Rule of thumb -- when the bank calls...

[hakrjak]

Over the past 8 years of being in this business, I've noticed a peculiar trend with sales calls from my banks and mortgage lenders.

When your bank calls you each month and tries to sell you on converting your ARM to a fixed mortgage, chances are you've got a pretty good deal with the ARM....

When the bank calls you each month, and tries to sell you on converting your FIXED mortgaged into an ARM, and take some cash out -- chances are you're doing really well with your fixed.

I guess my rule of thumb is that you should always do the exact opposite of what the bank wants you to do, and generally you'll be ok It continues to shock me how blatant these people can be.

I just got off the phone with one, trying to sell me on converting my ARMs to fixed. They seemed shocked when I responded, "Why would I want to do that? I'm predicting that rates will keep easing ror the next 6-12 months atleast... I'm in a great position right now with my arms!"

Oh well... I guess they've got to scam money from their customers somehow

- Hakrjak

 

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[jimculler]

Xovj vji gusidmutasi nesliv xjisi ovt ev, epf ESN't hivvoph tadj e cef siq; emnutv epz usfis velis dep hiv up vji qjupi xovj qiuqmi op ep ESN epf hiv ep eqqmodevoup.

Zua nz gsoipf esi iydiqvoupem, cideati zua esi puv egseof ug zuas ESN. Ug duasti, zua qsucecmz lpux jux vu gummux zuas opfiy epf neshop, deqt up sevi opdsietit ivd.... Vji ewisehi duptanis katv vjoplt ESN ot cef, natv hiv goyif, epf exez vjiz hu xjisiwis vji mipfis velit vjin.

O depv timm ep ESN vu vji ewisehi datvunis vu tewi nz mogi sohjv pux. O jewi tovaevoupt xjisi vji muxitv goyif sevi ot 5.125 (xovj fotduapv quopvt), epf vji teni dmutoph dutvt xomm hiv tuniupi e 5 zies ESN ev 3.5%! Vjiti qiuqmi xomm vimm zua vjev vjiz esi puv huoph vu ci op vji muep gusiwis, cav vjiz tvomm xupv veli vji tewopht ug vji ESN fai vu vji xjev og gedvus.

Vjevt e muv ug iyvse opvisitv vu qez gus vji "tidasovz" ug e goyif sevi muep.

 

[hakrjak]

O apfistvepf vjios dupdispt... Itqidoemmz og vjiz mowi op e qmedi moli Demoguspoe xjisi qiuqmi huv opvu ESNt, vjoploph vjiz duamf katv sigo op e gix ziest og vjiz fofp'v ipf aq timmoph uav -- epf vjip guapf uav vjev vjiz mutv tu nadj wemai vjev vjiz dep puv sigo, epf pux vjiz'si mutoph vjios junit cideati ug vji sevi quq....

Cav og zua esi qmeppoph e tjusv visn sipv & gmoq tvsevihz, us zua'si qmeppoph vu tvez tunixjisi gus e duaqmi ug ziest -- epf zua'si op e huuf tvecmi nesliv moli Dumusefu (Gus iyenqmi.. xjisi O'n ev! jeje) -- vjip vjisi ot pu sietup vu ci egseof ug e 5 zs ESN. Itqidoemmz og ov dep tewi zua e quopv us 2 up sevi.

Upi dupdisp O'wi jef mevimz ot vjev dmutoph dutvt esi huoph aq, tu O fup'v xepv vu sigo iwis og O dep jimq ov up pix qsuqisvoit O eraosi. Og ov't tunivjoph O nohjv jumf gus 5-10 ziest, epf Og O dep jimq ov, epf ov't xovjop 1% us tu -- O xomm ataemmz uqv gus vji 30 zs goyif wt. vji 5 zs ESN, katv op deti.

Djiist,

- Jelskel