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spaa6 December
2008 ago

I am a truck driver and did make a good pay check,

I am a truck driver and did make a good pay check, but with the slow down i am not doing as well.
My question is inregards to my home loan. My wife and I have managed to keep up with this loan but because of my pay check getting smaller I don't know how long we will be able to continue. Our loan is with greentree at a whopping 10% over 30 years and we want to refinace but greentree will not help us and because our credit has dents in it we can't find any one to help us. Greentree did say if we could not pay they said that they would just take are home. When we have ask other lenders about refinance they were ready to help until I told them it was a double wide and that it sat on a pad. then they said we do not do manufacture homes. I was told that if it was on a foundation (basement) we could get a reg. loan. I still need to get a construction loan to do that. I made some misstake when I was a kid but no one want to bail me out. Our home is are main investment and we don't want to loose it. To make things worse it is a double wide home. We may have been late but we have always paid it. This should count for something. What can we do to refinance our loan. home and three acr. We have been thinking about bankruptcy but have not gone thru with it yet.

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jeffr December
2008 ago Report Abuse

How bad is your credit? Have you ever filed for bankruptcy?

Yes, 10% home loan is high – if you are able to get in the 6 – 8% you will be able to cut off a good portion off of your monthly payment. People who have excellent credit today are able to get 30-year fixed loans for about 5.75% and the Fed just lowered the rate two days ago.

Here is my recommendation: Call GreenTree and tell them your situation. Tell them you would like to refinance and lower your monthly payments. See what they can do for you.

Realize time is of the essence here, so you need to take action now and try to solve your problem before it is too late. You desire to stay in your home, and the best way to make that work is to get your loan refinanced at a lower rate. If you do not have any luck with GreenTree, I would start contacting other companies:
http://www .mortgagecreditproblems.com/quote/mortgage /

http://www.lendingtree.com /

In my opinion, 10% is just too high to pay and if you spend several hours at this, I do suspect you will find another company willing to offer you a lower rate. Again, it does depend on your overall credit rating and unfortunately the banks are not lending like they used to.

Does this help. Please feel free to ask me any additional questions. If I have answered your question, please award the question to me.

Thanks,

JR

jeffr December
2008 ago Report Abuse

I noticed NexTag.com at this URL: https://mortgage.nextag.com /

has a section on step two for double wide / manufactured homes. How many other loan companies have you spoke with?

Has any other company been willing to give you a loan, even at a very high rate?

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