September 6, 2013
Doral offers relief in hard economic times
New offers to buy and refinance are creating a buzz in the mortgage market.


Doral Mortgage announced the launch of a new advertising campaign, focused on the most common needs among clients and potential mortgage customers on the Island. 'APRETAO' (Puerto Rican term for being 'tied up' financially), is a word used colloquially, that appeals to the idea related to the current economic situation that many clients are facing with higher costs of living and the impact it has in their pocket.

"In Doral Mortgage we know our client's needs, we understand that all families currently need financial relief. Because of this, we offer them peace of mind when it comes to the best products and offers, be it for a new home or to refinance their current mortgage, lower the monthly payment and have extra cash in pocket", said Javier Lugo, Product Manager at Doral Mortgage.

The campaign, which represents an investment of $1 million in media, is the third one being led by respected and loved Puerto Rican public figure Raymond Arrieta. This effort includes print, radio, TV, Internet, social media and alternate media such as billboards.

"By launching this new message, we are communicating the fact that we have many choices for the customers. We've been able to help thousands of clients lower their monthly payments by refinancing their current mortgage, by traditional products or through specific programs like FHA Streamlines or HARPs. Contrary to the thoughts of many clients, interest rates continue to be attractive, in some cases there interest rate is over 5.00% APR. This means that there is still opportunity to save money in your monthly mortgage payment if people refinance now", Lugo added.

Doral Mortgage offers benefits for those clients that have both their mortgage and checking account with the Bank; Doral Bank offers them an exclusive line to pay their mortgage at the branch. Also, Doral Mortgage clients have various options when it comes to make their mortgage payments, such as Doral Banking Online, Doral Mortgage Online, Direct Payment, Teledoral and ATM payments.

The insurance products are not a deposit, not insured by the FDIC, not insured by any Federal Government Agency, not guaranteed by the bank or an affiliate, and may go down in value. ©2014 Doral Financial Corporation. All Rights Reserved.