Anyone done a successful short sale with Greentree Financial?

We just received our final approval letter, 5% of the balance WITH full satisfaction of the lien and the note. This was a very difficult transaction and it took considerable negotiating over several months. It is important to note that when you are haggling dollars any figure is meaningless unless they are also willing to give the borrower full release from the loan after the short sale. Many lenders and their servicers (including Green Treen) will give you a figure which you think will close the deal. Then when you receive their approval letter it will state they still have the right to go after the borrower for the balance of the loan. Beware, protect your client and don't fall into their trap of thinking you've arrived at a settlement until you resolve the deficiency issue. A short sale objective should be to settle all debt once and for all.

Hi

 

i am selling my home as short sale and i have received my approval with GT . they accept 3000 from my 1st but on approval they did not say anything about releasing me from the total debts so i need to know what should i do...my 2nd is purcahse money and not a HELOC, so should i call them and ask for relasing me for defeciency judgment, my buyer willing to come up more...please need your advise on this issue...

 

thanks

I am in dire need of help with my short sale with Green Tree.  I have not started any processes, I don't want to make any mistakes.  If someone can please contact me via my email, so I can call you back.  msstephanielong@yahoo.com.  Thanks

I have 2 land listings, investment properties, and am doing a short sale on both of them. I called GreenTree in September 2011 to see if they would consider a Short Sale, they said Yes. And there's only one lon with GT on each lot. I listed the properties. In December 2011 it looked like we are going to get them sold. So I called Greentree and asked again if they consider a short sale on these properties. Again they said Yes. I got them under contract early January 2012. Submitted all requested documents by fax to them by mid January. From then on it was a huge nightmare. I actually never received a phone call from GT. All the messages I left remained unanswered. Whenever I got to speak to one of their customer service agents, they were able to tell me a little bit, mainly the file got kicked back from Loss Mitigation because of missing documents. And of course all of those were faxed in originally. By mid April I went to my assigned case worker's supervisor, who told me that he's sorry for any inconvenience, but if I fax everything to him again, he will personally take care of it. That turned out to be another bogus answer. From April 16 to June 2, he did nothing. Another customer service rep told me on the 3rd. that the file is still kicked back from L/M for missing documents. On June 4th. that supervisor told me there's nothing else to send in, they got everything (that's the same answer he had given me mid April). So, today is 6-5-12, nothing is done, and we are still where we were in January 2012. You figure out GT. I'm a successful short sale agent, having successfully listed, sold, negotiated SS and closed the short sale in 3.5 weeks, but this GreenTree case is the worst case, and worst bank behaviour so far. If they don't want to do a SS in this Case, they could have told me in September last year, and i could have saved myself a lot of time and money. My Seller is thinking of suing GT for a MERS case. Anybody any input on this? 

Hello Fellow Realtor or who ever would have a phone number for someone at Green Tree who is helpful in processing a short sale.  

Did you fell that if every agent stopped processing short sales that just maybe the lenders would change their tune? Been doing these for 6 years and I have had enough. I don't need short sales to make a living and it just seem that we are the only ones who seem to care whether the short sale is completed or not. The worst is when the file is in the escalations department. Escalations is just another name for foreclosure.