A controversial new initiative helps homeowners pay their mortgage.
Adzookie is a mobile advertising company with its new target being homeowners who need help paying their mortgage. Their new initiative involves transforming regular houses into giant ads. During the time when the painted billboards are on the homes, homeowners get their entire monthly mortgage payment paid for by the company. Although it’s a controversial concept, homeowners seem very receptive. The Wall Street Journal reports:
Romeo Mendoza, CEO of Adzookie, said the response has been overwhelming, with some 3,000 applications on Wednesday alone. “It’s coming in droves,” he told Developments. “We hit a nerve… I knew people needed help, but I didn’t know so many. That’s kind of sad. We can’t help everyone, but we can help some.”
Adzookie, a startup based in Anaheim, Calif., will paint its ads on at least 100 homes, keeping them in place for between three months to a year, after which the home will go back to a color of the owner’s choice. It’s possible other companies might be brought on as advertisers, he said.
Mr. Mendoza understands skepticism about the house billboards, but said it’s clear from the response that people need help. “There are some really tough stories out there.” One application, he said, came from a disabled veteran trying to get his house back.