Author Topic: STAR Bank: "Debt Free Mortgage"  (Read 3402 times)

Landor n Stella

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STAR Bank: "Debt Free Mortgage"
« on: March 26, 2012, 10:43:01 AM »
A local bank has been advertising a Debt-Free Mortgage. It's basically a 10 year mortgage instead of 20 or 30 year. I find it false advertising though, you are still getting a mortgage! Here's the link:
https://www.starfinancial.com/debt-free

Ben

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Re: STAR Bank: "Debt Free Mortgage"
« Reply #1 on: March 26, 2012, 12:03:04 PM »
I read the banner as "Debt Free in 10," as in you will not have a mortgage after ten years. Seems pretty straightforward to me.

arebelspy

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Re: STAR Bank: "Debt Free Mortgage"
« Reply #2 on: March 26, 2012, 12:49:17 PM »
I read the banner as "Debt Free in 10," as in you will not have a mortgage after ten years. Seems pretty straightforward to me.

Agreed.  They call it the "Debt Free in 10 Mortgage."
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Landor n Stella

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Re: STAR Bank: "Debt Free Mortgage"
« Reply #3 on: March 26, 2012, 05:59:38 PM »
Yes, that is what the website says. But the radio ads and the electronic billboards in front of every STAR bank around here advertises it as a Debt-Free Mortgage, not mentioning anything about the 10 year thing. It does make sense when you read more into it, but for me just passing by or hearing it on the radio it seems so contradictory!

menorman

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Re: STAR Bank: "Debt Free Mortgage"
« Reply #4 on: March 26, 2012, 06:03:37 PM »
Yes, that is what the website says. But the radio ads and the electronic billboards in front of every STAR bank around here advertises it as a Debt-Free Mortgage, not mentioning anything about the 10 year thing. It does make sense when you read more into it, but for me just passing by or hearing it on the radio it seems so contradictory!
Of course, welcome to advertising. Especially given the current economic climate, no one wants to be debt-free in 10 years. They'd much prefer it to be right now.