To PAY or NOT TO PAY?
I have a short sale with Green tree in the 1st position. They declined my first approval because my clients, the sellers, were current on their mortgage after they told both the seller and I that it did not need to be current. The negotiator told me they had to be 31 days delinquent to be considered for the short sale. They have now missed 1 payment are 20 days late and the package was sent to green tree again. Now they are saying that my client, the seller, needs to make his payment or they will foreclose! I don't know what to do... If they make a payment will it be declined again? Games and the banking industry don't mix. Just sad. Any suggestions?
Replies to This Discussion
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Permalink Reply by Joanie Cubias on
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Stacy, I'm curious what your client decided to do. I have clients in the same situation. They were told they did not have to be delinquent to get the approval, so they stretched and stayed current. Greentree flat out rejected the offer - no counter or anything. They then convinced my clients to stay current and try a loan mod. Well, they were just declined a mod as well. So now they have officially stopped paying and we will try again in 45 days. Greentree was pretty ruthless in their phone calls to my clients. It was borderline harassment with the frequency of the phone calls and the repeated threats to make their payments "or else".
What did your client decide to do?
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Permalink Reply by Stacy Gonzalez on
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I explained to my client that his file is in with the loss mitigation depatrment. The Credit department is the one calling and that they will continue to get calls up to 120 days after closing. They did not make the payment. The first negotiator told me I only had to wait 31 days after being delinquent to resubmit per Fannie mae. The file is scheduled to be reviewed tomorrow. Fingers crossed.
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Permalink Reply by Keji Ogunleye on
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I was in the same situation.. seller was current but was rejected though she does not work. I was told they have to be late before they can consider short sale.. and so the seller decided that she cannot longer pay and they started calling them with threats of foreclosure..they are complete idiots.. when you cannot foreclosed in MD for up to 1year!!
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Permalink Reply by Maria Strong on
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Read my most recent post. My sellers were denied the first time. They stopped paying and were approved. We also had a short sale negotiator from a law firm the second time around. I don't if that made a difference or not, but it was approved the second time. That was the first time I had a short sale denied. http://shortsalesuperstars.com/group/greentreeservicing/forum/topic...
The law firm is in Maryland. Let me know if you want their information.
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