Seterus Foreclosed on an APPROVED Fannie Mae short sale!

This happened just yesterday and we want this transaction back. This was the 1st foreclosure date on the property ever, short sale was approved at the time as they allowed it to sale, and no one bought the property. 

Does anyone have contacts to fight this.  We've worked with the same buyers since June 2011 and they still want this house. They've paid for inspections on the home and most importantly the short sale is approved!

Any guidance is going to be helpful.  I've got a few days before they send this to Homepath.  I'm also disputing this on the Fannie Mae side.  Thanks!

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Replies to This Discussion

Permalink Reply by Kevin - Greenville, SC on December 6, 2011 at 4:08pm

Unfortunately there is little chance that the Foreclosure will be reversed short of a court order.  Sorry..

Permalink Reply by ElizabethWeintraub00697006LyonRE on December 7, 2011 at 3:05am

Although I've had limited success reversing a foreclosure, the problem with Fannie Mae is they want to foreclose. You should have seen this coming. Fannie Mae's policy is if it is closer to the foreclosure date than the short sale closing date, then Fannie Mae will foreclose. Doesn't matter if it's an approved short sale. Sorry.

P.S. This is why Fannie Mae HAFAs are so dangerous.

Elizabeth Weintraub

Broker-Associate #00697006

Lyon Real Estate

Permalink Reply by Shamekia Goldsmith on December 7, 2011 at 10:05am

Thanks for the responses.  @Elizabeth...you said you've had "limited success".  Can you explain what you did when you were successful and rescinding a foreclosure? I can use any tips possible.  I can't stop trying on behalf of the sellers and the buyers.  Thanks!

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