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I am doing the same thing today. Sale price $455,000. They told me whey want 5% of the sale price. $22,750. 1st is offering $5000 max. Started this whole thing on July 30th. First approval came in on 12/8. Took four months. Just before 1st approval, GMAC sent the loan to Greentree. Had to resubmit SS package to them, did that on 12/11. finally they told me about the 5%. I had submitted HUD-1 with $3000, keeping the $5000 number for negotiation.
1st says with manager approval they might do $6000 or 7000, but no way $22,750.
My plan is to submit the HUD with the $5000 and see if they will come down at all. If they do, maybe the buyer will chip in.
I'm in the same position. The first is with Indymac. The second used to also be Indymac, but now is Greentree. As both of you stated, they are requesting 5% of the $380,000 sales price - or $19K. The first lienholder will only allow 10% of the balance, or $11,600 so I've got a gap. Reaching someone at Greentree to find out whether they'll take 10% is a nightmare. Anyone have much luck reaching them? The negotiator's voicemail is always full and she never answers her phone... Thanks!
Green Tree is right up their with HSBC and Bank of America. They are horriable to deal with and there is no consistancy with proto call. I have one going on now were Indy Mac is the first (they are great to work with) and they were the second but sold it to Green Tree right when I submitted my offer. So I sent my SS Package to Green Tree. I was assigned to two negotiator's, who did not communicate too each other and each requesting differsnt docs. After insisting that I work with only one I was assigned to a totaly new one. (That makes alot of sense). This one had said if you can get the first to pay us 10% of their balanced owed ($3000.00) then she would be able to get it approved. I did that and sent them the approval letter from Indy Mac giving them their 10%. I am 45 days down by now with Green tree in the process. I submitted the SS Package at the beginning of October. Left message after message for the negotiator and finaly she called me in the middle of November and needed the Hud and approval letter from Indy Mac and was going to submitt for approval. I sent these back in October but I did not argue with her and sent them again that day. Had to contact Indy Mac to get my first extension on their approval. They did! Called through November into December leaving message after message. Finaly I called back and optioned to speak to a live representative. I was able to speak to someone in the Loss mitigation Department, they were able to review the notes and said it is up for review and should have an answer in three days call back then. Nothing, message after message, finally on 12/29/2009 the negotiator called, needed updated back statements, and that was all they needed, sent that day. 1/4/2010 the loan was transferred from loss mitigation to Short Sale recovery, and I need to start all over again, And I have left mesages for the supervisor (Chris). Of course no response at all. And now I have to get 5% of the sale price approved from Indy Mac for Green Tree or they will not even look at it, so I have to re-negotiate the whole deal with Indy Mac and ask for my second extension. Buyer is walking! This is the last one for me with this company. Called yesterday, the negotiators's mail box was full and could not except any messages. Brillant!!
Yikes, sounds like we are all living the same nightmare with GreenTree. I have been calling and calling and leaving messages (when the voicemail boxes aren't full.. rarely) both the negotiator and the supervisor, Chris Poorten. But they don't call back. I've also emailed but no email back. I've got the same scenario -- Indymac on the first loan, GreenTree on the second (which was originally an IndyMac loan). Indymac won't allow more than 10% of the loan balance plus $3,000 from agent commissions or buyers -- a total of $14623. But GreenTree had approved 5% of loan balance - or $19,000. So I've got a gap that IndyMac won't allow anyone to pay and GreenTree won't overlook. And when I finally did talk to the negotiator, Pwella, yesterday afternoon she said she can't submit the package like that for management to look at. So basically they would rather let the property go to foreclosure and get nothing instead of getting more than 10% of the balance. That doesn't make sense! Finally in desperation, yesterday I sent a fax to the GreenTree president. I don't really know what else to do. Any ideas?
