Big issues with Greentree

[ChrisC]

Have a client we helped get on a new personal budget as well as a complete restructure of his financial profile for Greentree. So we finally have the full package put together with everything they needed with our workup, the guy I had been speaking to originally on the account said it was fine and qualified. Get ready to submitt in, and out of the blue it gets transferred to some body in collections who apprently has authority over mods as well. He's going into the 4th month being behind. Profile restructured shows if modified the debt can be supported as he took about a 20K pay cut this year. So this lady at Greentree now says so and so has to pay 2600 by 30th or I'm locking the account and foreclosing. The most he can come up with by then is 1,000... not acceptable to her. And she says I'll make sure the account has a lockout put on it so even if a mod package is submitted in or attorney calls nothing will be done. So the other day some other lady from collections calls and now says they changed it its now 4K he has to pay or literally in their words "pack your stuff and get your familiy out as we'll send a sheriff over".

So he speaks to a supervisor this morning, she made it even worse. And said I have it marked at 7K now, pay that and maybe we'll do your mod, otherwise start packing as we're gonna have you evicted (foreclosure hasn't even started yet regardless). I had an attorney friend call and they actually hung up on him.

What I don't get is I've completed stuff with them no problem before, and in much worse case scenario'. His what they keep comng back to is some deferments they did in the past, like 1 in Jan. Well obviously you morons should have seen that was doing nothing but putting him in the same position with that payment he was struggling with after income was reduced.

Never had this happen before and we're stuck, not sure what to do. Normally any other lender if their asking for fee (not a good faith deposit before completion of the mod) to stop foreclosure, and wasn't paid, we could still move forwad just that now the lender has filed, mod can still be completed during foreclosure process.

[daytona1]

I'd forward it to Treasury and let them know that Greentree is not following guidelines assumng you are trying for HAMP...otherwise State Reps, etc...Is there equity in the home?

"pack your stuff we are sending sheriff over" are scare tactics they have to foreclose first and then get eviction....totally over the top collection tactics and probably a violation of Fair debt collection as they are making threats... Just my opinion...what State?

[ChrisC]

Originally Posted by daytona1

I'd forward it to Treasury and let them know that Greentree is not following guidelines assumng you are trying for HAMP...otherwise State Reps, etc...Is there equity in the home?

"pack your stuff we are sending sheriff over" are scare tactics they have to foreclose first and then get eviction....totally over the top collection tactics and probably a violation of Fair debt collection as they are making threats... Just my opinion...what State?

He's in North Carolina.

Yeah never had a problem with these scare tactics before, where were stuck is this person seems to have authority on mods as well and is saying unless X amount is paid their making sure the account is locked out and nothing with be worked on or accepted. Then he called and asked to speak to a supervisor who made it even worse and now says well I changed it to 7K now so pay that or pack your stuff up.

Just for the kicker, I had an attorney friend call and whomever he spoke to they hung up on him. I talked to other companies and this was their recent experience with Greentree as well, and then the sales dates went through and b/c of redemption laws nothing could be done afterwards and homeowner lost the house.

[daytona1]

Is there equity in the home? What is estimated LTV?

Is your client working?

I don't know your clients situation but a B/K would stop them dead in their tracks and those "tactics" would really piss off a judge...I'd keep documenting everything...even record the calls.

You might look for "escalation" numbers for Greentree right here on the site.

[ChrisC]

Not at the office right now so can't recall ltv issue off hand, but yes still working same job, just about 20K less per year as UPS had cutbacks. Thing is he should have to file BK in his case, any other lender would have still accepted the package and worked on it while they filed and started the foreclosure process, i.e. couldn't come up with the funds to stall out/stop foreclosure which is essentially 1-2 mortgage payments buying some time. And we've done the same with Greentree, just his file which is actually has the least amount of issues compared to others is stuck in limbo.

[Housebroken13]

I also would file a complaint if I were you these guys at green Tree are overly aggressive and out of control I called them and they were yelling at me on the phone.

Did you get names of the folks you were dealing with?

File a complaint with your state's banking dept, office of the comptroller of the currency, and your states Attorney General's office, maybe even others that I can't think of off the top of my head....

[ChrisC]

Account was transferred to someone else in Greentree, now they want 5K upfront or won't accept any package to review. Only about 6K in equity going off comparables but still dropping in that market. Not possible for him to come up with 5K upfront.

Now their saying their not offering any modification help untill after January. Which is exactly the bs they pulled earlier this year 2-3 times, call back May, call back Sept etc.

[ChrisC]

Ok this is what their saying, they did a deferrment for him January, which was pointless as they should have seen right then and there that he needed a restructuring of the note since his salary was cut at UPS. So their saying b/c they did a deferment in January, they can't do a modification untill then. But either way, their asking for 5K or their not going to allow any review done, and by January the amount will pry be even more as their filing foreclosure right now. Just complete bs....