GreenTree Ripoff Lied, cheated, stole thousands of dollars over 6 years, added insurances St Paul Minnesota
This is my second letter reference to these devils and hopefully the last one. I have read your letters and God knows my heart goes out to each of you. Until I started dealing with these crooks in 2003, I really did not think people in a business relying on people could be such low down, schandles. But even more eye opening to me is that we the consumers don't have a prayer.
Unlike most of you, I never lived in the trailer. I got it in my name for my sister in law who died six months after she/I got it. The original amount financed in 1999 was 49000. In 2003 when my brother decided that he was no longer going to live there and walked off, I stepped in to save my credit. The trailer was on land that he was leasing so I had everything put in my name.
I was shocked when I saw the 10% "simple interest". That "simple interest" within itself should be out lawed. Then I noticed that the original loan was $49000 and three years later, it was up to $52000. I never had any intensions in having anything to do with that trailer (my mistake), so I never read the contract or anything. I called Greentree and asked for a copy of the contract which they would not send.
They had added two insurances on to the bill too which I never signed for. I repeatedly asked them to take the insurance off and I was only sending money for the trailer payment. Of course they put my money where they wanted it, interest, insurance and never anything on the principal. After writing the BBB, I was able to finally get copies of the contracts. Then I proved to them that the signatures were not mine for the insurance and asked then to stop using my money for them.
I wrote FTC, BBB, Pre Bush, Senators, and every body but no help. I even paid a lawyer and showed him my contracts to include the extra $2000 they added to the contract. He could see it and he was ready to go into court for me. Suddenly, I stopped hearing from him so I assume that they brought him off too.
I assured Greentree that I had no use for that trailer and the only reason I was paying was because I signed the contract. I am a Christian and I believe in doing the right thing otherwise I would have told them where to go in 2003 and I would not have paid a dime on the trailer.
To make a long story short, I got screwed by Greentree, layer, FTC, BBB, Bush, and Dole. I have continued to pay the bills on time each month and I prayed for God to help me. See I could not get it refinanced because it is a 1998 trailer valued at probably $35000 but I still owe the original $49000 on it 6 years later. Believe me Green Tree knows how to get us and it is a shame that there is nothing we can do. Anyway thank God I finally have a buyer for my land and trailer. I will loose but I will count it a blessing just to never have to deal with thoes devils again.
I wish I could shout it to the world and let everybody know what crooks they are to spare them from the pain and headaches I have gone through. I pay them timely. Ironically, there bill comes on the 1st to me. I immediately mail it back on the 1st and it never arrives before 8, 9, 10 days to insure the entire payment goes into interest.
Green Tree does "simple Interest" which means that even if your payment is due on the 15th of each month, you need to make it gets to the office the same day of each month or all of your money goes on interest. Until this summer, I mailed my payments in time to insure that they were there before the 15th yet I could not understand why no money was ever applied to my principal. A quick lesson on "simple interest" explained that for 6 years, my brother and I for the most part were just donating $457.38 to Greentree.
In February I suppose to sell it but from now until it is a done deal, I am using electronic pay pal through my credit union. That way I know it will be on time. Like now it is the 31st of December and I mailed my payment yesterday but I bet you anything that it will not post before January 8, 2006 to make it past December 8, 2005 when they posted my last payment that I mailed November 30, 2005.
My heart really goes out to you all who have to deal with those devils. You are so right they lie, steal, cheat and I have living proof and there is nothing you can do but take it.
Florence
HUNTERSVILLE, North Carolina
U.S.A.
7 Updates & Rebuttals
Florence
HUNTERSVILLE,North Carolina,
U.S.A.
Green Tree Insurance
#8Author of original report
Tue, May 30, 2006
I understan perfectly well the rrequired insurance on loans, but if the insurance was so legit, why did they drop the 2 and call themselves giving me a refund. They are a bunch of crooks and they should be put under a jail. By the way, I understand interest too but they were rediculous. They are just thieves. As for late, I do not do late. I pay my bills on time or before time and I have the credit rating to prove it, even with Greentree. As for the the lawyer, your client is probably 100% true. If possible I would love to help.
FAJ
Tina
Coldwater,Mississippi,
U.S.A.
Just wait until your ready to pay them off...
#8Consumer Comment
Thu, May 25, 2006
I am not a consumer of Green Tree by choice. My mortgage loan was originally established through, i believe, Bank of America, and has since been sold 3 (or is it 4?) times now. Ive been bounced around so much in the last 12 years its hard to remember. The one thing that has been constant, is the astranomical 12 1/2 % interest we have been paying.
