Conseco Finance Corp Formerly Green Tree illegal sale of my mortgage to a private citizen Sacramento california

How about if Conseco told you there was no paperwork to be signed when they helped you find another party assume your loan? in 2002 Conseco was letting poeple assume! our problem is it shows on our Credit Bureuas as paid as agreed and assumed! now 4 1/2 years later, we get a call from greentree saying we are still reresponsiable for this home cause the lady after 4 years abandoned the home!the reason they say we are responsiable is because conseco did not have us sign a letter called a surrender of Secured property!Isn't that conseco's fault? why are we being punished for trying to do the right thing? when most poeple would just leave the home!

phyllis

Conseco bought Greentree in 1998 and all the former Conseco mortgages and loans were transfered and held into Greentree's name. If you held a Conseco mortgage, the name on title or the deed to your house would remain to be Conseco as first lien holder because Greentree is Conseco. Same concept with mortgages being sold off to other companies. In the case of Encore Credit Corp, irreguardless of who is servicing your loan now, your title to your house would say that you obtained a mortgage through Encore Credit Corp because that is the bank that you had delt with at the time of the transaction- i.e. purchase/refinance. Loans get sold off all the time, yet titles do not get updated until a new purchase or refinance is recorded. It's not like a credit report which constantly gets updated.

As for your mortgage getting sold off to a private individual...any mortgage company can sell off the mortgages to anybody they want. So it could go to Joe Smhoe or Ameriquest...who'll ever buy it. This transaction is not illegal by any means. The Privacy Act in which you are talking about is the one where mortgage companies/loan servicers must keep all your information confidential when they obtain your loan. When someone else gets your loan the are required by banking commision law to uphold the same policy. Therefore what they did was not illegal. As for the 1099C, have you even looked up who needs to file this form? 1099Cs are filed by corporations lending money i.e. Conseco, credit unions, any military department, resolution trust companies, etc. Pretty much anybody who holds large somes of money and lend it out in any which way. They provided you a copy of the 1099C most likely for your records because you hold a mortgage with them. Nothing that is going to change your tax returns or financial status.

Conseco bought Greentree in 1998 and all the former Conseco mortgages and loans were transfered and held into Greentree's name. If you held a Conseco mortgage, the name on title or the deed to your house would remain to be Conseco as first lien holder because Greentree is Conseco. Same concept with mortgages being sold off to other companies. In the case of Encore Credit Corp, irreguardless of who is servicing your loan now, your title to your house would say that you obtained a mortgage through Encore Credit Corp because that is the bank that you had delt with at the time of the transaction- i.e. purchase/refinance. Loans get sold off all the time, yet titles do not get updated until a new purchase or refinance is recorded. It's not like a credit report which constantly gets updated.

As for your mortgage getting sold off to a private individual...any mortgage company can sell off the mortgages to anybody they want. So it could go to Joe Smhoe or Ameriquest...who'll ever buy it. This transaction is not illegal by any means. The Privacy Act in which you are talking about is the one where mortgage companies/loan servicers must keep all your information confidential when they obtain your loan. When someone else gets your loan the are required by banking commision law to uphold the same policy. Therefore what they did was not illegal. As for the 1099C, have you even looked up who needs to file this form? 1099Cs are filed by corporations lending money i.e. Conseco, credit unions, any military department, resolution trust companies, etc. Pretty much anybody who holds large somes of money and lend it out in any which way. They provided you a copy of the 1099C most likely for your records because you hold a mortgage with them. Nothing that is going to change your tax returns or financial status.

Conseco bought Greentree in 1998 and all the former Conseco mortgages and loans were transfered and held into Greentree's name. If you held a Conseco mortgage, the name on title or the deed to your house would remain to be Conseco as first lien holder because Greentree is Conseco. Same concept with mortgages being sold off to other companies. In the case of Encore Credit Corp, irreguardless of who is servicing your loan now, your title to your house would say that you obtained a mortgage through Encore Credit Corp because that is the bank that you had delt with at the time of the transaction- i.e. purchase/refinance. Loans get sold off all the time, yet titles do not get updated until a new purchase or refinance is recorded. It's not like a credit report which constantly gets updated.

As for your mortgage getting sold off to a private individual...any mortgage company can sell off the mortgages to anybody they want. So it could go to Joe Smhoe or Ameriquest...who'll ever buy it. This transaction is not illegal by any means. The Privacy Act in which you are talking about is the one where mortgage companies/loan servicers must keep all your information confidential when they obtain your loan. When someone else gets your loan the are required by banking commision law to uphold the same policy. Therefore what they did was not illegal. As for the 1099C, have you even looked up who needs to file this form? 1099Cs are filed by corporations lending money i.e. Conseco, credit unions, any military department, resolution trust companies, etc. Pretty much anybody who holds large somes of money and lend it out in any which way. They provided you a copy of the 1099C most likely for your records because you hold a mortgage with them. Nothing that is going to change your tax returns or financial status.

Conseco bought Greentree in 1998 and all the former Conseco mortgages and loans were transfered and held into Greentree's name. If you held a Conseco mortgage, the name on title or the deed to your house would remain to be Conseco as first lien holder because Greentree is Conseco. Same concept with mortgages being sold off to other companies. In the case of Encore Credit Corp, irreguardless of who is servicing your loan now, your title to your house would say that you obtained a mortgage through Encore Credit Corp because that is the bank that you had delt with at the time of the transaction- i.e. purchase/refinance. Loans get sold off all the time, yet titles do not get updated until a new purchase or refinance is recorded. It's not like a credit report which constantly gets updated.

As for your mortgage getting sold off to a private individual...any mortgage company can sell off the mortgages to anybody they want. So it could go to Joe Smhoe or Ameriquest...who'll ever buy it. This transaction is not illegal by any means. The Privacy Act in which you are talking about is the one where mortgage companies/loan servicers must keep all your information confidential when they obtain your loan. When someone else gets your loan the are required by banking commision law to uphold the same policy. Therefore what they did was not illegal. As for the 1099C, have you even looked up who needs to file this form? 1099Cs are filed by corporations lending money i.e. Conseco, credit unions, any military department, resolution trust companies, etc. Pretty much anybody who holds large somes of money and lend it out in any which way. They provided you a copy of the 1099C most likely for your records because you hold a mortgage with them. Nothing that is going to change your tax returns or financial status.