Million Dollar Mortgage
He thought the fees were excessive. He called his bank to ask what was happening, but the representative was either unable to explain or short with him. They refused any of the fees.
He decided, as a form of retaliation to the bank’s actions, to close all of his accounts. It meant paying the remainder of his multimillion-dollar mortgage in cash. I was shocked to learn that he had enough money in his account to pay his entire mortgage but chose to get a mortgage instead of paying cash.
The mortgage department of the bank was horrified by the loss in interest income and begged him to refinance. He refused.
