Bringing Down the Hammer of God.... The Trilogy Ends

Well, as they say, "this too shall pass", and quite frankly, it's about fraking time.

When we last left our hero (well, anti-hero actually), he was busy trying to slay the beast known as BoA (Bunch of Assholes) over a dispute on interest rates (see here). Well it was at that time that the wife and I decided to rid ourselves of those life-blood sucking leeches and move on to another bank. Only one thing stood in our way: selling our home in Raleigh (which if I posted about that it be nothing but profanities, literally). Well as this is the fourth scheduled closing (that's right, the fourth closing), and it appears this one will stick, we can give the heave-ho to BoA. Here is the latest trick they pulled:

The wife and I, on the advice of our accountant and attorney, took out a loan to cover our taxes last year, and I'll just throw and even number out there of $15K. We go to BoA and take out a second mortgage, with a 15 year payout. Well we were paying more that the required payment (actually double the amount) so's to knock it down fairly quick. Without getting into specifics, we were around $750 (leaving $14,250, using the number above). Well when we got the payoff amount sent to the closing attorney, the payoff was.........$14,950 {for January 31st closing}, and for this final closing {April 5th} the payoff was........$14,965. Meanwhile we are still paying on the damned house, and it should have gone down, right? I'm no fucking accounting expert, nor am I a financial wiz (my wife handles all of that), but that number does not seem right to me, nor to my wife.

I checked the original loan document, no mention there of any penalties, no prepayment penalties, no penalty for anything. So answer me this:

How in the name of Jesus H. Christ and his disciples can they do this and get away with it? Is it some superpower only banks have? Am I just some schlep who is ignorant in the ways of the financial world (that is probably the answer), or is it that, over the last six years, prior to the Democrats taking over, that one of only three bills passed by the Rubber-Stampers was this little piece of shit. I guess maybe it's not me. Oh well, it will only hurt for a little while.

I would like to wrap this up with a "moral to the story", however I only have two words: caveat emptor

Note: One of the main reasons I have been AWOL these past couple of months has been due to this house fiasco in Raleigh. This is the CLOSEST I have ever come to completely losing my slim grip on reality. Hopefully, if all goes well, I can kick this house (and our agent) to the curb and get back my life (which I am sure my wife would really appreciate). Apologies to anyone in the group who works for BoA.

UPDATE: The house has oficially closed. We can actually start putting money into savings (obviously not at BoA) again.


Glad you're back

and glad the sale of the house may finally take place.

Robin Hayes lied. Nobody died, but thousands of folks lost their jobs.

Vote Democratic! The ass you save may be your own.