241 - Cash for the Next House
The Jesse Mecham Show
YNAB
4.7 • 1.1K Ratings
🗓️ 12 September 2016
⏱️ 4 minutes
🧾️ Download transcript
Summary
Here's the #1 reason to pay cash for your next house.
Transcript
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| 0:00.0 | Hello, whinabbers my name is Jesse Meekham and this is podcast number 238 for Wino. |
| 0:14.4 | Where we teach you four rules to help you stop living paycheck to paycheck, |
| 0:17.8 | get out of debt and save more money today. A little bit about the debt. |
| 0:22.0 | Here is the best reason to not |
| 0:26.1 | ever borrow money and to pay cash for your house. That reason is Wells Fargo and I |
| 0:32.2 | will say Wells Fargo because I don't want to just say some big bank. |
| 0:35.4 | It was Wells Fargo. |
| 0:37.4 | And it was a disaster. |
| 0:39.1 | So everything's done. |
| 0:40.4 | Everything's good, but my word, what a disaster. |
| 0:44.6 | That experience alone of having them say, |
| 0:47.1 | yeah, you're good, and then two days later, |
| 0:48.5 | no, you're not, we need this, we need this again. |
| 0:50.6 | We ask for this two other times, but we need it again. We need you |
| 0:53.5 | just sign every single paper. We think you're a criminal because you own a |
| 0:56.6 | business. All of that stuff. I just got to go through that process. That process |
| 1:01.6 | was a nightmare. So there are two things I learned from it. One, I'm never |
| 1:05.6 | getting a loan from Wells Fargo again. And what's strange is 80% of you based on my surveys, |
| 1:11.2 | 80% of you, at least based in the US, that are listening to this, have had some |
| 1:15.3 | negative experience with Wells Fargo and it upset you and if I were to bring it up to you in person, |
| 1:20.8 | you'd say, oh yeah, if I would have known you were going |
| 1:22.8 | to all as far I would have told you to steer clear because that happened eight |
... |
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