|
skipdogg posted:I'll add this to my list of reasons why I don't do business with Bank of America. I refuse to do business with Wells Fargo as well. Chase hasn't done me wrong, but I only have one of their credit cards. I dunno, my experiences with BOFA/WF have been ok. My refi went through pretty ok. If you are avoiding WF and BoA you're also avoiding two companies that have some of the lowest rates, esp for jumbo loans. YMMV.
|
#
?
Oct 19, 2021 23:00
|
|
|
|
| # ? Jun 5, 2024 00:13 |
|
|
GoGoGadgetChris posted:Anecdotally I will also offer that a good friend just had a deal die & moved all of her accounts away from BofA after banking with them for 20 years. They hosed up harder than anyone has ever hosed up, and they're hounding her daily with emails and calls that they need her to give them a Perfect 10 on the satisfaction survey. "Anything less than Perfect is a failure" My experience with BofA was a nightmare, but it saved me so much on rate (almost a quarter % ) it was kinda worth it?
|
|
#
?
Oct 19, 2021 23:26
|
|
|
I used to work for BofA years back (Vox Nihili please don't launch me into the sun  ) on the tech side and wanted to take advantage of the employee discount rate for a mortgage for the house we were buying in Charlotte (new build through a builder).I had a similar experience to many in this thread, which is to say that it was complete rear end. The loan officer I dealt with wound up no longer working there after she poo poo the bed so hard that my loan expired and we had to start over. After we got a new loan officer, communication was better but the loan was still stuck in the glacial morass of the bank. They failed to account for the fact that I worked there and could see who reported to who all the way up the chain to the CEO. As an aside for those of you playing along at home, the VP and SVP titles at BofA (and most legacy banks) are considered banking titles and are thus extremely honorific and don't hold a lot of weight because they're separate from corporate title (your actual job) and band (your pay range). I was an SVP when I worked there but had the corporate title of senior manager, which is accurate as I had a team of 15 and owned the delivery of a business function. SVP generally means some basic level of leadership/management and is not an actual SVP officer like you would see at a normal company, same with VPs (first line managers and individual contributors) and AVPs (lower level individual contributors). Anywho, I started firing off e-mails every 30 minutes to successively higher levels of leadership within the mortgage business until the admin of a senior executive reached out and said that a "relationship manager" had been assigned and I would hear from him soon. Relationship managers are generally reserved for high net worth folks which I am most assuredly not. Only at that point did the basics that every customer should expect start to actually happen and work correctly. Nearly all mortgage companies are poo poo, and the big banks add enough complexity to regularly deepen the poo poo.
|
|
#
?
Oct 19, 2021 23:39
|
|
|
GoGoGadgetChris posted:Anecdotally I will also offer that a good friend just had a deal die & moved all of her accounts away from BofA after banking with them for 20 years. They hosed up harder than anyone has ever hosed up, and they're hounding her daily with emails and calls that they need her to give them a Perfect 10 on the satisfaction survey. "Anything less than Perfect is a failure" lmao I gave BMW service a low rating once after they failed to diagnose the problem after several times, sending me on my way each time. I got a regional director blowing up my phone immediately. I guess several folks missed their bonus that quarter because of it. They found the problem pretty quickly afterwards though.
|
|
#
?
Oct 19, 2021 23:56
|
|
|
Alarbus posted:lmao I gave BMW service a low rating once after they failed to diagnose the problem after several times, sending me on my way each time. I got a regional director blowing up my phone immediately. I guess several folks missed their bonus that quarter because of it. It’s insane that you need to basically passive aggressively be a rear end in a top hat to a low level employee in a survey to get any semblance of competence at a service level job.
|
|
#
?
Oct 20, 2021 00:03
|
|
|
Title Company hosed up somehow, recording was rejected. They are resubmitting. It sounds like they don't understand why the recording was rejected themselves and consider it to basically be a lottery. Another delay of at least a day. Movers are scheduled for Sunday.
|
|
#
?
Oct 20, 2021 00:48
|
|
|
Vox Nihili posted:Title Company hosed up somehow, recording was rejected. They are resubmitting. I managed to get in touch with a manager of some sort and it sounds like they have it under control for recording tomorrow morning. Good lord.
|
|
#
?
