Wednesday, January 15, 2014

Some days I can't believe how many words it takes to tell me nothing.

I'm still sort of in refi hell. You know I went through that whole thing where the MERS database had my address wrong and this completely seized up the loan process. And I have one of those ticking time bomb mortgages. It doesn't reset until 2016, but it's the only thing I could think about the past 5 years. It's consumed every fiber of my being. I'm not the type of person to take chances on my mortgage. At the time in 2006, you couldn't get  a mortgage that didn't have a reset. I only got a 10 year because I had the best of the best credit.

Honestly, if my loan would have reset in the last 5 years - I would have been living the high life. My loan is completely conforming. So, I put 20% down, and wasn't doing interest only.  At some points it would have shaved almost 3 percentage points off my interest. However - the fear of the government losing control of the bond market wouldn't have made any of that worth it. As it was, that constant fear shaved several years off my life. No one in my generation has ever seen a world like we have today. Every day you wake up to something new.

Anyway. It had been a couple of weeks since I got my notarized docs in, and I'd heard nothing from the bank. So of course I had to call. Where it took 30 minutes to find out that they had paid off my loan, but I might not actually get a coupon book for 30 days. They can't tell me what my new account is over the phone. They allegedly will send me a fax. I'm not holding my breath. Getting any help out of a support line these days is like winning the lottery.

It's just so deeply depressing how dysfunctional the banks still are. It's like they don't want to get paid or something because they really make it hard to find out how to do so.

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