Green Tree practices rude and deceptive techniques. When I bought my home in 1997, it was financed through Green Tree (then a real lending company). My first indication of a problem should've been when they brought the wrong papers to the mortgage signing. At first, they were very good to work with. Then they went Bankrupt.
My loan was sold to Conseco Finance, and I had problems with my payments being mis-applied. A year or so later, Conseco went bankrupt and my loan was turned back over to Green Tree. Now the extensive problem begins.
1. I tried selling my home several times. The original mortgage I signed had an assumable loan. Since Green Tree went bankrupt (twice in my mind), they stopped selling new loans. They told me my loan was no longer assumable. A rep by the name of Mike even used vulgar language and swore at me. This is not an isolated case. My neighbor (Green Tree services all Mortgages on my street) also was sworn at and had his terms changed without notice or signing new paper work. He eventually moved out, left the keys on the counter and told Green Tree to never contact him again.
2. Green Tree has blocked every attempt of my selling my home. They would not accept another mortgage company paying off the loan - citing that I was to keep the property until I payed the mortgage in full. They even blocked attempts to re-finance when the interest rates bottomed out. Because of this, no realtor will work with me. As soon as they hear Green Tree is my mortgage company they run away. Many realtors will not list homes that have Green Tree, due to their tactics to block the sale.
3. I never missed a payment with them - however I found where if my loan payment was delayed in the mail - they will apply the entire amount to the interest only. Thus, my principle balance barely decreases. What was once a 30-yr mortgage (at the rate they are applying the payments) will now take 40 additional years to pay off. They also were holding my additional amounts in escrow and not applying them to the principle - even though I told them too. They would just hold it for the next payment.
4. My original mortgage papers said that I could rent my property as needed and keep all money collected. Now, Green Tree will not even allow me to rent out the property - citing the mortgage holder had to live on the premisses. I am currently unemployed (thanks to this economy) and I had to turn down good job offers due to not being allowed to sell or rent my property. They claim if I do not live there, I am in default.
Because I am now unemployed, I am still making my monthly payments - but they are sometimes a little late; due to having to wait on my unemployment check. They start calling the day after it was due and immediately start being rude - before I even have a chance to speak. My wife is not on my mortgage (I bought the property prior to her moving to this state). They tried to authorize a payment out of her - with accessing my bank account; to which my wife is not even listed. She hung up when they started reading my bank information to her.
Many people in my neighborhood call Green Tree a loan shark. More than one person on my street has had their mortgage changed or paperwork messed up - even after years of on-time, payments.
Three people on my street already just moved out and let Green Tree take the property back - because they could not work with them. Even if you pay your mortgage - you get harassed and treated rudely just for calling them with questions, etc. I am also told they do not always have to disclosed everytime they change your terms - as they are not a lender; they are just a servicing / dept collector now.
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