POSTED: Monday, December 3, 2012 - 6:17pm
UPDATED: Monday, December 3, 2012 - 9:02pm
Tyler, Tx — We’ve gotten used to doing some traditional things in non-traditional ways these days.
And for a lot of people, navigating the system to get a typical bank mortgage loan is too much trouble.
We want it quick, and easy. We’ve become comfortable buying a car over Ebay.
Instead of going to the optometrist, cell phone store, photography studio or tax preparer, we go to Walmart.
But, for a mortgage?
Carlisle and Gallagher is a consulting company for the financial industry, and they found that 80% of us in a recent survey would go somewhere other than a bank for our home mortgage.
One third would actually be happy with a home loan from Walmart. 48% would get a mortgage loan from PayPal.
In fact, Costco discount stores offer home loans, home, auto and health insurance, 401K’s, business phones, payroll services and more. All from a department store.
The survey showed most people found banks slow, bureaucratic, and difficult to communicate with. So traditional banks still are our first stop. But, we are addicted to convenience, and that is exactly what mega-retailers are counting on.