ACK! Bank of America just sold my note to Gree Tree LLC who wants $12 for online payments!!! I need some help.

Tell them you want to see the note they claim you owe on...

I thought about doing that - however, I have 2 issues with it

1 - I don't want to tank my credit over that gamble. Like I said - this is only a starter house.

2 - Morally, I find it difficult to do that. Its my home - I owe the debt, and its within my means to pay it off. Home is worth ~50k - note is for 30k. Nobody wants to touch a refi because its so little $.

Basically, I bought a 1600ft fixer upper as a single guy and gutted the whole place. Bought 3 yrs ago when the market was bottomed out - so I'm still ahead on the value.

I'm half-halfheartedly wishing I would have just purchased a 250k home.

Last Edited by ifSHTF on 09/02/2011 12:11 AM

thanks for the suggestion.

Last Edited by ifSHTF on 09/02/2011 12:12 AM

Yep, BOA is doing that selling its best lones to GT. I can confirm this. They did it to me.

Refinance... go on line get a good rate and run with it. It is a lot of work just start calling.

You can do it if I did. I am cheering for you.

I googled Gree Tree to figure out who the hell they are and all I got was 3 pages of complaints and then found out that its $12 bucks to pay online and they tend to add all sorts of fees to the loans. Not a very good record, and I rather not deal with them.

I plan on heading to a local credit union tomorrow, but the last time I tried to refi, I got shot down because the loan is tiny. Heck, I even offered to pull equity out to increase the loan. denied.

I can do what? refi? I've already tried - 4 banks - denied 4 times. However, they were all the larger ones and had no desire to own such a small loan. Chase (my direct deposit bank), 5/3rd, BOA (who the loan was under), and Wells Fargo.

I figure I'll offer to move all my accounts to a local credit union and just say forget the big banks.

Last Edited by ifSHTF on 09/02/2011 12:22 AM

dont do anything but continue to pay it, so many people are losing everything over a phone call with questions or agreeing to some new payment plan and then get screwed, these companies are looking for any reason to cause problems and get you tricked in to "doing the right thing" which turns out to be the wrong thing. Some that tried to refi only lost their house because upon further review the lender determined that their current status disqualifies them from the mortgage they currently have. It all in the small print. Just dont fuck with your mortgage.

Yup, I just talked to someone today that said the same thing about their BOA loan being sold to GT. Sounds like a scam alright.

Now I just made my August mortgage payment today (1 month late) to Chase and they never called me or sent a reminder or e-mail or anything. But I did have to pay a $40 late fee, at least they didn't harass me.

Have you thought about speaking with an actual mortgage broker? They know just about every gimmick in the book, every company, every trick..

That's how we got our house. Ours was $83,000 after all the closing costs. And then we got our lovely $8,000 credit.. ;)

We have been fighting Green tree for years when our Mortgage company sold out to them. They are awful...BUT
you can save money by making your payments at Wal-Mart...that's what we do. it's just a couple dollars.

Can't you just mail them a check each month? Just spend the cost of a stamp? Online is way easier but if you can mail it or set it up for automatic deduction then do that :)

I feel safer refinancing the home, or even selling it to my Fiance - versus keeping it with this new nightmare. They already started making harassing calls saying I'm late on the payment - which used to be due on the 9th! I've never once missed a payment in my life.

The stories I read were bad - people paid off the loan only to have all sorts of fees after the fact.

Chase owns my loan too. I've had a few issues with them

I called in a payment and they said "through checking?" and I said "yes" and that was it. They processed it through an old account at another bank which was suppose to be closed. That bank charged me $25 and then Chase charged me $25. Neither bank would give the credit back. Couldn't ruin the credit because my husband was about to buy his distributer route.

The second thing is.. my escrow at the end of this year will have a $200 surplus.. but they're still charging me for a shortage $3.09 every month.

But.. they have never harassed me. And I hope to goodness they never sell my loan. I feel like that should be illegal unless the bank in question will be closing operations. The purchasing bank should have to adhear to all of the previous loan arrangements.

I believe they have to give you notice in writing if they are changing the date and technically if you are one day late I think they are allowed to call you. While I may trust what you say that you are good on your word that you've never been late, most of these companies are more for harassing than anything else. They are debt collectors scared they can't get the debt they purchased. It's sad.

Honestly though, I think they have to give you notice in writing if they have changed the terms including the due date.

Automatic deduction is one of the worst ways you can pay anything. if they go in and deduct the $ 6 times, they do not always have to return it. I had another issue with a different company who charged me for a bill 4 times, and then just gave me a huge credit. I complained to Chase, and they told me they couldn't do anything, since it was set up for automatic deduction.


How do you pay for this at walmart? I do have a walmart right around the corner. I could also mail a check - but honestly... I feel safer knowing its in there. I'd also rather not support this company - I don't care if it costs me another 2k to refi with a local credit union.

