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GreenTree as 2nd lien holder

Posted by Michael Michetti on October 25, 2011 at 4:01am in Short Sale Discussions

GT is servicing a BOA second.  BOA has the first and has limited them to less than 3k.  GT has approved at 3k and is pushing back about taking less.

 

Has anyone had experience with this with Green Tree and has the outcome been favorable?  I am attempting to get through to a supervisor as we are trying to close ASAP, but no luck yet.

 

Thanks.

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Replies

  • Michael Michetti October 28, 2011 at 6:58am

    I was able to get the processor assigned to me to get the negotiator on it....bull-dogged it through.

     

    no magic formula unfortunately.

  • Michael Michetti October 25, 2011 at 7:08am

    We have been all over them.  I have a supervisor now who seems pretty good. 

    • Jeff Struchen > Michael Michetti October 28, 2011 at 4:55am

      Michael, can you email me the supervisor contact info? I have a file that mirrors yours and could use that information. Thanks  

      Jeff@therealtyteam.com

      • Scott Gregory > Jeff Struchen October 28, 2011 at 5:23am

        They will tell you all sorts of stories over at Green Tree. Make sure you are actually dealing with loss mitigation and not collections, first of all. They like to blurr that line. You might have to give them 10 percent of the balance due, but we have gotten approvals below that mark.

  • Crystal Wilson October 25, 2011 at 6:54am

    Be very careful with Green Tree...they are brutal. They will def want more than 3k for a full release (depends what the balance is) , and make sure if they do take the 3k it isn't just for a lien release...they like to do that :(

    Who are you calling? I have some other numbers if you need them? You have to be very persistant with GT....so keep pesting! LOL

  • Smitty October 25, 2011 at 4:58am

    My experience is they always want more than what they are given and in my personal experience they got it.  I am NO FAN of Greentree.  They are workable only if someone is willing to come to closing with more than what the first offered.

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