Oct 20, 2021 01:32
|
|
|
SlapActionJackson posted:The realtor I'm working with specifically warned about BofA torpedoing deals through incompetence. *Literally everyone involved in the transaction, including the receptionist for the shared office space that the real estate attorney uses.
|
|
#
?
Oct 20, 2021 01:40
|
|
|
QuarkJets posted:
Gotcha, I already have a budget and retirement plan in place that always comes first before anything else. At this point, I'm solely focused on saving money with an added bonus of having some temporary home base to crash and put all my stuff. DaveSauce posted:Saves $50k.... compared to what? Rent over 30 years? Rent over 10 years? The napkin math over a decade for a $200k place was about $50k but that's a good point about other items but the kicker is I literally do want an apartment because I want to be in the the city. Not to mention, I don't want be responsible for a lawn, snow removal or anything of that nature because I've got much better things. I'm pretty busy this week but later this weekend I'll go through two examples(?) based off of this calculator - Rent versus Buy Calculator which seems decent enough for a ballpark estimate.
|
|
#
?
Oct 20, 2021 02:09
|
|
|
Dik Hz posted:List of people that can torpedo a deal through incompetence: Sure, anyone can. But he's seen BofA actually do it enough to actively discourage deals with them handling the financing.
|
|
#
?
Oct 20, 2021 02:20
|
|
|
Oh wow, we're still doing the rent vs buy argument, even in the era of full thread search  Thanks for linking to the rent vs buy calculator, I've literally never heard of that before
|
|
#
?
Oct 20, 2021 02:31
|
|
|
Hadlock posted:Oh wow, we're still doing the rent vs buy argument, even in the era of full thread search Are you OK? I don't think that this level of snark is deserved Crosby, online calculators are a fine starting point, just be careful about not accepting default values on faith. Things like insurance vary a lot, and appreciation can sometimes be a crap shoot, especially for condos. The fact that you travel so much is the only big red flag that I see; homes are deteriorating assets that need frequent work to maintain. It will probably be fine, though
|
|
#
?
Oct 20, 2021 04:04
|
|
|
Hadlock posted:Oh wow, we're still doing the rent vs buy argument, even in the era of full thread search In fairness, the OP of this thread dates to the immediate aftermath of the financial crisis in 2009.
|
|
#
?
Oct 20, 2021 04:41
|
|
|
Hadlock posted:Oh wow, we're still doing the rent vs buy argument, even in the era of full thread search Rent vs buy isn't strictly about "which is better financially," because you can nearly always find scenarios where one works out better than the other. It's about making sure a person knows all the costs that go in to home ownership so they can make an informed decision and set their budget and expectations accordingly. Given how complex the calculation is (due to the sheer number of variables), this will always be a conversation that needs to be had. Again, many people wander in to this thread assuming "rent = mortgage," and even those who know there's more to it don't always consider all the variables. Crosby B. Alfred posted:Gotcha, I already have a budget and retirement plan in place that always comes first before anything else. At this point, I'm solely focused on saving money with an added bonus of having some temporary home base to crash and put all my stuff. I mean $50k is a lot over 10 years, but again you need to do the math to make sure. If you're gung ho about being in a city and having all those other things taken care of, then a condo is likely right for you. Just be aware that HOA fees will be super high, and you'll still be responsible for things that happen inside your walls (and for anything outside your walls that the HOA doesn't have enough cash for).
|
|
#
?
Oct 20, 2021 12:32
|
|
|
Crosby B. Alfred posted:I'm pretty busy this week but later this weekend I'll go through two examples(?) based off of this calculator - Rent versus Buy Calculator which seems decent enough for a ballpark estimate. For a fun exercise, compare the total cost in 2021 dollars of a 30-year mortgage to the total cost of a 15-year mortgage at current rates. The delta between the two almost completely disappears. There are valid reasons for doing either, but the difference in total payments isn't nearly as impactful as it first appears. Dik Hz fucked around with this message at 15:50 on Oct 20, 2021 |
|
#
?
