Author's Note: Names have been changed to protect the innocent or clueless
So Evil Bill has returned. I say this half jokingly because I don't really think Bill is Evil. Their heart is in the right place, but as my Mom used to say - "It's not what you say, it's how you say it."
Let me back up a bit. Bill is a Mortgage Broker. He did Ked's refinance of the townhouse a little more than two years ago, but with a two-year adjustable rate mortgage and a two-year hard pre-payment penalty. When the rate adjusted, the interest rate JUMPED. I mean higher than a Mexican Jumping Bean jumped. From 7 percent to 10 percent.
Now, in that two years, Keds was supposed to clean up her credit. Mine was on the mend as well, after buying the new house and getting married. We got the notice in February but needed to do some quick work. We paid off our consumer debt. We were a little slow in getting some items paid off, but things were looking up in March.
Enter Evil Bill. In March, we had gotten quotes from two prominent mortgage lenders and then contacted Bill to see if they wanted our business. At this point, we needed to do the financing with me on the loan, to ensure the credit score would get us the best rate. Bill flat out refused to do this. This house was a gift from your mother... Don't think that Ken won't hesitate to take half of this... Blah blah blah blah blah. Again, looking out for Keds, but not in a positive way.
We decide to hold off until Keds score improved. Fine. But now, Bill is making us jump through a bunch of hoops to do a Rapid Rescore and seems to get offended when we talk about shopping this. While I understand she wants a commitment so that she makes money, we need to feel like we aren't getting screwed and getting the best deal possible.
Evil Bill finally quoted me a couple of rates last night. They don't sound that attractive, to be honest, but I also know the market is changing. He is out of the office today, so Keds and I are going to shop a couple of rates today and see where we can get. Wish us luck!
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3 comments:
Sheesh, this guy sounds like a piece of work. Do you really want to give this guy your business?
I'm with Lora. Go shopping. Sometimes it's good to have a lender that knows you well but when they offer advice about financial matters when dealing with your new hubby... no. Kick him to the road.
Yuck! I am sorry you have to put up with this all over again. I wish he would get the hint that you are not going to "run away" with Keds money and he should be doing what is right for both of you.
Shop around and find something you are both comfortable with.
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