Harrassing Lenders.
Yes you read it right. .
Here's the skinny:
1st $108k 6 mos behind (forebearance rollover) First double payment was to begin May 3, 2004.
2nd $700 HOA lien
3rd $4000 in back taxes.
Offering $74,950 for everything.
House in AS IS worth maybe $90 - 100k
Needs about $30k in improvements to make in a good seller in our current market.
In good condition this house would sell at about $135 - 155k. (after repairs)
We have secured the Authorization to Release and a 60 day lock as well as the hardship letter, Dis-abilty check for his wife bank statements for 6 mos, paycheck stubbs - even a Union notice of the strike this fellow is going on this week.
The Lender (Green Tree) from day one of our faxes to their office has been just nutts. The Lender is trying to get the seller to go around us and get them to list the property with a real estate agent. Their reps have even begun calling our seller and yelling at them for non-payment and everything else under the sun... even told our seller that if this goes to foreclosure, there will be NO SHORT SELL.
Anyone else ever have a challenge like this?
Any Suggestions of next steps would be greatly appreciated. 
[ Edited by Dilbert98 on Date 05/04/2004 ][ Edited by Dilbert98 on Date 05/06/2004 ]
Dil,
Are you sure you are dealing with the loss mit. dept.?
Kelly
Has the owner been served a Notice of Default from the lender? Have you gone to Green Trees web site and looked for any information on short sells or short payoffs? Where did you get the list of documents required for a short sell with Green Tree? Sounds like you are dealing with collections and not the loss mitigation department.
Of course if it goes to foreclosure there will be no short sell.
Brenda
AHHH there's the question of the week.
Looked up Greentree... found no website for them... did however find a LOT of consumer complaint related sites though...
Default letters sent yes... no foreclosure paperwork.
We were dealing with collections... submitted everything to them (60 day lock, Authorization, P&S, hardship letter, 2 year taxes, two mos bank statements, wage loss check stubbs, strike notice, medical doc showing a triple by-pass etc...)
This was supposed to go to Foreclosure/Loss Mitigation after May 1. Thought we were finally dealing with them. Instead went to the 60 day dept - whatever that means... Kept saying they had not gotten any of our documentation packet. Badgered our client for money!
They began calling our client on Thursday at 7am! We advised our client to send/fax a Cease and Desist letter and change their outgoing message to say "calls are recorded and monitored"... and told them to tape the abusive convos...
On Saturday, after our client had gotten pretty beat up by this guy... recording the entire convo... We all got on the phone with a four way... (our client, our legal advisor, us)... called this abusive dude back... connected with their front desk... suddenly this guy is unavailable, so we got 5 supervisors names and their direct extensions.
Respectfully peppered this front desk person with questions... let her know that this guy was calling at 7 am... we have recordings of the abuse and are ready to seek another cure...
Now, suddenly, it looks like GT is willing to negotiate... There are no more calls and the abuser is quite pleasant (stand up to a bully and hold your ground) and of course we also told them their BPO was high for the market and the area... provided our own comps with a market analysis showing just how long most of the homes are staying on the market... looks like we are back on track.
:-D [ Edited by Dilbert98 on Date 05/14/2004 ]
Sounds like you aren't having much luck. I'm currently working a SS with green tree and have found them to be quite pleasent. It is my first attempt at a short sale and they don't require a lot of documentation and are walking me through the process.
Of course, this may be because they haven't received a payment in over a year on a 250k house (and the auction date is still 3 months away!)
Oh, and in case you haven't reached the L.M department: Phone->1-877-816-9125 Fax->480-383-0539. Be forewarned, it is a community fax so call them first and talk to a rep!
-Chris
_________________
Live long and be profitable!
[ Edited by c-brainard on Date 05/16/2004 ]
Yeah Buddy. Thanks for that 800 #
I'll give them a call in the morning.
You're welcome
[addsig]