Oct 20, 2021 15:47
|
|
|
Dik Hz posted:I've never seen one of these calculators correct for inflation. i.e. $1 today is worth ~$2.50? in 2051 dollars. Or in other words, the last payment on a 30-year mortgage gets a 60% discount. The NYT calculator has a slider for inflation: https://www.nytimes.com/interactive/2014/upshot/buy-rent-calculator.html However I'm not entirely sure how that goes in to their final analysis. All else equal, when you increase the inflation slider it makes renting more attractive. Can't be bothered to ponder why that is right now, but I'm sure there's a reason. edit: so that doesn't make sense on the surface. Higher inflation should mean that a fixed rate mortgage gets cheaper faster relative to rising rent. Probably something to do with rent increases being either pre- or post-inflation in their math. DaveSauce fucked around with this message at 17:09 on Oct 20, 2021 |
|
#
?
Oct 20, 2021 16:52
|
|
|
Husband and I still have Redfin on our phones until we close on the house, so we're still Pavlov's-dog clicking on things that pop up. This fun one just did: https://www.redfin.com/WA/Seattle/6412-Linden-Ave-N-98103/home/176675233 Apparently a real estate broker bought this place last year: https://www.redfin.com/WA/Seattle/6411-Woodland-Pl-N-98103/home/298932 and parceled off the backyard? and shoved a new small house in it. The listing for the new place shows an aerial view of how it was shoved in the lot.
|
|
#
?
Oct 20, 2021 18:22
|
|
|
Living in Texas that just blows my mind. 700K to live in someones backyard. I paid half that for 3400 sq ft 6bd/3bath new construction. I do appreciate the new laws allowing more dense housing and doing things like this though, Not sure how to tackle the housing issues in those places.
|
|
#
?
Oct 20, 2021 18:34
|
|
|
I'm impressed that that got permitted in the first place. Even more impressive is that it got subdivided, permitted, and built in that time frame. They must have pulled some strings to shove that through...
|
|
#
?
Oct 20, 2021 18:35
|
|
|
DaveSauce posted:I'm impressed that that got permitted in the first place.
|
|
#
?
Oct 20, 2021 18:56
|
|
|
Dik Hz posted:It's funnier to imagine that it's not permitted, and that's why it got built so fast. I took a look at the city of Seattle's permit search and sadly (for comedy) it was permitted, but all under the address and parcel of the original address. ----- On a separate note, we just got our loan appraisal back and it came in $2500 over  maybe now I can sleep...
|
|
#
?
Oct 20, 2021 19:06
|
|
|
Involuntary Sparkle posted:I took a look at the city of Seattle's permit search and sadly (for comedy) it was permitted, but all under the address and parcel of the original address.
|
|
#
?
Oct 20, 2021 19:13
|
|
|
We bought a house in Colorado about a month and a half ago and moved in about 20 days ago. IT'S THE loving BEST, WE LOVE IT. I can't say how much, how awesome it is to own instead of rent. We had the best landlord I've ever had for the last 12 years and I still prefer owning. That said... if you're going to buy and then have literally no money left, don't do it. We did a bunch of budgeting for various things and it seems we used most of it by now. The worst part by far of the whole process, was packing. We got 4 containers from u-pack 'you will need 3, but get 4 to be safe' they said, and we needed 5, so we had to ditch our entertainment center and some other things. The movers themselves sucked and had a poo poo attitude, broke our fiber internet connection, refused to help us with anything other than lifting the heavy things and putting them in the pods, left early, one of them didn't do anything because 'he got the vaccine yesterday' (but they still charged us for him), etc etc. The movers after the pods were delivered, were great. As soon as we started driving all of our worries went away, basically. I drove with 6 cats and a friend, my wife drove with the kids and another friend. (San Jose to Denver) The cat drugs the vet gave us, worked GREAT. We stayed in a motel 6 just over the Nevada border in Utah: "do you have any pets?" "just a couple of cats", and no extra charge for the cats or anything. I left $20 for the cleaning staff even though the cats didn't leave much of a mess at all (we had litter mats, litterboxes, we cleaned up afterwards ourselves with the robot vacuum I had in the car) and we got to Denver the next day. The house is loving massive (over 4000 sq feet, about 3500 finished) and we have basically an 'unused wing' of the house that we don't really go into, the basement. There's heating and cooling so it's never too hot or too cold like it was in the rental, all the time. There's space for the kids and the cats, and for us to not have to spend every waking hour in the same room together driving us crazy. I replaced a toilet seat with a bidet (impossible in the rental, the copper pipes were caked over with verdegris and a plumber had said once 'I am afraid to touch those, they might break'. We have solar power so we don't feel too bad running AC and heating in the same day as long as the solar is getting sunlight (they showed us an electricity bill from last summer and it was $40, with the solar). I'm getting a plumber over to install a water filter and humidifier. There are outlets loving EVERYWHERE. We loving love it. And all for the price of 0.6 of a 2 bedroom one bathroom 1400 square foot house in California.
