First Master List FAILURE!
Filed under Dinky Manor, Miss Moneybags, Noted
Wow, this sucks. This morning my application to refinance my mortgage was denied due to my last year’s income of $18,000, which I was completely up front about at the beginning of the process. The fact that I can live on $18,000 in Los Angeles and maintain a high credit score and pay all my bills on time was apparently unimpressive to the GMAC Mortgage company, who, by the way, are the holders of my current mortgage. To make matters even more annoying, is that I was asking for a more conservative loan than my current mortgage which would have been less risky for them.
Why does it shock me that mortgage companies are still punishing people who live below their means, even after the financial meltdown?
As much as it hurts my completist self to fail to complete #71 on my master To Do list, I’m going to channel my annoyance into further belt-tightening. Between dumping my landline and fine tuning my home and auto insurance, I’m going to save $400 this year. Since I’m that contrarian “You’re not the boss of me” girl, GMAC’s rejection is just more motivation to scrutinize where my money goes at the granular level.
One Comment
My saga of paying off my Ch 13 bankruptcy which had my house and car in the plan seems to never end. Maybe this last communication from Wells Fargo is really the end. I had an escrow overage, it appears, so I received a check–$0.36. Nothing mortgage companies do surprises me anymore. I have been paying on this mortgage since 1977, and I had tales to tell even back then. They finally made my cry this year!
Max, I know you will get it done! Linda