Daily Real Estate News |
Tuesday, February 14, 2012
Home owners in a Los Angeles suburb are getting their nearly $2,000
monthly mortgage paid for by allowing their home to be turned into a
massive billboard, painted in orange and green.
The marketing company Braniacs From Mars launched the initiative: They’ll pay struggling home owners mortgage for up to a year, if home owners agree to rent out billboard space on their home to advertise the firm and its social media icons.
The company made its bold offer to home owners in April 2011, collecting nearly 40,000 applications. The majority of the applications came from hard-hit housing markets like California, Florida, and Nevada.
Romeo Mendoza, Braniacs From Mars founder and CEO, told Reuters that his goal is to choose 1,000 homes across the country and have them all advertising his firm.
"If we roll it out to scale and impact the foreclosure crisis, that would be amazing," Mendoza said.
But zoning laws and other city code laws regarding a home’s appearance may derail Mendoza’s plans. Many areas won’t allow homes to be turned into massive billboards.
Source: “Mortgage Relief: Houses Turned into Billboards,” Reuters (Feb. 13, 2012)
The marketing company Braniacs From Mars launched the initiative: They’ll pay struggling home owners mortgage for up to a year, if home owners agree to rent out billboard space on their home to advertise the firm and its social media icons.
The company made its bold offer to home owners in April 2011, collecting nearly 40,000 applications. The majority of the applications came from hard-hit housing markets like California, Florida, and Nevada.
Romeo Mendoza, Braniacs From Mars founder and CEO, told Reuters that his goal is to choose 1,000 homes across the country and have them all advertising his firm.
"If we roll it out to scale and impact the foreclosure crisis, that would be amazing," Mendoza said.
But zoning laws and other city code laws regarding a home’s appearance may derail Mendoza’s plans. Many areas won’t allow homes to be turned into massive billboards.
Source: “Mortgage Relief: Houses Turned into Billboards,” Reuters (Feb. 13, 2012)
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