On April 16, Mortgage Alliance will be announcing the winner of its Minimize Your Mortgage Sweepstakes in which a lucky family will be given up to $100,000 towards their mortgage.
Up to 30,000 customers who received a mortgage through a Mortgage Alliance professional last year are eligible, and the winner will be announced at an awarding ceremony on April 16. Entering its 12th year, Mortgage Alliance has already given away $1.2 million through Minimize Your Mortgage, and according to Joe Pinheiro, Mortgage Alliance’s CEO, it’s beneficial for agents, too.
“The agents use it as a great way to promote themselves,” said Pinheiro. “If they’re fortunate to have their clients win, they leverage the fact that one of their clients won $100,000 for the rest of their careers. Consumers really respond to it.”
For over a decade, the initiative has helped many families who, for unforeseen reasons, find themselves in precarious situations.
“We’ve had situations where large families with four children fall on hard times because the mother becomes very ill and hasn’t been able to get out of the burden of debt and they’re in tears upon receiving the cheque,” said Pinheiro. “The $100,000 could not have come at a better time for them. They might not have lasted another six months if something like this hadn’t happened. That story always comes to mind.”
However, there are many happy stories, too. Pinheiro recounts one family who received $100,000 on the day their baby was born.
“It was a real big double surprise.”
Yasmine Soliman, Mortgage Alliance’s director of communications, says Minimize Your Mortgage has become an institution and one the company is proud of.
“We’ve been doing this for 12 years and we started it at a time when we weren’t the same size or scope we are today,” she said. “The amount we give puts us on the same plane as big players, like the banks. It’s a large sum of money and it makes a big dent in the mortgage, and it’s also a great way for our agents to leverage themselves.”
In addition to being attended by the winner and their broker, the April 16 awards will be attended by Mortgage Alliance corporate staff and broadcasted live on Mortgage Alliance’s innovators page.