I can remember as a kid going into my home branch and the teller and bank manager knew my parents by name. Any time my parents needed anything the manager could go out of his way to make sure they accommodated their needs. This is back when personal banking had a meaning; we weren’t just numbers in the system.
Nowadays you can’t do anything in the bank without the bank manager and a great team of underwriters at head office making sure there is absolutely no risk in granting your request. I am noticing more and more that even home owners with equity don’t have any leverage when times are tough. I guess it makes sense when the average household debt to income ratio is a whopping 167%, but whose fault was that? As the debt to income ratio started to rise it wasn’t time to shut the doors, it was time to take action and help people get through the tough times.
An article came across my desk the other day and I want to share it with everyone as it really shows an example of what I am talking about. It would be nice to not be treated like a numbered file in a cabinet somewhere, but like a person and that my situation is unique and valuable. Let us know how you feel.
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