Anyone work with Greentree, who apparently is a sub-servicer for B of A

I am Short Sale savvy, but live and am licensed in Sarasota, FL.  My son in CA has to do a Short Sale on his primary residence.  A few months ago, he was getting statements for Greentree instead of B of A.  Anyone had experience with them and which corporation a homeowner is working with? He wants to apply thru B of A.  On all these blogs I don't recall anyone negotiating or mentioning Greentree, who apparently is a sub-servicer for B of A.  Tks very much. Randy Schweitzer

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Hi Randall! I'm based out of Southern Cali and have experience with Green Tree. They are a debt collection service for many banks specifically for 2nds that may have been written off.  They aren't the easiest folks to deal with as they often demand 30% of the balance.  Let me know how I can help. Sharon Tukay 909.730.7723

I am working on a short sale with B of A as the first and Greentree as the second.  Greentree is difficult because they want more then the first is willing to give, so the buyer are kicking in the differance to get the deal done. I am in Northern California, Sonoma county, let me know if I can help.

Rachel

I just closed my second transaction with Greentree. Both times they refused to take

anything less than 20% of the balance. In 1 transaction, the buyer paid the difference,

in the 2nd transaction the agents did. Greentree is very unyielding.

Hi Randy,

In December 2011, B of A sold many many loans to Greentree. You should probably start by trying to figure out who now owns the loan, and then who is servicing the loan. Good luck, Greentree can be difficult to deal with.

Where is California is your son? If you need a referral agent in the Anaheim, Corona, Riverside, or surrounding areas, I'd love to talk with you. Thanks! Liane Thomas, Keller Williams, 951 454-3805 www.TheJetTeam.com

Tks Liane.  He lives in Palmdale.

I have closed one with Green Tree as the 2d. We negotiated them to accept 20%, to which the buyers, agents and the seller contributed.

Randy,

I am working with Greentree right now. They are ok, they aren't Wachovia but I've seen worse.

Greentree is a participating lender in the HAFA program. If he qualifies at least he can walk away with $3,000.

  • You live in the home or have lived there within the last 12 months.
  • You have a documented financial hardship.
  • You have not purchased a new house within the last 12 months.
  • Your first mortgage is less than $729,750.
  • You obtained your mortgage on or before January 1, 2009.
  • You must not have been convicted within the last 10 years of felony larceny, theft, fraud, forgery, money laundering or tax evasion in connection with a mortgage or real estate transaction.

Hope that helps.

P.S. I am in Southern California

 

Thank you all for the feedback, which I will pass along.  I meant to thank you all earlier; however, we are extremely lucky in Sarasota, FL to be overwhelmed with buyers.  The days aren't long enough, but can't justify hiring an assistant yet.  Tks again. Randy Schweitzer

I am working one with them right now that I've been working for almost a year.  It's one of my two demon files.  It's starting to look like it might be ok.  Earning my money on this one.

Yes, I actually worked with them last year and at first they had a very "I don't care attitude" and told me it would take at least 45 days to get a negotiator assigned, but once they assigned the negotiator, it took her only one week to approve. They don't like to be bothered with calls and their supervisors are just as annoying, but the negotiator was great.

 

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