Okay, is it just me or do people get crazier every single day? Today has just been a really bizarre day. I started off my morning by calling a title company to schedule a closing for one of my borrowers. I have been emailing and calling this lady for about two weeks. I sit on hold for fifteen minutes until she finally gets on the phone. I ask when we can schedule the closing and also ask if I can verify her email address. (This is my passive-aggressive way of saying "why haven't you called or emailed me back?") She answers with "you know what? I get like a thousand emails a day. I don't possibly have time to read them all." Excuse me? Isn't that part of your job? I get like TWO thousand emails a day and I still manage to at least read every single one! That's part of my job! I can't imagine my boss' reaction if I EVER said that to a client! So anyway, I wasn't very nice to her. I snapped back at her and told her that in this market, she should be BEGGING me for my business, not snapping at me. I never, ever snap at anyone at work, but she really pissed me off.
And then I get a call from someone who wants to refinance his investment property. The tenants are on a lease-to-purchase contract and will be buying the house in a little over a year. So in doing my research on this property, I discover that his tenants have put his house on the market! They're trying to sell a house they don't own! Can you imagine?
I spent about 20 minutes of my morning explaining to another person that no, the cost of your homeowners insurance, which protects you against fire, theft, etc., is not included in the price of the home. It's like car insurance - you have to insure it for as long as you own it and have a lien against it, and it's not included in the purchase price. Naturally, she's a first-time homebuyer who is far smarter than we are. I believe it was her husband's cousin's nail tech who told her she shouldn't be paying for homeowners insurance. Lovely. The only time you don't is when your HOA pays for it, like with a condo. Don't get me wrong - I know most first-time homebuyers don't know a lot of this stuff (I wouldn't if I weren't in the industry), but when I explain it to you, I'm really not trying to trick you and I'm not going to lie to you. Just take my word for it and save us some time.
Then there's the 82-year-old guy who "don't speak to no women about no business matters" and every time I get him on the phone, I have to listen to him scream at me because we're all trying to swindle him out of money.
I can honestly say that the mortgage broker I work for is an honest guy. I've worked for three non-honest mortgage brokers and I can tell the difference. With this guy, his biggest concern is helping the client. The other guys - it was all about filling their pocketbooks. I understand why people are wary right now because of all the negative press recently about the mortgage business. It just makes my job tougher. Good thing my salary got cut by 25% to make the whole thing worthwhile... Grrr