28 July 2005

Justifying Irrational Exuberance

Posted by Jameson Penn
As though consumers needed another excuse to go further in debt--! A morgtage lender in Florida, Texas and Arizona is offering a free Tivo to anyone who signs up for a line of home equity before November.
Chris Ward, Compass' senior VP of consumer and home equity lending, says Compass was looking for ways to tap into the latest tech toys. "Everybody is trying to find the new toaster, so to speak," he says. Focus groups indicated a high-premium gift could influence where consumers choose to do business so long as fees, rates and closing costs were competitive, Ward says.

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