Green Tree mortgage is both a lender and a servicer for many loans on homes located in the Santa Clarita and San Fernando Valley areas and much of Southern California . They are one of the fastest growing servicers of loans. They have just taken over many of the accounts formerly held by GMAC and many of the second loans held by Indymac Bank. Even if your loans were originally held by another lender or bank, its quite possible that it may now be either held or serviced by Green Tree.
Green Tree is a participant in the government’s Home Affordable Foreclosure Alternatives Program,
HAFA although not all of the note holding investor’s who’s loans they service are participants but they will give you that information if you contact them and ask. If you qualify under that program not only will your loan be forgiven in full if your short sale is approved and your home sold but you will also receive $3,000 for a moving assistance incentive. If you do not qualify under the
HAFA program you still may qualify for a traditional short sale where your loan will be forgiven and reported as “paid as settled” but you would not receive the $3,000.
If you are upside down on your mortgage or are in default or have been sent a NOD, you should contact the bank and let them know that you would prefer to short sale your home. Of course the sooner you contact the bank prior to the NOD being filed, the better. The contact number for the Green Tree account representatives is 1 800-643-0202.
They may suggest that you let them help you find an agent but it is in your best interest to find a good and experienced short sale Realtor yourself since the bank will likely suggest their REO foreclosure agents and that in my opinion is often a conflict and not in the homeowner’s best interest.
The bank will send you out a short sale package which usually will include a request for;
A Hardship letter explaining why you need to short sale your home, just one or two simple paragraphs about what caused the need to short sale and why.
2 months pay stubs.
2 years tax returns, include all pages and all signatures
2 months of all bank account statements, all pages even blank ones.
A budget worksheet of all income and all expenses
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