Anyone done a successful short sale with Greentree Financial?

By
Real Estate Agent with Keller Williams

Hey fellow Realtors. I have read nothing but bad things about Greentree Financial. I have a friend that needs to do a short sale on his home and Greentree Financial has the second. In doing my due-dilligence on the company I am hearing that they will not accept less than 10% of the PURCHASE PRICE!!  No not the loan balance but the PURCHASE PRICE. If you have had any dealings or have any advice I would greatly appreciate your assistance.

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Show All Comments
Rainer
7,394
Tom Winand
Spotted Home LLC - Salt Lake City, UT

Green tree is a collection company.  They will say there policy is 5%.  Get the approval letter from the first by submiting the 5.  The 1st will say 10% of balance or less.  Send that to greentree until they say no and go to the top.  To get it done with Greentree, call their corporate office in St. Paul Minnesota, - 651/293-3400, and ask for the operations manager in your state. Get their phone and e-mail address and CONTACT THEM  Tell them what happened and that may worrk.  Google Keith Anderson and the CFO and email them if that dosn't work.

 

salt lake homes for sale

March 04, 2010 01:00 AM #1
Rainmaker
21,454
Yvette Sloan
Morgan Lane Real Estate - Hidden Valley Lake, CA
"Clients First"

i am dealing with them right now.  Aurora is first and has issued approval.  Green tree will only accept 5%, they talk to me like "OH well".  Every time I call they always need something else, it was all faxed but they did not receive.  The faxes take about 4 days to get into their system.  The neg assigned to file only takes calls from 8-10 am, CALLED MANY TIMES no answer leave Voice mail.  OH it's full can't leave message.

This company is so frustrating.  I want to scream!!

Hope there is light somewhere

 

March 30, 2010 10:55 PM #2
Rainmaker
335,386
Ron Holborn
Short Sales, Foreclosures, Rentals, Income Real Estate - Anaheim, CA
Commercial & SFR, Anaheim CA, Real Estate & Short Sale Specialist

Thanks for sharing your experience about GT I have felt the same pain as Yvette in their attitude. I'll call the number you provided on Monday. THANK YOU

May 22, 2010 12:01 PM #3
Rainer
8,208
Haris Hadziselimovic
Keller Williams Realty Vancouver WA - Vancouver, WA
Vancouver Washington Real Estate

Kevin Jones at extension 36119 has been really helpful! He is a supervisor so call him and leave VM if you have to!

July 22, 2010 04:09 PM #4
Rainer
6,687
David Mueller
Keller Williams - Ann Arbor, MI
Ann Arbor Real Estate Specialist

I just closed on my deal with Greentree on the second. The balance of the second was about $55k. They settled for $5500 (BOA paid $3k and my Seller paid $2500) and Greentree WAIVED THEIR DEFFICIENCY RIGHTS!!! I thought it was going to be a pain but Greentree was actually great to deal with.

July 22, 2010 04:17 PM #5
Anonymous
Anonymous
Vikki Shore

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.

October 10, 2010 10:04 AM #6
Rainmaker
187,920
Christina ONeal
At Home Real Estate Group - Ripon, CA
Realtor - Ripon California

So awesome to hear a happy ending.  I was thinking Green Tree was a lost cause :)  whew

December 08, 2010 03:51 PM #7
Anonymous
Anonymous
ken

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

April 06, 2011 10:23 PM #8
Anonymous
Anonymous
Stephanie

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

January 31, 2012 04:11 PM #9
Anonymous
Anonymous
Andreas

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? 

June 05, 2012 09:38 PM #10
Anonymous
Anonymous
Daniel P Jelladian

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

August 10, 2012 04:17 PM #11
Rainmaker
306,780
Inna Ivchenko
Mannis Real Estate Group - Calabasas, CA
Los Angeles / Valley Homes

Same here, I'm looking for more information on Green Tree( first position). Any helpful tips would be greatly appreciated. Thanks.

June 28, 2013 12:10 AM #12
Rainmaker
306,780
Inna Ivchenko
Mannis Real Estate Group - Calabasas, CA
Los Angeles / Valley Homes

I got a Green Tree again. They immediately informed us about cutting our commissions and requested a higher price. We have a second on it as well. Wish us luck.

February 11, 2014 10:53 PM #13
Anonymous
Anonymous
Handy
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.
April 12, 2014 01:21 PM #14
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Rainer
6,687

David Mueller

Ann Arbor Real Estate Specialist
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