By the end of August, Green Tree will be no more. But the company is not closing. In fact, Green Tree’s parent company, Walter Investment Management Corp. (WAC), is merging Green Tree with another of Walter Investment’s well-known subsidiaries, Ditech Mortgage Corp, to form a new company, ditech, a Walter company.

Should I refinance my home to pay off my rental property?

A cash-out refinance is a viable way to pay off debt, especially if you have lots of high-interest debt that’s sapping your income. Mortgage rates are currently near record lows, so by cashing out equity to pay off higher-interest loans, you can essentially consolidate all that debt under a lower interest rate.

Who owns Greentree Mortgage?

Walter Investment Management Corp.
Green Tree was acquired by Walter Investment Management Corp. in July 2011.

Can I refinance my home to buy a rental property?

It’s possible to use a cash-out refinance on your home to buy an investment property. You could use the withdrawn money to make a down payment or buy the investment property with cash. And you can do this as soon as the refinance closes. However, you still have to meet your lender’s credit requirements for refinancing.

Who took over GreenTree finance?

Walter Investment Management Corp. acquired Green Tree in 2011, and in August 2015, Green Tree Servicing and Ditech Mortgage Corp. linked up to create Ditech Financial LLC, also owned by Walter.

What happened to Green Tree Servicing LLC?

On August 31, 2015, Green Tree Servicing became ditech, a Walter company. To learn more about this transition from Green Tree to ditech, please visit

Why is my mortgage being sold?

In hopes of a quicker profit, lenders will often sell the loan. If servicing a loan costs more than the money it brings in, lenders may attempt to sell the servicing of it to lower their costs. The lender may also sell the loan itself to free up money in order to make more loans.

Who took over Greentree finance?

What kind of loan do I need to refinance my rental property?

In addition, you can only use a conventional loan to complete a cash-out refinance on a rental property. That means you won’t be able to refinance using any government-backed loans like FHA, VA, or USDA. Instead, you’ll need a loan backed by Fannie Mae or Freddie Mac — the two major agencies that set rules for most U.S. mortgages.

When is the best time to refinance your rental property?

When Should I Refinance My Rental Property? The best time to refinance your rental property is when the value of the property is high and interest rates are low. The most common reasons to refinance are to: Lower your mortgage rate; Pay off your loan faster; Purchase new investment properties; Upgrade a current investment property

What are the rules for cash out refinancing a rental property?

For instance, your credit score needs to be quite good, usually at least 680. And your cash out refinance must leave you with at least 25% equity in the rental property and decent cash reserves in your bank account. In addition, you can only use a conventional loan to complete a cash-out refinance on a rental property.

What to do with money you get from refinancing your home?

You can borrow against the equity in your home and access the cash immediately through a home equity loan or cash-out refinance. You can use the money to fund repairs, pay off credit card debt or pay for almost anything else. Are you getting the most rent possible out of your investment property?