Origen Financial sold my home loan to Green Tree.....

[doedoe]

Origen Financial sold my home loan to Green Tree. I recieved a letter in the mail yesterday from Green Tree saying Starting July 1st that they will be handling my mobile home loan. And not to send payments to Origen.

I tried calling Origen but they were already closed for the day. When I looked at their website (origenfinancial.com) they have a post about how they are losing money and would be transfering millions of $ in loans to Green Tree.

I was just wondering if this was normal for companies to do?

And also when it transfers if anything else changes like payments or terms or anything else like that.

Also I was wondering how Green Tree was as a company.

[Anonymous]

I had Green Tree in the past and they were just fine to work with.  Mortgage companies go out of business all the time and unfortunately, you still have to repay the loan.

[doedoe]

My question was wether Green Tree would be able to modify my agreement that I have when I first purchased the home. Like can they change the payment amount up or down, change the due date , things like that. Or do I continue paying the same way just to another lender. Of course I know I still have to pay for it. lol 

[Anonymous]

Well, at least I answered 2 out of the three questions ;-).  Anyway, you're loan terms should be the same.  If you want different terms, you could talk to Green Tree.  I believe they're the largest manufactured home lender (don't quote me on that though) and I always got through to a live person when I called and they were very helpful.

[DallasLoanGuy]

terms cannot change one bit

[msensa]

I feel very sorry for you if you ever get behind with Greentree!  They are horrible to deal with if you are late.  They forced us into BK 6 years ago...

I had this horrid collector calling every single day.  If they don't reach you, they can and WILL call everyone you have given as a reference.  They will contact them--even if only because they got your voicemail.  I would have 4 or 5 messages on mine...first from Greentree, then every 2 minutes from each person they contacted.  Talk about embarrassing!

When we finally filed our BK, it was mainly to shut this horrible person from Greentree up!  She called on Christmas Eve to tell me I should sell my child's gifts to pay them...she wanted me to go look and make sure the wheels were on my home so they could take it, and she threatened to send a truck to do so...they filed foreclosure papers and we filed BK. 

The only pleasant conversation I ever had with them was the one telling them that we'd filed for BK, and they could no longer contact me or I'd get my lawyer on them.  The collector was so hot I could feel her steaming through the phone.  I actually had to get our lawyer to demand they cease and desist.

In my area, owning a mobile home is like owning some prime swampland.  We'll never ever finance anything for 25,000 that's only worth 14,000 again.  I also wish I was as credit savvy then as I am now, for this terrible lady would never get this far with me--I'd have her job on a platter.

Good luck to you, and never EVER pay Greentree late!!!!

Sorry, I had this posted earlier, but it brought back bad memories and I got nasty about GT and the mods deleted it!