Investors Turning Down Short Sale Because Their Own Appraisal Is Too Low - Short Sale Superstars2024-03-29T05:12:15Zhttps://shortsalesuperstars.com/forum/topics/investors-turning-down-short-sale-because-their-own-appraisal-is?groupUrl=hafahomeaffordableforeclosurealternative&commentId=3468065%3AComment%3A334577&x=1&feed=yes&xn_auth=noFNMA and FHLMC have their own…tag:shortsalesuperstars.com,2013-10-02:3468065:Comment:3345772013-10-02T22:14:07.950Zjoe beauchamphttps://shortsalesuperstars.com/profile/joebeauchamp
<p>FNMA and FHLMC have their own programs that they call HAFA. They are not, so you cannot go to HAMP and see their (seemingly ever changing) rules.</p>
<p>Wells Fargo is getting hit for not complying with the $12BB fed settlement (for screwing over homeowners) and you'll find plenty in these forums about FNMA getting BPO's and bumping up their demands 20% over that.</p>
<p>The best thing I can say is to be persistent and clear. Forget pictures, etc., you need good comps, point out differences…</p>
<p>FNMA and FHLMC have their own programs that they call HAFA. They are not, so you cannot go to HAMP and see their (seemingly ever changing) rules.</p>
<p>Wells Fargo is getting hit for not complying with the $12BB fed settlement (for screwing over homeowners) and you'll find plenty in these forums about FNMA getting BPO's and bumping up their demands 20% over that.</p>
<p>The best thing I can say is to be persistent and clear. Forget pictures, etc., you need good comps, point out differences which are important as if you are talking to a 3rd grader. Keep at it. If you have the energy to escalate and your facts sound good, go to a state senator - they seem to have pull.</p>
<p>Yes, these "investors" are playing politics. I'd love to see the real numbers of their games - what deals they kill, what extra holding costs and damage costs, final sales costs. Theoretically, they could be getting the best dollar by jacking up the price, but I doubt it. I followed a couple of properties in the past and w/o holding costs, I saw the losses.</p>