All - 

I have a client who is taking a job out of the area and has a 1st with Citi and 2nd with GreenTree.  The second is about $68k and the 1st is approved with $8k going towards GreenTree.  I get a response today that the only way GreenTree will accept a short sale is for my clients to pay in full.  They do have a significant amount in their retirement and that is what they are using as justification for this.  The first is being shorted about $30k - 

Any thoughts?  They are not going to do it...they are current on both loans so that does not create urgency on their behalf.

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James - If they are not motivated to do a short sale, that's a big problem in itself. I would ask them if they then want to continue to make payments and keep the property, apparently drawing from their retirement account. How long would it take for the retirement account to be drained the $68,000 making continued payments and maintaining the property vs paying in full (or a settled amount) now? If they are willing to keep pulling out funds for several years, and they are apparently well-employed with a new job, maybe it is not a big deal to them. If so, say good-bye.

James,

      Green Tree is often a pain to deal with. You need to escalate the file hard to to see if there is any way to get this transaction done. The fact that they are current and have a large sum of money are major red flags. Keep pushing tho, deals like this are still able to get done. Stress the fact that they need to move for work and that they are facing imminent default Hopefully things pan out for you on this transaction.

[email protected]

www.ishortsalenow.com

310-564-6389

Where/how do

Call in and request a supervisor or a floor manager. They may try to prevent you from being transferred, but don't take no for a an answer. Sometimes it's all about getting to a helpful rep who is willing to hear out your case. Make sure you paint a pretty picture for them. To my knowledge Green Tree does not posses an executive office, so keep climbing the ranks until the deal gets done or you hit a brick wall. At that point in time you will need to contemplate alternative options to get the deal done or to walk away.

Hope this helps, feel free to reach out to me anytime if you have any questions.

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