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GreenTree Ripoff VERY RUDE, DEMANDING AND HARASSMENT Rapid City South Dakota
GreenTree has called us on our jobs if we were one day late or owed $20.00 on a five day late bill I almost lost my job at that time because of the phone calls.They call my neighbors who are very sick they have told them to quit calling them and they still do.We financed a1994 mobile home through conseco in2001 fore16,0000 after all charges 26,291 dallars it has been 5 years as of july and we steel owe 24;091. we have only paid$271.00 on the balance and the rest went to interest. We are about tired of the whole thing and so ready to let them take the home. It has had shortage in the electrcal from the first day we moved in and the sheetrock holes behind the wall paper. We could not get nothing done and nobody would return our phone calls if we pay it off in 20 years the cost is 69,182.60 fore a singal wide 16 x 76 intrest was told to us it was 6.5% and now it is 14.5% HA ,HA WERE SCREWED EATHER WAY.
Alvin & Mary
Grand Bay, Alabama
U.S.A.
7 Updates & Rebuttals
Kay
Courtland,Mississippi,
U.S.A.
Alvin, Mary did you not have a fixed interest rate?
#8Consumer Suggestion
Thu, July 13, 2006
I am wondering how did you think your rate was 6.5%? Did you read the fine print on the contract? What makes you think it is higher? Did you know that you can send in a "pay to principal" check? Make sure you write that on the check in big bold letters. This will help get that principal down quicker.
Have your neighbors put in writing to stop calling them. (sign and notarize) and send this certified return receipt. I wish I knew your address, I would send you $1.00 to go towards your princpal. Maybe if we all emailed DateLine they would step up and do something about this company.
Steve
Bradenton,Florida,
U.S.A.
Advice for Alvin and Mary..Check your math..
#8Consumer Suggestion
Fri, July 07, 2006
According to your own statement of the figures you have paid off $2,200, not $271.
Did you know on a $100,000 loan at 10% for 30 years at what point you are halfway done paying?
Your logic would say 15th year, right? Well, it would be at the 24th year!
Please be specific on the exact amount financed, the length of your loan and the initial interest rate...And I will tell you exactly what you owe.
That $271 payment is very low even if it was a 30 year loan at 14.5%. It would be approx.$320.
At 20 years the payment would be approx: $336.
Your numbers just don't make sense. Please concentrate, and give us some better facts.
Thanks.
M
Waterford,Michigan,
U.S.A.
Amortization of a 30 year loan (this will help)
#8Consumer Suggestion
Fri, July 07, 2006
When you borrow a sum of money on a compound intrest loan (Aka a car note or home loan) the note is not paid back in say 360 (on a 30 year note) equal payments to principal and intest in fact the payments actually work more like a se-saw. In the begining (traditionally the first 5-10 years) the majority of your monthly payment is applied to intrest durring the end of the term (the last 5-10 years) the majority is paid to principal.
you can check this out and make sure that you are due to be paid in full using the schedule found on bankrate.com
Otherwise although daunting as it is to be in a long term loan we are all dealing with the same thing here.
Have a great day! Hope this helps calm your fears. if you hold the loan for the term listed it will be paid in full on time and the good news is that when you near the end of the loan the principal will drop quickly.
PS 6.5 is a great rate for a manufactured home loan i would not refinance it.
I do work in mortgages but my company does not handle your home types at this time, however i do have some knowledge in this busieness.
Lois
ALBION,Pennsylvania,
U.S.A.
I Completely Understand
#8Consumer Comment
Fri, July 07, 2006
First I would like to state that there is nothing wrong with living in a mobile home. They are very much like a traditional home and they can range in price from reasonable to very expensive.
We purchased our home in 1999 for the sum of 26,798. I have paid on this home since 1999 it is now 2006 and I now owe 33,000 plus. Greentree bought my contract from Greenpoint without my consent or informing us. Nothing ever seems to be applied to the principal it's all interest. I pray for you and all of us that did not necessarly choose to deal with these demons but, where given no choice and now that they have done there best to drive the cost of these homes up and destroy peoples credit they got you in a situtation where there is a no win option. Either bankruptcy, foreclosure or a never ending mortgage. I wish we all could find a good attorney that would handle a class action against Greentree, Conseco, Greenpointe, Etc.
I wish you the best, beleive me I know how you feel.
Lois
ALBION,Pennsylvania,
U.S.A.
I Completely Understand
#8Consumer Comment
Fri, July 07, 2006
First I would like to state that there is nothing wrong with living in a mobile home. They are very much like a traditional home and they can range in price from reasonable to very expensive.
We purchased our home in 1999 for the sum of 26,798. I have paid on this home since 1999 it is now 2006 and I now owe 33,000 plus. Greentree bought my contract from Greenpoint without my consent or informing us. Nothing ever seems to be applied to the principal it's all interest. I pray for you and all of us that did not necessarly choose to deal with these demons but, where given no choice and now that they have done there best to drive the cost of these homes up and destroy peoples credit they got you in a situtation where there is a no win option. Either bankruptcy, foreclosure or a never ending mortgage. I wish we all could find a good attorney that would handle a class action against Greentree, Conseco, Greenpointe, Etc.
I wish you the best, beleive me I know how you feel.
Lois
ALBION,Pennsylvania,
U.S.A.
I Completely Understand
#8Consumer Comment
Fri, July 07, 2006
First I would like to state that there is nothing wrong with living in a mobile home. They are very much like a traditional home and they can range in price from reasonable to very expensive.
We purchased our home in 1999 for the sum of 26,798. I have paid on this home since 1999 it is now 2006 and I now owe 33,000 plus. Greentree bought my contract from Greenpoint without my consent or informing us. Nothing ever seems to be applied to the principal it's all interest. I pray for you and all of us that did not necessarly choose to deal with these demons but, where given no choice and now that they have done there best to drive the cost of these homes up and destroy peoples credit they got you in a situtation where there is a no win option. Either bankruptcy, foreclosure or a never ending mortgage. I wish we all could find a good attorney that would handle a class action against Greentree, Conseco, Greenpointe, Etc.
I wish you the best, beleive me I know how you feel.
Lois
ALBION,Pennsylvania,
U.S.A.
I Completely Understand
#8Consumer Comment
Fri, July 07, 2006
First I would like to state that there is nothing wrong with living in a mobile home. They are very much like a traditional home and they can range in price from reasonable to very expensive.
We purchased our home in 1999 for the sum of 26,798. I have paid on this home since 1999 it is now 2006 and I now owe 33,000 plus. Greentree bought my contract from Greenpoint without my consent or informing us. Nothing ever seems to be applied to the principal it's all interest. I pray for you and all of us that did not necessarly choose to deal with these demons but, where given no choice and now that they have done there best to drive the cost of these homes up and destroy peoples credit they got you in a situtation where there is a no win option. Either bankruptcy, foreclosure or a never ending mortgage. I wish we all could find a good attorney that would handle a class action against Greentree, Conseco, Greenpointe, Etc.
I wish you the best, beleive me I know how you feel.