Daymented ([info]daymented) wrote in [info]seattle,
@ 2004-05-24 20:08:00
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Do you rent an apt. in Seattle?
I saw a poster in Central Market for a TV show this weekend - there is a new reality TV show where people (they say couples) win their first home.
www.welcomehome.tv
You need to rent an apartment and be in the Seattle area. Application is on the site. I wanted to apply, but my husband and I rent our home, and this is the home we plan to buy. The show's system is a bit different than that.

Good luck everyone!

(P.S. I'm new to the community - Hi!)

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[info]cambler
2004-05-24 08:26 pm UTC (link)
I would be VERY SUSPICIOUS about this. I checked out the site and it says nothing about what network or channel this is for, nothing about the production company and... the real red flag, HUD information.

HUD information is mandatory disclosure for anyone that makes home loans. Indeed, part of the "application process" seems to be filling out a complete financing application. Compared to the cost of the prize, and the fact that the prize is a $10,000 cash payment if you do not meet financing requirements, and my alarms go off.

Can anyone perhaps shed a little reality on this "reality?"

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[info]cambler
2004-05-24 08:29 pm UTC (link)
Yes, as I suspected - they might produce a show and give away a prize, but everyone else is treated as a loan application. From their privacy policy:
At your direction (when you click on the "Submit" button), the information that you provide in the Application is routed through our system and presented to our Suppliers, who will review your Application, additional data provided by third parties, credit history and other information in determining your possible appearance on the Show and/or receiving information and assistance relative to your housing objectives. These Suppliers may keep and use your information and contact you directly via phone, e-mail or other communication for more information.

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[info]damashita
2004-05-24 08:58 pm UTC (link)
Well, you don't win your first home... you win down payment and 1st year's mortgage payments. Which means you have to qualify for a loan to pay for the rest of the house. Hence the information.

Yes, i can see being cautious, but the fact that they are doing such credit check info is not surprising.

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[info]cambler
2004-05-24 09:20 pm UTC (link)
Sure, but if you read their privacy disclosure, they come right out and tell you that all applicants will have their full applications sent to realtors and loan brokers.

If I could get 10,000 applications filled out completely, and only had to pay 5% plus one year on a home that I could choose on a loan I could choose, and could fall back on paying $10,000 to a non-qualifier, I'd do it in a heartbeat.

The submission fee on a full loan package is two orders of magnitude more than the money they're paying out.

No doubt that the prize is real - and the "reality TV show" will make a kick-ass infomercial. These guys are sharp.

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[info]daymented
2004-05-24 11:03 pm UTC (link)
I think you're right - it does seem kinda fishy that there's no details of the actual show, or producer info, channel, etc.

Bummer.

I think I will talk to Central Market and ask them where the poster came from.

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[info]happyapple
2004-05-25 03:41 am UTC (link)
i saw a poster for it by the photobooth next to fred meyer in broadway market.
though i don't know who regulates those posters, if anyone.

(Reply to this)(Parent)

[info]yruugrrl
2004-05-25 12:30 pm UTC (link)
Hmmmm. I am bummed that it seems to be a scam. I was totally interested for a bit, but I guess that's what they were counting on.

(Reply to this)
Show Casting
[info]showcasting
2004-07-11 02:42 pm UTC (link)
Hi everyone,

I'm following up to comments/questions about the WelcomeHome.tv show. I am one of the producers of the show. The show will be syndicated nationally in 2005 and we are filming 4-6 episodes here in the Seattle area. We are also shooting in FL, TX, NY, NJ, CA, ID, OR and UT.

In response to the questions about credit, qualifications, etc... we do process basic financial information. This is because the people we select to be on the show must be able to qualify for a mortgage. We award the people on the show a down payment and 1 year's worth of expenses to a house we renovate. However, the house (and its mortgage) is still the financial responsibility of the entrant once its awarded. The people we select to be on the show also have the option to receive a cash prize if they don't like the house, etc.

Anyway, I hope this answers any questions. If you've got more, you can contact us at casting@welcomehome.tv.

We have 2 more shows to cast for this summer here in WA, so I encourage people with interesting stories to register now.

Thanks!

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