Have a 4pm appointment and the woman’s name seemed familiar. And sure enough I just signed a refinance with her two months ago. A transaction she paid 23K in closing costs.
Now she’s getting another HELOC on top of that and calls and says the lender said I can’t sign some of the stuff the other lender has so be sure to bring everything they need or you might have to come back.
I got the documents yesterday. Come back? Not likely. This woman took forever because she had her son there and she kept asking him about what she was signing and he wanted to review each document.
Oh boy. This should be lots of fun. She says well if you don’t have everything you may have to come back. Oh, that’s sure doubtful LOL.
That is crazy close together. I have a few times now met the same people 2 times but I think the closest was 9 months or so to get the cheaper interest rate they got a few years back. I just hope someone isn’t taking advantage of her and spending her money.
I don’t find it typical. And I think it’s predatory when she’s mortgaging up to the edge of appraised value that I found pretty unrealistic. It’s a HELOC on top of the refinance she paid a fortune for that paid off all her debts. And in the first signing she called the loan officer because they paid off the daughter’s car she co-signed on and not her own car and she was all irritated by that. And she even said well I’m going to trade for a new car anyway. And it’s just a good example of how people push their own envelop on what they can afford. I’ll go and keep my mouth shut but she’s living on the edge.
It is strange that I had a similar situation. In this case she did a first mortgage a few months back with money out, then a week ago she did a second mortgage with money out. I was confused like you but she seemed to know what she was doing so I was not alerted. She also had a son, but he did not participate at all.
