GreenTree Mortgage ripoff No Equity After 8 years of Paying on Loan. Threatened Foreclosure after found a buyer for Property Durham North Carolina

I have been battling it out with GreenTree/Coseco since 1994. My original loan date was in March of 1994. I refinanced it in 1998 as a home equity loan and the note was for $50,000. After years of trying to sell this property and no luck, I finally got a buyer to basically buy it out from under me and with me basically not making a DIME. When I contacted GreenTree to get the payoff it was $49,500. How can I only have $500 in equity in this house. My payoff was the same exact amount a year and a half ago.

When I contacted GreenTree to basically tell them I have a buyer and to take it off my hands, they told me that I was not allowed to make ANY MONEY on this house because they need all the money owed to them. The person that I had been dealing with put me and the agent on a 3 way call to get all the information they would need to make the sale happen, the "Customer Service" person agreed to pay him the 5% commission on the sale and all the closing costs so that they could the the principal payoff of $44,0000.


After signing all the paperwork with the real estate agent, the person at GreenTree renegs on the deal and basically said that he never agreed to any of those terms. I have been continually harrassed by GreenTree for the past 12 years I have had the very unfortunate experience of having to deal with them. The CSR person basically talked down to me telling me he was going to come after my wages if I did not pay the fees and charges. I explained to him that I had already had the house sold and he saiid he did not agree to a short sale and has basically told me that he is proceeding with the Foreclosure. For anybody wanting a home loan, PLEASE DO NOT use GreenTree. Whatever loan amount that you owe, you will never pay it down. They will stack so many fees and penalties, you will be lucky of you make a $1 on a piece of property that you are buying or selling.


Jennifer
Leander, Texas
U.S.A.