Jay
111,#2Consumer Suggestion
Mon, November 14, 2011
Hi. I read your post and I thought I could shed some light on the subject for you. What you are describing is a standard amortization. The way it works is the first 5-10 years of any mortgages, the majority of the payments is going to pay interest. Around year 13-16 it should be about equal and the last half of the term the majority paid will be principal. I am not a fan of Green tree and their business practices either. However, in your situation I do not believe that anything shady is going on. If you would like further explanation I would suggest you contact Green tree and request a copy of your amortization schedule so that you can see it in print. I hope this helps.
Johnnie
Sparta,#3Author of original report
Mon, October 24, 2011
I am now 11 years into this loan and still have not paid a $1000 toward the principle. Byers beware this company is a crooked institution. If anyone has any suggestions on anything I can do please let me know!!