Has anyone out there seen the disturbing trend in the last couple of months with Freddie and Fannie insured loans. They both appear determined to foreclose on solid short sales with good offers. This trend started about two-three months ago and they are not willing to continue sale dates. Just curious if this is an isolated or geographic trend for Colorado or if others are noticing the same thing.
Tags:
Yes, I have experienced the same thing here in MN. It is even worse on the HAFA short sales. I actually had a servicer tell me that Fannie would rather forclose than close on a HAFA deal.
I work with short sales across the country and I find it in every state. There needs to be public awareness and an outcry against the stupidity of these government agencies not even considering some of these great offers on properties! I am outraged!
Yes I have seen the trend here in Oregon as well. Saying No and allowing good offers go away seems to be their answer to the crisis. Negotiating is not in their vocab. They are also demanding "we want to net this much and no more talking". This was through Everhome and they have their own issues as well. Believe me Fannie and Freddie live up to their reputation as one of the worst agencies ever. Good luck.
My opinion is one of two things are going on - One you've got a high BPO or two there is MI involved.
© 2024 Created by Short Sale Superstars LLC. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.