Greentree 2nd Loan. When they agree to a short sale--Do they sign off on the remaining debt?

I hear that Greentree is a nightmare....but my seller wants to know if they'll sign off on the rest or if they still try and come after you after a shortsale? Any input would be appreciated.

Thanks!

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Comment by Adrian Smith on January 29, 2010 at 11:03am: So is it your experience that they want 5% of the sale price and then they still don't release the rest?

Thanks again for the feedback!

Comment by Steve Lewis on January 29, 2010 at 10:52am: Adrian,
I recently closed an escrow with GT as the 2nd. They were fine to work with. Once the negotiator was assigned I got her email and direct phone number and she always responded back to me within a day. I needed to extend the escrow and got it done with a new approval letter being issued quickly.

The approval letter did release the lien but not the obligation for repayment. Apparently that is their policy on all short sales.

Regards
Steve

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