Is anyone aware that Green Tree Lending is requiring a Seller to bring their mortgage current before they will consider a short sale? Green Tree is being difficult and has 4 offers in 7 days on the market and will not accept any of them. They are not bad offers either. Anyone have experience with Lending Tree or know someone to talk to there? Thanks. Pat in Charleston, SC
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I have a short sale with Green tree in the 1st position. They declined my first approval because they 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 them 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?
I have closed several short sales with Green Tree lately. The only time I heard anything about this is when they had the 2nd. I was told if the sellers go 3 months delinquent the file will go to collections and the timeline will get much longer.
I have just today negotiated a short payoff with Greentree, and have done several short sale deals with them. In the case you're dealing with, does Greentree hold a first or second position?
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Patricia, I'm having the same issue. The collections agents are holding my file hostage and refusing to forward an offer to loss mitigation. If you get any response, please share with me, I will do likewise.
I have several GT shorts in the works and they have never asked my sellers to make their payments current.