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Article: Home Equity Advertising Blitz Rolls into Texas.(home equity loans)
- Article from:
- American Banker
- Article date:
- January 21, 1998
- Author:
CopyrightCOPYRIGHT 1998 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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It is 2:30 in the morning, and George Foreman is on TV peddling home equity loans.
"I know what it's like to have money problems," the ex-heavyweight champ says. "But Beneficial Texas can help."
For Texas homeowners who cannot sleep and need cash, late-night television offers plenty of options lately.
Once home equity loans became legal in Texas in early November, big nonbank lenders trotted out their big marketing guns in the state, using big-name sports figures to pitch second mortgages for anything from debt consolidation to college tuition.
Channel-surfing Texans are asked to ponder whether their loyalties lie with Mr. Foreman-a fellow ...