|
|
#
?
Oct 20, 2021 19:28
|
|
|
Speaking of Seattle, is anyone familiar with the permitting/approval process for residential construction in King County? We're looking at buying land out around Duvall or Fall City in the next couple of years to build a home, and I'm having a hard time finding any good explanation of what's required to take a virgin piece of land and get it (legally) ready to build a house.
|
|
#
?
Oct 20, 2021 19:42
|
|
|
redreader posted:We bought a house in Colorado about a month and a half ago and moved in about 20 days ago. IT'S THE loving BEST, WE LOVE IT. I can't say how much, how awesome it is to own instead of rent. We had the best landlord I've ever had for the last 12 years and I still prefer owning. That said... if you're going to buy and then have literally no money left, don't do it. We did a bunch of budgeting for various things and it seems we used most of it by now. The worst part by far of the whole process, was packing. We got 4 containers from u-pack 'you will need 3, but get 4 to be safe' they said, and we needed 5, so we had to ditch our entertainment center and some other things. The movers themselves sucked and had a poo poo attitude, broke our fiber internet connection, refused to help us with anything other than lifting the heavy things and putting them in the pods, left early, one of them didn't do anything because 'he got the vaccine yesterday' (but they still charged us for him), etc etc. The movers after the pods were delivered, were great. I'm seriously chuckling over this post. Glad you're happy
|
|
#
?
Oct 20, 2021 20:15
|
|
|
Dik Hz posted:It's funnier to imagine that it's not permitted, and that's why it got built so fast. The funniest part would be if the broker didn't get the property lines surveyed and recorded exactly right, given the way they appear to zero right up to the other house. Imagine what would happen if they accidentally sold off a foot or two in.
|
|
#
?
Oct 20, 2021 20:18
|
|
|
 I want to know how they got lot lines to basically run right up against the existing house, or at least so the listing claims. Like, does the original owner have an easement to wash their windows?
|
|
#
?
Oct 20, 2021 20:36
|
|
|
B-Nasty posted:
Zero-lot-line homes are A Thing, but usually for an entire neighborhood. My old neighborhood was like this, and yes, you'd need to go into your neighbor's yard to do things like paint your house. Whole neighborhood had a "24 hour minimum notice" policy enforced by the HOA. The latter never stopped satellite installers for the neighbors from hopping my fence with no notice (rental property so this was a thing that happened pretty much every few years).
|
|
#
?
Oct 20, 2021 21:57
|
|
|
DaveSauce posted:edit: so that doesn't make sense on the surface. Higher inflation should mean that a fixed rate mortgage gets cheaper faster relative to rising rent. Probably something to do with rent increases being either pre- or post-inflation in their math. Does it have a separate slider for rent increases? The ones I've seen usually have them separated because as we all know some costs do not increase at the same rate as inflation, so inflation would affect maintenance and repair costs, but wouldn't affect rent costs if there is a separate rent increase/yr slider that you're not touching.
|
|
#
?
Oct 20, 2021 22:02
|
|
|
In Seattle you can build a DADU (Detached Accessory Dwelling Unit, what that is) and then turn them into condos, which gets them separate parcels. This is better than apartments because they’re still almost $1mm meaning there won’t be poors in your neighborhood.
|
|
#
?
