New feature lowers monthly payments, assists in managing cash flow.
Mississauga, Ontario - April 28, 2006 GE Money, the Canadian consumer-lending unit of General Electric Company (NYSE: GE), today launched a 40-year amortization option to its mortgages - the first lender to do so in Canada. This option is designed to help combat rising home prices and enable individuals to enter the housing market, while helping to manage cash flow.
Currently, GE Money mortgages are offered via brokers in Ontario, Alberta and British Columbia.