Michael Mooney said:Green Tree is right up their with HSBC and Bank of America. They are horriable to deal with and there is no consistancy with proto call. I have one going on now were Indy Mac is the first (they are great to work with) and they were the second but sold it to Green Tree right when I submitted my offer. So I sent my SS Package to Green Tree. I was assigned to two negotiator's, who did not communicate too each other and each requesting differsnt docs. After insisting that I work with only one I was assigned to a totaly new one. (That makes alot of sense). This one had said if you can get the first to pay us 10% of their balanced owed ($3000.00) then she would be able to get it approved. I did that and sent them the approval letter from Indy Mac giving them their 10%. I am 45 days down by now with Green tree in the process. I submitted the SS Package at the beginning of October. Left message after message for the negotiator and finaly she called me in the middle of November and needed the Hud and approval letter from Indy Mac and was going to submitt for approval. I sent these back in October but I did not argue with her and sent them again that day. Had to contact Indy Mac to get my first extension on their approval. They did! Called through November into December leaving message after message. Finaly I called back and optioned to speak to a live representative. I was able to speak to someone in the Loss mitigation Department, they were able to review the notes and said it is up for review and should have an answer in three days call back then. Nothing, message after message, finally on 12/29/2009 the negotiator called, needed updated back statements, and that was all they needed, sent that day. 1/4/2010 the loan was transferred from loss mitigation to Short Sale recovery, and I need to start all over again, And I have left mesages for the supervisor (Chris). Of course no response at all. And now I have to get 5% of the sale price approved from Indy Mac for Green Tree or they will not even look at it, so I have to re-negotiate the whole deal with Indy Mac and ask for my second extension. Buyer is walking! This is the last one for me with this company. Called yesterday, the negotiators's mail box was full and could not except any messages. Brillant!!
Yikes, sounds like we are all living the same nightmare with GreenTree. I have been calling and calling and leaving messages (when the voicemail boxes aren't full.. rarely) both the negotiator and the supervisor, Chris Poorten. But they don't call back. I've also emailed but no email back. I've got the same scenario -- Indymac on the first loan, GreenTree on the second (which was originally an IndyMac loan). Indymac won't allow more than 10% of the loan balance plus $3,000 from agent commissions or buyers -- a total of $14623. But GreenTree had approved 5% of loan balance - or $19,000. So I've got a gap that IndyMac won't allow anyone to pay and GreenTree won't overlook. And when I finally did talk to the negotiator, Pwella, yesterday afternoon she said she can't submit the package like that for management to look at. So basically they would rather let the property go to foreclosure and get nothing instead of getting more than 10% of the balance. That doesn't make sense! Finally in desperation, yesterday I sent a fax to the GreenTree president. I don't really know what else to do. Any ideas?
Michael Mooney said:Green Tree is right up their with HSBC and Bank of America. They are horriable to deal with and there is no consistancy with proto call. I have one going on now were Indy Mac is the first (they are great to work with) and they were the second but sold it to Green Tree right when I submitted my offer. So I sent my SS Package to Green Tree. I was assigned to two negotiator's, who did not communicate too each other and each requesting differsnt docs. After insisting that I work with only one I was assigned to a totaly new one. (That makes alot of sense). This one had said if you can get the first to pay us 10% of their balanced owed ($3000.00) then she would be able to get it approved. I did that and sent them the approval letter from Indy Mac giving them their 10%. I am 45 days down by now with Green tree in the process. I submitted the SS Package at the beginning of October. Left message after message for the negotiator and finaly she called me in the middle of November and needed the Hud and approval letter from Indy Mac and was going to submitt for approval. I sent these back in October but I did not argue with her and sent them again that day. Had to contact Indy Mac to get my first extension on their approval. They did! Called through November into December leaving message after message. Finaly I called back and optioned to speak to a live representative. I was able to speak to someone in the Loss mitigation Department, they were able to review the notes and said it is up for review and should have an answer in three days call back then. Nothing, message after message, finally on 12/29/2009 the negotiator called, needed updated back statements, and that was all they needed, sent that day. 1/4/2010 the loan was transferred from loss mitigation to Short Sale recovery, and I need to start all over again, And I have left mesages for the supervisor (Chris). Of course no response at all. And now I have to get 5% of the sale price approved from Indy Mac for Green Tree or they will not even look at it, so I have to re-negotiate the whole deal with Indy Mac and ask for my second extension. Buyer is walking! This is the last one for me with this company. Called yesterday, the negotiators's mail box was full and could not except any messages. Brillant!!
Any thoughts on what words to Keith Anderson will get any action?
Tracy
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