• Report: #199060

Complaint Review: Conseco Finance Servicing Corp.; Green Tree Servicing LLC; Choice Homes; Choice Marketing Inc.

  • Submitted: Sat, July 01, 2006
  • Updated: Sun, July 23, 2006

  • Reported By:Eaton Rapids Michigan
Conseco Finance Servicing Corp.; Green Tree Servicing LLC; Choice Homes; Choice Marketing Inc.
1400 Turbine Drive Suite 200 Rapid City, South Dakota U.S.A.
  • Phone: 800-6067483
  • Web:
  • Category: tempdir

Conseco Finance; Green Tree Financial; Choice Homes; Eaton Pine Village, Conseco Finance Servicing Corp.; Choice Marketing Inc. Green Tree Financial Servicing; Took advantage of a young nineteen year old and gave him a mortgage that was unsuitable for his earning Total Ripoff Rapid City Nationwide

*Consumer Comment: I agree on them taking advantage

*REBUTTAL Individual responds: Yep Sure Does Suck This Can Happen!!

*Consumer Comment: Steve-believe it or not, this happened quite a bit

*Consumer Suggestion: The only advice really is to just learn fro this..And..

*Author of original report: More to the story

*Consumer Suggestion: Terrance, I think you should give us the rest of the story..

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When I was 19 years old my parents got a divorce. My father and I moved into a modular home purchased from Choice Marketing, through Conseco Finance now known as Green Tree Financial. My cousin co-signed for me.

The original plan would be the house was my father's, but after a year he could not get it refinanced and get it out of my name. Then in January of 2004, my father had a stroke.

I have struggled trying to keep up by myself. Even when my father's SSI came it wasn't even enough to help out. His condition caused him to move out of state in June 2006 leaving me fending for myself on a house that I never originally wanted.

My loan was originally for $52,000 in 6 years I have paid around $800 on the pricipal. Now after 6 years they tell me that I owe them $55,364.38. After 360 payments it would be over $212,800.

Eaton Rapids, Michigan

This report was posted on Ripoff Report on 07/01/2006 10:00 AM and is a permanent record located here: http://www.ripoffreport.com/r/Conseco-Finance-Servicing-Corp-Green-Tree-Servicing-LLC-Choice-Homes-Choice-Marketing-Inc/Rapid-City-South-Dakota-57703/Conseco-Finance-Green-Tree-Financial-Choice-Homes-Eaton-Pine-Village-Conseco-Finance-S-199060. 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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Updates & Rebuttals

#1 Consumer Comment

I agree on them taking advantage

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

I also was unfortunate to have to deal with conseco finance. Although, it was first Green Tree and then they switched. We bought a mobile home in 97 and my mother co signed for us. Were in the house about a year and I was late on one payment...ONE..and I had mailed it off along with the next months. The next thing I know, theres a knock at my front door, (still under Green Tree) telling me he wants his money.. I explained to him what had happened, that I mailed off 2 payments, the late one and the next months, even got out my check book to show him on the duplicate checks. He said he didnt care if I mailed it off or not, he was not leaving until he got the money..I more or less told him to pitch a tent in the front yard cause I was not writting another check. So, 2000 comes and my house was burned down. Now mind you it is now Conseco finance. I had my homeowners insurance escrowed to them so I didnt have to worry about having to keep up with everything. SO, my house burns down, we lose everything, I call conseco finance because I cant find my insurnace papers, they give me the name and number to the insurance company, I make the call and I think all is well..Next thing I know..they start calling my mother in April, the house burned the 1st of Feb. Wanting to get into touch with me so I can keep paying on the house. Ok first off, the refused to speak to my insurance company saying they didnt know if he was really my agent or not, and THEY were the ones who gave me all of his information, that came from the insurance company. MY insurance guy said he thinks its is because they didnt want to have to pay out money to me..instead take me for what they could. Conseco called my mother day and night wanting money..for house payments ...she finally changed her number after a lawyer suggested. They finally got into touch with me, and wanted Feb, March, April, May, and Junes payments, I said you have to be kidding me..you got your insurance money and I am not paying you a dime..what was their response...if you dont pay we will come repossess your house...i had to laugh on that one..i said go ahead, if you think you can get what u think i owe on it, then come get it...It was about 3 weeks later we got the title of the trailer in. It goes to show you, they dont care, the more money they think they can take out of you, then they will. I can not believe this company is still in business. If I hear of anyone getting a mobile home..I tell them right quick..make sure it is NOT with Conseco/Greentree or they will be sorry.
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#2 REBUTTAL Individual responds

Yep Sure Does Suck This Can Happen!!

