Greenlight sends mailers and we called to receive the deal their mailer promises. They do not honor this mailer. This is fraudulent marketing and false advertising. I will report them to my state's AG. Whatever you do, do not call this company for financing.
Consumer Complaints & Reviews
Greenlight Financial offered to pay me $500 if they could not beat my Good Faith Estimate (GFE) on a mortgage refinance. They asked for the loan terms, GFE, and my private information, but never communicated about the offer nor paid the $500. I contacted them several times since submitting my request, but Michael and his supervisor would not return my calls and they would not respond to my emails. I'm concerned that Greenlight is using this false incentive as a ploy to gain competitive intelligence and personal information from consumers.
Greenlight Financial Services offered to beat my good faith estimate (GFE) or pay me $500. I decided to take them up on the offer, and on December 29th called the number on the flyer. The agent recorded my information, and asked me to send my documentation (GFE, rate lock agreement, and 1003), which I sent on December 30th. Greenlight Financial never contacted me to indicate the status of the offer nor pay me the agreed $500 incentive. I called and emailed on January 2nd, 19th, and 25th. I called and left messages with his supervisor on January 30th and February 6th. On February 6th, I received an email from the same agent refusing to pay the $500 incentive because the rate lock agreement was too old. He falsely claimed that he had communicated status to me on January 6th. On February 7th I filed a claim with the Consumer Financial Protection Bureau and am awaiting their decision. I am concerned that Greenlight Financial is promising incentives that they do not intend to pay, as a means to harvest sensitive information about consumers, and gain competitive intelligence about mortgage rates at the expense of hapless consumers.
Warning to all homeowners, if you are thinking of refinancing and you have these criteria for denial, please stay away from Greenlight Financing because you will only lose $350.00 of appraisal fee which is non-refundable: (1) You have not added square footage in you property (2) You have done total remodeling or renovation in your property (3) You have a few short sales in your area.
A Greenlight Consultant contacted us a number of times in the past offering refinancing since the interest rate had been decreasing, but we weren't ready then. Two weeks ago, the same Loan Consultant contacted us again, so we proceeded with mortgage refinancing. He knew all of the above three criteria in relation to our application because we told him about #2 criterion. Number 1 and 3 criteria are all available through public information. He was constantly communicating with us during the process and winning our trust. He set up an Appraisal Company that Greenlight use to contact us. The Appraisal Agent was overly pleased and complimenting of our home and was very positive about our condo that it seemed so promising.
To our dismay, we were declined due to all of the criteria I mentioned above for which they were fully aware of before the appraisal. If they knew these, then why set up an appraisal? Greenlight misled us and to make matters worse, we were out $350.00. I smell a scam here and I wish I make $350.00 per thirty minutes.
We lost $350.00 because the Greenlight Loan Consultant was not upfront with us and failed to inform us that our application can be turned down due to the fact that we are under the three criteria I mentioned above. If only they were honest and had integrity, I wouldn't have to write this complaint to warn the public. With the downturn of the economy, we can't afford to lose $350.00 just like that with possible intent to defraud. I'm a firm believer of the saying, "What goes around comes around."
If Green Tree sends you a letter claiming that they will beat any offer's interest rate with no closing costs or pay $500 cash, do not fall for it! I got a Good Faith Estimate (GFE) from a lender as per their instructions. I also informed them of my rate lock with another lender. Green Tree refused to even quote an interest rate, and only offered to reduce closing costs by $600. As soon as I asked for an interest rate beating the competition, they would not return calls or emails for a week. A week later, they stated in an email that the representative I was dealing with was inexplicably unavailable for many days. They then stated that I needed to have a GFE dated within 24 hours of their offer for them to be liable for $500. Well they never gave me an offer for me to beat within 24 hours. So, how have I failed to do what is requested of me? I gave them a GFE and they would not quote even within a week of the GFE. How convenient for them.
I bought this house in 2001 when I was under pressure to move. I wish I had known someone who had dealt with Conseco, who was the originator of my loan. Now it is Green Tree. They originate loans to people as myself at outrages interest rates. The home value will never equal the interest paid and they know that. They are thieves preying on people in less than perfect finanacial situations. In other words they give out loans to people knowing they will eventually default and yet still make their money. Don't get their insurance. They'll overcharge you for that as well.
They use to call my house a [many] times a day when I was behind, but I sent them a letter and told them to stop harassing me and legally, they had too, and did. They never call my house or anyone elses anymore. The park I live is losing homes everyday from people abandoning the homes they can't and never could afford. Guess who financed them?
We assumed a loan on land and trailer from Greentree in 1996. They called constantly about one thing or another which we could prove we paid. In 2001, we moved from Panama City, Florida where the land and trailer were. We owner financed property, we stayed on the paperwork. Thought everything was good until Conseco called and let us know these people were $10,000.00 behind in payments. The payment coupons were sent to people buying the property. We could not pay it. In the meantime, Greentree got this mess back. They continue to harass my husband as he runs down the road and he drives a truck. They sold the property, but want the full loan amount and use threats like we will just take the house you have now.
It is on our credit record as a write off, not foreclosure.
We had been behind on payments several times and call them to set up payments. My wife was going through chemo treatments and they told us that this was a lie and that was just a way for us to get out of making payments. We would do check-by-phone and every time the charge for the check by phone was different. They were to only take out 1 payment but when we bounce a check at our bank it was because they took out 2 payments for the following month that was due that day.
Someone from Greentree told our 12 yr old son that they wanted to make sure that we had removed all our things from the house, that we need to call them back when we got home and that they were coming that afternoon to get his home. All this because we were not even 30 days behind.
They have continued to call our place of work several time a day telling the secretary that they needed our payment today and wanted our cell phone number. We have also requested a payment history for what we have paid on this house for the last 10 yrs because our balance hasn't changed in 10 yrs. But they sent us our mo. statement that said we had only paid 481.79 on the principle for the year.
As a real estate appraiser I did an appraisal for Greenlight Mortgage, Inc on April 28, 2005. On May 6, 2005 Mrs. Zlamalova the President of Greenlight Mortgage, Inc faxed me a letter on stating she promised to pay me full payment for the appraisal being that the owner of the property did not pay the appraisal fee. I attempted to collect the payment from Greenlight Mortgage, Inc for several weeks. Mrs. Zlamalova never returned my repeated phone calls for payment.
On August 05, 2005 I sent a fax to Mrs. Zlamalova asking her to please send payment stating I would take further action by placing a complaint on www.consumeraffairs.com. On August 10, 2005 I received a check for full payment. On May 12, 2005 I attempted to cash the check at Bank of America, where the account is held, and they would not cash it because she made the check out to my incorrect name.
I requested on August 12, 2005 from Mrs. Zlamalova that the check be made out to my correct name of Brooke Davis. At first I believe she was sorry for the error and would correct the oversight. Her professionalism was in question when she so rudely stated to me that www.consumeraffairs.com was not the correct website that I need to take further action. To date as of August 23, 2005 I have not received a check written to the correct name. My concern is that it may take another 3 months to receive the payment if I don’t take further action.
We applied for a refinance loan with Greenlight. I had requested for weeks for them to provide us with a written good-faith estimate which we finally got 3 days prior to closing. On the day of the closing they had increased the estimate by about $2300.00. At this point i had no choice but to sign this loan due to the fact that if this was not done by the end of the month my home would have gone into foreclosure, which their loan officer knew and I think he took advantage of this to up their fees.
I have been trying since oct 18 2004 to get a refund. I just wonder how many other customers they have taken advantage using this scheme.
