I hear you, but honestly, I’ve had the opposite experience a couple times. When I threatened to walk, my lender just shrugged and let me go—didn’t even try to keep my business. Ended up switching and yeah, it was a hassle, but the new lender actually gave me a better deal with less drama. Sometimes I think they count on people not wanting to start over, so they don’t budge unless you really call their bluff and mean it. Guess it’s a bit of a gamble either way...
That’s interesting, because I actually had a similar experience when I tried to negotiate with my lender. I figured threatening to walk would at least get them to throw me a bone, but nope—they just kind of shrugged and said, “Good luck.” At first I was annoyed, but honestly, switching turned out better for me too. The paperwork was a pain (I swear I signed my name more times than I did on my marriage license), but the rate drop made it worth it in the end.
I do think you’re right about them banking on people not wanting the hassle. If I hadn’t been so fed up with their customer service, I probably would’ve just stayed put. It’s a bit of a gamble, like you said, but sometimes rolling the dice pays off. Funny how what feels like a big headache at first can end up saving you thousands down the road...
Yeah, lenders really don’t budge much these days unless you’re actually out the door. They know most folks won’t bother with the hassle, but honestly, the paperwork’s not as bad as it looks once you get rolling. I’ve seen people save a ton just by pushing through that initial annoyance. Funny thing is, sometimes the “loyalty” discount is just sticking with a higher rate... not much of a reward. If you can stomach the forms, jumping ship usually pays off.