Let me tell you a funny T-Mobile story.
There was this guy who never wanted to spend money keeping up with the most trendy iPhone.
Understandable! He saves a lot of money which can’t be a bad thing.
Then, T-Mobile offered a huge promotion that he couldn’t ignore. If he switched over to the carrier, not only would he pay less per month for a much better data plan, but he would also get a brand new iPhone 14 if he traded in his old beat-up iPhone 10. The catch is simple, stick with the carrier for 24 months and only pay the data subscription every month, no upfront cost.
Sweet deal!
Yet, he still hesitated. So, this guy paid a visit to a local T-Mobile store.
The sales rep wasn’t an amateur. He got sold once they offered him a $200 gift card that he could use to buy anything. When the gift card came back a month later, however, he couldn’t use it on anything but T-Mobile merchandise only.
Frustrated, he came back to the store.
To his surprise, the store owner informed him that the sales rep he talked to had been fired and there was nothing they could do about his complaint.
Now, he stuck with his 24 months lock-in not only with the iPhone, but the subscription plan as well. He became even more skeptical of salesman and sales companies in any form since then.
At this point…
You might have guessed it.
Yes, that guy was me. And no, it sure doesn’t feel good.
But here’s the crazy part. I have seen the same thing happen in foreclosure more than it should be.
To be more specific, the rep from the bank verbally told the owners that they would postpone the auction without any confirmation in writing and then proceed to carry out the auction on the originally scheduled date.
Worse yet, I have personally talked to an owner who has proof of emails sent from the lender rep. Yet, the lender company, when confronted, informed us that the rep was fired.
Surprised?…
Should we give the benefit of the doubt that these reps make some honest mistakes more often than not? Yes, that would be fair.
However, there is this theory of “scapegoat” strategy used by the banks that one of my banker friends told me once. And it keeps bothering me from time to time.
Some people even called me being dramatic.
But would you take that chance?
After reading this, would you still believe the lender would play fair and square under the legal umbrella when they try to take the property back?
After all, 2008 happened because they didn’t.
if anything, it only emphasizes the old saying “Get it in writing”.
But if you find yourself having a hard time communicating with the lender or figuring out the gazillion paperwork and emails filled with big words, don’t hesitate to reach out to us experts at FCRelief. We will take care of the stress.