“I walked into bank to settle the mortgage. I wasn’t sure what I needed to do. The thing is, neither did they! The fellow I dealt with had opened hundreds of mortgages, but he hadn’t actually closed one. It took a couple of phone calls and the help of his supervisor to figure it out. But they had all the forms ready for a line of credit.”

“Our good friend Lynn from Vancouver flew to Montreal to visit family at Christmas. My wife and I dropped in to catch up. A little about Lynn: She’s just under fifty, and is a single mom with a 20-something son who has just moved out on his own. She has worked for the BC government for 15 plus years in a relatively low level job and will be finishing up a Psych degree in April. Full time job and 3 classes in the evening over several years- she’s no slouch.
Lynn has owned her modest condo in Surrey for 16 years. She casually mentioned that she had just finished paying off the mortgage, though the twinkle in her eyes betrayed her pride. After high fives all round, she told us about her visit to the bank after her last payment. “Well they wouldn’t let me pay the last $28 with my regular payment unless I payed an early repayment penalty! So, the next month after the $28 payment went through, I walked into bank to settle the mortgage. I wasn’t sure what I needed to do. The thing is, neither did they! The fellow I dealt with had opened hundreds of mortgages, but he hadn’t actually closed one.
It took a couple of phone calls and the help of his supervisor to figure it out.
But they had all the forms ready for a line of credit.”

- Berniebee at VREAA 30 Dec 2012 12:11pm

4 responses to ““I walked into bank to settle the mortgage. I wasn’t sure what I needed to do. The thing is, neither did they! The fellow I dealt with had opened hundreds of mortgages, but he hadn’t actually closed one. It took a couple of phone calls and the help of his supervisor to figure it out. But they had all the forms ready for a line of credit.”

  1. Carioca Canuck

    What a heretic………wanting to pay off her debt………..and “in full” no less.

    Such brazen nerve.

  2. Paper shredder would seem the obvious next step.

  3. I just sent this link to someone I know (who comments here occassionally under the name of ‘Loomis’). His reply:

    It’s like someone entering a rub and tug and just wanting a massage, you just never see that happening.

  4. I paid off my mortgage with a large lump sum payment. The banker whom I knew well was happy for me. Then she said “I have to ask this… “Are you sure that you want to pay off your mortgage? Interest rates are very attractive, perhaps you could use that money to invest?” I replied that I considered paying off the mortgage to be a reasonable investment. This was August of 2008. Glad I didn’t invest that money in the stock market in light of what was just starting to happen.

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