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We're opting for the Deed in Lieu option with our 1st and we *were waiting to hear from our 2nd mtg company on a settlement (which they dragged their feet on), when we unknowingly hit 180 days â€“ and they automatically charged it off.
My question is: is it better to negotiate a settlement (post charge off) with the 2nd mortgage company (Green Tree) â€“ in a continued effort to do a DIL with our 1st?
Or the collection agency they might send it to?
If they send it to collections â€“ who releases the lien?
(so I can prove to Mtg 1 that the property is free and clear)?Their delay tactics seem unscrupulous - any impressions of Green Tree?
Thanks in advance.
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