Report: #1089249

Complaint Review: Greentree

  • Submitted: Thu, October 03, 2013
  • Updated: Thu, October 03, 2013
  • Reported By: renee — Grandin Missouri
  • Greentree
    po box 94710
    palatine, Illinois

Greentree concenco fraud, rude and rob you blind palatine Illinois

*Consumer Comment: Daily Interest On Account

Show customers why they should trust your business over your competitors...

we bought our home new back in august 1998. the company was Greentree at that time. we purchase insurance threw them for the first year and then after that we got our own insurance through farm bureau. we had farm bureau for 2 years when greentree started stating that the insurance wasn't covering what was owed on the home ( double wide).  Now we had to drop farm bureau to take greentree insurance company which cost more, don't cover contence and being charged interest on top of it all. few more years goes by and concenco took over greentree and then another few years goes by and were back with greentree. After having and paying on our double wide for 5 years, we didn't see our principle start droping like the salesman said it would. now after 10 years still nothing going down on our principle. Back in 2011 we had water damage to the kitchen and utility room. we never made a claim before and thought we would try to see if we could get help to fix the damages.  the insurance company they made us take was wonderful and sent us the check for the work, but they also had Greentree name on that check. my husband and I had to endorce the check to greentree and wait for greentree to release money back to us to complete the work. we done the work ourself since my husband is a carpenter and jack of all trades. Greentree refused to send all the money from the insurance check. Greentree first sent us 3oo dollars which wouldn't complete the new cabinets. we had to hire a lawyer to get our money. we had 3 month of my home in a wreck. I couldn't cook any meal and it was getting stressful. in the meantime during the year 2012 we wasn't seeing much of a decrease in the princle owed. we did start getting behind on some payment and about to let the home go back. the spring of this year 2013 we thought we would try refinancing with our local bank. most was a go but not had the apprasil done yet. on April 3RD 2013 our house caught a fire, but not a total loss. I kinda froze up knowing the probelms were going to go through with greentree.

Again the insurance company paid good and was easy to deal with , but again the check had greentree name on it so my husband and I had to endorce the check to greentree. then after fighting with them they would not releace no money to us. we had to get our payments current, but they still wouldn't give us no money. Greentree wanted us to pay for the work out of our own pockets, so picture and reciets before they would give us any money for the repairs. I went to many attorneys and none wanted to touch the case. I felt hopeless, stressed and so angry that I was paying for a home that couldn't live proper in. my husband and I desided to stop making payments then after 3 months of more horrasing calls and ect , greentree turned us over to thier lawyer.  we told thier lawyer we was in them middle of refinancing the home but can do it cause the shape the home was in and we was needing our insurance claim money to complete the work. that was the only way we gotten 75% of the insurance claims money. we got the home back in living condition and almost got the home finished at our bank.

I am now noticing which more likely been done to me for 16 years now, but greentree keep adding $8.19 every day for reaccuring interest. I bought the home in August 1998 for $37,000 and today october 3RD 2013 I still owe $31,891.51.. each day they keep adding $8.19 to that amount and my payment is current and not due until october 15Th 2013. here is another thing I like to add is when we had the house fire is when we found out the insurance company greentree made us take still wasn't covering what was owed on the loan.  all these years greentree was frauding us with high insurance cost, interest and all the headache we had to endur.

Greentree is charging us 10.5 % interest on the loan but I don't see were they can charge me $8.19 per day. what is a reaccuring interest anyway. my loan term was for 30 year and then I still wouldn't see how it would of been paid off in that time frame since we been paying for 15 years now and it only dropped around $5,000.. I sure hope my bank hurrys and that greentree will take the remaining $2100. from the insurance claim and put it toward the principle... Greentree a fraud and I advise people to stay clear of them. at least going through my local bank I will have the home paid off in 7 years making the same amount of payments.  thier need to be a class action lawsuit aginst greetree...

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This report was posted on Ripoff Report on 10/03/2013 12:42 PM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment

Daily Interest On Account

AUTHOR: Dave - ()

The amount of interest that is being applies to your account is done by taking the principal balance multiply it by the interest rate and divide that number by 365. 


In your case if there are 30 days between payments $245.70 of your monthly payment will be going to interest.

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