OMG! RAGING RANT HERE!!

[HennysMom]

Quote:
Ours did the opposite - ours decreased...however.. I just got a notification yesterday from our County Tax Assessment office that our house for the SECOND YEAR in a row has gone down another $8K in value!! I dont believe it for one second....we bought this house when the market was on a downward spiral....and now, its worth 16K less than what it was less than 1.5 years ago?

Yes, it means lower taxes - however - I'd love to refinance my rate - its a good rate, but the rates NOW are better..

how in the hell are we supposed to refinance if they keep lowering what the value of homes are worth?!!

I KNOW its not worth less - I've seen the houses for sale in this area....its the same as it has been! I just read in our local news paper that our area has grown 117% UP IN MONITARY GAINS both Commercially and Residentally from 1 year ago...so how in the WORLD can my home be 16K LESS and dropping?!

Time to call the Assessment office and have them back out here - again! Never mind all the work we've done...new roof, new windows..all the inside......since last year...and they KNOW THIS... grrrrrrrr...

ARgh -another rant....

 

[HennysMom]

Quote:
If I were you, I'd start bank shopping now

You'd better call and check.... bet ya the rates are goin up!

 

[allen wranch]

Last year Chase sent me a letter saying they were going to increase my interest rate, BUT I could refuse the increase if I wanted. I called the bank and asked if it was for real. Yes, it was. I told them I did not want an increase, and I didn't get one.

I throw away a lot of the literature I get from the bank, but I am glad I read that one. I read everything from the credit card companies now.

 

[MayberrySaint]

Quote:
If I were you, I'd start bank shopping now

I am going to go back and re-read my documentation...if I can find my magnifying glass...
Not sure if they can change it or not on these Life of Loan offers...if they do I will never do business with the entities again.

To raise rates when LIBOR (the inter-bank rate is almost 0%) is so low is absolutely outrageous. Thanks Congress and Bush for giving them more money to screw us with...should have let them go bankrupt and from the ashes, maybe more consumer-friendly banks would have evolved.

 

[texaschickmama]

They did the same thing to us. We use only one credit card. Have paid it off several times. Always pay more than is due, before it is due. We get a letter like tripling our rate. UNBELIEVABLE. In the past when they have tried this my DH would just call them and say listen I'm not going to do that and they would always change it back. This time, NO. We closed our account. They won't make another dime off of us. They are doing this because the law is fixin' to change about raising the interest rate while current on your account. IT IS ALL GREED, GREED THAT GOT US INTO THIS MESS.

 

[HennysMom]

There was no option to refuse the rate increase...the option was this:

if you refuse the rate increase - they close your account down at the previous rate increase...

its either accept the new terms..or close the account - period.

 

[cluckychick]

Quote:
Ours did the opposite - ours decreased...however.. I just got a notification yesterday from our County Tax Assessment office that our house for the SECOND YEAR in a row has gone down another $8K in value!! I dont believe it for one second....we bought this house when the market was on a downward spiral....and now, its worth 16K less than what it was less than 1.5 years ago?

Yes, it means lower taxes - however - I'd love to refinance my rate - its a good rate, but the rates NOW are better..

how in the hell are we supposed to refinance if they keep lowering what the value of homes are worth?!!

I KNOW its not worth less - I've seen the houses for sale in this area....its the same as it has been! I just read in our local news paper that our area has grown 117% UP IN MONITARY GAINS both Commercially and Residentally from 1 year ago...so how in the WORLD can my home be 16K LESS and dropping?!

Time to call the Assessment office and have them back out here - again! Never mind all the work we've done...new roof, new windows..all the inside......since last year...and they KNOW THIS... grrrrrrrr...

ARgh -another rant....

If your wanting to refi, just get an appraisal, the assessment office will follow suit with whatever value your appraiser/mortgage company uses and will modify their assessment.

Alot of assessment offices do not even have a cetified residential appraiser on staff. The just punch numbers into a program on their computers after driving by your house and wala....assessed value.

 

[HennysMom]

Quote:
If I were you, I'd start bank shopping now

I am going to go back and re-read my documentation...if I can find my magnifying glass...
Not sure if they can change it or not on these Life of Loan offers...if they do I will never do business with the entities again.

To raise rates when LIBOR (the inter-bank rate is almost 0%) is so low is absolutely outrageous. Thanks Congress and Bush for giving them more money to screw us with...should have let them go bankrupt and from the ashes, maybe more consumer-friendly banks would have evolved.

MayBerry..

Mine WAS the same... for the life of the card....

Citibank stated clearly to me they are changing EVERY CARD - unless you have an actual "loan" with signed terms (i.e, 24, 36, 60 mos - like a car note) you'd better call and find out what they're doing.

It was very clearly stated to me it was across the board for all credit cards they offered. Mine is a Platinum Silver....I just read my original terms from 2003 when I opened it (yep, I keep everything) and it stated it was fixed for the life of the card unless 1. Default was made or 2. Over the limit. Never once and nowhere does it state they could "change the rates for whatever reason they wanted"

Guess they can though...

 

[Chick_a_dee]

Your rate is only 7.9% ? ... or was...?

Mine has always been from day one 18.5%

Geez...

 

[sundance]

I closed all our credit cards about 5 years ago, some we had had for over 20 years, but I decided then that since I had to live on SSA the bank wasn't getting any of it, now I use my debit card and check my on line bank everyday.at our house, it's if we don't have the money to pay cash, put some in a jar until I do. Hard, yes, but I do survive, and I can honestly say, I do not want anything I do not already have, (except a vacation in Israel) marrie