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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.
Shannon, I have not resolved my dilemma with Green Tree yet. The first lender Aurora postponed the Short Sale, now we have 2 month to get it done. Do you have the contact information of the executive office? I will really appreciate your help. Thank you for all your comments
I think we should start calling Washington. I have the same problem, Indymac and a second with Green Tree. They always ask for 5% of the sales price which is absolutely ridiculous on a short sale. But I would like someone to investigage why Indymac is selling to Green Tree.... This is a game to make more money to the original bank, I bet.
Tracy Gibson said:Any thoughts on what words to Keith Anderson will get any action?
Tracy
I have a listing where Green Tree is the 2nd and then I have a buyer and the poor title officer is dealing with them on their second. I just forwarded this information! Thanks so much! I will pass those names and phone numbers around to realtors out here! They have been a nightmare to deal with and are very rude on the phone. If this doesn't work I think we should go to their local news and let them know how horrible this company is to deal with. They need to realize that there are human beings on the other end of their numbers. Stay strong and hang in there!
Our GLVAR president was in Washington this week. I sent him a email just at the right time! Hopefully he let them know what's really going on. Short sale approvals are slowing down in Las Vegas since they extended the tax credit. We have 16,000 homes under contract and almost 12,0000 are short sale. Strange coincidence! We had less than 100 approved in the last 90 days compared to 600 the previous 90 days....Talk about frustrated....
Maria Evans said:I think we should start calling Washington. I have the same problem, Indymac and a second with Green Tree. They always ask for 5% of the sales price which is absolutely ridiculous on a short sale. But I would like someone to investigage why Indymac is selling to Green Tree.... This is a game to make more money to the original bank, I bet.
Tracy Gibson said:Any thoughts on what words to Keith Anderson will get any action?
Tracy
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