Yup. I have a contractor friend with a sterling reputation. He's booked up for the next year and a half.
Home Improvement
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ToeMissile
Pronouns: zie/zhem/zer
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Yes it’s normal, but I don’t recall much about the details. I do remember someone posting about it a bit, maybe in the home buying thread?
Dandai
<WoW Guild Officer>
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I’ve had a mortgage transferred to a different company at least 3 times in the past 7ish years. The only pain it’s caused me was when the property tax escrow algorithm tripled the escrow expectation because the transfer happened with 2 months left in the year (so it increased my escrow by like $500/mth because it thought I’d owe a whole year of tax every 2 months).
I guess I also had to set up the auto debit from checking accounts, but overall, not a big deal and didn’t really notice.
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Cutlery
Kill All the White People
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Burren
Ahn'Qiraj Raider
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Most banks/Credit unions don't hold their mortgage portfolios. They are bought in bulk by Freddy/Fanny or some of the other biggies.
Daidraco
Golden Baronet of the Realm
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For you personally - just a change in payment. Verify your monthly payment, the term, and the total loan balance etc. But generally, the contract is the same, just underlined and there "shouldnt" be any hiccups. You can actually sign a contract on a car thinking you're going to Truist, but if the Finance Manager finds a better deal through Bank of America - he can send your shit there instead (as long as its within the legal interest margin). Happens all the time to shitty clientele.
From my understanding and limited experience in the financial field - these banks generally do it to get rid of shitty credit customers by slicing off a portion of their good customers and bundling them altogether for a sell off. Then they have records (outside of a credit report) of the dead beats and can decide to reissue them loans at higher rates, or not at all in the future. Usually happens when they renew their algorithm or redesign the entire funding process.
The other half of this is when the feds raise the interest rate too high, too quickly (like now). So you have banks that use their own money getting rid of all these 2 and 3% mortgages to whoever will buy them so that they can get the liquid money back and loan it back out at whatever the higher rate is when a new client signs. Naturally, this contains far more good credit people than bad credit. So after a sell-off, this tier of portfolio went from a bunch of clients at 3% on average, to a portfolio with the same type of clientele now bringing in a 7% average (for example).
REGARDLESS - the Banks, especially the big chonga's like BOA etc., make a fucking killing off of the idiots that think they need a new shiny "something" during a high inflation period. Your smaller banks can do this, but with their smaller customer base, the likelihood they borrowed money from the fed etc. - it usually doesnt come out in their favor. But this isnt the thread for that type of conversation.
Daidraco
Golden Baronet of the Realm
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Fucker
Log Wizard
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Dandai
<WoW Guild Officer>
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I’m really surprised the harbor freight vise performed so well. Guess I’ll be adding that to the Christmas list!
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I finally found out locally that doesn't suck, but I ended up making it mutually beneficial for him by repairing laptops and other IT shit that he needs done.
I think a lot of people also think they can just throw the idea of money at handymen and get them to show up. Not that easy.
I did - until I realized that these dudes are running more jobs than they can shake a stick at with crews who just disappear into the night. One of his guys had a heart valve at 11% and ended up in the hospital during our recent job. The main guy gets shit done and just throws new bodies that want to get paid at the jobs.
Learning really quickly that you need to give them a small bit to show that you can actually finance the entire job, and work out all costs beforehand, and then provide proof that you can actually pay them before they'll do shit.
The one guy I'm paying now has a working relationship with me, I promoted his shit on the local FB area because he isn't always tech savvy enough to do it, and now he has reliable customers who are asking for small things like leaf removal from gutters and he can actually charge them reasonable prices but more than he'd get from people who just say "yeah, sure, i'll pay you."
I just recently had my shed redone. He was upfront with the cost of lumber & other shit he needed, then charged me labor.
Contractors are some of the toughest motherfuckers to get on a job. They're also some of the toughest motherfuckers out there. Don't put all your eggs in one basket until you find the right one.
Daidraco
Golden Baronet of the Realm
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What are we suppose to gather from these photos you have shared with us? Also, is this a small room attached to a single wide trailer?...
Double wide. It's an attached shed we're turning into living space.
I was replying to others who had used contractors in this thread.
They're mostly understaffed. Or lazy.
Gather what you want from it.