I would suggest that you get some legal counsel, perhaps with the local legal services agency if necessary. If your initial note is written for a fixed rate and term which it probably was with the payments at $ 652 per month, and you were current with the payments so that there wasn’t a default clause that triggered a higher interest rate, any purchase of the note by Greentree is bound by the terms of the original note. They cannot arbitrarily change it. If Greentree changed the note illegally, you would have a chance to recover. If you re-wrote the note to get cash out or something like that, you would have a harder time but not impossible.
I don’t wish to give you false hope about getting out from under the note without bankruptcy. I repeat the advice about having an attorney review the document and have all the letters about changing the interest rate and documentation of your monthly payments.
I bought a doublewide 28*68 4bed 2 bath schultz in 2001…My payments were 652 a month, that was through conseco…2 years ago i learned that they were going bankrupt and my note was bought by greentree… Now my payment is 858.62 plus lot rent, and insurance which they quit paying plus my taxes were included before but not now…My intrest rate is 16.99% and is killing me having to pay a higher payment plus all this extra that was included in the beginning…I asked them about refinancing at a lower rate last year and they said they are not doing that yet, but will let me know when they are…which i now know will never happen they keep giving me the runaround…also thye did give me a forebearance last year but it has been a year with nothing they have said coming true…I can not afford to pay 1387 a month just on my mortgage and lotrent now…before i could handle it but not now…I have tried to refiannce it but nobody will do it…i have tried, aarons, mountainside, all of them…nobody wants the mess…i am at the point of loking around for something else and filing bankruptcy on this…Is there anyone out there that can give me some advice on how to handle this or what my options are on this problem…it seems like they just do not want to work with me on anything, plus i am not behind and am current on my payment, but am having alot of difficultiesmaking these now with only my husband working since my car accident…Please help me if you can…Thank you Lynn
I don’t understand your problem. You say your payment was 652 a month, and then you say “Now my payment is 858.62…”. What happened? Why did your payment go up? Where did the number 1387 come from? 16.99% is a very steep rate, and it may make more sense to walk away, and get a home somewhere else that is less expensive.
Perhaps you should consider a smaller home, or an older home that someone would finance for you with a lower monthly payment.