I had my offer accepted on a short sale home last Nov 2015, in Chula Vista, CA for $386k the home s serviced by Navy Fed and owned by Fannie Mae, after 4 BPOs they came back with $440k that has two loans combined at $425, I countered with $400k, in which the came back with $435k during this I decided to spend the money and get an VA appraisal which came in at $390k, which was submitted back to FM, what are the chances they will accept the appraisal and approve the amount from what I'm reading FM can be very difficult
You need to be a member of Short Sale Superstars to add comments!
**********************************
like buttons
Replies
There is no clear answer, but with FNMA finds the appraisal valid they will consider lowering their value. They may or may not lower it to the VA appraised value. The fact that you got a VA appraisal is a benefit as it likely carries more legitimacy than a standard appraisal that isn't being used for financing purposes.
Brett@ishortsalenow.com
310-564-6389
www.ishortsalenow.com
Hi thank for responding, we have submitted the appraisal, I guess that wait continues