Friday, March 15, 2013

Coming Home For a Stay

I'm back once again from fighting for the forces of nihilism against all that is good and decent in the world. It's a dirty job and you get a lot of slime on you. Hoping to make this as permanent a vacation as the one I'm attempting to take from my former position of baker extraordinaire at Price Chopper supermarkets. Yes, now it can be told. Anyway, if I write much here, I'll attempt to focus on the local and justify my use of the Hometown label.

I'm presently attempting to move from being a renter to homeowner. In that effort, I went to my local bank where I maintain a checking account and told them I was interested in obtaining a mortgage. The loan officer finding that I had no real estate agent informed me that she knew several in the area and would have one of them give me a call. That seemed very helpful until I found that the agent she had call me was her husband. They all got the heave-ho, although my measly checking account is still with them. Conflict of interest much?

Moving on from there in my quest for financing I landed at Wells Fargo here in Glens Falls. I do have an IRA that is held by them so I thought it appropriate to approach them for the loan. Since I am presently unemployed I expected that they would laugh in my face at my request for funds. If only! They took my application seriously and also took $381 for an origination fee. I thought this was moving along nicely in my direction.

Then a week ago the agent in the GF branch requested copies of my 2012 tax returns which a week previously the Saratoga branch had told me would not be required. Along with the question of how often my former company pays out on my pension, this set off some warning bells. I took a lump sum on the pension so that was a one time good deal. Quite sure that answer didn't help.

Thankfully, I do have (hopefully) sufficient funds to enable me purchase the house I'm looking at outright which I should have done in the first place saving time and money. I have eschewed the rock and roll lifestyle for the cheapskate lifestyle for some time now. So, Wednesday this week I called the GF office to try and get some idea of the verdict on my application. Thinking the agent must have been busy on the previous day, I called and left another voicemail on Thursday morning. That afternoon I gave up on him and called the Saratoga branch. They informed me of the death of my mortgage request.

The moral of this story is that if you can possibly afford to pay cash, pay cash. If you need a mortgage avoid Wells Fargo. BTW, the paperwork went out today to move that IRA to a financial institution with more class.

Live cheap, live well!

UPDATE: Today is Saturday and day 4 of Wells giving me the silent treatment. Not that I expect them to call me on a weekend. But, my real estate agent called yesterday and I talked to her about going forward with financing the purchase on my own. Happened to mention the $381.98 I paid Wells. She reminded me that they  had given me a prequalification on the mortgage. Yes, that's right and then denied me it. So, Friday afternoon I called and requested my money back (to another, number 3, voicemail). I'm really having a ball with this. Anyway, $370 was for an appraisal. Not sure why they would appraise a house that they're not giving me a mortage for. And $11.98 was for a credit report. I want the money back for that, too. The credit report said I pay my bills and they still denied me the mortgage so apparently it's worthless and they can pay for it. I'm calling my legal team of Dewey, Cheatem and Howe on Monday.

I don't think prequalification means what they think it means (or it doesn't mean what I think it means).


  1. phew... Sounds like hard work, Kevin.

    I don't know how you deal with the "slime" btw... Even a lot of the Right-wingers I argue with have a core of human empathy somewhere.
    They're just wrong, not emotionally retarded.

    The mad professor, though, is just a funnel for anything on the Right no matter how extreme, and against anything on the Left no matter how moderate.

    Isn't it a bit like arguing with a horse about where it craps?

  2. Hello Magpie, I gotta update my address book here. The mortgage thing has been amusing. Gave me something to write about my first day back. By hook or by crook I will be in my house in the next 2 or 3 weeks. Trying to get in by gardening season (in our hemisphere anyway). It's a casita, cuz I'm not much on housecleaning. Almost a half an acre, tho. We have a movement in the US referred to as community supported agriculture that I'm interested in supporting.

    Don't know much about horses, but gave up arguing with Our Donald long ago and just started having sport with him. For some time now I felt that if he went "postal" in any way I might feel somehow responsible. He is pretty insane.

  3. Stay as far away from Wells Fargo as possible.

  4. Thank you BB. Don't know how you stumbled upon my corner of the web. Always welcome.