TranquilMind Posted October 5, 2012 Share Posted October 5, 2012 (edited) I've had numerous calls from a major lender with whom I have a personal and rental property mortgages. Finally, I decided to pick up and tell operator I would listen IF she would remove me from the calling list. She agreed. Really obnoxious woman salesperson/refinance person came on. This got so funny that I started to laugh. Here's sort of a summary of our conversation. [background: Several mortgages with this company, perfect repayment record for over a decade, perfect credit...all of which is available to her at the moment] SP (salesperson): Is this X? (asking for husband) Me: No, this is X's wife (um, I don't sound like a man). To whom am I speaking, please? SP: I am X, with X mortgage. We are calling all of our customers with higher interest rates (mine in 5 ranges, but then I'm selling something soon to finance college) in order to tell them to refinance at favorable rates? Can we sign you up? Me: HOW MUCH? Talk to me about the money. What is your yield spread premium (profit)? What are your fees? I need to start here to see if we proceed. SP: Um, no, under new Congressional rules, I cannot give you specifics until you fill out an application! (BS) Me: Well, I cannot fill out an application, until I know that you have something that is financially beneficial to me. How much will this cost? What is the yield spread premium? SP: Well, it depends on how much is refinanced, and the great thing is...our customers decide how much to pay! It can cost you anywhere from nothing to $3000! So...if we can begin filling out your application. Me: Perhaps you aren't understanding me. Perhaps you think this is like the health care bill - pass it and then we will let you know what is in it! Sorry...I don't do business that way. I've been a landlord for over a decade and have done this a few times. You will have to give me figures, assuming the facts I give you - which you already CLEARLY HAVE. On X property, you KNOW I own X amount, at X interest rate. We have X dollars of equity at the present time. Assuming ZERO POINTS (because who would pay points for an even lower mortgage when interate rates already in the 2's), perfect credit, and refinancing a mortgage of X dollars - which you have right in front of you - HOW MUCH will it cost me and WHAT will be the interest rate? SP: Oh, I can't give you figures. You just have confirm all your personal information for me on the phone here, and THEN I will tell you what it will cost you. All of my INTELLIGENT customers have done this. I've spent 15 minutes with you already and I'm a busy person. All of the other customers just want to pay lower interest rates and they give me the information I need in order to tell them how much it will cost them. Me: (Laughing) It is unfortunate that you believe I am not intelligent because I haven't given you my information that you already have so that you can tell me the costs - which I do NOT already have. You are hands down the most contentious mortgage person I have ever dealt with - when I call my normal broker, he just tells me what I want to know, and I've used him about 12 times now. You will have to do better than this if you want my business. SP: (Giving up). Ok, our fee for streamlined mortgages (which you qualify for) will be $750, the appraisal fee will be waived, and you buy title insurance at the company of your choice. If you want to pay no points, you will pay a rate of X on a Non-Owner Occupied property. Me: Thank you. That was rather difficult to extract that information but I appreciate it and will discuss it with my husband. You have a great day! (Thinking: Maybe I will be "intelligent" enough to call you back) LOL Edited October 5, 2012 by TranquilMind Quote Link to comment Share on other sites More sharing options...
Susan in TN Posted October 5, 2012 Share Posted October 5, 2012 :lol: Quote Link to comment Share on other sites More sharing options...
Catwoman Posted October 5, 2012 Share Posted October 5, 2012 Wow. :001_huh: What an idiot. :glare: You were having fun toying with her, weren't you? :tongue_smilie: Quote Link to comment Share on other sites More sharing options...
TranquilMind Posted October 5, 2012 Author Share Posted October 5, 2012 Wow. :001_huh: What an idiot. :glare: You were having fun toying with her, weren't you? :tongue_smilie: Yes. The great irony here is that she said that for customers in bankruptcy, foreclosure, and financial straits would be denied...yet this mortgage company itself is in restructure for bad debt! I pointed out that while we are perfect A+ rated customers, the mortgage company itself was in financial trouble so why should I refinance with it? Crickets.... Actually, I know the answer. The company is trying to dig itself out and stay afloat by taking in millions in fees for refinancing customers. But I still found it pretty funny.:tongue_smilie: Quote Link to comment Share on other sites More sharing options...
