Furniture mortgage idea will be focus of market meeting
By Furniture Today Staff -- Furniture Today, March 19, 2006
Greensboro, N.C. — During next month's High Point market, Furniture/Today will host a meeting of key retailers and lending institutions to form a plan seeking to finance furniture purchases as part of home mortgages.
The idea, proposed by City Furniture's Keith Koenig and billed as a "furniture upgrade option," was first reported in last week's Furniture/Today.
Koenig has suggested that when applying for a home mortgage, homebuyers could be approved for an additional 5% furniture upgrade option. That money, he says, would be used to purchase furniture from participating retailers.
"Furniture/Today applauds Keith and his ongoing efforts to move the entire home furnishings industry forward," said Editor-in-Chief Ray Allegrezza. "Adoption of this idea, even by a small percentage of consumers, has the potential to afford the industry a multi-billion-dollar boost.
"For 30 years, Furniture/Today has played a critical role by not only reporting on the industry, but supporting it as well," he continued. "As soon as Keith called us about this idea, we decided to host a meeting, help form a steering committee and facilitate a dialogue to discuss ways to transform Koenig's vision into a reality."
The newspaper also is creating a registration Web site that will bring interested retailers and lenders together.
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