OT - What are you doing right now?

Eoin said:

fishlessman said:

JohnInCarolina said:

fishlessman said:

trying to refinance the camp.  they seem to want everything, then they seem to make things up on their own. never seen a refinance go down like this. newest, three on the currant mortgage one lives there full time, well thats not owner occupied, thats an investment property. we want a 15 year note, they will give a 20, not a 15, WHAT. tax returns, no, we want 2 years of consecutive  pay stubs, why. 2 bank, 2 refinance brokers, and a credit union,  ten zillion telephone calls a day and not making headway

It's almost as though the people at the bank are having trouble understanding you.  

i think they are at home drinking but still wearing their in training name tags. have you been to an actual bank lately,  last time getting a loan for the truck it took them 20 minutes to find out they stopped doing auto loans.  i got the last  ppp loan from a girl that was selling scratch tickets next to the bank just a few months before.....

Finance is now decision by numbers, allowing them to employ cheap people who tick the boxes and the computer makes the decision.

i dont seem to fit those boxes or the supermarket bag boy isnt filling them properly. i might go down to the bank and have them call a superior to find out if they still do mortgages, i bet they dont know

Ozzie_Isaac said:

JohnInCarolina said:

fishlessman said:

JohnInCarolina said:

fishlessman said:

trying to refinance the camp.  they seem to want everything, then they seem to make things up on their own. never seen a refinance go down like this. newest, three on the currant mortgage one lives there full time, well thats not owner occupied, thats an investment property. we want a 15 year note, they will give a 20, not a 15, WHAT. tax returns, no, we want 2 years of consecutive  pay stubs, why. 2 bank, 2 refinance brokers, and a credit union,  ten zillion telephone calls a day and not making headway

It's almost as though the people at the bank are having trouble understanding you.  

i think they are at home drinking but still wearing their in training name tags. have you been to an actual bank lately,  last time getting a loan for the truck it took them 20 minutes to find out they stopped doing auto loans.  i got the last  ppp loan from a girl that was selling scratch tickets next to the bank just a few months before.....

We set up another HELOC through our bank about five months ago.  One in person visit to sign, took maybe 30 minutes.

We use mobile notaries.  I don't even go to the bank.  I talk to my lender, he says "yay" or "nay", then I sign.  Although, these are very basic notes, with usually only 1 person on them.

The world is no longer setup for unique situations like @fishlessman .   No box to check, then no loan.  That is why good lenders who know the system and what is behind the boxes will always have good jobs.

Where do you find a 'good' lender these days? For my commercial mortgage I had to go through and affordability questionaire for the bank. They have had my account for over 10 years and know all of my outgoings, because they're all on the statement. The regional manager told me that she used to personally sign off £3m mortgages, now she just goes through the details for any amount and the forms go to head office for approval, 1 month later if you're lucky.

Can't find a butcher around me that will shave beef thin enough for cheese steak or pad thai beef.... might be time to buy a Hobart.

JohnInCarolina said:

fishlessman said:

trying to refinance the camp.  they seem to want everything, then they seem to make things up on their own. never seen a refinance go down like this. newest, three on the currant mortgage one lives there full time, well thats not owner occupied, thats an investment property. we want a 15 year note, they will give a 20, not a 15, WHAT. tax returns, no, we want 2 years of consecutive  pay stubs, why. 2 bank, 2 refinance brokers, and a credit union,  ten zillion telephone calls a day and not making headway

It's almost as though the people at the bank are having trouble understanding you.  

@JohnInCarolina dude I just snorted cheap chardonnay out my nose reading this.  Truly one of the best responses ever.  

JethroVA said:

JohnInCarolina said:

fishlessman said:

trying to refinance the camp.  they seem to want everything, then they seem to make things up on their own. never seen a refinance go down like this. newest, three on the currant mortgage one lives there full time, well thats not owner occupied, thats an investment property. we want a 15 year note, they will give a 20, not a 15, WHAT. tax returns, no, we want 2 years of consecutive  pay stubs, why. 2 bank, 2 refinance brokers, and a credit union,  ten zillion telephone calls a day and not making headway

It's almost as though the people at the bank are having trouble understanding you.  

@JohnInCarolina dude I just snorted cheap chardonnay out my nose reading this.  Truly one of the best responses ever.  

Haha.  I was starting to think nobody got that.

fishlessman said:

JohnInCarolina said:

JethroVA said:

JohnInCarolina said:

fishlessman said:

trying to refinance the camp.  they seem to want everything, then they seem to make things up on their own. never seen a refinance go down like this. newest, three on the currant mortgage one lives there full time, well thats not owner occupied, thats an investment property. we want a 15 year note, they will give a 20, not a 15, WHAT. tax returns, no, we want 2 years of consecutive  pay stubs, why. 2 bank, 2 refinance brokers, and a credit union,  ten zillion telephone calls a day and not making headway

It's almost as though the people at the bank are having trouble understanding you.  

@JohnInCarolina dude I just snorted cheap chardonnay out my nose reading this.  Truly one of the best responses ever.  

Haha.  I was starting to think nobody got that.

seems i need to go back and punctuate that dribble better or maybe start it by going on an on about how i rode amtrak for 36 years as vp 

JohnInCarolina said:

fishlessman said:

JohnInCarolina said:

JethroVA said:

JohnInCarolina said:

fishlessman said:

trying to refinance the camp.  they seem to want everything, then they seem to make things up on their own. never seen a refinance go down like this. newest, three on the currant mortgage one lives there full time, well thats not owner occupied, thats an investment property. we want a 15 year note, they will give a 20, not a 15, WHAT. tax returns, no, we want 2 years of consecutive  pay stubs, why. 2 bank, 2 refinance brokers, and a credit union,  ten zillion telephone calls a day and not making headway

It's almost as though the people at the bank are having trouble understanding you.  

