Good Afternoon:
I am having an issue with Fannie Mae. I have a property that is being sold in a short sale, obviously, but there are so many repairs that are needed on the home. Fannie Mae however, will not bring their value down and they will not consider the repair estimates as they believe the estimates are not correct. The buyer had a licensed individual go out to the property to assess the damage, but Fannie Mae will not budge and they denied our clients short sale.
I have escalated this issue with Fannie Mae twice and really need some help. Does anyone have an escalation number for Fannie Mae.
Thank you.
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Replies
Tough situation which I've seen too many times. Is there a foreclosure sale date on the property? If you can't get them to budge you may need to wait until a new value is ordered.
Brett@ishortsalenow.com
310-564-6389
www.ishortsalenow.com
They will not order a new value. They will only state that they do not agree to the repair estimates, but Fannie Mae clearly is not basing this off the current condition of the home, there is mold, railings are falling off the, carperts need to be replaced, etc. We do not have a foreclosure pending however this is a property that has been through this process for soo long!