ING DIRECT Survey: Americans Blame Low, No Money Down Mortgages for Economic Downfall

New Survey Also Shows Americans Want Alternative to 30-Year Mortgages
WILMINGTON, Del.--(Business Wire)--
Despite the mortgage crisis, two-thirds (67 percent) of Americans agree that
homeownership is still an "aspirational" symbol of the American Dream, according
to a recent ING DIRECT survey. But as lower housing prices are prompting
Americans to revisit the housing market, the new survey also shows a lesson
learned from the mortgage meltdown: save for a down payment.

More than four in 10 (42 percent) Americans think homes purchased with a bigger
down payment in recent years could have reduced the number of foreclosures and
prevented some of the current economic downturn, according to the survey. With a
larger down payment, Americans can move into their new homes with a lower
interest rate, reduced debt and owe less interest over time. In recent years,
too many no-money-down mortgages were offered to homebuyers who could not afford
to keep paying their mortgages after their homes lost significant value and the
economy slowed.

"Owning a home is an opportunity, not an entitlement," said Arkadi Kuhlmann,
President of ING DIRECT USA. "Sadly, that message has been lost in translation
over the past several years. Don`t trade your future for the instant
gratification of owning a home you can`t afford in the long run. It you want to
own a home, save for it, and our survey shows that Americans agree. "

With low mortgage rates, more than 40 percent of American homeowners with a
mortgage may refinance this year, according to the survey.Homeowners surveyed
also indicated that they are seeking new options from the 30-year mortgage
product. Nearly four in 10 (37 percent) Americans said they are likely to
consider a mortgage that allows borrowers to make bi-weekly mortgage payments at
no charge. Making payments every two weeks instead of once a month allows
homeowners to pay off their mortgage faster.

"For a saver, there is nothing more rewarding than finally becoming
mortgage-free," said Kuhlmann. "Americans want home loans that eliminate years
of payments and give them the freedom to own their homes sooner."

For borrowers who have saved their money and want to own their home, ING DIRECT
offers the Easy Orange mortgage. This mortgage product is for Americans who have
built up a healthy down payment, are serious about paying off their mortgage
quickly, and want to save thousands of dollars with a low interest rate and low
closing costs.

The national online survey was conducted within the United States by Harris
Interactive on behalf of ING DIRECT between May 20-22, 2009 among 2,122 adults
age 18+, 1,514 of whom were homeowners. No estimates of theoretical sampling
error can be calculated; a full methodology is available.

About ING DIRECT

ING DIRECT, the nation`s largest direct bank and largest thrift, is dedicated to
inspiring Americans to become a nation of savers. Since its inception in 2000,
more than 7.7 million Americans have entrusted their savings with ING DIRECT,
building the bank to $91.4 billion in assets. For more information about ING
DIRECT visit www.ingdirect.com and for information on its financial education
website visit www.orangekids.com or call 1-800-ING-DIRECT.
Style note to Editors: ING DIRECT is always capitalized and never referred to as
ING.

Media:
ING DIRECT
Steve O`Halloran, 302-467-6643
sohalloran@ingdirect.com

Copyright Business Wire 2009