Green Tree Servicing Chalk another one up for Green Tree Servicing's unethical acts ripoff Saint Paul Minnesota

This is by a individual involved in the manufactured industry. I will not give out my company due to wanting to keep my privacy, but I have done collections for manufactured industry, and actually worked for Vanderbilt Mrgt. I have taken peoples home like she stated below. All I found in her argument was the same frustration that grips everyone who can't realize their are consequences to not paying for their house note....and as follows are a general answer.

>Has anyone out there had their manufactured home >loan through a lender who then assigned rights >of the mortgage to GreenPoint Credit, who then >sold out to Green Tree Servicing?

Thousands. Gt is the largest loan servicing company for manufactured homes to my knowledge. Close behind them comes Vanderbilt

*****Green Tree Servicing, LLC, purchased our defaulted manufactured home loan in October of 2004, which under section 1692(e) of the commercial code, makes them a "debt-collector". I received nothing from GreenPoint regarding the transfer, and notification by Green Tree, introduced themselves as our new "loan servicer".****

Yes and no. They are considered 3rd party in a phone call sort of way. However, your home was collelateral to the loan. So even if they did have to abide by FDCPA, they could could take you to court etc to get the property. And with regards to notices, that is your responsibility to make sure your creditor has good information to reach you. If you went into bankruptcy, it is unlikely that you ever took the time to update your creditor with good information.

*****A motion for relief of stay was filed with the bankruptcy court supposedly on behalf of "GreenPoint Credit" who no longer had interest in the loan. They proceeded in state court and were successful in an unlawful detainer action, and a writ of possession. The thing hardest to believe, is they did this without so much as a copy of the security agreement for the loan due to fact it was "lost" by GreenPoint when centralizing their record warehouse.****

If anyone reads this with any amount of business common sense, they will see you don't have a legitmate dispute on this. First, they wouldn't file for a write of possesion if you were up to date on your bankrupty plan. I know, I have worked for manufacutered home company's including Vanderbilt...so I do have experince in dealing with this more than you even though living in one of these homes. ....So are you trying to say that the in essence your main complaint is "they took my home without showing me a copy of my contract that it was ok for them to do, even though originally I had a contract with Greenpoint"?? I am not trying to be personal, but it really makes no sense, you didn't pay your bill and you lost your home.

****When we converted our chapter 7 to a 13, our attorney faxed their attorneys notice that same day. Several days later we received a three day notice stating that Green Tree had sold our home at a private auction, to themselves for what was still owed on the loan, screwing us out of somewhere between 30,000 and 40,000.****

Tried to liqudate all your debt and instead they forced you into a payment plan? Seems like an evasion of bills to me. And just for anyone who doesn't know this, mobile homes depreciate approx 50% over several years, just like a car.... so it is nothing new what you are saying this is normal. Try buying a real home, or paying cash for it instead and you won't have this issue. Otherwise it is inevitable.

****The original loan was for 49,000 plus and that is what they claimed we still owed after FIFTEEN YEARS OF PAYMENTS.****

Mobile home contracts are generally simple interest contracts. You pay exactly on time every month for your 30 note and it will be paid off. You run behind...and I wonder why you didn't mention this (you did file bk after all, this must mean you were having problems with the bills).... Say you had a $40k contract and daily interest was a good rate and only $20 a day....if you run behind 2 pmts, say 60 day, that is quite a bit of money. So you add xtra money into the balloon note at the end, and you never really pay much towards the principal. Trying paying xtra and ontime and this wouldn't have been an issue.

*****WHAT HAPPENS NEXT?

Well, you filed BK so really all you did was lose your home. You aren't held accountable for the deficiency balance per state law in CA probably, and even if so your BK would protect you from this. GT just wanted the home, since you couldn't stay to plan. And if you couldn't stay on a BK plan???? I wonder if you were able to even finish the Bankrupcy 13 which can last 3-5 yrs, if you didn't and state law allowed garnishment, then you would have a life long thorn with collections due to your breach of contract, (you signed it after all), and possibly garnishment to pay back your $30k you still owe....