As a sign of the changing times, some 60% of borrowers do not even bother to contact their banks to attempt a renegotiation of their loan, Mr Moran explains.
How much of that is because borrowers don't want to navigate hellish phone trees and wait on hold to be told that they signed the mortgage note?Gone are the days when you could go down to the local bank and talk to the loan officer face to face. There's no personality there, and thus no reason to continue paying the loan because that's what you agreed to do. |
