We started working with American Financing in March. We were locked into a deal with promises of a low percentage rate. We had a better offer and told them so and they came back with an even lower deal. We decided to stay with them and 2 weeks later, we are told now we can't get this deal. This caused us to lose the other financing we had. We were assured over and over again that we will close any day and we were locked in. 2 more weeks passed and no phone calls so we contacted them. Every time we were promised that there were no problems. Finanlly the title company came by the house and we signed all the documents and closed on or around April 1st. We were told not to make the next 2 house payments or the house insurance and that we had 3 days to decline. 3 weeks later we were contacted by our original financer and told to make the house payment, that it had not been done. We contacted American Financing and they said again, no problem that they wanted to do another house appraisal. Still no phone calls from them. We contacted them again and were told no problem that it would be final soon. This went on for 2 months and caused our house payments to be late that could hurt us now. All our payments have been on time till this. We called them again! On June 15th were told we were not being refinanced. Now after all of this, we are having difficulty in getting refinanced. And the ARM will cause our percentage rate to go up every 6 months. After all the media on the foreclosures and such, we have always made our payments, have good credit and NOW will probably cause us to lose our house, our first one. This has been one of the most upsetting and stressful situations we have had to deal with and now we don't know if we can make the payments. I will NEVER recommend them and let every one I know about this situation.
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