Thanks for the econ lesson CITYRENTER. Good thing you aren’t an economist becasue none of your assumptions is correct.

When your banker becomes your adversary and your competition it is time to rethink the relationship.

Refinancing is not the issue. I got a 10 year fixed @ 5.75% and still have 6 years on it. Why would I have chosen a 30 year at 6.25% (at the time)? How many people live in a condo for 30 years?

The bank didn’t loan ME anywhere near $1 million but they may have loaned 80% of that to several of my neighbors (using fradulent appraisals and very loose lending standards). Now they are “writing off” $200-$300k per unit by dumping these problem properties on the market and killing the comparible values.

I’ve decided that I may take a “writeoff” of my own.