Seems like lots of people get odd overwhelming requests for information when applying for a mortgage.
When I sold my first house to purchase my second, I decided to buck the “buy way more than you can afford and be insanely in debt forever and if the market drops your house is worth less than your mortgage” trend. So, my wife and I settled on a nice house that actually cost less then the house we were selling. Sure it was a much further drive, but it was away from the over developed jerk fest we were living in.
This concept of not over extending one’s self was so foreign to the mortgage company, they forced me to write a letter and sign it explaining why oh why I wanted to buy a house for less than I was selling. FSM forbid that I don’t want a 3-month ARM Interest only with an extra 500k loan attached 75 year mortgage.
I just can’t for the life of me figure out what they were protecting by doing this. Any ideas?