• Report: #1122594

Complaint Review: Green Tree Servicing LLC

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  • Submitted: Mon, February 10, 2014
  • Updated: Mon, February 10, 2014

  • Reported By: kmb — Nashville Tennessee
Green Tree Servicing LLC
P.O. Box 6172 Rapid City, South Dakota USA

Green Tree Servicing LLC Continually file unnecessry interest on to this account. Rapid City South Dakota

*Consumer Comment: Looks like your problem is..

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KAREN B            
(((REDACTED)))

I have had this account for over (6) six years. The more money that I pay into this account the balance does not appear to depreciate. 

Truely this is an Interest Loan, but the amount of interest that I pay continues to fluctuate. The Interest and Principal on this loan is very confusing .

I have requested information about the amount of money that it would take to pay this loan off.  The payoff listed is higher than the present balance on the loan.  This puzzles me; that there can not be a reasonable monetary figure affixed to this account as an exceptable payoff settlement. 

I can not help but beleieve that there are fraudulent and hidden charges made to this account. I am not along in the suspicion that I harbor.  I have read several complaints from other customers of this company.

Enclosed is a summary of my account:Mortgage Loan: 821******                                                                                          

Balance Amount:         $ 4,421.56        *         10.968        %         $ 90.00                1/23/2014                $ 94.50                $ 90.00                $ 4.50                1/16/2014                25                1/20/2014                    $ 45.00       

 
                            $ 91.12                            $ 40.50           
* The Balance Amount listed below is the amount required to pay off your loan. [On 2/10/2014], I was given a pay off figure of $4,497.39 which is $75.83 more than the present balance.  Although this loan has decreased from the original loan amount of $8,789.94; the value is not substantial in relation to the length of time this loan has been in existence and the amount of payments that have been applied towards this account.


 


This report was posted on Ripoff Report on 02/10/2014 04:21 PM and is a permanent record located here: http://www.ripoffreport.com/r/Green-Tree-Servicing-LLC/Rapid-City-South-Dakota-57709/Green-Tree-Servicing-LLC-Continually-file-unnecessry-interest-on-to-this-account-Rapid-C-1122594. 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 Comment

Looks like your problem is..

AUTHOR: Robert - ()

You are missing a lot of details but from what you did post the biggest problem is that you don't seem to be paying either on-time or for the full amount.

If your payment was constant every month and appears to be $90/month.  In 6 years if you have made every payment on-time you have paid a little over $6400.  Your balance has gone down about $2300 which at a quick glance looks about right, if anything it looks like you have reduced it by more than it should be.  As you always pay more interest at the beginning of a loan than you do toward the end.

Now, your statement does look a bit confusing but some of that may be the formatting.  It would also probably be a bit less confusing if you posted more than just a single statement.  But the key to this statement is a few things. 

It appears your payment is due on the 16th of each month and your payment is $90, your last payment was only $45 and made 4 days after the due date.  When you are late they charge you what looks like a 5% late fee making your next regular payment $94.50.  It looks like you MAY be making partial payments (perhaps 2 $45 payments).  But again since the last payment was 4 days late you are charged a late fee. 

I will say the first thing you probably need to do is make sure you pay them $94.50 before the 16th in order to avoid additional late fees.

As for the payoff amount, that is probably correct.  Your statement date was 01/23, since then you have accrued additional interest.  So the $75 extra almost 20 days later is that extra interest between the 01/23 and when you called on 2/10. 

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