Cinder Posted October 5, 2012 Share Posted October 5, 2012 Way to go! :thumbup: Quote Link to comment Share on other sites More sharing options...
Sahamamama Posted October 5, 2012 Share Posted October 5, 2012 Me: Perhaps you aren't understanding me. Perhaps you think this is like the health care bill - pass it and then we will let you know what is in it! Sorry...I don't do business that way. Your whole post was funny, but this especially caught my eye. Not to start a debate or anything.... :tongue_smilie:This reminded me of how health care really does work that way. Years ago, when I was graduate school, I had what I considered "brain tumor" insurance -- it was worth the premiums to know that I'd be covered IF I had a brain tumor. Other than that, it was mostly worthless. At an appointment with an endocrinologist, he recommended setting up another appointment for an ultrasound. Me: Before I agree to that, I need to know approximately how much that will cost. Him: We have no idea, until after you have the procedure. Don't worry, we'll bill you. Me: Yes, that's the problem. You will bill me, which means I have to pay. So, I need to know HOW MUCH I'll need to pay, so I can decide whether or not to have the ultrasound. How much will it cost? Him: I can't tell you that, until after you have the procedure. Me: But I need to know BEFORE the procedure, so I can determine my ability to pay for it. Him: But there's no way to determine what the bill will be at this point. Me: Will it be $100? $1000? $10000? A ball-park figure would work here. Him: We have no idea. We can't tell you, because it depends on how much the doctor who reads the ultrasound charges, and how much the doctor who writes the report charges, and so on. Me: Will you be doing the ultrasound? Him: Yes. Me: So, you are the doctor who reads the ultrasound and writes the report? Him: Possibly. Me: So, what do you usually charge for an ultrasound of this magnitude? Him: We can't possibly tell you what we will charge you, until after the procedure.... :banghead: Me: You do realize, don't you, that I don't buy so much as a pair of shoes this way? I finally got his nurse to tell me it would be "about $900." For 10 minutes in the office. Sigh. Quote Link to comment Share on other sites More sharing options...
TranquilMind Posted October 5, 2012 Author Share Posted October 5, 2012 Your whole post was funny, but this especially caught my eye. Not to start a debate or anything.... :tongue_smilie:This reminded me of how health care really does work that way. Years ago, when I was graduate school, I had what I considered "brain tumor" insurance -- it was worth the premiums to know that I'd be covered IF I had a brain tumor. Other than that, it was mostly worthless. At an appointment with an endocrinologist, he recommended setting up another appointment for an ultrasound. Me: Before I agree to that, I need to know approximately how much that will cost. Him: We have no idea, until after you have the procedure. Don't worry, we'll bill you. Me: Yes, that's the problem. You will bill me, which means I have to pay. So, I need to know HOW MUCH I'll need to pay, so I can decide whether or not to have the ultrasound. How much will it cost? Him: I can't tell you that, until after you have the procedure. Me: But I need to know BEFORE the procedure, so I can determine my ability to pay for it. Him: But there's no way to determine what the bill will be at this point. Me: Will it be $100? $1000? $10000? A ball-park figure would work here. Him: We have no idea. We can't tell you, because it depends on how much the doctor who reads the ultrasound charges, and how much the doctor who writes the report charges, and so on. Me: Will you be doing the ultrasound? Him: Yes. Me: So, you are the doctor who reads the ultrasound and writes the report? Him: Possibly. Me: So, what do you usually charge for an ultrasound of this magnitude? Him: We can't possibly tell you what we will charge you, until after the procedure.... :banghead: Me: You do realize, don't you, that I don't buy so much as a pair of shoes this way? I finally got his nurse to tell me it would be "about $900." For 10 minutes in the office. Sigh. Bwahahahaha! Yes...exactly the same situation. How dumb are they and how dumb do they think WE are??? Quote Link to comment Share on other sites More sharing options...
