greentree wont cooperate helppp

I see from forums that Greentree is a nightmare........so here is my nightmare with greentree being the 2nd lien holder. and first mortgage is Fannie mae...

As per incompetent negotiator: seller has two options 1. just do a lien release only, which is still going to keep her liable for the remaining balance and she will still have judgement on her OR she can try to do a full release . If seller does not make voluntary arrangement, we have obtained information that she does work at starbucks we are allowed to garnish her wages in the state of NJ and we can attach a levy to her bank account.

 

Now we currently have a good offer and first lien holder (everhome mtg) is processing the short sale but needs Greentree to approve first!!!!

 

Any suggestions or someone I can escalate this to at Greentree.............also can I report greentree to Fannie Mae????

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Replies to This Discussion

Permalink Reply by ElizabethWeintraub00697006LyonRE on November 16, 2013 at 1:10pm

The problem is Fannie Mae doesn't do the HAFA program, so you can't force Green Tree to release the seller from liability,  unless you live in a state such as California. And Fannie Mae will most likely only allocate $6,000 to Green Tree anyway as a maximum. But Green Tree is a collection agency and is not required to do a short sale much less release a seller from liability if it doesn't have to do it. I've worked with good and bad negotiators at Green Tree, and except for taking up to 90 days in some instances to approve, they aren't that horrible. OK, not talking about the people who make the collection calls and harass.

Permalink Reply by Marilyn D'Angelo on January 23, 2014 at 10:23am

Elizabeth thank you for your feedback.  At this point I received approval from the first lien holder, giving GT $6000. GT wont accept. The loan is $89K , GT wants $12,000 to release lien but not the judgement OR $24K to settle and release lien and judgement and waive deficiency. Seller and I are willing to contribute all together $9000 + $6K from first lien holder = $15,000.  BUT now first lien holder will not approve anyone including me from contributing to the short sale!!!!!

this is totally ridiculous. If this goes into foreclosure then everyone get $00000000.

I dont get it

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