Mortgage is being transferred to what appears to be a shady company.

[Kevinicus]

I got a letter from Bank of America today (who I hate) informing me my mortgage was being transferred to Green Tree Servicing LLC. I did a little research on them and all I found was wall to wall nightmare stories. 100% without fail people complaining about them, their practices, and their service. Not one single comment from someone saying their experience was even "okay."

I'm a bit concerned I'm going to have real issues, and may even contemplate refinancing (I could probably get a lower rate anyway). Has anyone had any experience with this company?

 

[tupperware]

No but if you can't find much positive and almost everything you read is negative, you better do something about it.

 

[jubal]

I got a letter from Bank of America today (who I hate) informing me my mortgage was being transferred to Green Tree Servicing LLC. I did a little research on them and all I found was wall to wall nightmare stories. 100% without fail people complaining about them, their practices, and their service. Not one single comment from someone saying their experience was even "okay."

I'm a bit concerned I'm going to have real issues, and may even contemplate refinancing (I could probably get a lower rate anyway). Has anyone had any experience with this company?

Don't hook up with Vanderbilt mortgage.
Couldn't refinance,reverse mortgage,finally paid them off and paid cash for my present home because of my experience with those kind of co.s
So far five months of tranquility.

 

[TwoCentPlain]

Make sure you do everything right on your part. Make your payment early if you can and verify that they received it. Be proactive not reactive.

I haven't dealt with this company at all. Just my .02 concerning something as important as a mortgage.

 

[burmafrd]

I had trouble with Vanderbilt as well when I paid off a mortage to them; they lost paperwork and basically made the process last about twice as long as it should have.

 

[Kevinicus]

Make sure you do everything right on your part. Make your payment early if you can and verify that they received it. Be proactive not reactive.

I haven't dealt with this company at all. Just my .02 concerning something as important as a mortgage.

That I would do if I could, unfortunately the payment is due on Nov. 1, the same day they take over the mortgage, and I won't be allowed to make a payment until they take it over, and they said even if I make the payment on the 1st, they won't get it until the 4th, and they won't post it til the 18th. If I send a physical check it will take them even longer apparently. This is what they've told me when I called. They assured me the payment would automatically be predated so it's not considered late, but from everything I've read, I don't trust them.

 

[CowboyWay]

Set up an online bill pay system with them. You click your mouse, you and your bank have record of payment. No snailmail to deal with, no "lost in the mail" checks, or anything like that.

You do this and you have nothing to worry about.
Refinancing will do you no good, chances are that bank will just sell the note to someone else in time.

 

[Kevinicus]

Set up an online bill pay system with them. You click your mouse, you and your bank have record of payment. No snailmail to deal with, no "lost in the mail" checks, or anything like that.

You do this and you have nothing to worry about.
Refinancing will do you no good, chances are that bank will just sell the note to someone else in time.

Everything I mentioned was using an automated payment system through my bank. And while there would be a record, from what I've read that doesn't appear to matter much to them. Don't really want to have to deal with any lawyer/court fees because they don't handle their business right.

 

[AbeBeta]

Are you going to find "positive" reviews of any loan company? You certainly aren't going to bother to go online with things like "I sent my electronic payment and it was credited within 24 hours!" I doubt you can find a company who buys mortgages that people review positively.

 

[YosemiteSam]

Interest rates are extremely low right now. Refinance! Over the last two years, I've refinanced once and just got my current mortgage company to trim their rate. I've got my mortgage's interest rate down to 3.3% I've trimmed close to $1,000 a month in interest off my monthly payment.

 

[CanadianCowboysFan]

Why worry, as long as you make your payment (and your own bank records will show it went through), you have nothing to worry about.

The other poster is right too, no one will go online to say good things about their mortgage company. People usually only go online to complain.