Approved by FNMA but refused to call off sheriff's sale

I was working a short sale through 5/3 with FNMA as the investor. I had numerous offers on the property but FNMA kept turning them down because they wanted the appraised value determined by their appriasal.

I received an offer on August 30. FNMA approved it on September 19. The sheriff's sale was scheduled for September 23. The negotiator said they was plenty of time to call it off. Late Thursday afternoon, September 18, I was told that FNMA refused to call off the sale even though we had an accepted short sale.

It went to the sale and taken back by 5/3 on Friday, September 23. Is there any way of getting the sale vacated? Does anyone have any suggestions as where to go from here?

Please help, This is the 2nd time FNMA has done this and I do not want it to happen again. Also, does anyone have a contact number for a decision maker at FNMA?

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Permalink Reply by Jeff Corporon on September 25, 2011 at 5:20am

FNMA has become increasingly difficult to deal with hard nosed when it comes to sale dates in Colorado in the last three months. I don't understand their new inflexible position on refusing to extend sale dates.

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Permalink Reply by Robin Lemmons on September 25, 2011 at 7:39am

Do you have any contacts at FNMA?

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