Pacific Trust Bank has just introduced a great new financial device for Californians. Dubbed the "Green Account," it combines the customers checking, savings and mortgage.
The Green Account is a first mortgage line of credit with an associated 'Clearing Account' that allows all types of deposits and withdrawals to be performed, including direct deposit, check or debit card, ATMs transactions, ACH debits and credits, and transactions through the Bank's Internet banking and bill payer service. This type of total financial picture mortgage originated in Australia and is quite common there.
In addition to its transactional features and financial management simplicity, the Green Account's primary benefits are:
-- liquidity and accessibility to your equity;
-- cash management flexibility; and
-- the ability to minimize the outstanding loan balance and finance
charges.
Accounts like this account for nearly one third of all mortgages in England and Australia.
This gives a mortgage holder a great deal of flexibility in managing their finances. Pacific Trust Bank is a small financial institution but this is a highly innovative financial product. The credit limit on the account is up to 80% of the value of the home and a total home value of $2.5 million. Interest is calculated every day on this product as opposed to monthly.
For people interested in this product, contact Pacific Trust Bank
Hans Ganz
Phone: (619) 691-1519, ext. 4000
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