MORGANTOWN -- A bank alleges that a Monongalia County woman failed to make payments on a manufactured home.
Green Tree Servicing, L.L.C., of Delaware alleges that Trisha Rice of
Cassville has failed to make any payments towards the principal of a loan she made with her now-deceased husband since 1994.
Filed on Feb. 27, the suit states that Trisha and Glen entered a security agreement with Security Pacific Housing Services for the purchase of Commodore Cambridge manufactured home.
Security Pacific Housing Services assigned rights of the loan to GreenPoint Credit, L.L.C., who then passed the rights of the loan to Green Tree Servicing.
Glen passed away, and his 0.5 percent interest passed to Trisha.
Filed by Erin P. Dyer of Dyer Law Firm, the suit states that as of Jan. 4, 2006, the interest on the loan was $1,311.01.
Green Tree Servicing claims it notified Rice of the acceleration clause and its effect on Jan. 4, 2006, but has not heard anything from her. As of Jan. 25, 2006, the loan was accelerated to $26,969.02.
However, because of an acceleration clause within the contract, the loan now stands at $26,969.02. In the Jan. 4, 2006, letter to Rice, Green Tree Servicing states: "If you fail to cure the total amount of your default within the cure period described above, then as of 30 days from the postmark of this Notice, the maturity of this contract is automatically accelerated ad the full payment of the contract in the amount of $26,929.02 shall be due."
Green Tree Servicing is seeking a trial by jury to award possession of the manufactured home to be disposed of as it sees fit and a deficiency award to deter Rice from defaulted again.
Monongalia Circuit Court case number: 06-C-132