Mortgage Company Pays Mortgage for 500 Customers
admin on December 30th, 2008
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ING Direct awarded 500 of its mortgage holders with one month’s mortgage payment. In response to the nation’s foreclosure crisis, the Dutch based ING Direct forwent its holiday party planning to conduct a contest geared to providing one month’s mortgage payment to its mortgage customers. Each participant wrote a 250 word essay sharing their reason to receive the one month’s mortgage payment. ING Direct used the over $800,000 office holiday party budget to fund the contest.
Recipients of the awards were varied from compelling stories of cancer survivorship to the financially responsible seeking relief. ING has over 83,000 mortgage customers, but only received 5500 essays for the contest. ING currently owns slightly less than 2% of the nation’s mortgages equaling $17 billion. In October, ING Direct received $14 billion dollars in aid from the Dutch government.
