GreenPoint Mortgage review: PREDATORY LENDING 10

Changing payment dates and then charging late payment charges. There is no grace period given before they gave 15 days grace period now they just charge late charges.

In May of this year (2008) I came down with an MS related disease. I can’t work due to loss of mobility, extreme nerve pain and heavy medications. I have filed for disability. I went through the rigorous steps to reduce my mortgage or lower my rate with Greenpoint. After extensive documentation - tax return, income to loss statements - bank statements - and personal hardship letter to Georgia McBride in "Customer Care", I received a one page letter denying any help with my mortgage. In addition, Ms McBride suggested that if I were to consider selling my property in the future "the investor of your loan may consider your loan a candidate for short sale.” In other words, When you default…we will buy it on the cheap.

This company is acting just inside the legal boundaries but well outside and beyond the moral and ethical limits of decency and air dealing.

Anyone one have ideas on how to respond other than to a Senator, Legislator, or 60-Minutes? I am starting that process today.

By the way...I am current with my mortgage...much to the displeasure of Greenpoint

These people are blood sucking #@! they have the ability to help and choose not too. They would make more money on their homes by not foreclosing, and working with their struggling borrowers. They do not respond in any shape or form, they have an automated phone system. With the market as it is in MI they will never recoup the money they lent, why not make adjustments, with their borrowers, let them keep their homes, and get their money back from the government that is going to bail them out? It would be great if there was an actual Bill that would help the borrowers, as it stands, very few people will get aid or relief from Bush's Bill, it is nothing more than PR. It helps no one, and gives alot of people false hope.

I totally agree! I was in a short sale with Greenpoint, had an approved buyer, had the appraisal in 2 months ago and was waiting on a counter from gp, but instead they strung me along instead and sold the house saying that they never received paperwork! Ciara Scott NEVER returned calls and then said never did the appraisal until I gave them the names of the company and people who THEY sent out! I am fighting all the WAY! They would rather have a foreclosure on my record than sell to a qualified buyer! I AM FIGHTING TIL THE END! I AM GETTING AN AUDIT OF MY LOAN DOCS NOW! FIRST STEP BEFORE THE LAWSUIT!

Our experience has been the same! We started talking to Greenpoint in November because we knew my husband's job was in jeopardy. Rep told us they didn't have any programs, basically we'd have to miss at least 90 days before they could "help" us. We continued making payments until May, and I kept calling to find out if things had changed. One rep I talked to in February said we needed to fill out a loan workout app (even though we hadn't missed any payments yet!). We were told we needed to complete it if we were unable to make payments. Then in April, another rep asked why we hadn't sent it in yet. I said we hadn't missed payments.

Finally in June we were unable to make our payments and mailed our loan workout. When they called, I gave them the same information I had been giving them all along. Finally stopped taking calls. We received a letter from them in late July saying we were on the verge of being foreclosed and to call. So I did and spoke with a Mrs. Stevens, who proceeded to harangue me on the phone. I asked her what happened to our loan workout. She said it didn't look like it had been processed yet but our loan was being reviewed for foreclosure and the only way we could prevent it was to come up with the past due amount of about $5000. I said if I had $5000, I would be behind on payments, would I? She then started asking me if we wanted to keep the house (yes) and the only way we could do it was to pay the past due amount! No, she couldn't tell me if our loan workout had been reviewed. No, there was NO other number to call. But I had to pay up or else!
I even called Hope Now, the rep was perplexed when I told him what Mrs. Stevens told me on the phone. He told me to call another number which was Hope Now's direct line to Greenpoint. Turns out it was the same number I called!
I was so stressed and depressed after the call with Mrs. Stevens. I'm ready to give up and walk away. If they don't want to negotiate with their borrowers, I don't know that I want to keep this house. These guys are the most unpleasant people to deal with. Everyone has told us lenders are more than willing to negotiate some kind of workout, but apparently they don't know about Greenpoint.

Just glad to know I am not the only one with problems with this company. A year ago I tried to negotiate with them and they would not do anything. Now they have another property (mine) as I have had to walk away. They still have not foreclosed but I left the property in beautiful condition and my realtor is watching over it. We do hope it sells on a short sale but Greenpoint has been rude, harrassing, and unbearable to work with. Sad this had to happen by I know I am not the only one. Thank you.

greenpoint has gotten too overpriced and a lot of old timers are very hurt cause all they know is greenpoint and they can not offord it so cut it out and lets let the old timers back its not right what they are doing

Same here! Those stories are all ones I can completely relate with. I submitted a full hardship package including more info than they requested regarding my current situation. Up until now (Nov. 2008) I have had no opportunity to talk with Greenpoint except for a handful due to their lack of customer servicing. You call them and it just goes to a voicemail to call back tomorrow. When they originally called me back in the beginning of this mess I would receive only a phone message requesting that I contact them and a phone number. Never a live person even when I called back.

On a rare conversation they encouraged me to sell my home without even the prospect of a work out. I was shocked. The shock has subsided now and I know I will be moving. Hard pill to swallow though. Per their request I completed an extensive profile on my situation including copies of bank statements (6 mos.), tax returns, income and expense statement, hardship letter and a financial statement. I included a suggested work out plan that I could afford based on the information provided. Note: My mortgage payment was paid on time every month for the first three years of the loan and six months after the payment increased by $1, 800 to over $4, 000/mo. with no escrow for taxes and insurance.

After all the work I put into the package I mailed to them registered mail I received a one page "form" letter about a week later stating that any work out plan was denied based on the following reasons:

My expenses exceeded my income. Duh. My work out plan explains in detail how to make ends meet in order to pay my mortgage on time and stay in my home.

I'm going to send them another package this week along with letters to my district congressman, governor, senator and whoever else will listen to my lack of attention regarding MY HOME THAT I REMODELED AND MADE BEAUTIFUL, TENDED TO WITH ALL MY HEART NOW FOR SEVEN YEARS.

I'm a real estate broker going through really tough times in San Bernardino County, CA. But business is picking up and I'm pursuing subsidized income as well. I must be heard and quickly if I'm in hope of saving my beloved home.

Thank you to all of you that made me realize that I'm not alone.

Here is a great article that makes many references to Greenpoint Mortgage's lending practices that I think you will all be interested in.

http://www.businessweek.com/magazine/content/08_47/b4109070638235_page_2.htm

Just copy and paste it into your browser. Comes directly from the latest issue (November 15, 2008 of BusinessWeek magazine. Comments?

Reading each one of your experiences is like writing my own. i relate to each one of you.
i'm going thrue the leave a message story for over 2 weeks now. A month ago i recieve a notice of trusty sale for the 20 of nov. i called them and asked them what happened with the loan modification they were doing on me?, the story with you all. "we did not recieve it".
A week before they posted the trusty sale notice, a rep told me that i had until the last friday of oct. to come up with 7, 000 dollars to do a repayment or loan modification. i called a couple of days before and nobody at greenpoint was able to take the agreed payment. tried the next day same thing.

but they did move forward with the trusty sale.

in the begining of nov. i started recording every single call i made to greenpoint. they say they postponed the trusty sale to january 08, but after reading all of your stories i feel more certain that they are walking me into foreclosure.

I have all recordings in case some of you wanna move foreward against them.