Originally Posted by
marge
I'm going to ignore that comment, t527ed. That is just junk and not worth a response.
dangling wrangler, have you ever been ripped off? Have you ever been lied to? In my business, I am given information about people that apply for loans and it is my responsibility to verify that this information is correct and these people qualify for a loan. Probably 85% of the information that I receive is either incorrect, exaggerated or, just plain fraudulant. Additionally, I am required BY LAW to make sure that the customer is properly told of all aspects of this loan that they have applied for...even if they have applied fraudulantly.
Due to this, and also due to my city upbringing, I am, by nature, a very cynical person. I have been ripped off more times than I can count because some "nice person" convinces me that ...this product...is needed for whatever reason and has somehow gotten around that cynicisim. That was the real intent of my original post...to find out if, once again, I was flim-flammed. I now see that I probably was not.
I am not saying that the ants are anyone's fault in particular. I AM saying that not informing the consumer that this is a possibility IS the fault of the contractor. I cannot assume that everyone understands everything that there is about a mortgage or small business loan....and, contractors cannot assume that everyone knows about the mechanics of an HVAC system. People need to be informed. THAT IS MY ENTIRE ISSUE. I was never informed completely. Plus, I have a lot of friends & aquaintences. None of them have ever heard of this, either (men & women). You guys are saying that I should know this. HOW? I am supposed to take an HVAC course before buying one? Who would think of this? Only someone who is familiar with these things.
Conversely, I recently underwrote a loan where the client paid cash for the new home that he has built. By law, I need to be able to see where these funds have come from. Simply saying, "his savings account" is not sufficient. The loan officer was all upset saying that this was unreasonable. I needed to explain that it was a violation of money-laundering laws. People (and, not necessarily this client) get money illegally and then, to "hide" it build or buy houses with it. We, the bank, will be held liable for contributing to the crime if we don't do reasonable due diligence to determine the source of these funds.
Now, put yourself in that client's spot. If all the loan officer said to you was that you had to prove where you got the money to build your house (and did not explain it), you would be raving mad. You built the house using bonus money...or, you had saved that money for years...whatever the case. You would probably call up the bank and holler at the underwriter (if you could figure out who it was).
What was the real issue? You were not informed. Nobody explained WHY. They just said this was what it was...and, by the way, it is going to cost you $$$$$$. Nobody that you know has ever heard of this. This seems to be an isolated incident concerning YOU. what would YOUR response be?
That's as easy as I know to make it. Anyone?