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Wells Fargo Home Mortgage Seeks Essays About Homeownership Benefits
By James Comtois
As part of a nationwide endeavor to motivate and guide 10 million people to buy a home in the next three years, Wells Fargo Home Mortgage has announced an essay-writing contest wherein it will award up to $250,000 toward the purchase of a home to one person who writes the most inspirational essay about finding and purchasing a home.
Through its "Take The Challenge" essay contest, the retail mortgage lender will award the grand prize to the person who writes the best first-person account of their pursuit of homeownership and who has either purchased a home in 2006, or has plans to buy a first home, second home or investment property in the next three years. The up-to $250,000 after-tax winnings must be applied to a home purchase and entrants must agree to have their essays shared.
Contestants can enter up to a 350-word essay from one of three submission categories: "Why I Want To Be A Homeowner;" "The Challenges I Overcame To Become A Homeowner;" and "How Homeownership Has Built My Personal/Family Wealth And Security."
Eligible contestants include legal residents of the United States and at least 18 years of age (19 in Alabama and Nebraska). Guidelines can be found at www.wellsfargo.com/challenge.
The deadline for the contest is Dec. 31, 2006.
Wells Fargo Home Mortgage launched this contest as part of its founding sponsorship of The Great American Homeowner Challenge, a nationwide educational effort in conjunction with financial coach and author David Bach to inspire 10 million Americans to buy their first home, a second home or investment property in the next three years. Mr. Bach's latest book, The Automatic Millionaire Homeowner, motivates renters and current homeowners to reach their financial goals through homeownership.
Through the essay contest, Wells Fargo intends to unearth motivational stories of personal and financial success through homeownership. "We want the essays written for the Take The Challenge contest to inspire others on the road to a home purchase," said Wells Fargo Home Mortgage division president Cara Heiden in a statement, adding, "this is a great way for both renters and current homeowners to publicly express how owning a home can make a difference in their lives."
"I'm confident these essays will inspire millions of renters to work toward their first home and millions of current homeowners to consider second homes or investment properties as a road to building financial freedom," said Mr. Bach in a statement.
An independent panel of judges will review each essay and announce the winner in March 2007.
In addition to the grand prize, Wells Fargo Home Mortgage customers can also enter a monthly essay contest. One contestant per month will be awarded a monthly principal and interest payment up to $2,500 after-tax, which will be applied to their Wells Fargo Home Mortgage. More than 80 monthly prizes will be awarded.
All entrants in the monthly contest, including monthly winners, are automatically eligible for the $250,000 grand prize. State residents of Arizona, Maryland, North Dakota, New Jersey, Tennessee, or Vermont who are not Wells Fargo customers are eligible to enter.
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