Green Tree Collection - Bank of America says they are working with homeowners

Short Sale 102 – Green Tree

What do you do if your 2nd mortgage is held by Green Tree? One Word – Give up these guys doesn’t negotiate, refuse to listen and speak over you in your traditional collection agency garbage.

There Policy: They are not willing to take less than $5k or nothing... I bet BofA share holders are happy with those policies or are they. You speak multiple telemarketers who ask the same mundane questions are you going to make a payment.
It seems dealing with green tree collection agency a division of Bank of America new policy is %10 of the total loan amount not their loan amount but if there is a first and second combined.

For instance a property purchased at $175k is now worth $58k the 1st mortgage is $145k and the 2nd is worth $29k.

The 1st loan is willing to accept $58k with $2,900k paid to the 2nd who is Green Tree holds. They are unwilling to accept $2,900 renegotiated dollar amount and jacked it to $5k then said $5k would be the starting point. $2,100 discrepancy they refused to budge on but kept on talking doing their best to get your blood boiling and fly of the handle so they can hang up on you. If you are polite they have to talk and talk but one harsh tone or $%� then they will just hang up. Now they can threaten to come after you even though their loan is not secured and use scare tactics to get you to bite but you need them, they don’t need you.

I have to say speaking with Green Tree is up there with getting a root canal.

Admin, Nuff Said

What’s going on in the short sale world?

What’s going on in the short sale world?

• It is common practice of distributing disinformation – if you call back 10 times a day for 5 days and ask the same questions you will get a wide variety of answers. These are not small discrepancies but black and white answers that would lead a person to believe what the representative is telling them.
• Representatives talk over you and will not listen to questions nor answer then with the intent to frustrate you. In fact, I bet they have in office bets how frustrated they can get you and keep you on the phone.
  
• Incoming fax process – no one knows how it works because it doesn’t.
• Incoming calls to short sale are redirected to telemarketing debt collectors who blatantly lie, pass phone calls back and forth to each other pretending to be supervisors then hang up on you without raising their voices, are very pleasantly trying to frustrate you to hang up or if you are on a cell phone lose your connection – What could be the reason?
• Sending out thousands of letters to customers telling them their short sale will be done within 30 days giving them hope – supposedly by mistake
• Sending out thousands of letters to customers telling them their short sale was declined – supposedly by mistake.
• 1st Tier Telemarketers/Debt Collectors push the limit with threats about payment and collection tactics.
• 1st Tier Telemarketers/Debt Collectors will not let you speak to a supervisor without repeating a scripted question over and over then when they do transfer you the disconnect you.
• Files that actually do make it into their system disappear
• Files that are assigned a negotiator after months are unassigned and kicked back to pending status
• Files that are being reviewed are not updated for weeks or reassigned to a new negotiator not escalated to a 2nd Tier or 3rd Tier Negotiator.
• 1st Tier Telemarketers/Debt Collectors are in places such as Arizona and India. *Nothing against India but these is confidential information.
• Loan Holders with some Lenders have received notices that their confidential information such as social security numbers MAY have been stolen by an ex-employee.
• Even after a short sale has approval India 1st Tier Telemarketers/Debt Collectors still call day after day wasting time and money.
• Blindly out of nowhere a representative will call you with a fake name and tell you your short sale has been declined due to no offer or documents in their file, leaving you to call a 800 number where a new representative will know nothing about it when policy dictates all contact to be noted in the file.
• When any representative is on the phone with you and is “noting the file” a person would be lead to believe that he/she is but when you call back a day or a week later to check there are no notes in the file. None. Zip.

Frustrated Admin who calls these people on a daily basis to go round and round for hours on the phone.