Jeez, talk about trying to pull a fast one on somebody!

And I think it’s safe to say that if a company tries to mess with someone’s mortgage rate for no good reason, there’s gonna be a problem.

Just ask the guy who wrote this story.

He explained why he wasn’t playing around when someone tried to screw with him and his hard-earned money.

Take a look at what he had to say about this situation.

Rolling The Dice on a Mortgage.

“A few years back my company transferred me from Texas to New Jersey. My wife and I found a house we liked and signed a contract on it.

At the time mortgage rates were sky high (13%) and the builder was offering a subsidized mortgage at 10.5%. It was a new house and was in the process of being built, and we applied for the mortgage through his bank.

About 2-3 weeks before closing, the builder’s agent calls me and says they were no longer dealing with the original bank and I would need to reapply for a mortgage with a different bank at 12.5% interest.

Huh?

I dug out my contract, and although we had been promised a 10.5% rate, it was not written into the contract. So I was pretty much stuck. Or was I?

It was time to do some deep digging…

The contract, as most real estate contracts are, was contingent on us qualifying for a mortgage. So I called the agent back and advised him that we would do as he requested, except unfortunately we were not likely to qualify for the new mortgage.

He chuckled and asked why not, the original bank said we were well qualified. I told him that was true – based on the info they had. But in the interim, my wife has opted not to work, so any income from her is no longer available.

Sorry!

And we also decided to spend a large part of our down payment on a European vacation. So without the second income and most of the down payment, new bank’s not gonna like us so much.

As it stood, the builder would now be stuck with a fully built house which included all the “extras” we had personally picked out.

Obviously he could try and resell the house, but who knows how long it would take to find a buyer who wanted this specific house, when they could buy a new one and pick out extras and fixtures to their own taste.

Bam!

Anyway the builder must have felt the same way, as within an hour we suddenly were told we could continue on with the original bank at the 10.5% interest rate.”

Let’s see what readers had to say about this.

This person had a lot to say.

Another individual weighed in.

This person spoke up.

If you enjoyed this story, check out this post about a client who regretted paying for a cross-country flight after the IT specialist just flipped a breaker.

And this Reddit user shared their thoughts.

Good for him for not backing down!

These folks were definitely a big shady…

If you mess with the bull, you’re gonna get the horns!

He played hardball and it paid off!