Please help! I recently got a second turndown from Fannie Mae SS. The basics: 5 price reductions and offer for 180,000 (LP 185,000). When I disputed Counter 1, negotiator told me independent BPO came in at 180,000. Fannie Mae countered at 250,000 and would not change after dispute. I have heard from colleagues they have also had this problem with counters not justified. I am hearing it is better financially if FN/FM gets the prop as REO. I have contacted CA Attorney General as well as local Reps. Any comments would be appreciated. I am sure I can't stop this decision but maybe we can prevent others!
Thank you.
Cate Norton
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That is so terrible! I am waiting on a HAFA price pending with Fannie Mae, apparently they don't like the appraisal...at least if they give a high HAFA price the seller can just do the deed in lieu and be off the hook if it doesn't sell....