HELP!!! Problem with Greentree 2nd in RECOVERY

Hi All, I have a shortsale where WF is 1st lienholder and Greentree is 2nd. I have approval from WF and the loan is FNMA investor, so they are offering GT $6,000. We previously had an approval, but buyer walked and GT had agreed to take about $2,000. Now we are under contract again and meanwhile GT has moved file to recovery. They tell me they are waiting on MI approval. I don't understand, they are getting almost 3X as they previously approved. Seems like a no-brainer. Does anyone have MI info that I can call direct??? I am concerned that this buyer will walk soon. PLEASE HELP ME!!!

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Permalink Reply by ElizabethWeintraub00697006LyonRE on April 20, 2013 at 6:41am

The problem doesn't sound like it lies with Green Tree or the MI company. It sounds like somebody needs to explain what is going on to the buyer and reassure the buyer that this will close. Fully informed and confident buyers tend to stick around.

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