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Green Tree Services

Discussion in 'Loan Modification' started by ladyfijiana, Mar 7, 2010.

  1. ladyfijiana

    ladyfijiana LoanSafe Member

    We had both our loan through Indy Mac and all of sudden our second is sold to Green Tree that is last week. We have been current on both.
    Is it going to be easier now for us modify our second since first was modified last year in June (inhouse) in Indy Mac?
    Anyone in here do you have any experience with Green tree services? We did sent all our information for them to modify our second and we hoping we can at least reduce the interest rate. Our house is way underwater.
    Any advise or help appreciated
  2. Evan Bedard

    Evan Bedard Call 1-800-779-4547 Loan Safe Mortgage

    The fact that your first mortgage was modified will not have any affect as to whether or not your 2nd mortgage will be approved for a modification.. Just go to the search button that is located at the mid-top hand section of the page, right above the threads and type in "green tree." There you will find many threads discussing this servicer. Here is one below:


    http://www.loansafe.org/forum/stop-...y/19266-green-tree-charge-off-settlement.html
  3. jedebelen

    jedebelen LoanSafe Member

    Hi ladyfiji,
    Yes we are really on the same boat :) me too is current and I've been trying to modify my loan through Indymac... what's your status on Indy did you recieved your mod? how much reduction did you got? and how did you do it?
    Thanks
  4. ladyfijiana

    ladyfijiana LoanSafe Member

    We did get our first modified in house last year with 3% for 5 years and so forth. But recently our second was sold green tree and we are trying to see if they can modify 2nd. We always have been current with our payment and also with our second too.
  5. ladyfijiana

    ladyfijiana LoanSafe Member

    Here is my update on Green Tree (2nd mortgage). We got a call today from Green Tree telling us the our mortgage is modified and it is 4% for one year only. I am wondering should we accept it and file for bankruptcy within this year or should we keep fighting.
    I would appreciate any ideas or help in this matter as what to do! Should we accept the offer or not? What would you do if you are in this situation?
    Our house is valued the same or less then the first mortgage. Our first is already modified with indy mac last year (in house). Second is 11% and the offer is now for 4%.
    Thank you all for your support, help. opinion and ideas.
  6. Evan Bedard

    Evan Bedard Call 1-800-779-4547 Loan Safe Mortgage

    That is a great interest rate reduction on your second. If you can afford to make the monthly payments I would definitely take the deal.
  7. ladyfijiana

    ladyfijiana LoanSafe Member

    Thanks Evan,

    We were already current on all our payments but making payments with struggle. The only thing is that after a year this reduce payment is going back to 11% which is back our struggles again.
  8. ladyfijiana

    ladyfijiana LoanSafe Member

    Ok today we received our 2nd mod paper from green tree and the interest is 6% now. On phone they said it is 4% for one year but it is 6% for 2years.
    So GT says that after 2 years we can reapply for mod.
    Why can't they just make it permanent!!
  9. tony1151

    tony1151 LoanSafe Member

    I hae just completed a short sale on a second home whee Green Tree is Second lender. they have been relentless, unforgiving and implossible to work with. My first mortgagee wa GMAC. The accepted $15K less then loan amount and contributed $23K toward second lender (Green Tree) Since closing Green Tree collections area has continued to hound me on a daily basis concerning the remainder of the debt. does anyone know if I have any options? I live in Maryland and property was a second home.

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