Has anyone out there seen the disturbing trend in the last couple of months with Freddie and Fannie insured loans. They both appear determined to foreclose on solid short sales with good offers. This trend started about two-three months ago and they are not willing to continue sale dates. Just curious if this is an isolated or geographic trend for Colorado or if others are noticing the same thing.
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My opinion is one of two things are going on - One you've got a high BPO or two there is MI involved.
Yes I have seen the trend here in Oregon as well. Saying No and allowing good offers go away seems to be their answer to the crisis. Negotiating is not in their vocab. They are also demanding "we want to net this much and no more talking". This was through Everhome and they have their own issues as well. Believe me Fannie and Freddie live up to their reputation as one of the worst agencies ever. Good luck.
I work with short sales across the country and I find it in every state. There needs to be public awareness and an outcry against the stupidity of these government agencies not even considering some of these great offers on properties! I am outraged!
Yes, I have experienced the same thing here in MN. It is even worse on the HAFA short sales. I actually had a servicer tell me that Fannie would rather forclose than close on a HAFA deal.