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Report: #155874

Complaint Review: Green Tree, Conseco - Tempe Arizona

  • Submitted:
  • Updated:
  • Reported By: St. Louis Missouri
  • Author Confirmed What's this?
  • Why?
  • Green Tree, Conseco 7360 South Kyrene Tempe, Arizona U.S.A.

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Every time I try to get another mortgage company interested in doing a refianance Green Tree lies about the amount owed on the loan and the payment history, always attempting foreclosure then proven wrong but charge me their court costs plus the mortgage payment. They have taken away their grace period changed the mortgage due date numerous times. Seems that they can treat people anyway they want and get away with it. I've suffered two strokes because of all the stress they have caused me. I wish I never heard of them. I guess they won't rest until they take my home or kill me but I'd rather I keep living and let them have it. There are no laws in Missouri to help the consumer. Hope someone can slay this giant.

Savonia
St. Louis, Missouri
U.S.A.

This report was posted on Ripoff Report on 09/03/2005 05:45 AM and is a permanent record located here: https://www.ripoffreport.com/reports/green-tree-conseco/tempe-arizona-85283/green-tree-conseco-rip-off-misplaced-payments-charging-law-fees-even-though-paid-on-time-155874. 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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#4 Consumer Comment

Could be more predatory lending...

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

POSTED: Saturday, September 03, 2005

I seems to me that you were probably late on more than a few mortgage payments. A mortgage company won't start foreclosure unless you are VERY late (usually 3-6 months or so). The last thing they want is your house. Your mortgage payments have evidently been late, and only paid by you AFTER the mortgage company threatens foreclosure. Read the verbage on your mortgage very carefully. There are usually several 'subject to' clauses pertaining to what a wronged party is able to do. For instance if you blow-off or neglect payments, the mortgage company has every right within the context of the mortgage to do things like increase late fees, change due dates and commence court actions.

I don't think they caused your strokes, YOU did by not paying on time, and then stressed over the consequences.

I sounds as if you may have an interest-only loan. This is a loan whereby you only pay the interest for the first 5 years or so and the principal does not decrease. After 5 years your mortgage payments are MUCH higher. This could be why your loan amount isn't decreasing. I could also be that there are severe prepayment penalties associated with this loan that make it prohibitive to refinance.

There ARE laws in Missouri (both State and Federal)to prevent mortgage companies and banks from running roughshod over their clients. I suggest getting a lawyer and bringing up an action against this mortgage company. Be advised that there may also be a clause in the mortgage that may subject you to binding arbitration. What this means is that even though you know you are being royally screwed (and the LENDER knows you are being royally screwed), you CANNOT remedy the problem through legal means.

I am no supporter of a bunch of these mortgage lenders. They practice predatory lending as a primary source of income and profit. They typically target lower income demographics the almost poor, the uneducated, and people of color. Most of these loans are higher interest subprime loans (high risk). This problem is becoming rampant (especially in the Southeast US).

I wish you the best of luck in your endeavor.

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#3 Consumer Comment

Could be more predatory lending...

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

POSTED: Saturday, September 03, 2005

I seems to me that you were probably late on more than a few mortgage payments. A mortgage company won't start foreclosure unless you are VERY late (usually 3-6 months or so). The last thing they want is your house. Your mortgage payments have evidently been late, and only paid by you AFTER the mortgage company threatens foreclosure. Read the verbage on your mortgage very carefully. There are usually several 'subject to' clauses pertaining to what a wronged party is able to do. For instance if you blow-off or neglect payments, the mortgage company has every right within the context of the mortgage to do things like increase late fees, change due dates and commence court actions.

I don't think they caused your strokes, YOU did by not paying on time, and then stressed over the consequences.

I sounds as if you may have an interest-only loan. This is a loan whereby you only pay the interest for the first 5 years or so and the principal does not decrease. After 5 years your mortgage payments are MUCH higher. This could be why your loan amount isn't decreasing. I could also be that there are severe prepayment penalties associated with this loan that make it prohibitive to refinance.

