I received an interesting email just a few minutes ago from one of the leads we had purchased.

Here it is:

From: …………………
Sent: Sat 8/25/2007 9:16 AM
To: ……………..


My name is ……………… I filled this Lowermybill application out because it said I could have a $440,000 for $1,200 a month fixed for the life of the loan. If you can’t do that then don’t reply.

Thank you in advanced.


P.S. I don’t want to look at options, what I said is what I want.

My first response was laughter and as I read it again it still causes me to laugh. I am not sure why I want to laugh at this because it proves that many of us by leads are in a very sad situation.

A few minutes after receiving this email I came across an interesting article in the International Herald Tribune that briefly discusses the advertising tactics of companies like LowerMyBills and Quicken Loans.Here are a few interesting pieces from the article:

“The Federal Trade Commission and attorneys general in states like
Ohio and

New York are looking into mortgage ads as part of more comprehensive reviews of lending practices during the recent housing boom. In June,

U.S. banking regulators ranked advertising as one of three areas where mortgage bankers need to be more judicious.”

Here is CMO of Quicken Loans, Bryan Stapp almost okaying the bate tactic.

“While the advertising may have caused some to pick up the phone or go online, they still have to go through the process of talking to a banker,” Stapp said. “Anyone who was attracted to whatever advertising we had would then have a better picture of what program they could qualify for.”

I am encouraged in the fact that this topic is beginning to receive publicity. Hopefully we will see more articles and consumer reports on this topic. It is all very apparent that something needs to done. If I come across anymore I will be sure to pass them along to you. .