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Conseco Financing DBA Greentree Financing Loss of my "dream" home!! Rip-off! Tempe, Arizona
My nightmare began in the year of 2000 when I was contacted by Conseco to refinance my home. I had recently went through a divorce and was stressed from bill collector's calling me and decided to go ahead with it to what I hoped would alleviate my stress. I wasn't aware of the by-laws of real estate transactions and could have backed out of it before the initial signing but unfortunately did not. My mortgage was paid of in addition to other bills that had mounted after the divorce. I also have two children which made it even more difficult to manage my finances.
I had an ideal rate of 7% and a mortgage of less than $600 with my property insurance included. I did not realize that I could have merely consolidated my debts (which Conseco probably knew I could but did not have enough compassion to make me aware of this). I thought this was going to put me in a better predicament with my finances but I have had to file bankruptcy twice, got behind on my property taxes (at least 3 years, my utilies have been shut off twice (just to try and pay the $802.00 mortgage that I had with Conseco with a 13.9% interest rate, no home owner's insurance included, and city/county taxes to try to manage.
I pleaded with them (after they allowed me an reajustment on my loan) which allowed me to pay a small portion, move the payments to the end of the mortgage for a period of 2 months. This, of course did not help. I also asked if I could look into refinancing to lower my mortgage an interest rate but I was told that it would only be about $50.00. This was not helpful or the harrassing phone calls I received (Sunday through Saturday) and even once on Mother's day. I was told by one representative from Conseco that if I was not out eating steaks that I probaly could afford my payments, I was told by another that I should let my utility bill go to pay them, I got into a yelling match with this one which accused me of being less of a mother. It stressed me out so bad that all I could do was cry. The phone calls ceased only because of the bankruptcy (which I had to file about 8 months in making an attempt to keep).
I lost my job in August, 2003 and after the second bankruptcy I had filed and of course was not able to make the payments. I knew what the next step would be and that was foreclosure but by then I was tired from fighting with them and merely just gave up and decided to live out my redemption period which is drawing very near (9/18) and I don't have another home to go. I was told that they would have to evict me legally but I don't have much faith in them following the law at this point and time. I am still in a financial crisis, however I was able to find another job, have had my utilities shut off because of the high bill and me and my children have been living in a hotel for a week now. The Family Independence Agency have agreed to give me emergency assistance and that problem will be solved but I am praying that they will not put us out on the streets next week.
This is the end of my report and I appreciate your being available in allowing me this opportunity. Thank you and God Bless us All!!!
Dorothy
Detroit, Michigan
U.S.A.
CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.
1 Updates & Rebuttals
Sharon
Vineland,New Jersey,
U.S.A.
Try Legal Aide, Every person deserves to be treated with respect and not fear being thrown out on the street
#2Consumer Suggestion
Wed, September 22, 2004
By your report, you sound like your income may be low enough to qualify for free legal assistance. It varies state by state, but at least please look into this. You are far from the only victim. I know what it's like to pay almost $800 a month for an equity loan on top of a regular mortgage. It is a path that leads directly to bankruptcy/foreclosure and in my opinion lenders know this. It happened to me too. Also, IMO it may be that this loan was made without regard to ability to pay.
One hard lesson to learn is to NEVER replace unsecured debt with a secured loan. I learned the hard way.
Every person deserves to be treated with respect and not fear being thrown out on the street. Check your phone book yellow pages and see if there isn't some legal assistance you can qualify for. Believe me, these lenders will not listen to you but a lawyer is a different matter altogether. Good luck to you.