Sahamamama Posted October 5, 2012 Share Posted October 5, 2012 Bwahahahaha! Yes...exactly the same situation. How dumb are they and how dumb do they think WE are??? Yeah, he was trying to really beat around the bush, but I pegged him. And he was NOT happy about it. I think his nurse (who was there the whole time) had to choke back a laugh on that one. As soon as he left the room, she confided in me. TM, I like how you handled Obnoxious Refinance Woman. Very intelligent of you! ;) Quote Link to comment Share on other sites More sharing options...
TranquilMind Posted October 5, 2012 Author Share Posted October 5, 2012 Yeah, he was trying to really beat around the bush, but I pegged him. And he was NOT happy about it. I think his nurse (who was there the whole time) had to choke back a laugh on that one. As soon as he left the room, she confided in me. TM, I like how you handled Obnoxious Refinance Woman. Very intelligent of you! ;) Too bad she doesn't think so. The funny part was that I just read an article by a scammer who did prison time for stealing millions of dollars from unsuspecting people in the (embarrassed) AARP Magazine! Yes, I get the AARP Magazine....OK???:tongue_smilie: Anyway, he said the targets weren't the unintelligent, because most of the people who had thousands of dollars to be extracted from them WERE intelligent. The ones he avoided were those who asked the most questions and refused to comply with his specific demands. He said he started out a conversation with variations of, "Tom, we are going to make some REAL money on this investment so put down the phone and get a piece of paper and a pen right now." If the person complied, he knew they were going to fall hard. If the person said, "Hold on, back it up a minute here....who are you, and explain to me precisely how this works and how you make your money?" then he would hang up. Quote Link to comment Share on other sites More sharing options...
Sahamamama Posted October 5, 2012 Share Posted October 5, 2012 If the person said, "Hold on, back it up a minute here....who are you, and explain to me precisely how this works and how you make your money?" then he would hang up. :glare: The question is (in a general sense of "you"), do you follow through when this happens to YOU, so it doesn't happen to someone ELSE? I do try to report this sort of thing, because people like that do belong in prison. :tongue_smilie: Quote Link to comment Share on other sites More sharing options...
TranquilMind Posted October 5, 2012 Author Share Posted October 5, 2012 :glare: The question is (in a general sense of "you"), do you follow through when this happens to YOU, so it doesn't happen to someone ELSE? I do try to report this sort of thing, because people like that do belong in prison. :tongue_smilie: Yes, I would totally report it. But I just read about this one in a magazine... Quote Link to comment Share on other sites More sharing options...
Sahamamama Posted October 7, 2012 Share Posted October 7, 2012 Yes, I get the AARP Magazine....OK???:tongue_smilie: :lol::lol::lol: Quote Link to comment Share on other sites More sharing options...
Pegasus Posted October 7, 2012 Share Posted October 7, 2012 Good for you! The sad thing is, many people would just go along with her. Financial literacy is pretty rare. Your exchange reminds me of when someone was trying to sell me whole life insurance. They couldn't tell me what would be paid out in various situations. The company had "calculations" for that and it would be determined at the time of payout. Ummm. . ..yeah, sign me up!:confused: Quote Link to comment Share on other sites More sharing options...
Elizabeth in MN Posted October 8, 2012 Share Posted October 8, 2012 What we love in this home is when people call to help us with our credit cards and their rates. Not a single person in this house has a credit card, or has had one in over a decade. As a matter of fact, my church (LDS) recommends we not get credit cards. You should hear the crickets when I tell the sales people that credit cards are against my religion! :D Quote Link to comment Share on other sites More sharing options...
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