GreenTree
Green Tree Servicing No payment towards principle in 6 years, all interest

I noticed on a tax document I received from Green tree that in 2005 no money was directed towards the principle of the loan for that year. I called Green Tree and asked why that was and I got this big spill on a simple interest loan. I was also told not only was all my payments going to interest but I was still in the rears on interest; meaning I was not paying enough to even cover the interest.

I asked for a breakdown of all the payments I made and they agreed to send it. Upon receiving this form I was mortified! Not only were no principle payments were made in 2005 but also after 6 years of making payments to Green Tree in excess of $30,000 only the first 2 had principle payments. I had made a Grand Total of $25 toward owning my Home.

I realize most money of the first payments is for interest but not one penny towards the principle in over 5 years?

Johnnie
Sparta, Tennessee
U.S.A.

Company: GreenTree
Country: USA
State: South Dakota
City: Rapid City
Address: PO Box 6172

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