CONSECO I BELIEVE MADE A MORTGAGE LOAN IN 102001 FOR THE PURCHASE OF A MOBILE HOME THAT VIOLATES THE STATES PREDITORY LENDING LAWS, EXCESSIVE POINTS WERE CHARGED IN THE LOAN AND THERE WAS NO DOWNPAYMENT MADE HOWEVER THE DEALER SHOWED THAT THERE WAS. DEALER PAID OFF A LOAN TO FORRD CREDIT IN EXCHANGE FOR THE MOTOR VEHICLE ON THE LOAN AND SHOWED COLLATERAL VALUE AS DOWN PAYMENT.

THE INTREST RATE WAS SET AT 12.5 AND THE LATE FEES ON THE LOAN AS STATED ON THE CONTRACT ARE NOT WHAT IS BEING CHARGED. PAYMENTS SENT TO BE APPLIED AS EXTRA PRINCIPLE ARE CREDITED TO INTREST AT THE COMPANIES DISCRETION. WE INTIALLY WERE CHARGED SOMEWHERE AROUND A 1000.00 FOR THE FIRST YEARS INSURANCE ON THE HOME BUT AFTER A FEW MONTHS WE CANCELED THE INSURANCE AND CHANGED TO ALLSTATE A PORTION OF THE AMOUNT WAS CREDITED TO INTREST OF THE CREDIT AMOUNT. THE ORIGINAL LOAN AMOUNT WAS 74,000 ON A 50,000 HOME AND THE CURRENT BALANCE ON THE LOAN IS JUST UNDER 76,000 IT WAS JUST UNDER 79,000 EARLIER THIS YEAR. THE COMPANY STATES THAT UNPAID INTREST DUE TO LATE PAYMENTS HAVE BEEN ADDED BACK INTO THE LOAN BALANCE SO THEY ARE CHARGING INTREST ON INTREST.