Hubs is getting ready to retire this year and he thought he might want to remortgage the house to lower payments... Well, we had a company call, ask for him and they said they were VA and wanted to look into reducing payments with a refinance. So he made a appointment today at noon.. He searched for the house documents, and we were ready... WELL, at 10 am there was a knock on the door, it was the guy from this company, not a VA company but Mortgage Investors Corporation. The guy knew he was early but his other appointment cancelled.. OK, now Hubs works night and he was still in bed, so I went to get him up. The man came in and started his presentation.. I really hate those canned presentations from these companies... they have this notebook that folds for display and they have to read word for word what is on the page, give me a break, I can read and I really don't need anyone reading to me.. so I ask if he could get down to the business at hand as I could read. He did and the numbers looked good, real good, the closing costs weren't that bad, BUT I am also sceptical of these type companies and I ask Hubs if he wanted to do the application or if he wanted to wait a week so I could do some research.. Guess what, that ticked off the salesman, and I will call him a salesman's as he was in a big hurry to close the deal. NOT ME, I want to research the company and check BBB as well. The salesman got really huffy, he reminded me of those salesman who try to sell time shares, you listen to the presentation and if you don't sign on the dotted line they turn nasty.. but they do work on commission, so I guess our salesman did to, even though he denied it. He said he was salary, which was another flag... I was told he couldn't come back he was to busy, now they called Tuesday for a Thursday appt... real busy... I was told they couldn't give the low rate unless we signed today, no pressure here at all *right*... The red flags kept flying all over the place, can't come back, can't give the rate unless signed today, Then he said Why did you wait 14 years to refinance... I mean this guy was nasty, rude, and just over the top trying to make his sale, but you won't make a sale with pissing me off. So he had to call his supervisor, even though his card said regional manager... That man wanted to talk to me and he did and I told him I did not appreciate a rude salesman in my house.. I would look into the program and if it was what we needed we would get back to them.. I don't jump into things blindly. I mean I was just about at the point I was ready to kick the guy out. After the salesman left, I checked out Mortgage Investors Corp. online and all I found was bad things about them. I found a site with so many complaints like how they are rude and nasty and don't take no for a answer, they will do a bait and switch, they keep finding new costs that must be paid before the loan goes through, they don't close on time, they sell the loan after they get it. I also went to BBB and they have 400 plus complaints against them... good thing we didn't sign on the dotted line... But I do wonder what some of these elderly people do when they run into a bad company like this... They get the loan and find out it is worse then what they have and there is nothing they can do... where is the honest businessman these days, the guys that will help you and still make money. This company only caters to vets, They want to contact every Veteran. What a way to treat our men and women who fought to protect and then get guys like this to deal with, a enemy at home..
We had a similar incident last year with a contract representative for AT&T trying to get us to switch, the gal promised the world and when the installer came out he said that what she ordered isn't what she showed us on paper, see I was again watching as I kept her paperwork on what she was selling. I called her with the problem and her response was to have it installed and she would take care of things afterward, NO way am I going to agree to something different and wait for it to be fixed. Took to AT&T and was told that if I had did what the gal told me to do I would have been stuck as there was no fixing anything, she couldn't offer and back the deal, that gal and that contractor firm is no longer selling for AT&T.
Bottom line, PLEASE be careful... Don't jump into a deal on a salesman's word, don't let them high pressure you into anything.. Stand your ground... check them out, we have a great information highway and can find out almost any information on a company, the good ones and the bad ones, BE INFORMED and make decisions on what you learn not what they tell you.
Anyway, looks like we will be on the hunt for the best rate on a refinance.....