I live in California, and I have had the unfortunate experience of dealing with Green Tree. They own my 2nd with a balance of $68,000. I had an offer for a short sale with the 1st offering GT a $7,000 pay off. GT refused! The first foreclosed and GT got nothing. My problem is that in 2006, I refied the second and took equity out (approx. $10,000). I just got the same 15 day notice warning of pending litigation. My wife and I are torn on what to do. We were fortunate enough to purchase the current home we live in before everything happened. The home that GT is involved with was a rental we owned that went bad when the tenants stopped paying us their rent.
We are looking for any advice or past experiences anyone has to offer. I have a very hard time paying them any money especially after they refused the short sale offer which led to the foreclosure. If I'm not mistaken, since I refied, the GT second is a recourse loan?
Please, respond with any and all comments!