I guess I should start out by stating that I do not find anything in this bit of junk mail to be the least confusing or misleading. Do you?
In case you can’t read it, it is a postcard from ING pitching their “ING DIRECT 5/1 Orange Mortgage.” It lays out what the loan would cost as compared to an average 30 year fixed. Although it does not use the term “adjustable rate mortgage” or “ARM” it gives the reader plenty of clues, including calling it a 5/1 and breaking out the numbers into two periods, with the interest rate for the second (Year 6-30) period labeled as “projected.”
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There were two big and obvious seasonal trends in the frugalosphere this past month. The arrival of September means it is time to get serious about Christmas shopping. And it was, as we all know, National Coupon Month. But did you know that NCM is only 13 years old? Seems like it has always been there, but it was just in 1997 that it “was first introduced by the Promotion Marketing Association, Inc. (PMA) to heighten awareness to savings and increase coupon usage.”
In celebration, there were the usual pro-coupon posts, but also at least one in the this-has-gone-too-far vein. Coupons for Lottery Tickets – Seriously? from Provident Planning informed us that just because you get a two-for-one coupon for lottery tickets in the mail, that doesn’t mean that it is a good deal. As the author points out, the Pennsylvania Lottery (who sent out the coupons) only pays out 61% percent of their revenue in prizes, so a $2 ticket is really worth only $1.22. You would have to get a serious discount to turn that into a good deal.
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In case you can’t read it, it is a postcard from ING pitching their “ING DIRECT 5/1 Orange Mortgage.” It lays out what the loan would cost as compared to an average 30 year fixed. Although it does not use the term “adjustable rate mortgage” or “ARM” it gives the reader plenty of clues, including calling it a 5/1 and breaking out the numbers into two periods, with the interest rate for the second (Year 6-30) period labeled as “projected.”
Housing, Media | Frank Curmudgeon | 
October 4, 2010 12:29 pm | 
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