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

Well it sure is a shame that these people can just ruin people's lives this way and get away with it.

Now I may be looking forward to never being able to have a mortgage again.

Joy to the world.

Thanks America! Land of the Free.
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#3 Consumer Comment

Steve-believe it or not, this happened quite a bit

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

Hey Steve,

Saw your last comment on this. My mother is in a similar situation-not delinquent or anything, but they did finance hers for 30 years. She also is on rented land. When she bought the mobile home, I strongly discouraged her from getting involved with it. I saw the pitfalls-a 30 year "mortage"/personal loan on a depreciating asset. Not smart.

Apparently, Conseco financed several of these in the late 90's and around 2000-2001 (my mother got hers in 2000). Then, suprise, suprise, people started defaulting on the loans. In fact, there were so many defaults, Conseco finally went belly-up in bankruptcy. That is why Greentree has these loans now.

I have to wonder at the decision making process at Conseco. Why any company would put a depreciating asset under a 30 year loan is beyond me, but I guess that's why they failed.
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#4 Consumer Suggestion

The only advice really is to just learn fro this..And..

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


The main problem is the rented lot. That is always a bad deal, because your investment is not real estate since you don't own the land, and are at the mercy of the land owner.

The other problem is that structures of this type depreciate, and that is why you are 'upside down" in it.

Ive never seen a 30 year loan on something that does not include land! That is unheard of! Keep in mind that this is not really a mortgage, as there is no land involved. It is really just a personal loan.

If they repo it, you will be stuck with the deficiency when they sell it at auction as well as the moving and storage costs. and the back park rent. This is an especially ugly situation for your cousin as the co-signer as they will most likely get a judgement against your cousin and file a lien on the other property your cousin owns.

It will also ruin your cousin's credit. Maybe the park owner will buy it and turn it into a rental.

Good luck.
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#5 Author of original report

More to the story

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

Well, after my father had the stroke Green Tree decided to "work" with me by lowering my percentage from 14% to 4% for one year cutting the payments by almost half. The past few months is where I have fallen behind on my payments.

Green Tree called me after I was falling towards being 3 months behind and said that the payments were going back up to the $650 or something. Not only that, the house does reside in a park on a lot. So starting this month the payment for the house including lot rent exceeded $1000 without any utilities added.

Regarding my cousin, he has a wife and a child on the way. He owns his own home, and he tried to get out from under the loan at one point in time. By any means, he has his own house among other things to worry about.

After my parents got a divorce my dad was unable to finance a loan for a house and feeling sypathy towards him I signed with my cousin on this loan. After he couldn't get financed for re-financing a few years later he suffered a stoke. This caused me to be stuck with this house that I did not want, and never did.

I sent a notice of vacatation last month to the park manager and have now moved into an apartment with my girlfriend. I feel I have been walking on eggshells and now am at a point where I am just waiting to see what happens with this situation. Hopefully it doesn't end too bad. I look forward to hearing any advice that anyone may have for me.
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#6 Consumer Suggestion

Terrance, I think you should give us the rest of the story..

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


There are several important facts obviously missing from your post.

First, it is totally impossible to pay on a loan for 6 years and owe more than you initially borrowed. UNLESS, you are now, and have constantly been late on payments every month since the loan was originated. Even with that, I find it hard to believe with my experience in the mortgage business.

And, it is your cousin on the hook for this loan as the co-signer! Where is your cousin? maybe your cousin should move into the home.

Also, is that loan an actual mortgage on real property [modular + land], or is it a personal secured loan for just the modular home on a rented lot.

This makes a big difference.
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