We have our mortgage through Green Tree Servicing LLC and according to their automated system, we owe 63,372.39 if we pay it off by February 19th of 2011. On December 14th we had a fire. Our insurance is through Citizens Insurance company. Citizens has told us today on the phone that they are going to list our home as a total loss. This is a 1996 Redman Manufactured home. I called Green Tree today to ask where I send the check to so we can replace the home with one of equal value. Green Tree informed me that we need to endorse the check from the insurance company and they will apply this to our loan. We questioned this because our policy was written to repair or replace the home, not to pay off our mortgage. The policy limit is 60,000. They said their company policy is to put the insurance money toward the loan. I explained to them that my husband is a disabled Vietnam Veteran in a wheelchair, on 24 hr oxygen and has severe lung issues and no immune system due to his injuries in service. I was told that they could do a collateral replacement which was explaied to me would mean putting a new manifactured home on the lot of same value. This is what we had in mind anyway, to replace home and continue the mortgage. I was told we needed to make this request. I said yes wewould like to do this. A phone call placed to the adjuster a few hours later, not to myself said the request was denied. Green Tree expects us to give them the insurance money and still have a balance to pay monthly and live on the land with no home or try to rent another place on top of this. This is not in our budget of soc sec. And va benefits. Right now we are living on the generosity of friends who have given us a TEMPORARY place to stay. Our only option is to pitch a tent on the property with all my husbands medical equiptment and 2 children ages 5 and 11, or to go live at a shelter. This does not make sense. We are NOT behind in our mortgage. Why is a company like this allowed to get away with this kind of behavior? The point of insuring your home is to protect you so you do not end up homeless. Not to pay off your mortgage and live in a shelter or tent. I guess the owners ans shareholders of Green Tree Servicing LLC do not care about our veterans and their families or anyone else that they do business with. This in my opinion is a truly ruthless company without a heart!
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