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Old 10-21-2009, 08:56 AM   #7 (permalink)
Housebroken13
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Re: Green Tree Settlement Offer

Some more food for thought, thinking i should simply stop paying Green Tree altogether.

I currently am in a HomeSaver Forbearance with Bank of America until 2/1/2010. I've been told My load would get modified at that point in time.

Per Fannie Mae's loan workout fact sheet:

To execute the modification:

Prepare the Loan Modification Agreement (Form 3179, 3161 or 3162, as applicable) and obtain the signature(s) of the borrower(s)

You may only sign the Loan Modification Agreement for an MBS loan after the loan has been reclassified

Obtain subordination agreements from junior lien holders and record the modification if required by Fannie Mae in its written approval of the modification - So I am assuming they will contact Green Tree at his point to subordinate my 2nd lien?

Submit original agreement to document custodian within 30 days
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