My husband and I bought our mobil home with Conseco at 17.25% interest rate and were promised that in one year if we did not miss payment we could refinance with them. Conseco went bankrupt before the year was up and our financing was transferred to Green Tree. It has been 3 years now and we have never missed a payment or been late.in fact, we even pay on the principle.
We recently tried to refinance and Green Tree turned us down. We do not even want a lower payment. We have already paid 26,000.00 on this mobil home in interest alone!
We do not understand what makes them think we won't pay our mortgage if they give us a lower rate when we pay it the way it is! This is unethical business practice. We are having a baby and need more space and of course our mortgage is assumable but at 17.25% noone wants it! If we sell we will take a $15,000.00 loss all because they won't refinance!
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