Complaint Review: Green Tree Servicing - St. Paul Minnesota
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- Author Confirmed
- Green Tree Servicing 345 St. Peter St. St. Paul, Minnesota U.S.A.
- Phone: 800-643-0202
- Web:
- Category: Mortgage Companies
Green Tree Servicing My 4 Million Dollar Mobile Home St. Paul Minnesota
*Consumer Suggestion: Amortization Schedule
*Author of original report: 11 years still no better
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You would think a Mobile Home that cost 4 million dollars would have to be plated in Gold but it is not.I financed it through Green Tree Services for a total of around $37,000 in 2000. Since that time I have made all my payments and to date I am not behind at all. After watching my payments with them I have found that since 2000 I have paid a grand total of $26 and some odd cents toward the principle. That figures out to around $3.17 cents per year I am paying in principle, the rest is interest. At this rate it will take me approximately 9875 years to pay this off. If you figure with my payments being $427.68 a month it comes to a grand total of $4,223,596.61 in total payments I will have made.
John
Middle, Tennessee
U.S.A.
This report was posted on Ripoff Report on 03/21/2007 07:06 AM and is a permanent record located here: https://www.ripoffreport.com/reports/green-tree-servicing/st-paul-minnesota-55102/green-tree-servicing-my-4-million-dollar-mobile-home-st-paul-minnesota-240012. 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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#2 Consumer Suggestion
Amortization Schedule
AUTHOR: Jay - (United States of America)
SUBMITTED: Monday, November 14, 2011
Hi. I read your post and I thought I could shed some light on the subject for you. What you are describing is a standard amortization. The way it works is the first 5-10 years of any mortgages, the majority of the payments is going to pay interest. Around year 13-16 it should be about equal and the last half of the term the majority paid will be principal. I am not a fan of Green tree and their business practices either. However, in your situation I do not believe that anything shady is going on. If you would like further explanation I would suggest you contact Green tree and request a copy of your amortization schedule so that you can see it in print. I hope this helps.
#1 Author of original report
11 years still no better
AUTHOR: Johnnie - (U.S.A.)
SUBMITTED: Monday, October 24, 2011
I am now 11 years into this loan and still have not paid a $1000 toward the principle. Byers beware this company is a crooked institution. If anyone has any suggestions on anything I can do please let me know!!
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