Getting the Banker off My Back

Hi Scott,

My husband and I recently received an inheritance, which we have used to pay off our home loan -- which is obviously great. We are ready to discharge the mortgage and get the title deeds to our home back from the bank. But the bank is saying we should leave it with them to avoid tens of thousands of dollars in future mortgage stamp duty (say, if we decide to invest in property down the track). What to do?

Michelle

Hi Michelle,

Here’s what I’d say to them: “Screw you bastards, give me my bloody title!” The only reason they want to keep your title is so they can lock you in and sell you more debt.

Scott