DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Walking away from your mortgage just got a lot scarier

**vaalmerruutel** · 10-04-2011, 09:03 PM

My mortgage company has been hounding me to refinance, and I thought it was suspicious (lots of emails and oddly, FedEx packages). I don't think they have any idea where the documents are for my mortgage, and they want to get new ones. They are offering quite a deal for a person like me - no closing costs and 3.25% fixed APR. The offer has language like "even if you were recently turned down".

No thanks.

See, this frightens me... If the bank does not hold the note, you pay off the house in 10-20 years and they say, Umm we don't know who owns your home... Sorry have a nice day.

I'm planning on selling mine in the next year or two (getting rid of the mortgage) and paying cash for the next one.

10-04-2011, 09:03 PM	#18
vaalmerruutel Join Date Oct 2005 Posts 487 Senior Member	My mortgage company has been hounding me to refinance, and I thought it was suspicious (lots of emails and oddly, FedEx packages). I don't think they have any idea where the documents are for my mortgage, and they want to get new ones. They are offering quite a deal for a person like me - no closing costs and 3.25% fixed APR. The offer has language like "even if you were recently turned down". No thanks. See, this frightens me... If the bank does not hold the note, you pay off the house in 10-20 years and they say, Umm we don't know who owns your home... Sorry have a nice day. I'm planning on selling mine in the next year or two (getting rid of the mortgage) and paying cash for the next one.
	Quote