Complaint Review: Green Tree Conseco - Tempe Arizona

I seems to me that you were probably late on more than a few mortgage payments. A mortgage company won't start foreclosure unless you are VERY late (usually 3-6 months or so). The last thing they want is your house. Your mortgage payments have evidently been late, and only paid by you AFTER the mortgage company threatens foreclosure. Read the verbage on your mortgage very carefully. There are usually several 'subject to' clauses pertaining to what a wronged party is able to do. For instance if you blow-off or neglect payments, the mortgage company has every right within the context of the mortgage to do things like increase late fees, change due dates and commence court actions. I don't think they caused your strokes, YOU did by not paying on time, and then stressed over the consequences. I sounds as if you may have an interest-only loan. This is a loan whereby you only pay the interest for the first 5 years or so and the principal does not decrease. After 5 years your mortgage payments are MUCH higher. This could be why your loan amount isn't decreasing. I could also be that there are severe prepayment penalties associated with this loan that make it prohibitive to refinance. There ARE laws in Missouri (both State and Federal)to prevent mortgage companies and banks from running roughshod over their clients. I suggest getting a lawyer and bringing up an action against this mortgage company. Be advised that there may also be a clause in the mortgage that may subject you to binding arbitration. What this means is that even though you know you are being royally screwed (and the LENDER knows you are being royally screwed), you CANNOT remedy the problem through legal means. I am no supporter of a bunch of these mortgage lenders. They practice predatory lending as a primary source of income and profit. They typically target lower income demographics the almost poor, the uneducated, and people of color. Most of these loans are higher interest subprime loans (high risk). This problem is becoming rampant (especially in the Southeast US). I wish you the best of luck in your endeavor.

I seems to me that you were probably late on more than a few mortgage payments. A mortgage company won't start foreclosure unless you are VERY late (usually 3-6 months or so). The last thing they want is your house. Your mortgage payments have evidently been late, and only paid by you AFTER the mortgage company threatens foreclosure. Read the verbage on your mortgage very carefully. There are usually several 'subject to' clauses pertaining to what a wronged party is able to do. For instance if you blow-off or neglect payments, the mortgage company has every right within the context of the mortgage to do things like increase late fees, change due dates and commence court actions. I don't think they caused your strokes, YOU did by not paying on time, and then stressed over the consequences. I sounds as if you may have an interest-only loan. This is a loan whereby you only pay the interest for the first 5 years or so and the principal does not decrease. After 5 years your mortgage payments are MUCH higher. This could be why your loan amount isn't decreasing. I could also be that there are severe prepayment penalties associated with this loan that make it prohibitive to refinance. There ARE laws in Missouri (both State and Federal)to prevent mortgage companies and banks from running roughshod over their clients. I suggest getting a lawyer and bringing up an action against this mortgage company. Be advised that there may also be a clause in the mortgage that may subject you to binding arbitration. What this means is that even though you know you are being royally screwed (and the LENDER knows you are being royally screwed), you CANNOT remedy the problem through legal means. I am no supporter of a bunch of these mortgage lenders. They practice predatory lending as a primary source of income and profit. They typically target lower income demographics the almost poor, the uneducated, and people of color. Most of these loans are higher interest subprime loans (high risk). This problem is becoming rampant (especially in the Southeast US). I wish you the best of luck in your endeavor.

I seems to me that you were probably late on more than a few mortgage payments. A mortgage company won't start foreclosure unless you are VERY late (usually 3-6 months or so). The last thing they want is your house. Your mortgage payments have evidently been late, and only paid by you AFTER the mortgage company threatens foreclosure. Read the verbage on your mortgage very carefully. There are usually several 'subject to' clauses pertaining to what a wronged party is able to do. For instance if you blow-off or neglect payments, the mortgage company has every right within the context of the mortgage to do things like increase late fees, change due dates and commence court actions. I don't think they caused your strokes, YOU did by not paying on time, and then stressed over the consequences. I sounds as if you may have an interest-only loan. This is a loan whereby you only pay the interest for the first 5 years or so and the principal does not decrease. After 5 years your mortgage payments are MUCH higher. This could be why your loan amount isn't decreasing. I could also be that there are severe prepayment penalties associated with this loan that make it prohibitive to refinance. There ARE laws in Missouri (both State and Federal)to prevent mortgage companies and banks from running roughshod over their clients. I suggest getting a lawyer and bringing up an action against this mortgage company. Be advised that there may also be a clause in the mortgage that may subject you to binding arbitration. What this means is that even though you know you are being royally screwed (and the LENDER knows you are being royally screwed), you CANNOT remedy the problem through legal means. I am no supporter of a bunch of these mortgage lenders. They practice predatory lending as a primary source of income and profit. They typically target lower income demographics the almost poor, the uneducated, and people of color. Most of these loans are higher interest subprime loans (high risk). This problem is becoming rampant (especially in the Southeast US). I wish you the best of luck in your endeavor.

I seems to me that you were probably late on more than a few mortgage payments. A mortgage company won't start foreclosure unless you are VERY late (usually 3-6 months or so). The last thing they want is your house. Your mortgage payments have evidently been late, and only paid by you AFTER the mortgage company threatens foreclosure. Read the verbage on your mortgage very carefully. There are usually several 'subject to' clauses pertaining to what a wronged party is able to do. For instance if you blow-off or neglect payments, the mortgage company has every right within the context of the mortgage to do things like increase late fees, change due dates and commence court actions. I don't think they caused your strokes, YOU did by not paying on time, and then stressed over the consequences. I sounds as if you may have an interest-only loan. This is a loan whereby you only pay the interest for the first 5 years or so and the principal does not decrease. After 5 years your mortgage payments are MUCH higher. This could be why your loan amount isn't decreasing. I could also be that there are severe prepayment penalties associated with this loan that make it prohibitive to refinance. There ARE laws in Missouri (both State and Federal)to prevent mortgage companies and banks from running roughshod over their clients. I suggest getting a lawyer and bringing up an action against this mortgage company. Be advised that there may also be a clause in the mortgage that may subject you to binding arbitration. What this means is that even though you know you are being royally screwed (and the LENDER knows you are being royally screwed), you CANNOT remedy the problem through legal means. I am no supporter of a bunch of these mortgage lenders. They practice predatory lending as a primary source of income and profit. They typically target lower income demographics the almost poor, the uneducated, and people of color. Most of these loans are higher interest subprime loans (high risk). This problem is becoming rampant (especially in the Southeast US). I wish you the best of luck in your endeavor.