@JohnInCarolina dude I just snorted cheap chardonnay out my nose reading this.  Truly one of the best responses ever.  

Haha.  I was starting to think nobody got that.

seems i need to go back and punctuate that dribble better or maybe start it by going on an on about how i rode amtrak for 36 years as vp 

salty or presidential

Steak-umm?

the

Eoin said:

fishlessman said:

Ozzie_Isaac said:

JohnInCarolina said:

fishlessman said:

JohnInCarolina said:

fishlessman said:

trying to refinance the camp.  they seem to want everything, then they seem to make things up on their own. never seen a refinance go down like this. newest, three on the currant mortgage one lives there full time, well thats not owner occupied, thats an investment property. we want a 15 year note, they will give a 20, not a 15, WHAT. tax returns, no, we want 2 years of consecutive  pay stubs, why. 2 bank, 2 refinance brokers, and a credit union,  ten zillion telephone calls a day and not making headway

It's almost as though the people at the bank are having trouble understanding you.  

i think they are at home drinking but still wearing their in training name tags. have you been to an actual bank lately,  last time getting a loan for the truck it took them 20 minutes to find out they stopped doing auto loans.  i got the last  ppp loan from a girl that was selling scratch tickets next to the bank just a few months before.....

We set up another HELOC through our bank about five months ago.  One in person visit to sign, took maybe 30 minutes.

We use mobile notaries.  I don't even go to the bank.  I talk to my lender, he says "yay" or "nay", then I sign.  Although, these are very basic notes, with usually only 1 person on them.

The world is no longer setup for unique situations like @fishlessman .   No box to check, then no loan.  That is why good lenders who know the system and what is behind the boxes will always have good jobs.

my last home finance a few years ago was thru citibank, no paper transfer and they showed up in a week and signed in my office. it was effortless

The problem here is that they tightened rules after 2008 and put in strict 'affordability' criteria with many boxes to tick. If you have don't have a good enough credit history or employment history, you can't get a loan, so you have to pay the same amount in rent to pay off the mortgage of someone who does have a credit history. We've lost our way somewhere.

im starting to think the banks dont want the loan because of the low rates, pushing the loan up to 20 years verse the 15 increases the rate significantly. same with occupied verse investment loan type. credit history for the three of us is in the excellent range, each could take the mortgage on their own. employment history goes back 40 years for me and the others as well, same family business. they are working hard to raise the rate or walk away. thats the only way i can see it or i cant afford to pay 300 dollars less a month on a loan ive been paying for the last 17 years. anyways, now bartering with the original mortgage bank holder

Ozzie_Isaac said:

Gulfcoastguy said:

fishlessman said:

the

Eoin said:

fishlessman said:

Ozzie_Isaac said:

JohnInCarolina said:

fishlessman said:

JohnInCarolina said:

fishlessman said:

trying to refinance the camp.  they seem to want everything, then they seem to make things up on their own. never seen a refinance go down like this. newest, three on the currant mortgage one lives there full time, well thats not owner occupied, thats an investment property. we want a 15 year note, they will give a 20, not a 15, WHAT. tax returns, no, we want 2 years of consecutive  pay stubs, why. 2 bank, 2 refinance brokers, and a credit union,  ten zillion telephone calls a day and not making headway

It's almost as though the people at the bank are having trouble understanding you.  

i think they are at home drinking but still wearing their in training name tags. have you been to an actual bank lately,  last time getting a loan for the truck it took them 20 minutes to find out they stopped doing auto loans.  i got the last  ppp loan from a girl that was selling scratch tickets next to the bank just a few months before.....

We set up another HELOC through our bank about five months ago.  One in person visit to sign, took maybe 30 minutes.

We use mobile notaries.  I don't even go to the bank.  I talk to my lender, he says "yay" or "nay", then I sign.  Although, these are very basic notes, with usually only 1 person on them.

The world is no longer setup for unique situations like @fishlessman .   No box to check, then no loan.  That is why good lenders who know the system and what is behind the boxes will always have good jobs.

my last home finance a few years ago was thru citibank, no paper transfer and they showed up in a week and signed in my office. it was effortless

The problem here is that they tightened rules after 2008 and put in strict 'affordability' criteria with many boxes to tick. If you have don't have a good enough credit history or employment history, you can't get a loan, so you have to pay the same amount in rent to pay off the mortgage of someone who does have a credit history. We've lost our way somewhere.

im starting to think the banks dont want the loan because of the low rates, pushing the loan up to 20 years verse the 15 increases the rate significantly. same with occupied verse investment loan type. credit history for the three of us is in the excellent range, each could take the mortgage on their own. employment history goes back 40 years for me and the others as well, same family business. they are working hard to raise the rate or walk away. thats the only way i can see it or i cant afford to pay 300 dollars less a month on a loan ive been paying for the last 17 years. anyways, now bartering with the original mortgage bank holder

Or you could take the 20 year mortgage, pay extra principle each month, and pay it off in 15 years or less. Sort of what I did with my 15 year mortgage that I paid off in less than 12 years. For the first three years I just doubled the principle portion of each monthly payment thus reducing the length of the mortgage by an extra month but for way less than a doubled monthly payment. I slowed down when the principle portion of the monthly payment finally exceeded the interest portion.

With inflation running amuck, best to lock in as much debt as you can now.  Money will be cheap in another few months.  Buy as much capital as you can now, then pay it off with a dollar in the future worth $0.25 in todays money.

Inflation is great for those carrying a lot of debt, it is bad for savers and cash heavy folks.

Said the US government. Maybe why they are creating it to start with? Hmm