, a peer-to-peer self-storage company, announced a monthly program where a customer's monthly mortgage payment will be covered based on the volume of referrals the customer generates.
According to the Lehi, Utah-based company, participants in the Neighbor referral program will qualify for the program based on the number of referrals they offer. As customers refer new friends who take specific actions on the Neighbor platform, the customer's position on the referral leaderboard will adjust accordingly. The customer atop the leaderboard at the end of each month will be rewarded by having Neighbor.com make their mortgage payment for the following month, up to $5,000.
"Homeownership continues to be the largest financial burden for Americans, with the national average mortgage debt surpassing $200,000," said Joseph Woodbury, Neighbor co-founder and CEO. "Neighbor.com's mission is to help alleviate that burden with our easy-to-use web marketplace that enables people to rent out storage space in their homes and use their home to pay for itself as a passive income stream. To expand that contribution in passive income, we are proud to announce that for a new Neighbor customer each month, the mortgage bill is on us. It's the neighborly thing to do in return for the goodwill our users have shown us."