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Old 03-15-2013, 11:52 AM   #1
Join Date: Sep 2012
Posts: 86
Refi denied

I tried to re-fi my 2010 georgetown with Essex (Costco add) who gave me a re-fi 2 yrs ago, but was denied due to the coach only having a value of $60,200. Wow, shocking!. Does anyone have any ideas? Essex was giving 4.39%.

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Old 03-15-2013, 12:56 PM   #2
Join Date: Apr 2010
Location: South Jersey
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Good Sam may refi whole amount if credit over 800. Give them a call.

2010 373DS
Master Tow with 2008 Nissan Altima
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Old 03-15-2013, 03:23 PM   #3
Join Date: Sep 2012
Posts: 86
Just filled out Good Sam application for re-fi, and guess who handles theirs? Essex!! Well, I know what their answer is going to be.
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Old 03-15-2013, 04:37 PM   #4
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Location: Upperco, Maryland
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Try and you'll get a chance to compare a couple lenders and find the best rate. Capital One is one that comes to mind.

2007 Georgetown 370TS

Driver: Charlie
Navigator: Sheri
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Old 03-15-2013, 04:55 PM   #5
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Old 03-20-2013, 09:57 AM   #6
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Location: Greer, SC
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I just refi-ed with essex, via Good Sam, no problem on 2011 360, and yes like most all I am little upside down as depreciation is rapid on motorhome. Not bragging, simple fact, both our credit scores are over 800 and there was no issue. My original loan was with Bank of the West, which owns Essex, do not know if it made a difference or not.
Logic will carry you from point A to point B. Imagination will carry you everywhere. "Albert Einstein". 2011 Georgetown 360, Bride of 45yrs, and 2014 Chev Equinox toad, what more could you ask for.
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Old 03-20-2013, 10:12 AM   #7
Join Date: Sep 2012
Posts: 86
Yeh, they re-fied us two yrs ago when the rig was 1 yr old and was not so up side down. We had to put in another $5K to do it. But now, they say the rig is $20K upside down and they would be glad to do it if we come up with the 20K. Our credit is outstanding too but it looks like they only re-fi newer rigs not so upside down.
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Old 03-23-2013, 08:07 AM   #8
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Unless the % rate is terribly unfavorable why not focus on making more frequent and larger monthly payments? Since you can buy a new GT from RVDirect and Terrytown for under 85K for most models brand new I can't imagine banks would be eager to refinance any motorhome (unless a large sum of cash was put down).

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