The Mortgage, the Noodles, and the Airline

by Stevie Ray

 

As first published in the Business Journal Newspapers

 

“I am so sorry. We have been experiencing an extremely high volume of business.” Those were the first words I heard from a mortgage company I am using to refinance properties that I own. I had contacted them in early October, seeking to take advantage of dropping interest rates. It was now December, with no closing in sight. This meant I would pay another month of the original mortgage, costing me a lot of money. I sent an email to my broker, detailing how much capital their mistake had cost me. He kicked the matter up to his boss, who assigned someone else to resolve the issue. This person apologized, offered an excuse for the delay, and promised to finish the refinance quickly. After another missed deadline, I contacted my original broker again. This time I said that, since their company caused the delay, they should discount their fee to accommodate for my loss. He agreed. I am still waiting for a closing date.

 

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