I'm also not going the route of mortgage broker, because that's how I got set up with countrywide 3 years ago...

Also - within the first 60 days it is ILLEGAL for them to charge any type of late fee. Its in the documentation I got from BOA regarding the transfer. If they billed you (which I also read about) you need to call them and complain.

I thought they had to - legally.

I haven't paid one at Walmart, that was someone else. I'm sure though that you just go to customer service and pay it there. They are authorized agents for several companies. If there is a branch local you could probably hand walk your payment there, not sure though. I personally wouldn't fall for their scheme of charging money for online bill pay. Online bill pay is suppose to be a courtesy, not have a charge attached to it. It makes it easier for both parties so they are way wrong on many levels.

Good luck OP.

Yeap my mother in law had an auto deduction for her carpayment from the local bank. They "accidently" charged it three times and would not return the money. They said the other three went to principal and she would still have to pay the very next month.

Even if it was still due on the 9th - I don't have an acct # yet for my new account from Green Tree LL, so I'd have no way to pay it.

Technically, your mortgage spells out the payment to be made and the fee's that can be charged. As long as you haven't been late on a payment you could challenge this fee.

It's just another way for banks to scam customers. 12 bucks a month times 360 months (for a 30 year mortgage) comes out to 4200 dollars - just for the priviledge of paying them their money.

how exactly would you challenge it? its one thing to say it - its another to do it. sort of like the whole "produce the note" theory. I'd consider that route - but the $ I borrowed is well within my means to repay.

Last Edited by ifSHTF on 09/02/2011 12:47 AM

walmart is a servicing agent for them? where in walmart do you pay? ive always paid at local branch / online. i still rather go with a credit union.

Ironically - im fairly positive my original loan doc is gone because it was in the MERS system... so I'm probably a good candidate for produce the note.

Last Edited by ifSHTF on 09/02/2011 01:01 AM

A lot of smaller banks and credit unions have gotten out of the mortgage business altogether right now, too, so the larger ones may be your only optioin. I've had the same problem trying to refi one of mine. I owe $33K on it, but the rate is 5.25%. I wanted to re-fi at $50K and pay off a Heloc on another property and do some improvements to the mortgaged property (carpet, windows, paint, light fixtures). Nobody was really interested and the closing costs would have been higher than the interest savings anyway since the property only has 5 more years left on the note.

One solution would be to take out a larger loan - whatever the banks minimum is - and they will issue you a check at closing. Turn around and pay it back on the mortgage. Granted your monthly payments will be higher, but in the end, you will pay it off a lot sooner then the current loan. Depending on what your current interest rate is, the payments may not be that much higher. I don't know.

I know when mine got transferred, there was a 2 month grace period - not that you didn't make a payment for 2 months, but that you could make them to the old mortgage company and they old mortgage company had to accept them. I've had several mortgages sold and one that was sold multiple times (first to CountryWide and then to BofA) and don't remember the due dates changing on any of them. Your original loan docs should have a payment due date and any new mortgage company is not allowed to change the terms of your loan. I'm guessing they probably are in their right to charge fees if they want for online payments because that wasn't really a part of your loan terms and anything not in the loan terms is subject to change. But, I do believe payment due dates are in those terms and can not be changed.

I stopped all auto payments after the water company drafted $600 one month and their response was "Ooops, our mistake. We misread the meter. Good news! You'll have a credit balance for about 18 months." Ummm, like hell I will. Only reason I got my money back from them was because I moved to another utility district. Still took them several months to refund the credit.

there's still 27 years on mine and the rate is 6.875 so im fairly certain i could get it dropped. i barely have enough in writeoffs as it is, so dropping my rate would probably kill my chances at itemizing my taxes. lol.

Green Tree is a third party debt collector and they are the bottom of the barrel. My second was sold to them from BOA and I was never late either. They bugged me on the first of every month. I got back at them by completely ignoring them and have not paid since haha. Best part is they buy the debt for pennies on the dollar so your "loan" which was paid off the day you signed the note is now owned by a "debt collector" It's possibly the biggest scam EVER! They even sent out a "collector" who put a note on my door! Screw you GT you won't get a dime unless I settle for pennies on the dollar as well! Good credit is a scam, I had high 700's and the scam banks would not even give me a car loan so I just quit paying everything and will be debt free! is it moral? Hell yes, is it moral for these crooks to use fraud to make us slaves for 30 frickin years! I could go on an on

Re #2 - yes, you have the debt BUT are you paying the correct debt owner. It is well within your right to have Green Tree to prove to you that they own your debt, there is NOTHING morally compromising to ask the person/group that you are paying to prove you are paying to the correct debt holder.

Re #1 - asking for proof of debt ownership and proper loan documentation will not impact your credit as long as you continue to pay.