In 2007 my husband and I decided to purchase a mobile home, as a temporary living situation while I was in college and he was looking to pursue his career in law enforcement. Due to the volume of advertisement we elected to visit Luv Homes of Dyersburg. We were selling our current home and had no more than 30 days to be moved out. We were told by the manager and the sales team that this would not be a problem and that they would get us in our new home in time. After being "homeless" (living with my in-laws and paying storage fees for approximately 2 weeks) I contacted Clayton Homes directly and was told that the normal time for the purchase of a home like the one we wanted was 90 days. The next day the store manager called me and we were in our home 3 weeks after we moved out of the home we sold. After setting up the home and getting everything installed the Luv Homes store manager showed up at our home for an "inspection" at this time we were told that in order to complete the purchase we would have to re-sign the paperwork because they had made an error. At this point we were partially moved in and literally stuck with no other choice.
We are now wanting to sell this home. We have a 10% interested rate on a mobile home that we owe sixteen thousand dollars, more on than it is worth. It is financed for 20 years and in the 2 years we have lived here we have only paid approximately six-hundred dollars per year in principal and approximately three thousand a year in interest. I feel as though we were suckered due to our age. I also feel that if we deserved a 10% interest rate with a 20 year mortgage on merchandise that depreciates greatly; then we were in fact NOT eligible for the purchase of this home. I also feel as though the re-signing of the paperwork was something that was probably planned in a way to make us feel as though we were doing something right and then forcing us to re-sign what we didn't agree upon initially. My husband is now a Patrol Officer for Blytheville City. I am working for a dental practice, and we have a small child. I will graduate from college in May and plan to attend RN school thereafter. We are trapped with this home. We cannot sell it because we owe almost twice of what it is worth. I hope that there is something that you can do to help us. We are honest, hard working people. We were and are still young but it's amazing what a little education can do for your outlook on life. Please help us if there is any way possible.