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Date Posted: 01:47:49 07/02/09 Thu
Author: Karen (FURIOUS)
Subject: Re: The Continuing Saga...Susan...that's a load of B.S.!
In reply to: Anna May 's message, "Re: The Continuing Saga..." on 14:06:12 07/01/09 Wed

WTF is right, girl! That's ridiculous. A similar thing happened to me when I bought my last Calif. house. I too got the coveted "approval" letter, gave notice to my landlord and made plans to move. Then I heard back from the bank that 'oh sorry, your loan was denied'. On the phone I went, fighting mad. They gave me plenty of excuses. My main argument was "Mr. Smith gave his approval...he signed the letter...do you stand behind Mr. Smith or not?" When they gave me their excuses, wanting this document or that one, I loaded up all my files in a suitcase, drove to that big bank on Ventura Blvd. and staged my own sit-in. Whatever they asked for, I handed it to them...birth certificates, child support documentation, you name it. And I told them I wasn't leaving until I got an answer. I sat there with their nervous Mr. Smith, and finally he got hungry and went to lunch (we were in his glass cubicle and everybody in the bank stared at me and whispered to each other. I found it all quite amusing once I calmed down a bit. I decided I'd wait it out, but in the meantime, I'd called the Bank Commissioner in Sacramento with my story about that 'approval letter'. I waited some more...smiling, even waving a little at the bank workers who kept an eye on me all afternoon. Finally the loan officer came back...asking for more papers, which I handed him. Point was, they were looking for ANY EXCUSE to get out of granting our mortgage, which it sounds like they're doing to you now. This was before the "new rules", but what they're telling you doesn't even make sense. You are right on, Susan. I knew exactly when the Bank Commissioner called them back and chewed them out. You should have seen them all scurry about. The VP finally entered the cubicle and gave me a new approval letter. I said "how do I know you won't change your mind again? Can I trust you? Obviously I wasn't able to trust Mr. Smith's letter, or the fact that the bank would stand behind him". They were pissed, but I didn't care. Two weeks later we moved into our new house. Point is, we're all being screwed these days, but we don't have to make it easy for them. My real estate agent dropped by the next day. She said the whole office was buzzing about what I'd done, and she congratulated me. What's that saying? "Hell hath no fury like a woman who's been scorned?" By the way, who signed your approval letter? If you didn't get it by snail mail, e-mails are considered legal now, too. Don't give up...$400 is a lot of money!!!

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