• Report: #106216

Complaint Review: GREENTREE {CONSECO FINANCE}

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  • Submitted: Mon, August 30, 2004
  • Updated: Mon, August 30, 2004

  • Reported By:Starkville Mississippi
GREENTREE {CONSECO FINANCE}
PO BOX 94710 PALATINE, Illinois U.S.A.

GREENTREE {CONSECO FINANCE} RIPOFF, VERBALLY ABUSIVE, DISRESPECTFUL PALATINE Illinois

*Consumer Suggestion: I don't like Conseco, either....

*Consumer Comment: Get copies of everything with your signature

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When I first purchased this mobile home I kept my payments going well, but my job ended up cutting hours and I got behind on my payments. And am still having trouble because i don't make as much and they'll start calling on the day my paymnet is due up to 3 -4 times a day not to mention sometimes 2 people on the phone talking to me at the same time.

This led to the phone calls to questions like,"Don't you have a man to help you pay your bills? Lots of cursing, just plan rude, its like its their home and they pay all the bills. And even have the nerves to call on Sundays. I've even put a payment in the mail a day before receiving a phone call from them and was told to go get the letter out of the mailbox or get my things out of the house, which is impossible to get a letter back out of a postal service box {ignored them}.

Well when I got the home I was going through a divorce and needed a place to stay immediately and they approved me for a home,in a hurry I didn't pay any attention to the loan papers until it crossed my mind to see why it was going to take me 30 years to pay for a 30,000 dollar home which with interest in 30 years totaled 109,000 odd dollars{my god}. I really feel as if I've been had.It hurts me to think I'm stuck in this home for this long with no way out because of my credit. So,I called them today to see what my pay off was in 10 days,just curious,they told me 33,217 dollars which is a little more than the original price of the home and I've paid close to 27,000 or more on the mobile home only {6 years and some months 294.85 each month}.

The person I talked to told me that was insurance and taxes when insurance is paid seperate. And I know that if its being paid off 24 years early some of that money should go towards the mobile home it self not just interest.I am tired of being stressed and just want a way out.When I finish paying for this home it will have fell to the ground as its beginnning to now. Help me please I know something is wrong.....

Cassandra
Starkville, Mississippi
U.S.A.

This report was posted on Ripoff Report on 08/30/2004 09:17 PM and is a permanent record located here: http://www.ripoffreport.com/r/GREENTREE-CONSECO-FINANCE/PALATINE-Illinois-60094-4710/GREENTREE-CONSECO-FINANCE-RIPOFF-VERBALLY-ABUSIVE-DISRESPECTFUL-PALATINE-Illinois-106216. 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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#1 Consumer Suggestion

I don't like Conseco, either....

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

... but I question this post as a ripoff. "I was in a hurry", "I didn't pay attention to the loan papers", "I really feel as if I've been had".

That Truth-In-Lending statement that you're referring to (the one that tells you what the total paid would be at the end of the term) ISN'T some obscure language in tiny print.

I can't stand them, either. I was a long, long ago former customer. They give loans to people who don't have the discipline, maturity, or sense of responsibility to pay them. That describes me back then. It also describes you right now.

Then we bark when they go to all lengths to collect.

I'll further tell you this: I'll stop pointing out the obvious to you and give you a couple of self-experienced facts. Mobile Homes do not gain value, they lose value. This makes it very difficult for you to sell it for even $1 more than you owe. I was in that position with Greentree and simply walked away from it. Mine was falling down (actually, splitting in two) as well. I did not file bankruptcy, just walked. They failed to obtain a judgement against me, and eventually, 7 years went by. Bye Bye Negative Credit item. It's as if it never happened. That was 16 years ago.

I'd never advise walking away otherwise, but you're in a lose-lose. One I've been in with them. And after the passage of (granted, a lot of) time, my relationship with this evil company became over. And today I enjoy my own (REAL) home and a pristine credit report.
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#2 Consumer Comment

Get copies of everything with your signature

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

Cassandra,
Call or write to the legal department at GreenTree Servicing immediately and get copies of everything you signed. Make sure it is your signature! We found that our loan had been forged by the dealer!! It is now in the hands of the local law officials. We do have a seller for our home, but have had to go through hell and back with GreenTree to sell this thing. We also owe more than what we started out, why you ask? Because mobile homes are not mortgaged the same as real property. They are set up as personal property like car loans. Now if you have this on your own land I do believe it needs to be done differntly but I am not sure. But a plain mobile home in a lot, is set up like a car loan, you pay off interest first, then principal. GreenTree is a predatory lender! They are awful. We found out that our dealer was receiving kickbacks from Conseco and placed our loan with them, instead of placing us with a local bank with an interest rate 3% lower. This information was found out recently through the investigation!

You can contact the legal department at:
Green Tree Servicing LLc
Corporate Legal Department
300 Landmark Towers
345 St. Peter Street
Saint Paul, MN 55102-1637
Phone 651-293-4800
Fax 651-293-5818

I have found it much more responsive if I send a letter by fax to them. Calling is out of the question, it is an answering machine and they never return your call. If you decide to send a letter by mail do it certified only!
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