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It's tough to close your accounts if your account is a mortgage. Mortgage account closing requires either lots of money or refinance, and a refinance depends
by mancerayder 8y ago
It's tough to close your accounts if your account is a mortgage. Mortgage account closing requires either lots of money or refinance, and a refinance depends on interest rates of the present day being lower than when you took the original. Finally, it costs thousands to refinance. Add to that, WF gives an interest rate discount for opening a checking account and setting up direct crediting of the mortgage monthly premium.
- ardy42 8y agoAlso, you have very little control over who services your mortgage. I got my mortgage through a regional bank, but then it was sold almost immediately to Chase, who at a minimum collects servicing fees from it.