Short Sale Superstars

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Green Tree / Ditech

All about Green Tree short sales.

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Latest Activity: 35 minutes ago

Green Tree Short Sale Information

 

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Website: http://www.gtservicing.com/

New email format for GreenTree Servicing

FirstName.Initial.LastName@GreenTreeCreditSolutions.com

Ditech Short Sale Package

Short Sale Dept.  1-877-816-9125 option 2.

Recovery Dept.    800-643-0202

Direct SS FAX for Authorizations and packages.Fax is 877-612-2422

 

Short Sale Fax 1-877-612-2422 or 1-866-870-9919.

Alternate Fax 1-877-612-2422


Alternate Number 1-800-474-3918 - Short Sales

Greentree Short Sale Package.pdf 3-27-13

ESCALATION: CORPORATE COMPLIANCE DEPT.  The office number is 800-839-9188 and the fax number is 866-210-6192. 

Discussion Forum

FNMA/Ditech counter offer too high

Started by Jacqueline Gonzalez. Last reply by London Cox 35 minutes ago. 4 Replies

The present buyer is backing out due to too high counter offer. The house was listed at $181k and is now at $134,500 after 5 months on the market and no offers. Needs extensive work due to deferred…Continue

Short sale after the association foreclosed on the property.

Started by Russ Trinidad. Last reply by Russ Trinidad Jun 5, 2015. 3 Replies

Does anyone know if this is possible? The property is a townhouse in Hawaii. The association foreclosed on nonpayment of maintenance fees. It’s a fannie mae owned loan and serviced by green tree.…Continue

Retired SS seller moving out of state, can he purchase immediately once relocated

Started by Napua Lucas. Last reply by Brian Avery Apr 14, 2015. 1 Reply

Retired Short Sale seller is moving across the country, has a Green Tree first loan.  Will not be late on payments but has to sell below loan amount.  Had refinanced about 5 years ago so got his…Continue

Green Tree Short sale package

Started by Christina Waymreen Feb 3, 2015. 0 Replies

Is the Green Tree Short Sale Package you have on this site up-to-date?Continue

Comment Wall

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Comment by Luther Fisher on August 22, 2016 at 7:10pm

one last one on this one ugh....

so I figured out that my seller's gross income shows that they barely make enough, but the net income -- take home pay -- shows a negative cash flow. on the expenses section, should I include the taxes/fica etc to fix this?

thanks

Comment by Jake Small on August 17, 2016 at 10:40pm

Luther/Fred - with an FHA short sale, income does matter. Escalating it with the servicer/FHA will do nothing but waste a lot of your time. What you need is to contact the HUD dept that can issue you certain types of assistance with dealing with the servicer and FHA's unwillingness to accept the deal based on a number of factors. However, if your client is making enough money for them to deny the short sale, it should be sufficient enough for a loan modification and she could probably apply for a principal reduction loan mod that will lower her payments, lower the total balance, and new laws will protect her from having a trial period turn into a sudden foreclosure. Give me a call if you'd like some advice or assistance; 631-463-6025,

- Jake Small

Comment by Luther Fisher on August 17, 2016 at 7:03pm

Can you use the attached ditech short sale forms for 1st morgages held by Ditech, I looked at the forms and they appear to be for 2nd mortgages. 

Thanks!

Comment by Luther Fisher on August 8, 2016 at 9:03pm

Wondering if there is anything else that can be done on this deal. We were declined because of the borrower's income on an FHA short sale. Should I try and escalate with FHA? 

Comment by Luther Fisher on August 3, 2016 at 2:45pm

well she isn't divorced, found that out today. I thought she was. she's only separated, and there was an order to give her the house. divorce is pending but won't be final for a while. 

Comment by Fred Bauscus on August 3, 2016 at 2:13pm

Luther, a divorce is a sufficient reason for a short sale, regardless of income.  Has that fact been included with the hardship letter and a copy of the decree submitted?

Comment by Luther Fisher on August 3, 2016 at 6:36am

She makes a rather high income but the house is too far behind to catch up (2 years). She was already denied for a modification. 

Comment by Allan Robinson on August 3, 2016 at 1:27am

Hi Luther.  It's me again, LOL.  The Deficit Income Test or DIT is used on all FHA short sales.  You take the total take home pay of the borrower and compare that to their monthly household expenses. If they have negative income, i.e. monthly expenses exceed take home pay, the lender will approve the short sale. 

My experience is that homeowners are in foreclosure for a reason.  When filling out a financial statement for the borrower(s):

1. you only have to list income for everyone on the loan ONLY. If the wife is not on the loan, you're only required to show income of the husband.

2. borrowers drastically underestimate their monthly expenses and they flat out forget things.  You'll have to wade through their bank statements and do your own tally.  I had to do that on a short sale i just took and I found an extra $1,700 in expenses.

Good Luck!

Comment by Luther Fisher on August 2, 2016 at 1:07pm

Update on my short sale case: So we were declined again. This time they said that the borrower's income is too high to justify a short sale.

Comment by Brett Goldsmith on July 27, 2016 at 11:16am

@luther speak to a manager and escalate to Fannie Mae if it i s FNMA backed through homepath.

 

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