You can make up your own mind.
Here are the facts:
Today, I received an official looking letter from the “Indemnification/Disbursement Division” of “The Offices of Government Insured Loans.” This is not a federal agency – despite the fact that the company is trying very hard to look like it with their kraft brown envelopes and green ink. A quick Google of “The Offices of Government Insured Loans” will result in the following:
(Information) No results found for “the offices of government insured loans”.
It was stamped “Documented Mail” – a term that the United States Post Office does not use but that the company is trying really hard to make you believe is “official.” The green faux bar code on the front of the envelope is clearly meant to imply some sort of Certified Mail and is stamped “FIRST CLASS” when in fact, this mailing was not sent first class. It was sent bulk metered mail.
But wait -
The most offensive part is the term “Housing Stimulus Rebate Enclosed” stamped on the outside.
You and I both know what this is about. This company wants you to believe that there is a link between what’s inside and your economic stimulus/rebate check.
Inside, the header reads “Housing Stimulus Rebate”: $1200. No coincidence there, huh? That is the exact amount that the government will issue to most married taxpayers in the form of an economic stimulus/rebate check.
In bold letters, you are encouraged to “Call Today” – the “approval code” conveniently ends in GVMT.
The letter advises me that the FHA has “authorized us to assist in substantially reducing your over-all monthly payments and interest rate on your mortgage.”
Mortgage?
That’s right – this so-called “Housing Stimulus Rebate” is really a solicitation for a refinance from Mike Hall (yep, plugging his name in so that you’ll know who is responsible) of The Money Store. We get these kind of solicitations all of the time and while I have issues with the manner in which many of them try to – we’ll call it “win” your business – this one takes the cake.
You tell me: clever marketing campaign or slick attempt at trickery? I know what I think…
{ 9 comments… read them below or add one }
Well you may not be calling it a scam, but lots of other people will!
Isn’t there some agency that checks up on this advertising? This one should sure come under scrutiny.
The sad thing is that many people will fall for this ploy — making The Money Store a whole lot of money. The predatory tactics just keep coming.
Hey, wait — isn’t The Money Store owned by First Union? Maybe it’s time to judge a bank by the company it keeps. . . or owns.
I’m gonna call it a scam. SCAM! There, I did it.
Scam, scam, scam. Just like all the other “official” mortgage-related junk mail I get. Every. Single. Day.
How can they put “first class” on an envelope when it isn’t? Why would the USPS accept that?
Anyone can be bought
Hard sell is so yesterday. Today its Trick sell.
moneypenny
I’m with MJ in that I would think there would be more investigation into these tactics…
Wow. I’d call it shady. Maybe it’s not exactly a scam, but it certainly isn’t above board. Expect a link or two from my mortgage blogs today…
I’ve gotten a few pieces like that, and they leave me disgusted.
Sometimes I get phone calls along the same lines:
Caller: We are calling on behalf of your credit card company.
Me: Oh – you work with Morganbank Financial?
Caller: Uh… yes!
Me: You know, I just made that name up…
Caller: click
Yes. I also do belive that it is scandulist! My husband gets e-mails from the gov, He has cancer and paraz, from the waist down! saying that his stimulist rebate is deposited in his bank and is not? So what’s up with that? Goos thing I don’t belive!!! I’m I right!