Bank Sweepstakes Will Pay Off Your Home Mortgage Loan

TD Banks is offering a sweepstakes that will pay off the winner's mortgage.
TD Banks is offering a sweepstakes that will pay off the winner's mortgage.

Many banks give away plush animals and sports posters to lure in customers, but one East Coast bank is pulling out all stops amid the housing crisis with a sweepstakes that will pay off your home mortgage up to $250,000. The Big Three -- Bank of America, Wells Fargo and Chase -- could take a lesson or two from this marketing campaign given their various consumer woes. (The Wells Fargo $60,000 contest mentioned on WalletPop just doesn't compare).

Here's how the sweepstakes works: If you apply for a mortgage online or in person through TD Bank anywhere from now through April 30, you'll be entered into the Big Mortgage Payoff Sweepstakes for the $250,000 grand prize. There are also six weekly winners who receive $2,500 each. Applicants for a refinance or a new mortgage are eligible. Those who are already TD Bank mortgage customers are automatically entered too. But there's more.