Freddie Mac turns down short sale so that they can foreclose

My short sale that I have been working on with Wells Fargo for months has just been denied by Freddie Mac so that the buyer can buy the house from Home Steps in foreclosure.  We have a cash offer ready to close yesterday, negotiator accepted our price, and now I get an email saying our short sale has been denied.  They want the buyer to go through Home Steps.  I dont get this.  Why would Freddie rather have a foreclosure than sell it right now at market value?

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Permalink Reply by Bryant Tutas on July 21, 2012 at 5:12pm

WOW! Did they really state they were foreclosing so the buyer could purchase the house from them? That makes zero sense.

Contact:  [email protected]

Also:

Contact Info

Freddie Mac Borrower Outreach 877.518.8429
Freddie Mac: 800- FREDDIE press 0

[email protected]

 

Permalink Reply by L Alexander on September 17, 2013 at 6:23am

This isn't current information.  Do you have an updated email address for Freddie Mac?

Also the phone number isn't good anymore.

Permalink Reply by Thom Colby CA Brkr 888-391-5245 on July 22, 2012 at 1:58am

Do you have that denial and the reason in writing ?  If so, post a redacted copy so we can all benefit from your experience.  So sorry for all your hard work .....

Permalink Reply by L Alexander on September 17, 2013 at 6:24am

I have had the same problem, but as the Seller of a property with Wells Fargo

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