Disappointed

[Rose]

I never thought I would be writing to you guys but I feel the need to vent. We (my husband and I) have "done our homework", looked at all brands, compared data, chose two dealers that carried the same brands, got the best price, chose a dealer and begun what we thought was an order to have a home built. We signed the order form, paid down $7500 on October 8 and was told that the house would be built within about two weeks since things are slow. No problem with credit (except my reaction to the percentage rate for a home only as we cannot subdivide our land and that is why we are not stick building...love the property). As most of you know here in the southeast October was a monsoon month. The dealer wanted the driveway ready so we put out quite a bit of time/money to widen/fix a wet driveway (approximately 3/4 mile long) thinking they were waiting on us. As it turns out our salesman left the dealership or now it sounds as if he were asked to leave. We have now discovered he lied about our interest rate, the home has not even been built yet, and today when we went to sign the contracts to start the real process (the guy we are dealing with now is the manager and we feel he really is giving us the truth and trying to clean up the mess the last guy left). Anyway when we went in today, he tells us that our "salesman" said we wanted another floorplan...not the one I brought a copy of with the receipts and order form and the floor plan we thought we were going to get has been discontinued. He will have to call the plant Monday to see if there is any chance we can get the house we want. Well, I am quite disappointed and disheartened with the whole process. My husband is so angry he wants to just get our money back and find another dealer. Since we started this process my understanding is that home only interest rates have increased dramatically and our loan approval runs out December 7. I feel that most manufactured homes are a good product but the folks involved oftentime give it a bad name with their actions.

[Rose]

I am the husband and my question is if the house we ordered has been discontinued and they will not build it, will they refund my $7500 ? We have already (at the salesman's request) purchased the permits which were approximately $475. Our contract states that it was nonrefundable if the loan was approved. The loan was approved but the house we ordered supposedly is not available. Are they required to return our monies? Are they in breach of contract?

[rmurray]

1)...If there is any change in the deal...including the interest rate you where quoted..You have the right to cancel without penalty...All money should be refunded...I would talk to someone much higher up the ladder...Actually...you may have a claim against them and they know it...They may refund your money just to relieve tham of their liability..Some states have specific laws about this..

2)...Home only interest rates have NOT gone up in the last 6 weeks...Current best rates are from Chase Finance and Triad if you have very good credit...but...why not mortgage the whole tract and take advantage of the very low mortgage rates...There are many lenders with no acreage requirements...

3)...I think your husband is right...

[Mrs. X]

Rose and Hubby - who is the dealer involved in this fiasco? You say you're in the southeast, so if you don't want to name the specific dealer, can you give us a hint?

[Rose]

After Monday we may share the dealer's name.

In response to why we will not mortgage the whole tract. It is 39 acres and we are located off of a easement and the land is valued twice as much as the house. We cannot subdivide according to PandZ and that is why we are not stick building and why we will not/can not put up 10 acres or less.

We have been approved with Triad.

Mr. Murray -- what do you consider a "good" interest rate on home only. We were told at the time the highest rate was 7.99 and we could put down 10%. Now they say we need extra 5% to get it to 7.75. What we did not understand or was told is that we were "buying points" and that the interest rate really started at 8.99%. We understood that the percent down payment was going on the principal, and then we discovered it was not.

Yes we want the $7500 back plus interest (that it was not drawing while in my account). Are they responsible for the house permit ($350)?

Hubby (David)

[Rebecca Curry]

I too am disappointed with a recent purchase I made on a mobile home. My husband and I bought a home from a local dealer it was a repo on the retailers lot we paid 10,000.00 dollars and signed the contract. They never moved our home and we couldn't figure out why they kept saying it was the rain then the rain cleared up and now they are blaming the contractors. I just found out the real truth oakwood homes just went into bankruptcy. I don't know what my rights are but they were so fraudlent that it stinks they told us how wonderful the company we were buying from was and all these wonderful things they even made us purchase our home owners insurance through them by just putting it in the contract. The salesman told me we needed to hurry and close because they were getting ready to change the way they did the financing. I should have known something was wrong. They took my money and I have no home now I get to continue to pay rent and they have my home and my money. I am probably going to have to sue them. Well just felt like venting. Rebecca

[rmurray]

Sorry...you will not be able to sue a company in bankruptcy for business before the filing...

You are in the same boat as thousands of others now..To be represented in the bk court you will have to have a Deleware attorney...Complicated and a royal mess...Try calling the home office ASAP...

[Lynne S]

Wow...so people could buy a home up to the day of filing and lose everything...that's stunning...and when they re-emerge from this filing, they have no obligation for the people they left messed up?

[Rose]

Update on our situation: We calmed down and talked with the manager to see what we all could do to get happy. We really wanted this factory's product. The dealer and the factory have tried to satisfy us. The home we originally wanted (believed we had ordered) was discontinued and the new floor plan is really the same home except for the master bath/closet and a few door swings. But that was our (hubby and I) biggest deal; the location and sharing of close space. We were aware that it was being discontinued and that is why we were so happy to be able to "order" it on October 8. But now it is November 26 and they will not build the old one. We were aware in October of a small price increase, and we will not have to pay for that now. Supposedly the factory will build it ASAP. Hubby has spoken to the factory rep and they are wanting to build it as it is their newest offerings (2x6 exterior wall package). The dealer has given hubby the name of the foundation guy to contact and set up a date. Believe it or not, they plan to have us in around Christmas. I will keep you posted.

[Patro]

Sorry to hear about your misfortune. My wife and I are in the same boat....with Oakwood. Severly damaged doublewide, claiming that there are still no funds released, so nothing has been done. Water damage, black mold inside home, same thing on exterior. They claim it's "no big deal", but thats been what we've heard before. Our youngest son is a severe asthmatic, and from what I've read, this can create a health risk. Mind you, these are only the areas that we can see...these can be treated, but what about where you can't see? We're into this land/home project for $114,000 and only want what we paid for. I did get an attorney, and I think I can get out of it, but we REALLY love the land the homes on. Actually, Oakwood bought the land and provided the home. Worst case scenario, they own the house AND the land. Maybe one of Oakwoods executives could move in...OR maybe they'll decide to sell me the land....and we'll go elsewhere. I've definately learned a valuable lesson, and will NEVER repeat it. If anyone is in the Oklahoma area with an Oakwood issue, please contact me. We have obtained legal council and should know more next week. Good luck to you.