Feb. 9th, 2010


Feb. 9th, 2010 09:49 am
wereleggo: (Default)
I started the process of refinancing the house a couple of weeks ago - Wells Fargo had been calling me about three times a day for a month before finally tracking me down at work and talking me into it. The lady who called me was all "ooh, we can save you probably three hundred a month!" Well, that's nothing to sneeze at so I got all my paperwork together (you have no idea how much of a bastard of a time I had with that, seriously) and drove all the way to Waltham and filled out all this fucking paperwork.

They gave me an offer that would have me saving maybe 200, maybe a little more a month. Still pretty good, so I agreed have someone come inspect the house. No one has come to inspect the house yet, mind.

Then yesterday I get this thing in the mail - the initial offer they gave me can't be closed because there are "insufficient assets in the new loan to cover the cost of paying off the old loan". Now, maybe I'm stupid, but as far as I know the amount of money needed to pay off the old loan hasn't GONE UP BY TEN THOUSAND DOLLARS recently. I don't see how it could, even. And remember, no one has inspected the house, so it's not like they came out and looked at it and went "whoa this is a goddamn dump cancel the loan!"

Anyway, they made a counteroffer for ten thousand more and now I'm only saving like $100 a month. Which, I know, isn't bad or anything but it's hardly this awesome deal.

And I've asked three times via email this morning - WHY did the amount needed to pay off the old loan change? What happened here? And they won't answer me! They just pointed out that I was still definitely saving money!

What bullshit.

Am I being stupid or something? Or is this some kind of retarded mortgage bait and switch deal?

EDIT: there's definitely no early payoff penalty, I remember that from the original signing.


wereleggo: (Default)

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