In July me and my husband had finally found a double wide that we both fell in love with. We was told at the time that we special ordered our new home that if we put money down, it would lock in an interest rate of 8.5% with Green Tree, and that our payments would be $350.00 a month. Great...
We put money down that same day that we ordered it, and was told that it would be approximately 90 days before our home would be in and ready for set up. 2 1/2 months later, we were called and said that the mobile home was in and ready for set up, and that we need to come and sign the loan papers.
When we arrived to sign papers, the payments showed a monthly amount of 559.00. When we asked why, the man at the dealer said not sure why, he called Conseco, which had took over Green Tree since we started this.
Consecos response was, that us putting a down payment at time of ordering only locked in interest rate of 8.5% for 30 days. And that the last 60 days the interest rate had gone up, and now we were looking at 12.5% interest. But said that if we made a years worth of payment, with no late payments, then we could refinance with a lower interest rate.
We had already spent money buying the land to put it on, putting in electric, water, septic, and driveway, and had already sold our other house. We were kinda stuck... So we thought, ok, we'll swing the 208.00 a month for a year...
HA... After, I made my 12th payment, None had been late... I called to see about refinancing like they had told me... Well... My mobile home was now considered a used mobile home, and they could not refinance a used mobile with a lower rate... So I have been stuck paying 12.5% interest since December.
We financed 52,500.00... I called recently to find out what our payoff was, I was just curious... And it is now 58,000.00... More than what we financed... How can that be... They have been applying all of my payment of 559.00 to interest, and somehow been adding extra charges to my account...
Me and my husband since Dec has had some financial trouble, ha has had 4 back surgeries, and is unable to do the kind of work that he used to be able to do. So our income has went down drastically... Making it hard for us to keep up with the payments.
Conseco calls me at my job almost daily, to the point that my boss told me, if they continued to call me at work, that i would be terminated. My boss was at my desk one day, and Conseco called me, I told the lady that I would call her back on my lunch. She called me back 6 times, screaming at me not to hang up on her, cussin me, and threatening me... All with my boss right there, my boss was able to hear everything Conseco was saying to me.
This was very embarrasing to me... My boss decided at that time, that Conseco would not quit calling me, so she moved me to a desk with no phone. They can no longer call me at work...
I just recently found out that Conseco has been calling everybody in the same town that I live in that has the same last name, even though they are not related. Also have been calling my neighbors...
Conseco has been a nightmare... Beware if you are considering them for a loan... I am waiting for them to threaten me with repo, I have decided that I am NOT making anymore payments to this company... They can come and get their piece of crap off my land...
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