• Report: #174677

Complaint Review: Conseco Finance - Green Tree

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  • Submitted: Fri, February 03, 2006
  • Updated: Sat, November 25, 2006

  • Reported By:Hometown West Virginia
Conseco Finance - Green Tree
Mailstop L8000M 800 Landmark Towers 345 St. Peter ST. Saint Paul, Minnesota U.S.A.

Conseco Green Tree ripoff Saint Paul Minnesota

*UPDATE Employee: Is your mother living in the home?

*Consumer Comment: I can sympathize

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My elderly Mother financed a Mobile home through Conseco Finance, now Green Tree, in July of 2000 for myself and my husband. The mobile home is in her name but we have made every payment on it since the first payment was made in Aug. of 2000.

The mobile home was purchased through a mobile home dealership that is no longer in business and hasn't been for quite some time now. The amount financed in July of 2006 was $36,408.65. Here it is Feb. 2006 and the amount owed is now a grand total of $36,800.71. An outrage! An increase of $392.06. How is this possible?

A few years ago I tried contacting the attorny generals office of WV but to no avail. We filed a complaint and was told that this is legal and there was nothing they could do to help us.

The mobile home is in my Mother's name but we resided in it and have made all the payments. We cannot get insurance on it because it is not in our name. The insurance is included in the monthly payment, it is $95.52 a month, another outrage!

Why is this insurance so high is this legal! That's $1,146.24 a year for a 2000 model single wide mobiel home. The amount keeps going up, how are we supposed to ever get this paid off?

I imagine we'll still be paying for this mobile home when we die and my kids will be hounded to pay for it.

We have tried to sell it, as we have since purchased a house and no longer live in the mobile home. We purchased a lot and have the home set up on it.

The problem with this is that no financial institution will loan anyone enough for us to pay it off, because it is a single wide mobile home, they won't finance it, so we are stuck with it it seems.

Now we have owner financed it for a second time so we don't have to pay the mobile home payment and the lot payment. The first time we owner financed the person fell on hard times and had to give it up so we were paying for the mobile home, lot and our house payment.

We have it owner finaced again but for how long I couldn't say. This is a never ending nightmare which I see no end to. I'm a stay at home Mom and my husband is an owner operator truck driver. When he doesn't work our income stops and if we couldn't make the mobile home payment Green Tree will be hounding my elderly Mother. She is 82 and has advanced breast cancer that has spread to her lungs and she is currently undergoing chemo.

If it wasn't for her I would not make another single payment on this mobile home! At the the time of financing the man at the mobiel home dealership said he had never seen a crdit score as high as my Mother's and yet they sitll charged a 13.06% interest rate, so much for low interest rates if you have excellant credit!

When My Mother passes it will take every penny of my inheiratence to pay that mobile home off, if there is that much after her home is sold.

If anyone else out there is in a situation like mine please let me here from you. Is there nothing that can be done about this rip off? If so, why not? What are they doing that they can get away with this? If it's leqal then laws need to be changed. Help!!!

Sincerely

Diane
Hometown, West Virginia
U.S.A.

This report was posted on Ripoff Report on 02/03/2006 07:12 PM and is a permanent record located here: http://www.ripoffreport.com/r/Conseco-Finance-Green-Tree/Saint-Paul-Minnesota-55102/Conseco-Green-Tree-ripoff-Saint-Paul-Minnesota-174677. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 UPDATE Employee

Is your mother living in the home?

AUTHOR: Doryen - (U.S.A.)

Or living with you?

If nobody is living in the home, my advice in this situation would be to let the home go back.

I sympathize that your mother is not well and I hope things for your family get better.

Since you have your own home now, and the mortgage with Green Tree is not under your name, it will not hurt you if you voluntarily surrender the home. Your credit will not be affected. I don't believe your mother would be worried about her credit at this time, since she has a much more pressing issue to deal with.

I wish nothing but the best for you and your family.

You may be interested to know that the word "mortgage" is actually a derivative from the French word Mortere. The literal meaning of "mortgage" is "Death Contract" because in most cases, people have to pay for their homes until they die.

Sincerely,
A Green Tree Employee
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#2 Consumer Comment

I can sympathize

AUTHOR: Amy - (U.S.A.)

I also financed a home through Greentree, then Conseco, now Greentree again in 1998 for 39999. It is a single wide that was placed in a park that they chose for me. I currently after 7.5 long years still owe 37900, the only reason I have gotten that far is I started working in the mortgage business three years after I bought this home from that hideous person who lied to me and I found that bi weekly payments are more effective so I started that and it is working ok. I would love to know how to get out from under this place but there is no one that I have found that knows anyhting about this and says we are stuck for the nect 22 years. I work on this almost everyday of my life becuase I refuse to accept that answer.
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