Some readers may remember a brief mention of the Fifty Dollar House raffle in a January post.  Basic premise was to sell a bunch of tickets and a lucky winner would get the house.  There was national TV coverage of it at the time and there was a winner (who subsequently put the house on the market).  I ran across the website today while researching an upcoming post.  The website, www.fiftydollarhouse.com is now the ticket center for a new raffle, “We Care and Friends 2009 Pay Off Your Mortgage Raffle.”

We Care and Friends, an Annapolis-based charity helping provide long-term drug and alcohol rehabilitation for those in need as well as numerous children’s programs, is sponsoring the 2009 Mortgage Payoff Raffle and they are going to pay off someone’s mortgage! For $50.00 you can win a prize package worth $550,000.00!

That’s right, you can pay off your mortgage and put $150,000.00 in your pocket for $50!! (but you will need big pockets) Many of those who participated in the We Care and Friends 2009 House Raffle said that they would have sold the house to pay off their current mortgage if they won.

Ticket sales run through October 23, 2009 at 5PM eastern time.  All the terms and conditions are on the website.