Help! Fannie Mae wants more than appraised value.

Any input is much appreciated.

I have a Green Tree SS (yuck). Green Tree has been difficult with this file. The home was originally a mobile reconstructed to look like a home.   The property appraised value is $72,000.  I spoke to the agent who did the BPO and it came in at $78,000.  The offer is $80,000 and Fannie Mae needs to net $86,000 which means the buyers offer needs to be approx $96,000.  This will never appraise for $96,000.  Have any of you had to deal with Fannie Mae wanting more that what a home will appraise for?  I have thought since the sellers haven't been paying the mortgage maybe they need to get an FHA appraisal, will this work.  Does Fannie Mae work like this or are they just stuck on that price? Any suggestions. I need your Help!

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Comment by Brett Goldsmith on September 22, 2012 at 7:35pm


       According to the information you provided you have received an investor counter. Investor counters stand firm compared to a counter at the lenders level.We have processed hundreds of files with Fannie Mae as the investor and the way we would approach this is by placing a value dispute. Are you familiar with value disputes? Also, Is there a 2nd lien on this property? As an additional option If the value dispute route doesn't work would involve the buyer. If the buyer really feels the property wouldn't appraise that could be another route of action. It is important to remember that if the property appraises not in the buyer's favor the buyer's offer will have to stay at the appraised value. If you have any questions please feel free to send me a message or an email at

[email protected]


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