My big complaint with Green Tree, is the brick wall i keep running into, in trying to pay off my loan. When we bought this home 12 yrs ago, my husband and I were 1 month pre-wedding, so the loan/mortgage went into his name only. When i tried to call to get the pay off amount on the loan 2 weeks ago i was told they could not give me that information because i am not a legal party on the account, that they would have to get permission from my husband before they could release that information to me. I, perhaps, could swallow that theory if...
1. they not in the next breath begun to tell me how much our payment was and harrassing me to make or set up a payment in that amount. Am i or am i not a person they can deal with, how can it go both ways?
2. if i was not the only person that has dealt with this account over the last 12 years. They have my name documented in their systems and know me by name when i call.
3. if they hadnt not only been given permission, but been TOLD on numerous occassions by my husband to deal with me and not bother him in regards to this account. Green Tree had made it a habit of calling him at work, and he has made it clear to them more than once to not call him at work, and he went so far as to give them my cell phone number and tell them to always cal and deal with me, his wife.
Apparently they dont make very good notes in their records, or they are conveniently ignoring said notes in order to prolong my account. Who knows which. Disgusted with them, i referenced my last statement, which said my principal amount was 6196.00, and i cut them a check for 6000.00. I figured this would get me close enough to pay off that once they sent me another statement i would make one final payment and be done with Green Tree. Things can never be that easy though, can they? Its nearing the 1st of the month when my June payment would be due and ive recieved no statement. Today i called to inquire about my 6000.00 payment, and no one knows what im talking about. It hasnt been posted to my account, and "sometimes it takes a while to post payments".........its been 10 days. I can just see the 12 1/2 % tacking on some more.
Sad, we bought this place for 23000.00 12 yrs ago with a 3000.00 down payment, 12 yrs of payments, plus a recent 6000.00 payment, and im still not rid of this loan. I cant yet say that ive been ripped off of anything, but they sure are PILLS to deal with. ITs the mortgage that never ends my friend. :(
Brian
Indianapolis,Indiana,
U.S.A.
Sad, True & yet still Funny
#8UPDATE EX-employee responds
Thu, May 25, 2006
Okay, I find myself laughing as I read your half tue comments...the illegal insurance you mention is actually CPI insurance (COLLATERAL PROTECTION INSURANCE)every financial company in the county has language in the contracts that stipulate the purchaser (you) must have full coverage collateral insurance for every day of the loan contract. When you sign at the bottom of you oan, that gives the lender the right to track this insurance and if there is a lapse in coverage they legally have the right to force a policy on the loan. (YES, YOU DID APPROVE THIS)
Theefore when you continually do not supply your own insurance, your contract value will increase, not to mention when you pay past due on any installment loan (THESE LOANS ARE MADE AROUND 30 DAY INSTALLMENTS, YOU MUST PAY EVERY 30 DAYS)there is more interest billed. You question simple interest! All intallment loans in every company is simple interest, unless you want a credit card loan!!!
T.l.
Decatur,Alabama,
U.S.A.
Green Tree ripoff follow up
#8Consumer Suggestion
Wed, May 24, 2006
Don't know if your attorney ever followed through, but I recommend you keep trying. I have a client (I'm an attorney) who has reported to me the exact same thing you report here. I'd be interested in knowing more about your case as I begin to research the facts of my client's.
Lisa
Bellaire,Ohio,
U.S.A.
lied, cheated, stole from me
#8Consumer Comment
Sat, February 25, 2006
us to lied, cheated, stole from me
Florence
HUNTERSVILLE,North Carolina,
U.S.A.
Green Tree lied, cheated, stole from me
#8Author of original report
Sat, January 07, 2006
Regarless to what you say and I have the proof. Green Tree gives "simple interest" a new meaning. For your information my situation was none of the ones you meantioned. But for the record, I mailed my January payment due January 15th on December 28 before I got the bill and it was posted on Jan 5. This is a first. I just knew it would post after January 8, because the one I mailed Nov 25 posted Dec 8, 2005. If I paid late or missed payment or anything, I would not have a problem with Green Tree. I have redit cards, and a house loan but nothing is like this cheaters and thieves. They have lied and stole money for 6 years but thank God it is almost over.
FAJ
Robert
Aliso Viejo,California,
U.S.A.
What other interest would you like to pay?
#8Consumer Comment
Tue, January 03, 2006
I am confused on this "simple interest" comment, what type of interest do you feel you should be paying? All mortgage loans are based on "simple interest", opposed to compounded interest that credit cards charge. Did you ever think that you might have a interest only loan and that's why the balance has not gone down at all.
There are only 2 ways a mortgage balance can go up, one is by getting a negative amortized loan where you are deferring interest to the end of the loan. The other way is by not paying enough each month or not paying at all for a few months and the mortgage company adds legal fees, late fees and whatever else they can come up with.