I’m not sure what prompted me to answer one of those solicitations – I can’t even remember where I saw it – but I inquired about a refinancing on my house.
Now that is really not that unusual for me since I probably examine the prospect about every four years and I was told surprisingly that most people do the same.
II have never been much of a fan of someone else possessing my equity on anything and usually try to finds a way to access such funds although I have to admit it is getting tougher.
I guess I should have expected what occurred when I inquired about a refi. My telephone just flat exploded with identifiable phone numbers from North Carolina to California and many in-between.
Then there were those calls that identified as from Montana and the person on the other end sounded like maybe they were Mozambique instead of the Treasure State.
Initially I answered a few of them even those that came before 8a.m. and after 9 p.m.
But when I settled on where I would get more information I told a couple of them to stop calling and just stopped answering the phone at all.
But that didn’t stop the calls. It really didn’t stop the calls and I’m not Sure now after more than a week how a person can get rid of them.
Enough said but why I chose to seek more info and how that worked out.
I encountered a personable young guy – a Marine which didn’t hurt – who walked me through a scenario of financing ideas many of which I had never heard of.
I already have a decent interest rate – 3 3/8 – and while I can handle a bit more of a payment I would rather here in the midst of retirement years keep it around where it is.
Now while I am sure not going to recommend any financing program over another and am not even sure I will qualify for the one I chose which would gradually increase the interest rate but jump my payment a bit.
But it not only is a shorter term than I have ever considered, it is a veterans program I have never heard of.
If the appraisal comes in where I expect I’ll be able to spring some of my equity to further establish a reserve fund.
So please willy wonka no more calls just wish me luck