Friday, July 21, 2017
Rocket Mortgage by Quicken Loans: Just a sign of the times, I guess...
Maybe it's because I was born after 1980, I don't know, but I'll agonize for ten minutes over which brand of freaking laundry detergent to buy and when I used to shop for cars I'd visit the dealership at LEAST twice before finally committing. My travel agent knows that I'll be sending her at least half a dozen emails requesting information on as many different countries before I decide which, if any, I'm going to be visiting next summer- and then I'll start the long, ardous process of nailing down the right week I intend to go.
But apparently it's perfectly normal nowadays for young people to see a house they like, whip out their phones, and commit to a 30-year mortgage in about fifteen seconds flat. Monthly payments? Insurance? WTF-ever, I guess. Checking out different banks to see who is offering the best deal? We don't do that anymore, grampa. We've got Smartphones now- which means we can make life-defining decisions by scrolling our finger across a screen. We've got thirty years to think about it, starting later. That house is available, we want it, what else is there to discuss?
A few years ago I snarked on a commercial which featured someone using a Smartphone to check out pets available at the local shelter, and picking one out based on how it looked on her screen. I feel stupid for making fun of that person now. The people in this ad are spending far less time researching mortgages and agreeing to spend $400,000 plus interest between now and mid-century than that pet-seeker did in finding a small mammal to take care of for a decade or so. I thought "One-Click" adoption would come before instant mortgages. Shows what I know.