Oct 20, 2021 22:56
|
|
|
tumblr hype man posted:This is better than apartments because they’re still almost $1mm meaning there won’t be poors in your neighborhood. For many, many people, that has always been the goal.
|
|
#
?
Oct 21, 2021 15:00
|
|
|
Skipdogg: What do you think of the house? Looks awesome right? Nicely done inside, outdoor space, 3 car garage, etc. That price though  .
|
|
#
?
Oct 22, 2021 02:45
|
|
|
Lol you crack me up. Which one? I haven’t seen anything lately that screams RE. I really liked that one you missed out on, on vine close to all those shops and restaurants on Gaylord . I imagine y’all being happiest within a few blocks of there. Nice Saturday stroll for a coffee and pastry or something lol. Race street is a huge house man if that’s the one you’re talking about.
|
|
#
?
Oct 22, 2021 03:51
|
|
|
skipdogg posted:Lol you crack me up. Which one? I haven’t seen anything lately that screams RE. I really liked that one you missed out on, on vine close to all those shops and restaurants on Gaylord . I imagine y’all being happiest within a few blocks of there. Nice Saturday stroll for a coffee and pastry or something lol. Nah, that race house (at least the mountain-y looking one) isn't really our style. It's really a bummer that half the builders/contractors in Denver seem to want to remind everyone that "Hey, you know Denver is close to the mountains!" I was talking about the one a few blocks over on Gilpin.
|
|
#
?
Oct 22, 2021 13:47
|
|
|
skipdogg posted:Lol you crack me up. Which one? I haven’t seen anything lately that screams RE. I really liked that one you missed out on, on vine close to all those shops and restaurants on Gaylord . I imagine y’all being happiest within a few blocks of there. Nice Saturday stroll for a coffee and pastry or something lol. This reads like you think resident evil would be happiest by ensuring they are always close to a Gaylord street.
|
|
#
?
Oct 22, 2021 13:55
|
|
|
Residency Evil posted:Nah, that race house (at least the mountain-y looking one) isn't really our style. It's really a bummer that half the builders/contractors in Denver seem to want to remind everyone that "Hey, you know Denver is close to the mountains!" I was talking about the one a few blocks over on Gilpin. Oh that house is nice as hell, but I thought it was waaaay outside your budget. It's nice, but I don't know if it's $pricetag nice. I'm guessing prices get higher the closer to the park you are. It does seem to check all your boxes though.
|
|
#
?
Oct 22, 2021 15:42
|
|
|
skipdogg posted:Oh that house is nice as hell, but I thought it was waaaay outside your budget. It's nice, but I don't know if it's $pricetag nice. I'm guessing prices get higher the closer to the park you are. It does seem to check all your boxes though. Yeah I don't even know anymore. Seems like a bunch of stuff is sitting/getting price cuts/etc, and then all of a sudden poo poo like this happens: https://www.redfin.com/CO/Denver/390-S-Race-St-80209/home/34125731 350k over asking for a (nice) house with a terrible layout  .
Residency Evil fucked around with this message at 16:14 on Oct 22, 2021 |
|
#
?
Oct 22, 2021 16:12
|
|
|
You guys 100% set on Wash Park, or willing to go a little more north or east?
|
|
#
?
Oct 22, 2021 18:32
|
|
|
skipdogg posted:You guys 100% set on Wash Park, or willing to go a little more north or east? Mostly set on Wash Park and Country Club. We really like the neighborly feel/walkability of our old house. Both of those neighborhoods also happen to be ideally located for our jobs so  .
|
|
#
?
Oct 22, 2021 18:52
|
|
|
|
| # ? Jun 5, 2024 00:13 |
|
|
Back to the search for me, too, unfortunately. I loved the house, but it had aluminum wiring & needed roof repair, and Open Door was not willing either to do the necessary outlet replacements / roof fixes or to offer more than $2500 off the asking price. Fortunately I kept looking at Zillow while we were waiting to hear back, and so I had a list of houses ready to send to the realtor to ask if they're still available.
|
|
#
?
Oct 22, 2021 22:14
|
|
