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I just got a bill from my mortgage company.

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trof Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-17-08 06:06 PM
Original message
I just got a bill from my mortgage company.
Wells Fargo.

I thought they were a stagecoach line.

Anyway, we just got another bill from them.
We got one last month and we paid it.
Now we just got another one.
"Didn't we pay this last month?"
"Yes."
"Well, we just got another bill."
"We get one every month."
"Damn, that doesn't seem fair."
:silly:

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Bunny Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-17-08 06:08 PM
Response to Original message
1. They're holding the note on my car.
It's a wonder they didn't make me finance a stagecoach instead! :hi:
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TZ Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-17-08 06:16 PM
Response to Original message
2. They have my mortgage as well
I think they are company number three who has held my mortgage since I bought in 2000..I pay on time every month..Guess that's not profitable since I keep getting passed around....:crazy:
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trof Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-17-08 06:28 PM
Response to Reply #2
3. In NH in the late 80s it changed monthly.
The story of the modern NH bank began in the "boom and bust" cycle of the 1980s and early 1990s. Throughout the 1980s, real estate was the engine that fired bank profits red hot. Construction inventory was abundant; lending was often speculative; and in the pursuit of profits, some decisions were conceived imprudently. Nevertheless, profits had no borders; they kept going and growing and supported 93 banks, the state's largest number ever.

In 1989, however, the runaway economy slammed on its brakes, and the real estate market derailed. Within the next three years, the average price of Granite State homes plummeted from $140,000 to $110,000 and large numbers of commercial construction projects went to auction at or below cost; loan defaults and bankruptcies were widespread; the gross state product grew negatively; and then the banks failed...

On October 10, 1991, seven NH banks (Amoskeag Bank, Dartmouth Bank, Bankeast, Numerica Savings Bank, Nashua Trust Company, New Hampshire Savings Bank, and Bank Meridian) representing 25 percent of total assets failed.

By 1994, 16 banks (12.6 percent) holding assets of $3,320,916 (31.98 percent of the total) had failed. It is by this catastrophic period that we still measure subsequent bank vitality.

http://findarticles.com/p/articles/mi_qa5343/is_200102/ai_n21468210

Our mortgage got passed around so many times it was hard to keep up with who we wrote the monthly check to.
Sound familiar to what's going on now?
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