Greentree Financial Hold Seller Hostage

I have a seller with a Wells Fargo 1st and Greentree is the second.  Got Wells to give Greentree $6K on a short sale payoff.  Wells is taking a hit and Greentree will get nothing if the property goes to foreclosure.  Greentree says they don't care,they want the full $102 owed.  I contacted their parent companies board of directors and finally got a call back from Greentree.

Anyone have contact info at Greentree for someone that cares?

Bill

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Permalink Reply by Joseph Alfe on May 15, 2012 at 6:18am

A line of credit DOES NOT get wiped out in a foreclosure, so no, they WILL get something.  They will lose their claim to the property, but they retain their collection rights.

Permalink Reply by Barbara D on May 15, 2012 at 12:20pm

In Nevada they can only collect for 6 months after the sale date...we usually get them to concede but not before they do the ugly harrassing and bill collecting routine. 

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