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!