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  • Edward Codelia June 8, 2010 at 10:23am
    OK, so I called in to get the name of a Regional Manager. I was put on hold, lectured about delinquent payments and told Greentree does not have to approve a short sale because the homeowner is delinquent.

    I was given the name, Gerald Jeffcoat, no phone number or contact, the customer service rep, Erin would not give it to me or her last name. Erin connected me to Jeffcoats voice mail, it will not accept messages.......

    OK, so does anyone have Jeffcoats contact information?

    2ndly, I received a message from Collector Nick about my short sale package being incomplete and that once I call in and he tells me what they need, he will forward the package to LOSS MITIGATION!

    Does Greentree have loss mitigation? Anyone have contact for that department?

    TIA for any help...
  • Kim Bigley June 8, 2010 at 9:38am
    How Did Green Tree finally resolve or have you? I have a contract with them as a 2nd and we have been 6 weeks trying to get it approved - they say it is in the process of Final with Sr. Mgmt signing off. Who know!!

    Bob Sluys said:
    Supposedly, First Horizon (Tennessee) transfered/sold this 2nd to them on Oct 1. They have yet to find it in their system. My sale is gonna come apart-for the 4th time--15 months into it!!! I call them and they can't find it-I give them the loan number, owner SS#-but nothing helps . . .

    Wendy Rulnick said:
    I am working with them as a first !
  • Cindy Curd April 22, 2010 at 11:53am
    They will take less. What are the details? How much is the total offer? How much is the Greentree lien?

    Shelly Mayol said:
    Negotiating a 2nd loan with Greentree. Was told to change the HUD-1 to reflect 5% of the sales price as their fee to JUST REVIEW the account and proceed further. Are these newer tactics?

    Emily S. Knell said:
    They demand 5% of the purchase price be paid to them. They won't budge for less. They won't negotiate or take 10% of what was owed.
  • Shelly Mayol April 22, 2010 at 11:09am
    Negotiating a 2nd loan with Greentree. Was told to change the HUD-1 to reflect 5% of the sales price as their fee to JUST REVIEW the account and proceed further. Are these newer tactics?

    Emily S. Knell said:
    They demand 5% of the purchase price be paid to them. They won't budge for less. They won't negotiate or take 10% of what was owed.
  • James April 7, 2010 at 2:46am
    I stopped making payments in December to GT and with Chase I stopped back in October. They seem to not want to help if you are current, it so sad. As far as my hardship goes I have lost $250,000 in income so that was a slam dunk right there . As far as other assets non to really speak of except a 401K.

    George Winston said:
    James,

    What sort of "hardship" did you present to GT.... and did you have to stop making payments.....

    I am just starting this process.... with GT as second.

    Also what other assets did you have??? Did you have real estate or other non-liquid assets?? This is good news for you... sounds like you are getting close.

    James said:
    Well they actually sent me a letter today accepting my offer of $35,000 for full settlement, vs the $60,000 that they were asking for. They put a deadline of 5/14 on the deal and I have had an offer on my house since 1/15 and Chase is totally dragging their feet. They still have me with a stager and they have had up to date financials the entire time. How do I get Chse to get off their buts and approve the short sale and close this deal. Any advise would be greatly welcomed. It seems like the challenge these days is with the 2nd lender but I have them wrapped up. Need some advise!

    Emily S. Knell said:
    They probably won't take $30k, however their initial offer of $60K to settle is a bit out of line too, they're probably just seeing that the total purchase price is $900k and think you probably have some money hiding under your floorboards.

    GT normally wants 30% to release the lien paid in full, which in your case would be $35,100, with $5k coming from GMAC, you need to increase your counter by a whopping $100. Tell them, that's 30% and that's what they offered to your friend that you know, why can't they settle on the same thing that they're demanding from others???!!!
  • George Winston April 6, 2010 at 4:52pm
    James,

    What sort of "hardship" did you present to GT.... and did you have to stop making payments.....

    I am just starting this process.... with GT as second.

    Also what other assets did you have??? Did you have real estate or other non-liquid assets?? This is good news for you... sounds like you are getting close.

    James said:
    Well they actually sent me a letter today accepting my offer of $35,000 for full settlement, vs the $60,000 that they were asking for. They put a deadline of 5/14 on the deal and I have had an offer on my house since 1/15 and Chase is totally dragging their feet. They still have me with a stager and they have had up to date financials the entire time. How do I get Chse to get off their buts and approve the short sale and close this deal. Any advise would be greatly welcomed. It seems like the challenge these days is with the 2nd lender but I have them wrapped up. Need some advise!

    Emily S. Knell said:
    They probably won't take $30k, however their initial offer of $60K to settle is a bit out of line too, they're probably just seeing that the total purchase price is $900k and think you probably have some money hiding under your floorboards.

    GT normally wants 30% to release the lien paid in full, which in your case would be $35,100, with $5k coming from GMAC, you need to increase your counter by a whopping $100. Tell them, that's 30% and that's what they offered to your friend that you know, why can't they settle on the same thing that they're demanding from others???!!!
  • James April 6, 2010 at 3:21pm
    Well they actually sent me a letter today accepting my offer of $35,000 for full settlement, vs the $60,000 that they were asking for. They put a deadline of 5/14 on the deal and I have had an offer on my house since 1/15 and Chase is totally dragging their feet. They still have me with a stager and they have had up to date financials the entire time. How do I get Chse to get off their buts and approve the short sale and close this deal. Any advise would be greatly welcomed. It seems like the challenge these days is with the 2nd lender but I have them wrapped up. Need some advise!

    Emily S. Knell said:
    They probably won't take $30k, however their initial offer of $60K to settle is a bit out of line too, they're probably just seeing that the total purchase price is $900k and think you probably have some money hiding under your floorboards.

    GT normally wants 30% to release the lien paid in full, which in your case would be $35,100, with $5k coming from GMAC, you need to increase your counter by a whopping $100. Tell them, that's 30% and that's what they offered to your friend that you know, why can't they settle on the same thing that they're demanding from others???!!!
  • Emily S. Knell March 23, 2010 at 10:22am
    They probably won't take $30k, however their initial offer of $60K to settle is a bit out of line too, they're probably just seeing that the total purchase price is $900k and think you probably have some money hiding under your floorboards.

    GT normally wants 30% to release the lien paid in full, which in your case would be $35,100, with $5k coming from GMAC, you need to increase your counter by a whopping $100. Tell them, that's 30% and that's what they offered to your friend that you know, why can't they settle on the same thing that they're demanding from others???!!!
  • James March 23, 2010 at 8:57am
    I am currently working with Gree Tree as my second lender. I owe them $117,000 and owe Chase $1,025,000 and the house is being short saled for $900,000. Chase is offering them $5,000 and GT said that they will allow the short sale to go through if the total amount is $12,000 so my out of pocket would be $7,000 but they will persue me for the difference on the total note of $117,000. They made an offer of $60,000 to settle the account paid in full. Today I made them an offer of $30,000 to settle and I will see what they say. My lawyer told me that GT is very hard nosed and does not really move alot with their offers but we shall see. Hope this helps.

    James
  • ang March 6, 2010 at 6:30am
    I see. However, In my case I have modified the first. Figuring out how to get into the best arrangement to settle the 2nd Lien so that I can float thru Bk7 afterwards is the challenge. I expect that i will be able to re-negotiate again after BK7 but my leverage is now. I do not plan on giving them any personal information. Just talk numbers and risk to them. I have to be careful because if they know you are filing BK then they want to speak to your attorney. Then again, this is where the leverage and challenge is. finding the right combination is to be seen.
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