I have been trying to re-fi for 2 months. Double wide,32x42 shop,3/4 acre,private salt water beach access.  Appraisal came in at 150k, owe111k,fair credit w/some cards. These bastards are really pissing me off, one bait and switch after another. They say "5.75%... then owe too much in cards how about an arm? I finally agreed to 7.2% with 9k cash, go in to sign today and they want 7k in fees, after saying it would be 4500. Now I am going to try GMAC. I thought I was going to squeeze in a couple new builds. Watch out for Ameriquest  etc.

Lots of lenders out there looking for a sale and most are crooks.  I spent 10 years in mortgage lending (even worked for Ameriquest for three years) and got out because of all the crooks who made it hard for an honest lender.  You will find one eventually.  Hang in there Pistonman!  

the low rates are always for "qualified" folks...meaning credit scores of 700 plus, usually.  It doesn't sound like your scores are that good, so you won't get that rate...nothing "bait and switch" about it.

I'd find out what my credit scores are, and see if there's anything you can clean up.  You'd be surprised what you can accomplish with full payment and a little sweet talk.  

The debt/equity ratio is something you may just have to live with...but it can hurt your scores.  

Other than my home loan, I have no debt whatsoever.  I've torn up every single credit card I own, and will NEVER get another one.  

I bumped my credit scores up over 700 with some help from my mortgage company, and the good graces of some of the folks I owed money to.  

The reason I called it bait and switch was because of tactics used.
They set me up to sign on a monday and said the paperwork would be E-mailed  Friday, never showed. When I arrived at escrow the agreed upon numbers were jacked up $2000 , as were the points. I signed, then cancelled the next day. I know I am responsible for my credit position, once
those damn cards are paid off they are gone. So far GMAC seems to be honest, hoping for the best.
When I confronted the previous broker he said he "talked to the lender" and they would credit the 2k back. Told him to G.T.H. Thanks for the replies........Pman