Need Help - Who to Negotiate 2nd with in a short sale?

[horsiefanatic]

New to this site - overwhelmed, can't find what I'm looking for.

House is rental - was owner occupied by me for year and a half, moved, kept it to wait for market to turn, it never did.

1st - $192,000
2nd - $46,000

Stopped payments in 1/12. House put on market 2/12, contract 3/12 - for $170,000.

Originally Countrywide, the BoA. 3/11 was notified Greentree was servicing 2nd. Started paying Greentree payments for 2nd beginnning 4/11. Verified 2/12 verbally with both Greentree and BoA that BoA owns both loans.

Short sale packages for both 1st and 2nd sent to BoA - all follow up docs, etc. with BoA. Appraiser came 5/12. 6/12 Greentree found my short sale negotiator and requested short sale package. I declined, called BoA negotiator on advice of realtor to find out why Greentree was in the mix. 6/20 - Greentree notifies my short sale negotiator that unless they receive a paymetn by 6/22 they're selling the 2nd to collections agency.

I called my BoA negotiator again today, requesting confirmation/name of the negotiator for the 2nd if it was not her. Was able to pull a form letter off web tonight to send to BoA requesting confirmation of ownership of 2nd, which I can draft and send on Friday or Monday of this week.

I've told my short sale negotiator to stop talking to Greentree - they don't own the loan, and they seriously harrassed me when I stopped payment, and my friends/family. I had to send a letter to the FTC to stop them, and this when I was just 1 month late in 2/12!

What else do I do but validate who owns the loan? If BoA owns them both, then I plan to ignore Greentree completely - is this correct? I am awaiting my offer from BoA, do I need to worry about Greentree at all? Can they send a loan they don't own to collections?

Thanks!

[horsiefanatic]

PS - House is in CO - so it's a recourse state, hence the short sale.

[gintn]

I am going through the same now. 2 loans from countrywide converted to BAC. 1st loan was sold to Greentree on 2/12. called yesterday to GT to find out who owns the note on 1st and she said BAC. I asked the lady that i was working with in BAC regarding the 1st loan ownership. she has no clue and asked for 1-2 days..... seems like GreenTree and BAC have some agreement to confuse the house owners. hopefully someone will be their sue them... It's sad that I work for the BAC.

BAC has already offered me to reduce the Interest on 2nd and GreenTree tells me not to do 2nd else i have to wait for 1 years for 1st loan modification.... more confusing

I am going to wait till tomorrow......

[gintn]

got an email from BAC rep saying I have to work with GT for the 1st loan.

[horsiefanatic]

Good luck,

but my 2nd has not been sold. It's being serviced- but the loan is still owned by BOA.

So in my situation - who do I negotiate with? the owner of the loan is the only one who can forgive the debt, a servicer has no rights, nor no legal relationship with me.

[gintn]

I am very new to this game. you may be able to find more info from https://www.mers-servicerid.org/sis/index.jsp

I searched by Property Address Only. Then you will see below. click on click here which will ask you for the Last Name and SS#. I confirmed mine is Greentree. I was hoping it would have easier if I had to deal with only 1 bank.

If you are a borrower on this loan, you can click here to enter additional information and display the Investor name.