East Bay Mortgage Offers Financial Solutions in Illinois; Lender Provides Attorneys, Physicians with Unique Approach to Manage Their Overall Financial Plan

Business Wire, May 20, 2003

Business Editors

GIG HARBOR, Wash.--(BUSINESS WIRE)--May 20, 2003

East Bay Mortgage, a regional mortgage company that focuses on using mortgages as a key strategy to aid in overall financial planning, has obtained its mortgage banking license in Illinois.

The company, which serves as a trusted financial adviser to hundreds of attorneys and medical professionals, is currently licensed in seven other states including Washington, Oregon, California, Arizona, Florida, Utah and Colorado.

"With respect to the states in which we are currently licensed, we have selected those markets with both high barriers to entry and high concentrations of wealth," said Tane Cabe, president of Gig Harbor, Wash.-based East Bay Mortgage. "Attorneys and physicians, in particular, have specific financial needs when it comes to mortgages. We want to be the premier provider of financial solutions to these individuals, by educating them on the significance of a home loan to their overall financial plan."

East Bay Mortgage has developed a unique four-step approach, which involves advising its clients to: establish a cushion of cash for at least two to three months; pay off all debt (outside of the home); save at least one year's income; and eventually pay off a home in eight to 10 years. East Bay Mortgage's target client is the income statement affluent, or the individual who spends a large portion of his or her earned income.

"We want to transform the income statement affluent into the balance sheet affluent," said Cabe, adding that the balance sheet affluent is more fiscally responsible and tends to make more sound investments. "Once individuals become balance sheet affluent, it can drastically improve their quality of life."

About East Bay Mortgage

Founded in 1997, Gig Harbor, Wash.-based East Bay Mortgage understands the unique financial needs of attorneys and medical providers. The company has developed a specialized four-pronged approach designed to provide individuals with the knowledge they need to maximize their financial plan. For more information, contact Tane Cabe, president of East Bay Mortgage. He can be reached at 5202 Olympic Drive, Suite 202; Gig Harbor, WA, 98335 or via phone at (888) 558-6615.