• Report: #361587

Complaint Review: Green Tree Servicing

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  • Submitted: Mon, August 11, 2008
  • Updated: Mon, August 11, 2008

  • Reported By:Sparta Tennessee
Green Tree Servicing
www.gtservicing.com Rapid City, South Dakota U.S.A.

Green Tree Servicing ahead on payments still no principle payments Palitine Rapid City South Dakota

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I have to say I have never heard of more crap than that I am given when I call Green tree. Always before it was told to me that I was not making principle payments in the 11 years of having this loan because I was not paying the payments and they not receiving it 1 day before the due date in order for it to be counted on time.

This Year I tried that and got ahead 1 month on my payments and sure enough the principle payments started dropping. But I held off a little last month and didn't make the payment 1 month ahead. I paid it 15 days before the due date. Now it seems even though the payment was early I was still late because it was more than 30 days between payments.

So even though I was still early no principle was made toward the loan. The thing the always offer me is for them to take automatic payments each month and I would garuntee being on time. This is my issue with that. THERE IS NO WAY IN HECK I WILL GIVE A COMPANY AS CROOKED AS GREEN TREE FREE ACCESS TO MY BANK ACCOUNT PERIOD.

They claim I have a simple interest loan let me tell you there is nothing simple about it. This is actually a compounding daily interest loan. Meaning if you take a 30 year loan with these folks and make your payment one day late (according to them) every month for the entire 30 years, you will find you owe the same amount you borrowed 30 years before.

This company has us and it is legal so the only thing I can do now it suffer through until I hit the lottery and pay them off. But I will have my say I tell EVERYONE I meet to never finance with this company. I go to mobile home dealers when they have loan experts on site and inform folks of green tree. If I can talk one on each of those days to not be scammed by this company I feel I have helped mankind.

Johnnie
Sparta, Tennessee
U.S.A.

This report was posted on Ripoff Report on 08/11/2008 10:55 AM and is a permanent record located here: http://www.ripoffreport.com/r/Green-Tree-Servicing/Rapid-City-South-Dakota-57709/Green-Tree-Servicing-ahead-on-payments-still-no-principle-payments-Palitine-Rapid-City-Sou-361587. 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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