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today's robocalls - mortgage refinance feeler
Posted by: mattkime
Date: June 09, 2021 02:18PM
I've refinanced my mortgage a few times in the past year so I'm used to getting cold calls about refinancing. Yesterday I got one that sounded normal until I attempted to point out that I had a better interest rate than what they were offering me. The man repeated his last sentence verbatim - it was a robot.

I got the same robot today and asked him how the weather was at his first pause. He repeated himself, I repeated myself, and he hung up.

Asking about the weather is going to be my screener for phone robots.



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Re: today's robocalls - mortgage refinance feeler
Posted by: NewtonMP2100
Date: June 09, 2021 02:30PM
.....what happens if you ask the robot out......on a date.....???



_____________________________________

I reject your reality and substitute my own!
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Re: today's robocalls - mortgage refinance feeler
Posted by: Robert M
Date: June 09, 2021 02:55PM
Matt,

How many times have you refinanced your mortgage ion the last year? You've really done it more than once? I refinanced last year and just that one task took nearly three months. Couldn't imagine doing it more than once every X number of years and that assumes doing so is worthwhile.

'course, my most common robocaller is for auto warranties. I just hang up if it's a robocall. Occasionally, I'll get a live person. In that case, I ask if the warranty covers flatulence problems and pretend to fart as I'm speaking with the rep. One of them actually put me on hold to double-check! Laughed so hard that it gave me the hiccups.

Robert
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Re: today's robocalls - mortgage refinance feeler
Posted by: mattkime
Date: June 09, 2021 05:05PM
Quote
Robert M
How many times have you refinanced your mortgage ion the last year? You've really done it more than once? I refinanced last year and just that one task took nearly three months. Couldn't imagine doing it more than once every X number of years and that assumes doing so is worthwhile.

3 mortgages within a year or so (maybe 14 months? I dunno.)

You do most of the work up front, so the third time is about as easy as the first.

I locked in at 2.375% and brought in some money along the way.



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Re: today's robocalls - mortgage refinance feeler
Posted by: Robert M
Date: June 09, 2021 05:44PM
Matt,

Nice! How much did each refinance cost? Reasonable to assume you had the fees rolled into each new mortgage?

Robert
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Re: today's robocalls - mortgage refinance feeler
Posted by: NewtonMP2100
Date: June 09, 2021 06:06PM
.....won't this offend those......married to a robot [ and the three Laws ]......???



_____________________________________

I reject your reality and substitute my own!
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Re: today's robocalls - mortgage refinance feeler
Posted by: mattkime
Date: June 09, 2021 08:22PM
Quote
Robert M
Matt,

Nice! How much did each refinance cost? Reasonable to assume you had the fees rolled into each new mortgage?

Robert

as previously discussed - [forums.macresource.com]

I'd trade 1/8th percentage point for ~$2k in my pocket. When I ran the numbers it would often take 8 years or more to come out ahead.



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Re: today's robocalls - mortgage refinance feeler
Posted by: Robert M
Date: June 10, 2021 06:30AM
Matt,

I faced a similar situation and once I factored in fees (being rolled into the mortgage), it didn't make sense to refinance until last year. 'course, I'm in a co-op which always has a higher interest rate than a house or even a condo. Not worth the agita and expense unless I was going to recoup the costs in a reasonable amount of time. Anything more than 3 or 4 years isn't reasonable. Even 4 or 4 years is too long to make it worthwhile. Annoying as heck.

Robert
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