There ARE laws in Missouri (both State and Federal)to prevent mortgage companies and banks from running roughshod over their clients. I suggest getting a lawyer and bringing up an action against this mortgage company. Be advised that there may also be a clause in the mortgage that may subject you to binding arbitration. What this means is that even though you know you are being royally screwed (and the LENDER knows you are being royally screwed), you CANNOT remedy the problem through legal means.

I am no supporter of a bunch of these mortgage lenders. They practice predatory lending as a primary source of income and profit. They typically target lower income demographics the almost poor, the uneducated, and people of color. Most of these loans are higher interest subprime loans (high risk). This problem is becoming rampant (especially in the Southeast US).

I wish you the best of luck in your endeavor.

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#2 Consumer Comment

Could be more predatory lending...

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

POSTED: Saturday, September 03, 2005

I seems to me that you were probably late on more than a few mortgage payments. A mortgage company won't start foreclosure unless you are VERY late (usually 3-6 months or so). The last thing they want is your house. Your mortgage payments have evidently been late, and only paid by you AFTER the mortgage company threatens foreclosure. Read the verbage on your mortgage very carefully. There are usually several 'subject to' clauses pertaining to what a wronged party is able to do. For instance if you blow-off or neglect payments, the mortgage company has every right within the context of the mortgage to do things like increase late fees, change due dates and commence court actions.

I don't think they caused your strokes, YOU did by not paying on time, and then stressed over the consequences.

I sounds as if you may have an interest-only loan. This is a loan whereby you only pay the interest for the first 5 years or so and the principal does not decrease. After 5 years your mortgage payments are MUCH higher. This could be why your loan amount isn't decreasing. I could also be that there are severe prepayment penalties associated with this loan that make it prohibitive to refinance.

There ARE laws in Missouri (both State and Federal)to prevent mortgage companies and banks from running roughshod over their clients. I suggest getting a lawyer and bringing up an action against this mortgage company. Be advised that there may also be a clause in the mortgage that may subject you to binding arbitration. What this means is that even though you know you are being royally screwed (and the LENDER knows you are being royally screwed), you CANNOT remedy the problem through legal means.

I am no supporter of a bunch of these mortgage lenders. They practice predatory lending as a primary source of income and profit. They typically target lower income demographics the almost poor, the uneducated, and people of color. Most of these loans are higher interest subprime loans (high risk). This problem is becoming rampant (especially in the Southeast US).

I wish you the best of luck in your endeavor.

Respond to this report!
What's this?

#1 Consumer Comment

Could be more predatory lending...

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

POSTED: Saturday, September 03, 2005

I seems to me that you were probably late on more than a few mortgage payments. A mortgage company won't start foreclosure unless you are VERY late (usually 3-6 months or so). The last thing they want is your house. Your mortgage payments have evidently been late, and only paid by you AFTER the mortgage company threatens foreclosure. Read the verbage on your mortgage very carefully. There are usually several 'subject to' clauses pertaining to what a wronged party is able to do. For instance if you blow-off or neglect payments, the mortgage company has every right within the context of the mortgage to do things like increase late fees, change due dates and commence court actions.

I don't think they caused your strokes, YOU did by not paying on time, and then stressed over the consequences.

I sounds as if you may have an interest-only loan. This is a loan whereby you only pay the interest for the first 5 years or so and the principal does not decrease. After 5 years your mortgage payments are MUCH higher. This could be why your loan amount isn't decreasing. I could also be that there are severe prepayment penalties associated with this loan that make it prohibitive to refinance.

There ARE laws in Missouri (both State and Federal)to prevent mortgage companies and banks from running roughshod over their clients. I suggest getting a lawyer and bringing up an action against this mortgage company. Be advised that there may also be a clause in the mortgage that may subject you to binding arbitration. What this means is that even though you know you are being royally screwed (and the LENDER knows you are being royally screwed), you CANNOT remedy the problem through legal means.

I am no supporter of a bunch of these mortgage lenders. They practice predatory lending as a primary source of income and profit. They typically target lower income demographics the almost poor, the uneducated, and people of color. Most of these loans are higher interest subprime loans (high risk). This problem is becoming rampant (especially in the Southeast US).

I wish you the best of luck in your endeavor.

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