Please wait as we prepare your PDF file ....

Mission Chronicle Blog

Search Blog

our goal is to help you stay informed by providing timely and interesting articles.

Debt-payment tool could help agents add more value

07/07/2016

Download PDF

Real estate agents are teachers, and their wisdom doesn’t have to putter out at the closing table: they can also leave clients with lessons for the future.

Like how to manage mortgage debt.

That’s where startup Earnup can come in handy. It helps consumers manage debt by automating saving and loan payments.

While a number of startups may be honing similar products, Earnup recently achieved some notable recognition. It was honored as a winner of the Financial Solutions Lab, an initiative co-founded by JP Morgan Chase. And, today, it announced a $3 million funding round led by Blumberg Capital, Kapor Capital and Camp One Ventures.

Earnup helps consumers absorb “financial shocks related to income volatility where their income doesn’t match up with when loan payments are due,” said EarnUp Co-Founder Matthew Cooper in a statement.

earnup

The startup constantly siphons off small amounts of a user’s income to a stash earmarked for loan payments. It makes loan payments automatically on behalf of users and “in a way that reduces debt faster,” according to EarnUp.

EarnUp didn’t immediately respond when asked about the cost (if there even is a cost) of its product for consumers.

This tool could help your leads and clients manage their debt

Click To Tweet

David Blumberg, managing partner of Earnup Blumberg Capital, said in a statement that EarnUp helps consumers “reduce interest expense,” “budget better, and save more in a simple and elegant service.”

As digital marketing increasingly connects agents with consumers who are months or even years away from buying or selling, referring prospective clients to budget-management tools like EarnUp might be a way to add demonstrate value right off the bat.

Millennials, who have grown up using digital tools and often are shackled by student loans, might be particularly receptive to such tools.

EarnUp’s branding and product design has been influenced by its conclusion — based on a study Earnup conducted in partnership with a Duke University professor — that consumers are 59 percent more interested in taking actions to reduce debt when pitched with “earn money” language, rather than “save money” language.

EarnUp hasn’t officially launched yet, but claims to already manage more than $500 million in consumer loans .

Email Teke Wiggin.

 

Source: click here

Read More

INSPIRED, INTELLIGENT, INSIGHTFULL

STAY INFORMED WITH TIMELY AND INTERESTING ARTICLES FROM OUR BLOG, MISSION CHRONICLE. OUR ASPIRATION IS TO PROVIDE REALTORS AND OTHER REAL ESTATE INDUSTRY PROFESSIONALS WITH EXCEPTIONAL RESOURCES AND SHARE OUR KNOWLEDGE TO PROPEL YOU TO YOUR GOALS.

  • Mission Chronicle Newsletter Dec 26, 2022

    Mortgage rates held relatively steady last week as most economic news came in better than expected.C...

  • Mission Chronicle Newsletter Dec 12, 2022

    Rates managed to move slightly downward last week as recession fears grew amid hopes that the Fedis ...

  • Mission Chronicle Newsletter Dec 5th 2022

    Mission Chronicle Newsletter Dec 5th 2022. Platforms: Browser, mobile-responsiveIdeal for: Leasing a...

  • Inman Review: Tenants and leasing teams get better connected with RentTango

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Tech Review: Smart Alto puts people first in its innovative lead qualification solution

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Refreshed and nurture-savvy, Market Leader’s CRM deserves your attention

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • The top 4 tips to improve your negotiation skills

    In today’s luxury real estate market, strong negotiation skills are an asset—you might even say ...

  • Buy and build with Welcome Homes’ online new construction platform

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Managing buyer expectations in a seller’s market

    I began my real estate career in 2000. And if you had told me then about the luxury market we have t...

  • MailMatic wants to be in your 2021 marketing plans

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

February 2023
Mon Tue Wed Thu Fri Sat Sun
 12345
6789101112
13141516171819
20212223242526
2728  

  • Polls

    What information you are looking for?

    View Results

    Loading ... Loading ...
  • Last month Results

    How Is My Site?

    • Good (100%, 3 Votes)
    • Excellent (0%, 0 Votes)
    • Bad (0%, 0 Votes)
    • Can Be Improved (0%, 0 Votes)
    • No Comments (0%, 0 Votes)

    Total Voters: 3

    Vote

    Loading ... Loading ...