Report: #535110

Complaint Review: Green Tree - Green Tree Servicing - Green Tree Finance - Conseco Finance - St. Paul Minnesota

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Ripoff Report is Xcentric Ventures

Submitted: Mon, December 07, 2009
Updated: Mon, December 14, 2009
Reported By: anonymous — High Springs Florida United States of America

Author Not Confirmed

Why?

Green Tree - Green Tree Servicing - Green Tree Finance - Conseco Finance 345 St. Peter Street St. Paul, Minnesota United States of America

Phone: 800 643 0202
Web: http://www.gtservicing.com/
Category: Mortgage Companies

Green Tree - Green Tree Servicing - Green Tree Finance - Conseco Finance Conseco Finance 30 year mortgage is interest only loan St. Paul, Minnesota

*Author of original report: Ruthless collection practices

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In 1999 my soon to be husband and I bought a 2000 model Fleetwood mobile home as our first home together. At that time we were told that our loan was a REGULAR 30 year mortgage with Greentree. Our interest rate was high (12%) because of my credit but I figured once making payments for a couple of years we could refinance at a lower rate.

To my surprise I later found out that we were contracted for an interest only loan! Loans such as these are for people who have commission based employment and can possibly make larger payments monthly. Unlike myself who has a 8 to 5 job with the state.

From day one we have had forced placed insurance on the home through Greentree. Because of this we have not been able to find an insurance agent who will write a policy on our home. The house is falling apart and could possibly be considered unfit to live in due to the roof falling in, the black mold and water intrusion into electrical lighting. However the forced placed insurance company which is there to protect the lenders interest in the collateral refuses to help.

I have contacted Greentree on several occasions concerning possible refinancing or interest reduction. Every time I am told that they don't do refinancing and a rate reduction is not something they can do. So in the meantime I am paying 648.52 a month (interest and insurance) for a home that isn't fit to live in. At the time that all payments are made I will have payed Greentree 196,000.00. For that kind of money I could have a really nice home with peace of mind.

This report was posted on Ripoff Report on 12/07/2009 09:46 AM and is a permanent record located here: https://www.ripoffreport.com/reports/green-tree-green-tree-servicing-green-tree-finance-conseco-finance/st-paul-minnesota-55102/green-tree-green-tree-servicing-green-tree-finance-conseco-finance-conseco-finance-535110. 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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REBUTTALS & REPLIES:

1Author

0Consumer

0Employee/Owner

#1 Author of original report

Ruthless collection practices

AUTHOR: anonymous - (United States of America)

SUBMITTED: Monday, December 14, 2009

POSTED: Monday, December 14, 2009

I just read the article by CNN concerning the case against Green Tree LLC for contributing to a husbands death. I wasn't going to post any complaints concerning their collection practices but I think this lady needs as much help as she can get.

After a few years of making on time payments to Greentree I lost my job and fell behind on my mortgage. Greentree started forclosure proceedings and incurred legal fees. However, we were able to pay off the past due balance of the mortgage and was told that the legal fees would not become due until the end of the loan term.

2002 - I received a letter demanding full payment of all fees due that were incurred. After several phone calls with court order in hand, they agreed that I was right and that there would be no additional attempts to collect the fees until the end of the loan term.

1/12/09 - I received another letter demanding payment for all incurred fees. Once again I pulled out the court order and the letter I had received years before and started making phone calls. I was directed to Jason in the Jacksonville, Florida office and was told he was my account rep. His actual title is debt collector...

I explained the situation once again as I had several times before and was told that since Greentree incurred the fees they have legal right to demand payment at any time. I was told that there would be an additional amount due each month for the next 19 months to take care of the fees. Any payments I made would be applied to the fees first and my mortgage second. Keep in mind I was told the fees would not be due until the end of the loan term.

I was told to write letters, fax my court order, call and make payment arraignments, etc... I did to no avail. After several hours of conversation (in tears I might add) I never spoke to anyone who was willing to listen. I even heard Jason's boss in the background say "Tell her if she doesn't pay I'm taking legal action".

What they decided to do (without my approval mind you) is take my June and July payments and apply them to the fees! So now my loan has been extended by two months which of course draws more interest (something that the fees did not).

I honestly think that Greentree practices "Creative Financial Practices". They have enough highly paid attorneys who study the loop holes of the law and guide this company on their collection practices.

This is not the only time I have had a run in with Greentree. However, in order to keep my sanity, I have turned off my home phone and use only a cell. Last time I spoke to them I notified them that they were not allowed to contact my cell phone and any further contact would need to be by mail.

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