When we went to the bank this afternoon to get a loan, the only thing I imagined not working out was that we wouldn't get the entire amount of money we were hoping to borrow. I did not expect to be completely shut down.
It was about 3 minutes into our meeting with the loan officer that I knew we were getting diddly squat because he started feeding us some prepared lines. He blamed the market, and regulation, and people who defaulted on their loans - he basically blamed everything and everyone except banks themselves for our being denied. Banks can do whatever they want! I had to tune out because I could feel my anger rising.
To our credit, our credit is in fine form. What we lack is EQUITY. Our house? It's just not worth enough. So, as I'm understanding it, only well-to-do folks can get loans. Please enlighten me - how is that fucking fair? How are we to improve our station in life when we're not even offered the same benefits and opportunities that our parents were extended? Improving the next generation's quality of life is a fucking myth. Might as well take your chances with the lottery, right?
This is so heartbreaking. I'm gutted. And angry. We've worked so hard, but we just don't stand a chance. ATM + I always consider ourselves extremely fortunate, but we're not hi-falutin' folk.
Maybe it was unwise to start disassembling the kitchen, but, really, it couldn't be avoided. We had to fix the plumbing in the wall behind the counters. And we had to take down the cabinets above the stove to see if there was any damage to include in our loan estimate.
I'm out.
I'm out.
1 comment:
I don't know what to say or offer other than to be furious in solidarity.
And perhaps try again with another bank? It just seems that there has to be another route. Does NLR offer grants for improving homes? I know we have a program for it here in Fville.
This is 100% the banks' fault. And further proof that the gap is widening to such an extent that we must stop pretending we're not an oligarchy.
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