gifts for the holidays, but this program is one way to ease that burden or to be generous to someone who can't afford to make the trip to see their friends or loved ones.
World Capital Bancorp is trying to make this a giving holiday season by allowing people who are looking to acquire commercial property or want to refinance their existing property, to earn skymiles towards free tickets.
As the coming months approach and talks about subprime mortgages continue, the economy will need to figure out a way to iron itself out. Commercial Mortgages remain strong, even with a depressed housing market. People who own residential property may now want to consider adding some commercial properties to their portfolio. "Millionaires are made in uncertain markets like this one. The early 1990s posed similar challenges to the real estate market. I remember one of my colleagues complaining that after foreclosing, he couldn't give away condos in Lawrence, Massachusetts, even for $6,000. Similar units in that area are now selling for over $200,000. The few that made some wise investment decisions are already starting the hunt for their next property, as commercial property still remains strong in many markets across the country," said Dylan Jones, Chief Underwriter for World Capital Bancorp.
For a complete analysis of your current portfolio or to initiate the process on a new commercial loan, give World Capital Bancorp a call at 888-WCB-3003.
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