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GreenTree Walkers?

Discussion in 'Deed in Lieu of Foreclosure - Do You Need Help to ' started by IamaWAWalker, Apr 23, 2012.

  1. IamaWAWalker

    IamaWAWalker LoanSafe Member

    I'm just curious of the timelines for GreenTree. We are getting ready to walk away from our loan, but am wondering if you can compile information from GreenTree to see how long it takes them to foreclose on average? The attorney we went to see said they are quite agressive, but said if we defaulted in May we will have until January at least in the house. She said that since they tend to be so aggressive, we would be on the "fast track" of things, but I am just curious about other peoples experiences with them, if they are foreclosing quickly, taking a long time, somwhere in the middle.
  2. Evan Bedard

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

    Hi IamaWAWalker,

    The amount of time it will take to foreclosure depends on the state's foreclosure process and not who servicers your mortgage. For example, in some states like NJ and NY where foreclosure are held through the courts, it could very well be up to 1-2+ years before the foreclosure is complete no matter who services the loan..

    Here are some other threads with members who have walked away from their home in Washington:

    Walking away, my strategic foreclosure in North Seattle, Wells Fargo (refinanced)

    Joining the club: Strategic default in Seattle, WA.

    These Boots are Made for Walkin'......... In Washington

    Foreclosure in Washington State

    Here is some information on the foreclosure timeline;


    Washington State Foreclosure Law
  3. IamaWAWalker

    IamaWAWalker LoanSafe Member

    I understand about the laws and timelines, but I was also under the impression that it DOES matter who services the loan. How backed up they are and how aggressive they are. I am well aware that the servicers have to follow guidelines provided by the government and the state laws where the home is located. Thanks for the links, I will be sure to check them out. The laws are not being followed to the T, it's taking longer to foreclose for a lot of people, my husband and I are just trying to establish and guestimate of a timeline (not necessarily law) of how long it is ACTUALLY taking them to foreclose, not the shortest amount of time it could possibly take, but the actual amount of time it is taking.
  4. Evan Bedard

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

    You make a good point, for servicers who are overwhelmed with defaulted loans the foreclosure process could drag out longer than normal. IMO I would think a safe average timeline for the foreclosure to complete in WA would be about 8-12 months..
  5. OverandDone

    OverandDone LoanSafe Member

    I don't believe that green tree is overwhelmed. They just recently started servicing first mortgages in the last several months and always did seconds and mobile homes before that as far as I know. They are speeding along as fast as they can to take her house according to my friend who has them as her servicer.
  6. IamaWAWalker

    IamaWAWalker LoanSafe Member

    I know they just took ours back in Sept, but if you search for them on consumer complaints there are TONS of posts, horror stories of their dishonest, sneaky, underhanded, shady, manipulative, disrespectful, and rude tactics. If I can catch them breaking any sort of rule, you better believe I will be getting all I can get out of them over it. Wait until everything is said and done, then take them to court so I can't get any backlash over it. KWIM?
  7. Hondo

    Hondo LoanSafe Member

  8. Evan Bedard

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

    You will find these kind of posts with every mortgage servicer and you will find the timelines will vary for mostly everyone, even those in the same state with the same exact servicer..
  9. IamaWAWalker

    IamaWAWalker LoanSafe Member

    Well that's good to know. I'm absolutely terrified. LOL But I'm to the point that I'm even more terrified of having to live here for the next 10 years. YUCK!

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