Bruce and Catherine had bought their home in the spring of 2004 and their mortgage was about to mature in 2007. They received a renewal offer from their present mortgage Lender approximately 3 weeks before the renewal date. Bruce told Catherine that he would look after the renewal.
Bruce forgot to send the renewal notice in. Catherine, rather upset, told Bruce that she would deal with it. Catherine told a friend about Bruce’s negligence and the friend asked her what the rates were that they had been offered. When Catherine told her, her friend was surprised and suggested that she call Domus Financial, who had provided financing for her brother, who had “really shopped around” until he found the lowest rate.
Catherine called Domus Financial and was shocked when she was offered a rate that was 1.35% lower than the renewal offer from their present mortgage lender.
We assured Catherine that she did not need to be concerned about the “rush” nature of her request. Domus Financial “switched” Bruce’s and Catherine’s mortgage loan within 72 hours of being contacted. Bruce and Catherine did not incur any expenses and the whole process was painless.
I guess Bruce’s absentmindedness was a good thing. I couldn’t believe how much money we were going to save! Bruce is out of the doghouse and I have a new diamond ring.
– Catherine T.