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unfair
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Posted by lucewebb
(65.173.53.211) on August 04, 2004 at 10:02:00:
- snip - Sec. 227.12 Definitions. For the purposes of this subpart, the following definitions apply:
(a) Consumer means a natural person who seeks or acquires goods, services, or money for personal, family, or household use other than for the purchase of real property. - snip - So does this mean, if everytime the balloon comes due on my mortgage and the interest rate I am being charged goes up everytime - regardless of how mortgage interest rates keep coming down by the Federal Reserve - I can't complain? Or I can complain but nothing will be done about it? I realize that a simple solution would be to refinance through a different mortgage company, but I've tried that and can't find a mortgage company that will refinance. And why is that? It's because I own a single-wide mobile home. Even though it's on real property that I own, and on a full basement with a stick-built 14X22 addition, it makes no difference. Now this is unfair. And, by the way, the interest I am being charged on the mortgage I just had to renewed in May of 2004 (balloon date) is 11.095%. Is this fair? My median credit score is 656 (average)so the outrageous interest rate I am being charged is not due to me being a high credit risk. And I have never missed a payment. If anyone can help me I would appreciate it. My e-mail address is: lucewebb@yahoo.com Kristina Webb
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