About a month and a half ago
I did some refinancing with several of my Loans. I consolidated several different lines of credit and tidy things up quite a bit. Over time couple the credit cards I was working with a been purchased and consolidated by the same critic or company and so I had both will account for the same company and it was just annoying.
About two years ago I had attempted to put together a home-equity loan to consolidate several of these things and I was working at the time through Intuit. The makers of Quicken had gone into the mortgage business apparently and they were offering what looked like a pretty good deal. Unfortunately when I got halfway into the loan process I realize that they were trying to pump me into a higher interest rate after promising me an extremely low interest rate. I ended up bailing on the deal. It cost me a few hundred dollars and it cost them a few hundred dollars and I was extremely annoyed with the way that they treated me.
This time around I went with one of the bank severity do business with, and I essentially gave them more my business as I consolidated other items into their accounts. They got a good deal because I move some unsecured debt into some Personal secured loans, (example here but not the same company). I got a good deal because I got a great interest-rate and I don’t have to make as many payments each month to multiple accounts.
The experience with Intuit definitely Gave me a taste of the dark side of the mortgage industry. It was a scam pure and simple, but it was legal and there was nothing I could do about it. These days the authorities are on to that type of thing but there’s no legislation to protect people from these pump and dump or patent switch interest rates games. At the end of the day I’m in better shape now because I’ve tidied up my own Personal Loans.
I actively manage my finances on a regular basis, but I do find the need to reset things every two or three years and get a balanced out again. I do think it’s important to manage your finances otherwise your finances will manage you, you just have to watch out for the people that would take advantage of you while you’re in the middle of trying to do the right thing. Technology can help you choose better rates and other services, but at the end of the day you still need to utilize your own senses to determine if the person on the other end of the phone is trying to rip you off.