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Green Tree Servicing litigation warning

Discussion in 'Stop Foreclosure and Tell Us Your Story' started by inbaddebt, Jun 8, 2011.

  1. inbaddebt

    inbaddebt LoanSafe Member

    In 2006 walked out on my home and first got paid but the second I still owe 120k .... Tried to settle with Green Tree at 10% but they are asking for my financial information, which I refused.... So now they sent me a Litigation Warning letter to work something out with 15 days or we make consider taking legal actions.... Is it just a warning ? File for BK ? Will they still settlement ? State is VA
  2. Cat Damiano

    Cat Damiano Mortgage Wars

    You already posted this in the strategy thread which is the best place to receive a response for this type of question.
  3. Housebroken13

    Housebroken13 LoanSafe Member

    I have not seen a reply to this inquiry so giving it a friendly bump. inbad - how long has it been since your loan was charged off and/or you stopped paying? It's been over 6 months for me and i get calls about 3x a week from Greentree.
  4. inbaddebt

    inbaddebt LoanSafe Member

    I asked them, do you want alittle money or no money, It's really up to them .... judgement will not get them anywhere while I can discharge it quicker then them filing it .... HAHAHAH ..... housebroken the ball is in your court, I stopped worrying about it
  5. Housebroken13

    Housebroken13 LoanSafe Member

    I've been offering 10% as well, and they call me about 3X a week. If they push me I will file a Chapter 13, and have started searching for a competent lawyer to help me deal with this. My loan was charged off in Jan. of 2011, and I heard nothing until May of 2011.. They seem to be getting uber aggressive w/ the phone calls. My wife answered they last one and they told her to have me call back to avoid litigation, they threatened this over the phone last month as well.. What state are you in? We should keep in touch to share experiences and strategies, can we post emails here? Would love to see a copy of the letter or at least it's content.
  6. SurfwhenUcan

    SurfwhenUcan LoanSafe Member

    Both of you - do not make the mistake of filing before you have to. In many cases the attorney filing the lawsuit for the lender has authority to settle. They can and will do it - because most likely, they're getting a cut of any settlement, while a judgment could very well end up discharged in a BK and they get nothing. Make sense?

    BK's are only a last resort to be filed when all attempts at a solution fail and the lender goes after garnishment or levies. We discuss this frequently on the Strategy thread.
  7. Housebroken13

    Housebroken13 LoanSafe Member

    Tanks for the info Surf. Well after 3 weeks on not returning calls I finally called them back to touch base. Just like last month the want a payment of something, and want to put me in hardship program for 6 months since we can't agree on a settlement amount. I need to pay the $349.11 by 7/30, or my account goes to someone else. Getting close to a year of nonpayment, loan charged off in Jan. 2011. They threatened "possible litigation". Wondering if I should seek legal counsel yet, or hold out and see where it goes. They keep asking how much will I settle and i say $5000.00 every-time, and that a family member is lending to me, that is the most I can get. They want financials, but I sent them back in Jan. Thinking of sending a singed settlement/hardship letter for now.
  8. SurfwhenUcan

    SurfwhenUcan LoanSafe Member

    When they ask for financials, tell them they'll know you can afford the settlement when they make an offer and get a check from you in the mail lol

    I usually tell people to get a consultation with a couple BK atty's just to see what the options are there. The atty's always want you to file right away obviously. Green Tree is tough. But look at their so-called threats - pretty vague. What does "account goes to someone else" mean?

    I would also check, if this hasn't been suggested yet, on whether your state has "security first" statutes. Meaning, do they have to pursue action on the security before pursuing you personally? CA has these which is why I ask. If so, then they can do nothing against you until and when the property forecloses and they become an SOJ. If the property doesn't foreclose, stop taking their calls and ignore them. They can't do a thing. Since it's been a year and they haven't specifically threatened anything, just vague "legal action" I'm wondering if this is the case.
  9. Housebroken13

    Housebroken13 LoanSafe Member

    Inbad, I just got my "warning" letter yesterday. They didn't even send it Certified Mail, it came with regular first class... LOL Same verbiage as yours, 15 days. Any updates on your end? I sent them a hardship/settlement letter the day before offering 5% now to settle.
  10. inbaddebt

    inbaddebt LoanSafe Member

    Yeah I got one of those letters, about 30 days ago ....

    dont worry about it, avoid them and let them leave you a few voicemails, I have my lawyer working with them or else I'll wait for them to work a judgement and THEN I'll file chapter 7 last option if they don't settle for 10-15% percent ...I'm just being prepared for the GOOD and the BAD ....

  11. Housebroken13

    Housebroken13 LoanSafe Member

    Any movement/updates on your end yet?
  12. inbaddebt

    inbaddebt LoanSafe Member

    nothing here .... what about you?

  13. Housebroken13

    Housebroken13 LoanSafe Member

    Nothing on my end, it's been quiet thus far.
  14. smalltownblues

    smalltownblues LoanSafe Member

    Add me to the list. I also received a similar "15 day" litigation warning from GT. There final offer before sending the letter was 30 percent to which I refused. If anything changes I will post an update.

    smalltownblues
  15. inbaddebt

    inbaddebt LoanSafe Member

    30% is to high, did you also send financial info ? docs ? or no ?

  16. smalltownblues

    smalltownblues LoanSafe Member

    Although they did request it, I did not send any financial info.

    An odd thing I just realized is GT has not called since the last time I spoke to them. This was when I had refused their offer and at which time they threatened me with a litigation letter. I am now wondering what happens next. If anything I will let you all know.
  17. Housebroken13

    Housebroken13 LoanSafe Member

    Any updates from anyone, haven't heard a peep from Greentree.
  18. smalltownblues

    smalltownblues LoanSafe Member

    Same here, nothing at all.

    I guess they would rather have nothing than settle. I have a small amount of cash that I had been saving to work out a settlement. I'm now thinking of using that to pay down some other debts.
  19. aworriedowner

    aworriedowner LoanSafe Member

    I have retained an attorney, even tough I have only stopped payment 2 months ago, just to have one for questions. But she told me do not send ANY finiancial to Greentree. NONE WHAT SO EVER. When I get to the point of settlement offers I will call her and she will negotiate. Attornies are more successful in getting the settlement offer you are looking for they deal directly with their negotiators to settle.
  20. aworriedowner

    aworriedowner LoanSafe Member

    Housebroken13, how long has it been since you stopped payments to Greentree? Wondering how long this process could drag on I know I just stopped 2 months ago, how long has it been for you?

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