Laurie
Aurora,#2UPDATE EX-employee responds
Mon, December 12, 2005
I am an ex-employee of Greentree formerly Conseco. Most likely you have what is known as a "front end loan". This means that you pay all the interest on the term of the loan first before any of your monthly payment starts being applied to principal. If you find yourself in this situation the best thing to do is to refinance through another company. If you are unable to refinance then send in a little extra every month and note CLEARLY on the payment that the extra money is to be applied to principal only. Make sure you make a copy of your check/money order with the notation on it. Principal is the original amount you financed without interest added on. Please note: this will not lower your next month's payment; it will only help you pay off your loan faster. Always send in your payment at least 10 days before it is due as Conseco loans have no "grace period" and they will start adding on late fees. Conseco payments are processed by a third party so do not include any correspondence (letters) with your payment. Any letters need to be sent to a seperate address. As far as the "fix it" issues, Conseco likely has no legal responsibility since it did not manufacture or sell you the home; they only financed it. I would get in touch with the manufacturer. Please understand that Conseco/Greentree is a large company with no personal interest in you or your home.