I've owned my house in Castro Valley for seven years (next month) and I just took advantage of the great interest rates and the new conforming loan limits to lock in a 30 year 5.5% mortgage, paying off my previous two mortgages (a $300k 30 year and a $70k 15 year balloon payment). This is the third refinance in six years and the first to lock in above what I paid for the place (paid $370k, financed $409k, value $600-700k depending on who you ask, although Indymac Bank thinks it's only worth $515k... go figure!).
So, I'm happy with my new mortgage. I am not happy with the stream of insurance spam I've received in the last week. Several offers every single day (six today, OMG!). Mortgage protection, health insurance, home insurance. Jeez, leave me alone! I have all that shit already!
I know that a mortgage is a matter of public record but this is ridiculous! The worst thing about these slimy insurance and loan spam offers is that they are all - and I mean ALL - couched in terms of something you should complete and return for your lender. Sure, they all have small print saying they're not associated with the lender but with some of them you really have to read it two or three times to convince yourself you're not reading something important from your own lender.
It's disgusting. Especially given the sub-prime lending disaster we're going through right now. Clearly these companies have no ethics at all.
When I refinanced my apartment in DC my junkmail practically doubled. What a freaking waste of paper... I'm sorry Capital One but if I don't answer the first 10 offers do you really think that sending me an offer a month will change my mind?
