We have owned our home for seven years. Everything was fine until we recieved a letter dated January 2, 2009 that our 2nd mortgage had been sold to Green Tree Servicing, LLC. My husband was in ill health for several months during 2008, and had two hospitalizations. We became behind on our mortgage. We applied for a home loan modification with our first mortgage company, America's Servicing Company and also applied for a home loan modification with Green Tree Servicing, LLC at the same time in March of 2009.
Due to the circumstances, our first mortgage company approved the loan modifcation, and reduced our interest rate from 7.75 % to 4.8 % for a 30 year fixed rate mortgage. I repeatedly called Green Tree Servicing, LLC to ask if they had approved our application for the loan modification. Every time that I called I got a different person on the phone, they didn't appear to know what I was talking about, I had to repeat the entire situation to each and every one of them. Every representative of that company said that I couldn't qualify for the home loan modification until we got caught up with the mortgage. I told them that if I had the money to get caught up with the loan I would not have applied for the modification. They just kept demanding the money. One rep. named Mike went so far as to tell me to borrow the money from a relative or sell my belongings or do whatever it took to send them their money. I asked for his supervisor and he hung up on me on 5/26/09 at 2:45 pm. I called back and asked for his supervisor, and a woman got on the phone who was every bit as rude as he was. When I got off the phone I was so upset I burst into tears. I had just gotten out of the hospital 2 days before.
The next day, on 5/27/09, I placed another call to Green Tree and spoke to a man named Justin. He told me if I didn't come up with the money by 5/31/09 that they would proceed with legal action. I had explained to all of these people that America's Servicing Company had approved our loan modification, and they were holding the first mortgage for $100,000.00 and why is it that Green Tree, who is only holding a mortgage for $25,000.00
was not willing to reduce our interest rate. The interest rate they are charging us is 11.75 %. They all told me that they didn't have to lower the interest rate.
Prior to my husbands health issues in 2008, we had a good payment record for 6 years. Now because of Green Tree and their threats to foreclose on our home, because they demanded to have their money by 5/31/09, I told them I would have it to them by 6/24/09 but that wasn't good enough for them. So we are forced to sell our home, give up our dreams, face financial ruin, not to mention the stress it has caused me, my husband, and our 14 year old son. I hope that someone will put this greedy, life-destroying, predatory lending company out of business before they rob more innocent people of the "American Dream."
West Enfield, Maine